The popular Bitcoin exchange wallet and app, LocalBitcoins, is finally available for iOS devices! This exciting launch comes just three weeks after Bitcoin Markets announced a mobile app for Android users.
LocalBitcoin Marketing Director, Jukka Blomberg, spoke about the success of the first launch. Blomberg shared that the Android app has received a lot of great reviews. He also shared that the Android app has had thousands of installs.
The chief marketing officer said the company welcomed 1.7 million new customers across 189 countries. Most of them are using mobile devices. He also noted that the launch of the app shows the company’s commitment to a “global user base”. Through the app, the LocalBitcoins team aims to “Bring Bitcoin Anywhere”.
What are the main features of the LocalBitcoins app?
Through the LocalBitcoins app, users can trade Bitcoins from anywhere safely and quickly. The app is supported in more than 170 countries. It is important to note that the application supports most of the global currencies.
In addition, the LocalBitcoins app supports over 100 payment methods. The app not only has two-factor authentication, but also biometric authentication to ensure user security.
In terms of affordability, Bitcoin wallets are free. Furthermore, there are no deposit fees and no transaction fees between wallets on the platform. 1% deposit fee from advertisers and withdrawal fee based on BTC blockchain fee.
As for accessibility, the app has localized and quick customer support. Best of all, 24/7 customer care support is available in more than 10 languages. I mean, there’s nothing to love about this app?
Jeremiah Kangas started LocalBitcoins in 2012. At the end of 2012, Kangas implemented an escrow system to the market. The escrow system refers to the use of a third party. The third party holds the money or property until both parties fulfill the requirements of their contract. Then one party can transfer the property to another party.
LocalBitcoins’ first revenue streamed in early 2013. The platform, which is the world’s leading peer-to-peer Bitcoin exchange, has over 29,536 successful transactions in a single day.
In 2018, LocalBitcoins was listed as Finland’s best financial performing company. The company’s mission is to promote financial inclusion. The company will achieve this by enabling secure, fast and easy global trading, storage and transfer of Bitcoins. LocalBitcoins headquarters is based in Helsinki, Finland.
Over the years, LocalBitcoins has become a popular trading platform due to its leniency towards identity verification procedures. However, the company began to comply with new regulations set forth by Finland. As of March 2019, users are required to submit personally identifiable information (PII).
Finally, the company increased your know-your-customer (KYC) requirement in August. This has increased security on the platform. However, this action has discredited the platform in the Bitcoin anonymous transaction space.