Roger Ver, CEO of Bitcoin.com, has recently announced the launch of a new BCH peer-to-peer trading platform called Local.bitcoin.com. This new platform is now in direct competition with BTC-based LocalBitcoins.com.
The new platform is now live and traders are allowed to buy and sell bitcoin cash without restrictions.
According to a recent report, the launch of the platform on June 4 in honour of the 30th anniversary of the Tiananmen Square protests. According to the firm behind the project —Bitcoin.com, the aim of the project is to challenge alternative peer-to-peer marketplaces by providing its users with a wide range of advantages.
Speaking further on the aim of the projects, Roger Ver, CEO of Bitcoin.com, made it clear his main focus was to create an “exchange platform that allows its users to keep their personal details private while engaging in peer-to-peer trading.”
“Privacy is important to everyone. But, all too often, platforms ask you to share every single detail about yourself before they even let you create an account. It’s off-putting and, ultimately, it goes against the grain of being permissionless.” he continued
Users of the new platform can easily sign up without sharing their private information since no KYC is required.
This was confirmed by Ver himself.
“[People] can sign up and start trading right away with zero questions asked by us since we are never a party to the trade,”
Contrary to what its main competitor, Localbitcoin.com charges for a transaction—1%, the new platform’s fee structure only charges 0.25 percent for makers and 0.75 percent for takers. Furthermore, users of the new OTC marketplace can also benefit from its referral program that lets users earn 20 percent of future trading fees associated with the referral accounts.
According to Ver,
“Over 7,500 accounts had already been created and there are more than 2,000 active offers on the platform since it launched. Bitcoin.com revealed that most of the signups are coming from the United States, Nigeria, Indonesia, and the Philippines. So far, the preferred choice of payment has been bank transfers and in-person cash trades.”