P2P Bitcoin Exchange LocalBitcoins Launched New Mobile App

The P2P Bitcoin exchange LocalBitcoins launched a new mobile app that is available on iOS and Android as we are reading more in our latest crypto news today.

The app is now available to download on iOS and Android according to the press release. Founded in 2021, LocalBitcoins played the lead role in providing the platform for BTC trading in emerging markets. It now dominates the peer-to-peer trading space in Russia and Latin America with a huge lead over the enhancing competitors like Paxful and binance. In Russia for example, the traders swapped less than 5 BTC last week on Paxful but LocalBitcoins users traded more than 40 BTC in the same time frame.

Before today, the P2P Bitcoin Exchange LocalBitcoins traders had to access the platform from a web browser and it didn’t have quite the user-friendly interface. The third-party apps that attempted to use the market but failed for security reasons. In contrast, Binance P2P and Paxful offer apps on iOS and Android with a user-friendly interface with features that make the overall user experience more robust like a crypto wallet for Paxful or the spot and peer-to-peer futures trading functions like on the Binance App.  Jukka Blomberg the chief marketing officer at Localbitcoins said:

“We are continuously listening to the needs of our customers worldwide, [and] many of our customers had been hoping for a mobile app as an option. And as a result, we developed one.”

The app seems to have the same functionality as the platform offering on the desktop version and it will support 190 countries with more than 100 payment methods, a BTC wallet, fee-free transactions, biometric security, and multi-language user support. The peer to peer BTC market continues to thrive in areas where the spot trading is restricted or prohibited so according to the data from peer to peer market analysis website Anacoinda, more than 32,373 peer to peer trades that were made on LocalBitcoins over the past day for a total of $10.5 million.

As recently reported, The peer-to-peer BTC exchange LocalBitcoins is expanding its offerings beyond just Bitcoin with goals to grow its customer base and adapt to new market conditions while still embracing the world of altcoins. LocalBitcoins announced that it will add support for DOGE which is Elon Musk’s favorite cryptocurrency and along with this coin, it added support for payments with Polkadot, Tether, Cardano, Bitcoin Cash, USD Coin, and Chainlink.