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The P2P Bitcoin Exchange, Localbitcoins Launches Mobile App.

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Bitcoin peer-to-peer (P2P) exchange LocalBitcoins has launched a mobile app for iOS and andriod devices the company said in an official statement .The application seeks to facilitate bitcoin trading as users can use their phones instead of a computer.

“During 2020, LocalBitcoins welcomed 1.7 million new customers from 189 countries  most using mobile devices,” shared Jukka Blomberg, LocalBitcoins’ chief marketing officer. “Our new mobile app shows our commitment to our global userbase and enforces LocalBitcoins’ founding idea of Bringing Bitcoin Everywhere.” the statement reads.

The app supports over 170 countries and over 100 payment methods and offers customer support in more than ten languages. In August, LocalBitcoins announced that fees for deposits and transactions between wallets in its platform would be free.

LocalBitcoins remains essential for a set of use cases. In Nigeria, for instance, P2P bitcoin trading volume surged after the country’s central bank banned regulated financial institutions from dealing with bitcoin  effectively cutting off a significant on-ramp for bitcoin purchases.

LocalBitcoins quickly became a popular bitcoin trading platform because it was lenient on identity verification procedures, as the company isn’t a money transferring firm. Users can transact with each other, leveraging the venue only to intermediate the process of matching buyers and sellers. Cash was a popular payment method in the beginning as it allowed people to purchase bitcoin pseudonymously with a local seller  hence the platform’s name.

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