The New Jobs and Gigs Marketplace

Coinvet is a better way to connect employers with the best candidates for full-time jobs and clients with the best professionals for project work. Coinvet's patent-pending system taps the collective wisdom of the crowd to find and recommend the best professionals for an employer or client's particular needs.

"Coinvet's system has the power to be a revolutionary leap forward in recruiting and hiring for jobs and for the gig economy."

How exactly does this work?

Coinvet works for all jobs and gigs. You don't need to pay the professional in bitcoin. In fact, you just pay the professional using your normal payment systems, likely in U.S. dollars. The magic lies in Coinvet's unique system of crowdsourcing the best professionals for your job or project.

Like other marketplaces, an employer or client creates a job or gig posting on the marketplace. But then the magic happens. As part of the posting, the employer/client sets out a bounty (of at least 0.0025 BTC - currently $24.78) as an incentive to the crowd to help find the best professional - obviously a higher bounty will create greater incentive. Individuals apply for the job or gig (including information as to what exactly they will do on the job/gig and why they are uniquely qualified, with such applications publicly viewable on the marketplace), and recommenders recommend applications, including a vouch payment (of at least 0.00001 BTC - currently $0.10) in connection with a recommendation.

How Do Recommenders Receive the Bounty?

If the employer/client selects an application for which one or more recommenders have submitted vouch payments, then those recommenders will split the net bounty in proportion to their vouch payments if the professional satisfies the service condition for recommenders to receive the bounty.

For example, if Recommender A has submitted a vouch payment of 1 BTC and Recommender B has submitted a vouch payment of 2 BTC in connection with an application that was selected for a job with a net bounty of 1.5 BTC, Recommender A will receive 0.5 BTC of the bounty (together with the return of their 1 BTC vouch payment) and Recommender B will receive 1 BTC of the bounty (together with the return of their 2 BTC vouch payment).

For a full-time job, the professional must remain employed for 3 months after their start date with the employer for the recommenders to receive the bounty. For a project, the professional must receive a rating from the client of 9/10 or more after the project for the recommenders to receive the bounty.

If a professional is hired but the service condition is not satisfied, recommenders who recommended the selected application will forfeit their vouch payments and the employer/client will forfeit the bounty. (Trust us though, we all benefit if the service condition is satisfied, and in the vast majority of cases, given the crowd-vetting that is done, professionals that are hired using our system will far exceed these service conditions).

If the employer/client does not select an application for which one or more recommenders have submitted vouch payments, those vouch payments connected to an application that was not selected are returned in full to the recommenders.

What Can Coinvet Be Used For?

Coinvet can be used for virtually any job or project when you truly want to hire the best professional for your specific needs. For example, if you want to build a house or do a major home renovation, simply set forth the exact details (providing as many specifics as possible) and let the applications come in (with recommenders vouching for the best applications, standing behind their recommendations with their wallets). Coinvet works for almost anything, from consulting gigs, to complex web development projects, to legal work, to full-time executive-level jobs.

Fees

Coinvet charges a 20% commission on bounties, so that recommenders split the remaining 80% of the bounty after the service condition is satisfied. Coinvet does not charge any other commission or fees. Coinvet charges nothing on the salary or fee paid from an employer or client to the professional. As a result, employers and clients generally pay considerably less for our service than they would pay using headhunters or other marketplaces. And employers and clients get far better results on Coinvet (with less work) due to the crowd-vetting that occurs.

Because we use Coinbase wallets to disburse bounties and vouch payments (and encourage employer, clients, and recommenders to submit Bitcoin payments using Coinbase wallets), there are no fees for transferring Bitcoin.

Of course, while Coinvet bounties and vouch payments are made in Bitcoin, salary or gig fee payments from the employer or client to the professional can be made in U.S. dollars -- Coinvet does not handle or charge any commission from those payments

Why Is Coinvet So Much Better?

  • The crowd amplifies your search to find professionals, so that professionals that you may never otherwise find (but who are highly-qualified for the job or project) are encouraged to apply by recommenders who want the bounty
  • The crowd stands behind the professionals they recommend with their wallets
  • You can see exactly which applications have received the most vouch payments
  • The crowd is helping to find the exact professional to match the specifics of your job or project, rather than you undertaking some generic search or using a marketplace algorithm that cannot match the power of the crowd
  • The crowd does the hard work for you, even though you remain in complete control and can still interview and further vet professionals
  • The crowd's collective wisdom as to the best professional for a particular job or gig far exceeds that of any one website or headhunter

About Us

Coinvet LLC is based out of 1776 in Washington, DC.

Neil Sandhu

Founder and CEO

Neil is a computer programmer and graduate of the University of Virginia and University of Virginia School of Law.

Questions?