Peer-to-peer cryptocurrency marketplace Localbitcoins has announced the launch of a new mobile app for its global user base. The software is designed for devices running Android. The app was launched in response to a growing number of mobile merchants.

P2P Crypto Market Localbitcoins Offers Users Android App

The popular P2P crypto exchange Localbitcoins has showcased a mobile app for traders around the world. The app was developed for Android users and according to an announcement posted on Monday, it has already registered thousands of downloads. Work is also continuing to create an iOS version, the market assured.

The Helsinki, Finland-based company said it was launching the app after signing 1.7 million customers in 2020, most of whom used mobile devices to access its platform. Quoted in the press release, Localbitcoins Marketing Director Jukka Blomberg commented:

Our new mobile app shows our commitment to our global user base and applies the founding idea of ​​LocalBitcoins to bring Bitcoin everywhere.

The app facilitates crypto buying and selling in 190 countries, detailed exchange, supporting “almost all world currencies” and over 100 payment methods. Users are offered a free bitcoin wallet while security has been improved 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 the Bitcoin blockchain fee.

“Bringing Bitcoin Everywhere is about inclusion and accessibility. We are constantly listening to the needs of our customers around the world and constantly aim to improve and evolve our service to meet them, ”Blomberg also said, adding:“ Many of our customers have been hoping for a mobile application by option and accordingly we have developed one.

In the years since its inception in 2012, Localbitcoins has grown into the world’s first peer-to-peer crypto exchange by facilitating the over-the-counter trade of bitcoin (BTC) with local fiat currency. In June of this year, the platform added bitcoin cash (BCH) and dogecoin (DOGE), among other cryptocurrencies, and stablecoins like tether (USDT) to its payment options.

Localbitcoins allows users to post advertisements on its website, offer an exchange rate for their digital assets, and indicate the desired payment methods that buyers can use to acquire the coins. In 2019, the P2P market announced the introduction of new identity verification rules and the elimination of in-person cash transactions, forcing some of its customers to seek alternative services.

Paxful, a major competitor to Localbitcoins, has a mobile wallet app that allows users to buy, send, and receive BTC, ETH, and USDT. Other peer-to-peer crypto exchange options include Hodl Hodl, which last year enabled users of the Bluewallet app to purchase bitcoin through an integration with its platform, and Localcryptos, which added support for BCH transactions in September.

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