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Local Bitcoins Removes Cash-for-Crypto Trading Option

Helsinki-based peer-to-peer exchange LocalBitcoins has reportedly removed the option allowing users to buy or sell cryptocurrencies in person for cash.

In a Reddit post Sunday, a LocalBitcoins user pointed out the option was no longer available on the platform, though commenters some suggested the restriction might be limited to the U.S..

The removal of the option – which basically acts as a matchmaker for users to make trades in person – effectively bars LocalBitcoin users from selling and buying bitcoin for cash. LocalBitcoins has also cancelled pending fiat trades, other comments suggest.

The platform has not yet made an official announcement about the change on its blog or Twitter.

In response to the move, LocalEthereum announced has temporarily removed the trading fee on cash-in-person exchanges – effective June 1 to July 1.

LocalBitcoins’ move comes after the company announced in February that it would comply with the European Union’s (EU) new anti-money laundering directive.

Several other P2P cryptocurrency trading platforms still offer an in-person cash option.

Handing over dollars image via Shutterstock

Source: Pivot – Blockchain Community

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Local Bitcoins Volume In Venezuela Is Going “To the Moon” – Justine Pope

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Over the past month, more and more Venezuelans are turning to bitcoin as a store of value. Activity on peer-to-peer bitcoin service LocalBitcoins shows just how much the trend is growing. Very likely caused by the rampant inflation in the South American country, the surge in bitcoin interest comes as Venezuelans search for a currency that won’t depreciate as much as the Bolivar. LocalBitcoins is what’s called an “over-the-counter” cryptocurrency exchange. Users post what amount of Bitcoin (or other cryptocurrency) they’d like to buy, for how much, and their location……………

Read more: https://www.cryptoglobe.com/latest/2018/11/localbitcoins-volume-in-venezuela-is-going-to-the-moon/

 

 

 

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