Localbitcoins has announced the launch of its mobile application for its users around the world.
The peer-to-peer (p2p) cryptocurrency marketplace, designed its app’s software for devices running on Android in response to the increasing number of mobile traders.
The Localbitcoins app enables the buying and selling of cryptocurrencies in 190 countries with over 100 payment methods and supports almost all currencies in the world.
It comes with free Bitcoin wallets to its users and improved security (two-factor authentication and biometric).
The platform also promises free deposits and transactions between its users as well as low fees on transactions. It will charge a withdrawal fee based on Bitcoin blockchain fees and receive a 1% service fee from advertisers.
The app has already seen thousands of downloads since its launch and Localbitcoins is working on creating an iOS version of the app as well.
The decision to launch the app, according to the Finland-headquartered company, is due to its huge customer base (1.7 million as at 2020), most of whom accessed its platform with mobile devices.
Speaking on the company’s dedication to improving its services and making it accessible to everyone, Jukka Blomberg, Chief Marketing Officer, Localbitcoins, said, “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.”
He further added, “Many of our customers had been hoping for a mobile app as an option and as a result, we developed one.”
Localbitcoins was established in 2012 and since then, it has become a pioneer p2p crypto exchange — facilitating over-the-counter Bitcoin trading with local fiat currency.
The platform lets users post ads, propose exchange rates for their digital assets, and determine the desired payment methods for trading.
In 2019, Localbitcoins announced the introduction of new identity verification rules and withdrew in-person cash trades thereby causing some of its customers to seek alternative services.
It included Bitcoin Cash (BCH), Dogecoin (DOGE), as well as other cryptocurrencies and stablecoins like tether (USDT) to its payment options in June this year.
Don’t miss important articles during the week. Subscribe to blockbuild weekly digest for updates.