Local.Bitcoin.com Gathers 56K Accounts and $200M Worth of Trades Initiated

Three months ago, Bitcoin.com launched its over-the-counter BCH marketplace on June 4. Since then, Local.Bitcoin.com has aggregated more than 56,000 accounts, hundreds of bustling users every day and thousands of BCH trade offers.

Also Read: Plans to Build $50M Bitcoin Cash Tech Park Revealed

Over the last few months, the peer-to-peer marketplace Local.Bitcoin.com has seen steady growth when it comes to registered accounts and liquidity. At the time of publication, the noncustodial trading platform has more than 56,000 accounts stemming from cities and towns all around the world. Some of the most popular Local.Bitcoin.com trading regions include the U.S., China, Venezuela, Russia, Australia, New Zealand, and various countries throughout Europe. Since the launch on June 4, accounts that have successfully traded have risen to 2,612% as of Sep. 12, 2019. The number of active offers continues to rise and the marketplace has seen an 8.7% increase since the marketplace launch. Global trade volume on Local.Bitcoin.com has expanded by 2,917% over the three months as well.

This month new accounts have been coming from Russia, Venezuela, the U.S., Canada, and Great Britain. The local fiat currencies tied to these regions are some of the top currencies traded for, or used to sell, BCH every day. Other popular domestic currencies traded on the peer-to-peer marketplace include CNY, EUR, INR, NGN.

There are a lot of traders with diverse methods of exchange as many active traders choose to use payment transfers through banks and Paypal, while you can also find lots of traders utilizing in-person cash trades. Other prevalent methods of trade include cash deposits, Western Union, Money Gram, gift cards and Venmo. Users can set up active trades for other cryptocurrencies and stablecoins and even trade BTC for BCH through Square’s Cash app, as well.

If you haven’t yet, the process to sign up for Local.Bitcoin.com takes less than a minute. After getting an account you can access a BCH marketplace that fosters privacy with encrypted communications and over-the-counter traders in nearly every region. You can immediately create offers or trades on Local.Bitcoin.com in no time at all. The exchange is protected by two-factor authentication, a wallet backup, and a blind escrow system for secure trading. The blind escrow allows people to trade without worrying about a third party or even Bitcoin.com touching the funds. You release the funds when you want to settle a trade and it’s technically impossible for our website to spend BCH held in escrow. Local.Bitcoin.com can provide mediation for dispute resolution but the blind escrow system ensures only the buyer or seller authorizes a withdrawal.

There are many benefits to using an OTC marketplace like Local.Bitcoin.com and one of the most important to a lot of people is that it’s a private way to purchase bitcoin cash. Another reason to use our BCH trading platform is that it offers a large variety of payment methods and more so than the traditional crypto exchange today. For instance, some exchanges will let you purchase crypto through your bank or a credit card but that’s about it. Local.Bitcoin.com has a variety of payment options to choose from and traders can use any payment route they desire. Another unique attribute of Local.Bitcoin.com is that it’s available in hundreds of countries and in some global regions, it’s the only avenue people have to purchase bitcoin cash.

Peer-to-peer trading platforms can offer better arbitrage opportunities than traditional exchanges as well. Arbitrage is an approach to buying bitcoin cash at cheaper OTC rates and then selling the BCH later when the price is a few percentages higher. Essentially, at Local.Bitcoin.com, you make the rules as to how you want to trade, and you can always rest assured you’re in control of your money with our professional noncustodial services.

What do you think about Local.Bitcoin.com? Have you signed up for our peer-to-peer trading platform yet? Let us know what you think in the comments section below.

Image credits: Shutterstock, Pixabay, and Local.Bitcoin.com

How could our Bitcoin Block Explorer tool help you? Use the handy Bitcoin address search bar to track down transactions on both the BCH and BTC blockchain and, for even more industry insights, visit our in-depth Bitcoin Charts.

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