Is Bitcoin.com Launching A Peer To Peer Crypto Platform To Rival LocalBitcoins A Big Deal?
Bitcoin.com Will Launch P2P Platform Similar To Localbitcoins.com
The Bitcoin.com portal, the cradle of Bitcoin Cash, decided to launch its own P2P platform for the purchase and sale of BCH, under the same principle with which the popular site Localbitcoins.com currently operates where people directly exchange cryptocurrencies among other digital alternatives.
The site is named Local.bitcoin.com and the trading will be open in 11 days from the time of writing the publication. The benefits of the platform are that it will be a completely private peer-to-peer exchange, unlike its similar one and for now, it has a registration deadline for new users of June 4, 2019.
Roger Ver, the brilliant mind behind Bitcoin Cash and architect of the new platform highlighted in a tweet in his personal account the comparative advantages between the two platforms. It highlights not only the privacy but also the speed of transactions, custody and low fees that characterize BCH compared to Bitcoin Core (BTC) and that will be logically incorporated into the new project.
— Roger Ver (@rogerkver) May 21, 2019
Currently, given the rising price of BTC, the scalability problems have become evident and even more so the high cost of fees that characterize BTC every time there are congestion problems in its network. BTC currently has an average TX fee of $ 3.33 and BCH $ 0.0018, figures put in context by Roger himself in his personal account through a series of tweets to highlight the benefits of the new P2P platform.
BTC Average TX Fee: $3.33
BCH Average TX Fee: $0.00
— Roger Ver (@rogerkver) May 18, 2019
To access the registration of new users on the Local.bitcoin.com platform, you must click on the following link https://local.bitcoin.com/ and click on ‘Create an account'.
Then you will start to see the kindness of security and anonymity that characterize this platform, where from the first moment the site generates a random private key in a random way by means of the cryptographic function AES-256-CBC, being explicit that the team of the platform you will not be able to recover your keys in case of loss.
In general, the registration is simple and interactive, where the platform in addition to the loading speed also allows you to configure an offer-sale in simple steps, very similar to localbitcoins.com.
LocalBitcoins, one of the most popular BTC global trading platforms, began this week to restrict user operations in the Islamic Republic of Iran, amid rising tensions between that country and the United States, according to a report by the official statement of the company.
While there are no explicit reasons for this decision on the part of the company, it is presumed that US sanctions against Iran come in line with the platform's decision to restrict access and use of its services to the inhabitants of the Muslim country.
In view of this, residents of countries like Venezuela, have begun to ask if they will be next on the list, given a similar trend between the South American country and the United States.
Given the uncertainty, in the official Telegram group of the P2P platform of BCH has begun to see the massive influx of residents of that country to join the new option that is about to be launched.