P2p is the new trading strategy for Africans and Nigerians following the Ban on cryptocurrencies by the Central bank of Nigeria. The ban has increased the awareness and adoption of Bitcoin and cryptocurrencies in general.
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Localcoinex, a p2p Exchange built-in 2019 by Dan Holdings ltd. Led by its CEO Daniel Oyekan but was not launched because it was not found essential but with the new CBN policy.
Dear Local Coin Exchange (LCX) Community,
It is our pleasure to announce the successful launch of Local Coin Exchange today
We are currently 1 month of fee-free trading to all users till the 1st of March!
— Local Coins (@localcoinex) January 31, 2019
According to Danny Oyekan who made the comeback tweet on Feb 8th, 2020;
“2 years ago we built @localcoinex a p2p exchange and didn’t launch it due to lack of demand for it. I am proud to announce that @DanHoldingsltd. We will be launching the p2p exchange both as part of @blockfinex-io and @telechatapp and @coinsappglobal”
2 years ago we built @localcoinex a P2P Exchange and didn't launch it due to a lack of demand for it. I am proud to announce that @DanHoldingsltd will be launching the P2P exchange both on the web as part of @blockfinex_io and @telechatapp and @CoinsAppGlobal.
— Danny Oyekan (@futtrillionaire) February 8, 2021
The exchange has a list of available coins to be tradable on the exchange as soon as it is launched in the coming weeks. Modifications are ongoing to make the user experience Perfect on the exchange.
The following Assets will be available immediately after the launch of @localcoinex takes place
A peer-to-peer (P2P) service is a decentralized platform whereby two individuals interact directly with each other, without intermediation by a third party. Instead, the buyer and the seller transact directly with each other via the P2P service providers.
The primary goal of peer-to-peer networks in crypto trading is to buy and sell bitcoin and other cryptocurrencies without interference from a bank or any financial institution.
This is where P2P Exchanges like Localcoinex come in to provide specific services and serve as Escrow(Middle man) to eliminate trust issues between traders.
The CEO was encouraged to integrate the exchange into a Mobile app for easy access.
A good response. Coins app team always ready. But try integrate it to mobile for easier accessibility
— Edumilan (@eduseedorf) February 8, 2021