Peer-to-peer cryptocurrency marketplace Localbitcoins has announced the launch of a new mobile application for its global user base. The software is designed for devices running on Android. The app has been released in response to a growing number of mobile traders.
P2P Crypto Market Localbitcoins Offers Users Android App
Popular P2P crypto exchange Localbitcoins has presented a mobile application for traders around the world. The app has been developed for Android users and according to an announcement published on Monday, it has already seen thousands of downloads. Work continues to create an iOS version as well, the marketplace assured.
The Helsinki, Finland-headquartered company said it’s launching the app after signing up 1.7 million customers in 2020, most of whom were using mobile devices to access its platform. Quoted in the press release, Localbitcoins Chief Marketing Officer Jukka Blomberg commented:
Our new mobile app shows our commitment to our global user base and enforces LocalBitcoins’ founding idea of Bringing Bitcoin Everywhere.
The application facilitates crypto purchases and sales in 190 countries, the exchange detailed, supporting “almost all global currencies” and more than 100 payment methods. Users are offered a free bitcoin wallet while the security has been enhanced with biometric and two-factor authentication.
Localbitcoins also promises low fees, with free deposits and transactions between its users. The platform will collect a 1% escrow fee from advertisers and charge a withdrawal fee based on Bitcoin blockchain fees.
“Bringing Bitcoin Everywhere is all about inclusion and accessibility. We are continuously listening to the needs of our customers worldwide and constantly aiming to improve and evolve our service to fulfil those,” Blomberg also stated, adding: “Many of our customers had been hoping for a mobile app as an option and as a result, we developed one.”
In the years since its establishment in 2012, Localbitcoins has become the world’s leading peer-to-peer crypto exchange by facilitating over-the-counter trading of bitcoin (BTC) with local fiat currency. In June this year, the platform added to its payment options bitcoin cash (BCH) and dogecoin (DOGE), among other cryptocurrencies, and stablecoins like tether (USDT).
Localbitcoins allows users to post advertisements on its website, propose an exchange rate for their digital assets and state the desired payment methods buyers will be able to use to acquire the coins. In 2019, the P2P marketplace announced it was introducing new identity verification rules and removed in-person cash trades, forcing some of its customers to look for alternative services.
Paxful, a major competitor of Localbitcoins, has a mobile wallet app which lets users buy, send, and receive BTC, ETH and USDT. Other peer-to-peer crypto exchange options include Hodl Hodl, which last year allowed users of the Bluewallet app to buy bitcoin through an integration with its platform, and Localcryptos, which added support for BCH transactions in September.
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