Bitcoin.com is introducing a service facilitating the P2P trading of local currency for BCH, Local Bitcoin Cash. The new feature will launch soon and users can directly exchange BCH without KYC requirements.
In recent years, digital currencies became increasingly popular and way more accessible than in their early days. As the industry mature, Bitcoin.com has emerged into an extensive Bitcoin-themed web portal providing various services and resources that reinforce crypto accessibility. It is now pleased to announce the launch of Local Bitcoin Cash, which will advance its mission to encourage economic freedom to all by introducing them to the tremendous advantages of BCH.
Local Bitcoin Cash consists of three key ingredients that make it stand out from most P2P exchanges. Firstly, it will prioritize privacy and users do not have to undergo KYC verification. Secondly, it will offer end-to-end user side encryption, which allows only the users to view and decrypt their messages. Lastly, the service will never touch users’ funds like in its noncustodial Bitcoin.com Wallet.
The trading platform will let users see who buys and sells so “offers” may be considered. Anyone can post a bid to purchase or sell BCH, and all offers can be filtered by location, currency, popularity, and payment method. A variety of payment methods will be accepted, from bank transfers to gift cards.
After finding the desired proposal, users should open trade with anyone on Local.bitcoin.com, select the amount of BCH they will buy/sell, and then lock the rate in. Traders can make the exchange upon reaching an agreement. Payment details will always be discussed through end-to-end encrypted messages. The BCH then goes into an escrow account and will be released to the buyer after the seller confirms payment.
BCH adoption and accessibility are among the main goals of Bitcoin.com and OTC platforms are a private way to buy digital currencies. In addition, not everyone can access a local trading exchange so in some nations P2P platforms are the sole way to purchase digital assets. Several payment methods extend cryptocurrency penetration even deeper since the majority of online exchanges provide limited funding options.