Before we dive into this review, we should learn a little bit about Bitcoin Cash, and how it differs from BTC. BitCoin Cash is a ‘hard fork’ of the cryptocurrency bitcoin, and has been designed to help provide users with a currency that can be used to execute our daily transactional needs such as buying a cup of coffee, paying for a meal etc.
While not monetarily as powerful as BTC, it still holds enough market potential to be used widely as a means of payment in the current economic scenario.
What Is Local Bitcoin Cash?
Local Bitcoin Cash is a crypto exchange platform that allows users to discover people in the area who are also interested in Bitcoin cash trading. It allows for trades to occur either via escrow, or through a meetup. For starters, it lists all of the users in our vicinity who are in possession of Bitcoin Cash, and would like to trade them. The mechanics of how these trades work have been described below:
Bitcoin Cash Trade Through Escrow:
- Users should go to the search page and input their ‘criteria of purchase’. It should be ensured that at the end of everything, the “trade via escrow” feature is selected.
- Once done, users can choose the amount of Bitcoin Cash they would like to trade.
- If both of the participating parties have enough currency, the trade will be executed and completed within a matter of seconds.
BitCoin Cash Trade Via A Meetup:
- Again, users should go the search page and input their specific requirements (i.e trade volume, location preferred).
- Once all of the specific criteria has been mentioned clearly, users should select the “trade via meetup” option and click search.
- A list of all potential traders in the area will be displayed, and users can then accordingly meet up with them to finalize their purchase.
Local Bitcoin Cash Advantages
No Fees or Transactional Charges:
One of the biggest advantages of this platform is that it charges users absolutely no fee at all. Even escrows are performed absolutely free of cost.
No Trade Limits:
While many other trading services may have certain trade caps which can limit the amount of crypto assets we can exchange. However, through the use of LocalBitcoinCash, users are free to exchange any amount of currency they like.
This feature truly sets this platform apart, as it allows us to have a face to face interaction with our buyer/seller.
Fast and Effective:
All of the escrow transactions are executed instantly. All that is required is that both parties have enough funds in their accounts to go through with the trade.
There are encryption protocols set up within the framework, so as to minimize the risk of any currency loss or third party interference.
Using Local Bitcoin Cash
All one has to do to register for this service is visit the website, and complete the necessary formalities that have been outlined on the webpage. Local Bitcoin Cash is free for everyone to use, and owing to its friendly interface, it should not be hard for people to make use of this platform.
For any queries, or doubts regarding this product, customers are encouraged to get in touch with customer support by either emailing or calling them.