People from all over the world have opened accounts to trade bitcoin cash anonymously and without any KYC on Local.Bitcoin.com. Almost 1,000 BCH has already been exchanged privately through blind escrow via the new platform.
Also Read: Namecheap Lets You Buy a Domain and Host Your Website With BCH
Userbase on Local.Bitcoin.com Grows Rapidly
Local.Bitcoin.com, the privacy-focused peer to peer global marketplace for trading bitcoin cash (BCH), was only officially launched on June 4. Since then over 22,000 people have already signed up to open accounts on the service and created thousands of active orders. The platform continues to grow rapidly and is currently gaining 500 new users each day.
Transactions using the platform have already been successfully completed in 45 countries so far. The top market by the number of trades completed is the U.S., followed by Australia, China, Canada, Germany, Sweden, India, the U.K., Serbia, Poland and Venezuela in that order.
Local.Bitcoin.com lets traders choose any payment method available to them for making transactions. Currently the most popular payment methods are bank transfer at 35%, Paypal at 11%, Alipay at 12%, Venmo at 6%, cash in person at 6%, UPI (India) at 5%, cash deposit at 5% and gift cards at 5%.
Human to Human Trading
While many centralized exchanges are now forcing users to jump through hoops like submitting a selfie with their passport or government ID to prove their identity, Local.Bitcoin.com enables you to trade anonymously and without any KYC, which has likely contributed to its rapid growth. Additionally, the launch of the platform couldn’t have come at a better time for cryptocurrency traders who prefer to transact in person for cash as Localbitcoins just removed that option at the beginning of the month.
“The amount of bitcoin cash changing hands each day through blind escrows is growing every day. The current total is nearing 1,000 BCH,” the lead developer of the platform, Michael Foster, commented on Thursday. “It might seem a bit slow compared to high-frequency-trading exchanges, but it’s a great start for a new human-to-human platform. Each trade represents a real person, not a robot, moving real wealth from one economic era to another.”
What do you think about trading bitcoin cash on Local.Bitcoin.com? Share your thoughts in the comments section below.
Images courtesy of Shutterstock.
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