Crypto-to-crypto exchange is becoming a new trend
Cryptocurrency marketplace added the ability to exchange cryptocoins with each other
The service will simplify the task for users and give them more financial freedom
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P2P cryptocurrency platform LocalCryptos decided that support for fiat-crypto was not enough and added the ability to exchange bitcoins for ether directly through its wallet.
The LocalCryptos platform announced the launch of a new service in conjunction with the ChangeNOW cryptocurrency exchanger. Previously, platform users could buy and sell cryptocurrency for fiat, now they have access to the crypto-to-crypto exchange function. For example, you can exchange Bitcoin for Ether without leaving your web wallet.
The built-in non-custodial web wallet currently supports Bitcoin (BTC), Ether (ETH), and Litecoin (LTC). The new function is activated by the “Exchange” button. The user selects the exchange currencies and indicates the desired amount. After confirming the real exchange rate, its coins are sent to the ChangeNOW platform where the conversion takes place. Then the amount is returned to the user’s wallet in the new currency. The operation takes place almost instantly and does not require additional efforts and costs from the holder.
Since the launch of P2P trading for Bitcoin in late November and Litecoin in June, LocalCryptos has seen rapid growth. With an ever-growing community and almost daily updates, LocalCryptos has become the world’s most popular decentralized P2P crypto market..
Read our in-depth guide on where and how best to buy Litecoin.
“LocalCryptos offers a direct bridge between the fiat world and the cryptocurrency world. However, until recently, these bridges did not connect individual cryptocurrencies. Integration with ChangeNOW corrected this situation, and allowed LocalCryptos to combine the digital coins available on the platform into a single ecosystem. Now users can not only buy and sell cryptocurrencies for fiat, but also exchange coins directly on the platform, “- commented the head of LocalCryptos Michael Foster..
The LocalCryptos service, formerly known as LocalEthereum, has existed since 2017 and is available in over 100 countries and is used by over 100,000 people.
BITCOIN HOLDERS *BEWARE* – THIS IS UNBELIEVABLE!!! – ETHEREUM *STILL* EXTREMELY UNDERVALUED!!?
Initially, the marketplace specialized exclusively in Ethereum, but after rebranding, two more cryptocurrencies were added to the product line – Bitcoin and Litecoin. The service works on the chain of a smart contract and, in fact, brings together buyers and sellers of cryptocurrencies who negotiate directly. And the platform itself provides a non-custodial system using an escrow account.
The competition is growing
LocalBitcoins remains the leader among P2P cryptocurrency platforms. Paxful is already breathing down the back of her head, and other competitors are making themselves known quite loudly. However, the P2P cryptocurrency exchange market is still in a gray area in most jurisdictions. Anonymity and lack of regulation is one of the main competitive advantages for such platforms. However, they are also gradually losing ground to regulators concerned about the wide opportunities for money laundering and financing illegal activities..
Top cryptocurrency exchangers in our article at the link!
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