Eh, there's no urgency on robosats and too many bugs still. On localcryptos or localcoinswap the "online" status is actually accurate and trades can be completed within 5-10 mins, not 8 hours v
Actually, it was more likely that the introduction of more (and better) options for fiat on- and off-ramps (e.g., centralized exchanges expanding globally) that had displaced the need to do P2P trading for many.
LocalBitcoins was the first exchange for many bitcoin OGs -- especially for those in countries where there was no bitcoin exchanges. At some point LocalBitcoins required Identity verification / KYC, and they then lost a ton of traders at that period of time to Paxful. Paxful then later also began to require Identity verification / KYC. And though Paxful lost a number of privacy-conscious traders too, they managed to increase and hold (until this past year) their greater trading volumes.
Today, there's simply a lot more competition as well with other competing P2P trading platforms.
Wow, missed that about Localcryptos... I was using them when they were still localethereum and eth gas was no more than 5 cents USD in a block within 60 seconds. I did get the email from localcoinswap recently about finally going fully non-custodial.. their custodial withdrawl fee for on chain BTC was ridiculously high, like 6k sats.
I wonder who will buy this domain and redirect it to an exchange or a p2P service, should be well worth the investment in bagging all that redirected traffic
Were they not able to check up with the market growths - both bullish and bearish times? It was one of the first places I was advised to buy bitcoin on. Goodbye to first beginnings.
It was an OK service, but Robosats is streets ahead.
Eh, there's no urgency on robosats and too many bugs still. On localcryptos or localcoinswap the "online" status is actually accurate and trades can be completed within 5-10 mins, not 8 hours v
LocalCryptos is dead, Jim.
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this is the only other time i’ve heard someone say streets ahead, thank you for bringing it back.
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Paxful drank their milk shake!
.
https://i.postimg.cc/HH4xqNWk/ALL.png
LocalBitcoins global volume
Source: https://coin.dance/volume/localbitcoins
.
https://i.postimg.cc/Qh36tFrq/ALL.png
Paxful global volume
Source: https://coin.dance/volume/paxful
Actually, it was more likely that the introduction of more (and better) options for fiat on- and off-ramps (e.g., centralized exchanges expanding globally) that had displaced the need to do P2P trading for many.
LocalBitcoins was the first exchange for many bitcoin OGs -- especially for those in countries where there was no bitcoin exchanges. At some point LocalBitcoins required Identity verification / KYC, and they then lost a ton of traders at that period of time to Paxful. Paxful then later also began to require Identity verification / KYC. And though Paxful lost a number of privacy-conscious traders too, they managed to increase and hold (until this past year) their greater trading volumes.
Today, there's simply a lot more competition as well with other competing P2P trading platforms.
Person-to-Person bitcoin Trading Platforms
https://cointastical.github.io/P2P-Trading-Exchanges/
Yup, they failed to keep up with Lightning and instead bent the knee to KYC, good riddance
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We need DEX relays on Nostr. ASAP.
That is all.
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Good riddance. Localcryptos and localcoinswap were always the better options anyway.
LocalCryptos shut down a few months ago.
And LocalCoinSwap recently went non-custodial for all wallets / trades.
The beneficiaries of LocalBitcoins' exit will be Robosats (due to using LN), Bisq, LocalCoinSwap, and Peach (though Peach is still in closed beta).
Peach going OPEN beta early March! :)
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Wow, missed that about Localcryptos... I was using them when they were still localethereum and eth gas was no more than 5 cents USD in a block within 60 seconds. I did get the email from localcoinswap recently about finally going fully non-custodial.. their custodial withdrawl fee for on chain BTC was ridiculously high, like 6k sats.
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Robosats!
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O.O ups, "ongoing very cold crypto-winter" is this the real motive?
I was thinking the same thing. I am guessing there is something else besides "crypto-winter" pressuring them.
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They required KYC. Won't miss them.
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Tip of the Hat to them for: " You have 12 months to withdraw, however of course we encourage you to proceed withdrawing sooner. "
Very professional of them.
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Fortunatelly, there are better alternatives nowadays - HodlHodl for onchain and RoboSats for lightning.
Robosats works for on-chain aswell.
Only for buyer of BTC (using submarine swaps) not seller I think?
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Does Robosats have an escrow yet?
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This one hits home for me. Without LBC in China I may have never become a Bitcoiner
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I wonder who will buy this domain and redirect it to an exchange or a p2P service, should be well worth the investment in bagging all that redirected traffic
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I loved LocalBitcoins at some point, but then they went all KYC on me.
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See also another post, found here on SN, with an article in CoinDesk on this topic:
LocalBitcoins to Close, Citing Market Conditions
#133669
https://www.coindesk.com/business/2023/02/09/bitcoin-exchange-localbitcoins-to-close-citing-market-conditions [Archive]
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Decrypt article -
https://decrypt.co/120933/localbitcoins-shut-down-10-years-operation
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Were they not able to check up with the market growths - both bullish and bearish times? It was one of the first places I was advised to buy bitcoin on. Goodbye to first beginnings.
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