What do you like best?
The platform allows users to offer and request any kind of tasks for very low prices; which is great because if you don't know how to do something or you want to learn about a specific topic, you can pay someone who knows a minimum of $5 (a price set by the seller) and voila!
You can sell your services (gigs) for a minimum price of $5; and you can literally buy or sell anything. Pictures, lessons, videos, designs, music, cooking recipes, memes,...
As a seller, you get to design your gig, by stating what you offer, the price you want to charge, the time of delivery and so many other aspects, and you can post a picture designed by you, to make it more catchy and personalized.
What do you dislike?
My personal experience on Fiverr isn't good. I've been trying to sell my services as a general translator for over a year 1000 words for $5 for over a year, without any positive result. There are many people, who've been on the website for years selling the same thing I offer; but, since they're now popular and have been reviewed by their buyers, new buyers always choose them, which means new users, or users with no reviews have it hard to sell their gigs :-(
I recently posted another gig, offering lessons via Skype to improve Spanish and English pronunciation (since I'm a Spanish native speaker and an English teacher), but I'm still waiting for my first buyer.
I really hope I can start selling on Fiverr so I can see what else the site has to offer.
Recommendations to others considering the product
Go for it! I'm still waiting to take advantage of it, but there are many other services, besides translation, that can be sold there.
What business problems are you solving with the product? What benefits have you realized?
None, so far. But it's just a matter of selling my first gig. I know friends who offer their services on the website and have been able to make some money.