Coinffeine Launches Beta Version of Decentralized Bitcoin Exchange Platform Worldwide

Spanish Bitcoin startup Coinffeine has launched the world’s first decentralized Bitcoin exchange platform in more than 70 countries, including Russia, China, Indonesia and Brazil.

The company, which started offering a technical preview of their platform in May, was funded by the Spanish bank Bankinter through the Bankinter Innovation Foundation in November.

The Coinffeine platform is still in beta, and the company recommends exchanging only moderate amounts of money through the platform until further notice.

The founders describe Coinffeine as “BitTorrent for Bitcoin,” a decentralized exchange based on peer-to-peer operations.

“Coinffeine is completely distributed, just like BitTorrent,” notes the Coinffeine website. “The exchange is done peer-to-peer (P2P), so there is only a very limited disclosure of information (your payment processor account so the money can be transferred) with the person you are doing the exchange. You are always in control of your bitcoins, and your trusted payment processor of choice is in control of your local currency.”

Coinffeine CEO Alberto Gómez Toribio said that using Coinffeine is as simple as using LocalBitcoins, but as powerful as using Coinbase or BitStamp. “We want our customers to be those who simply have a PayPal-like account and

Read more ... source: Bitcoin Magazine