Coinffeine launches first decentralized Bitcoin exchange

Coinffeine launches first decentralized Bitcoin exchangeCoinffeine launches first decentralized Bitcoin exchangeSpanish firm Coinffeine announced Tuesday on its blog the launch of the world’s first decentralized Bitcoin exchange platform in more than 70 nations, including Brazil, China, Indonesia, and Russia.

Two months following the release of the technical preview version, in which users experimented with the platform, Coinffeine now allows the exchange of Bitcoin and fiat currency in a peer-to-peer manner and in an international market.

The company said in the blog post that it provides a user experience similar to traditional exchanges, but using local payment processors like PayPal to manage fiat currency and a desktop application to allow users to manage their own Bitcoins without having to lose control over their coins at any time.

Coinffeine said it leverages the peer-to-peer model to avoid deposits in BTC or fiat currency, making it unnecessary to identify consumers or meet costly money laundering laws in each nation.

“Not having to identify users or enforce KYC [know your customer] laws has allowed us to design a much more scalable exchange model,” said Coinffeine CEO Alberto Gómez

Read more ... source: CoinReport