Bitcoin.com Will Feature a Privacy-Focused Local Bitcoin Cash Peer to Peer Crypto Exchange
A new Bitcoin Cash (BCH) exchange will start to work on Bitcoin.com, the recognized news site for Bitcoin and virtual currencies. The portal will be introducing a feature that is called Local Bitcoin Cash and it facilitates peer-to-peer trading of the local currency against Bitcoin Cash. Users will be able to exchange their BCH without having to comply with KYC regulations.
New BCH P2P Exchange Launches On Bitcoin.com
Virtual currencies have grown all over the world since they were launched to the market, starting with Bitcoin (BTC) ten years ago. Nowadays, if users want to purchase digital assets they have to do it through platforms that request private information from users. This information includes private data such as address, name, surname and even a picture of the passport or an ID.
Nonetheless, Bitcoin.com decided to launch a new service called Local Bitcoin Cash and that will work as a peer-to-peer exchange for the community. This will help the market move towards economic freedom and protect users’ privacy at all times.
According to the official report about Local Bitcoin Cash explains that there will be three key features that will make the exchange different from other peer-to-peer exchanges. The most important thing about this exchange is that it will be focusing on privacy. Users do not need to provide any private information to trade Bitcoin Cash. Furthermore, the platform will also be providing end-to-end user-side encryption. After it, when users want to make a transaction, it will not be necessary for the platform to touch users’ funds.
The platform will be displaying the available offers to users. Interested individuals can post a bid to buy or sell BCH and the offers will be filtered by payment method, currency, location and also popularity. It might be possible to pay with bank transfers, gift cards and other payment methods for people to purchase and sell coins in the most convenient way.
As soon as there is an offer that fulfills users’ expectations, it can simply open trade with him and arrange the payment. After the traders agree on the exchange terms, BCH goes into an escrow account and once the payment is confirmed the BCH is released to the buyer.
Bitcoin Cash is growing and expanding in the market. Roger Ver, the owner of Bitcoin.com, has several times mentioned that he wanted to have his own cryptocurrency exchange based on Bitcoin Cash. This time, Bitcoin.com is allowing individuals to trade Bitcoin Cash all over the world without KYC regulations and in a fast and easy way.
At the time of writing this article, Bitcoin Cash is being traded around $154 and it has a market capitalization of $2.73 billion.