In a move necessitated by new regulations on data protection, one of the most popular P2P crypto platforms is updating its terms of service. Headquartered in Helsinki, Finland, LocalBitcoins stated in a blog post that the move would increase transparency in how it provides its services and ensure that it’s compliant with the EU’s soon-to-be-enforced General Data Protection Regulation (GDPR). The new regulation will come into effect on May 25, and the platform has asked all its users to acquaint themselves with the new terms of service as well as the revised privacy policy by that date. ID To Be Required In Select SituationsPowered by WPeMatico
Just recently news.Bitcoin.com reported on traders who exchanged “significant” trade volume using the peer-to-peer platform, Localbitcoins, by receiving warnings to upload their identity before they could proceed trading. Now the Localbitcoins organization has updated its terms of service agreement which comes with a few new guidelines concerning ID verification and data retention. Also read: Markets Update: Cryptocurrencies […]
Over-the-counter Bitcoin trading has become a lot more popular over the past few months. By cutting out the middlemen and centralized exchanges, platforms such as LocalBitcoins are surging in popularity. It seems a new competitor may emerge very soon, as PayFair is scheduled to launch in the near future. This platform works similarly to LocalBitcoins, but seemingly requires no KYC procedure whatsoever. Can PayFair Make a Positive Impact? It is evident there is a growing demand to trade cryptocurrencies for fiat currencies without going through a centralized exchange. Although the latter option is still quite popular, not everyone wants to go
The Localbitcoins markets of several nations have produced significant spikes in recent weeks, with the peer-to-peer (P2P) markets of Hungary, Peru, and Venezuela establishing new all-time highs for volume when measuring in trade in fiat currency. Also Read: Bitcoin in Brief Monday: Outage Downs Telegram, Bitcoin Shines on a Bank P2P Markets of Latin America Surge […]
This week as people hear about the peer-to-peer exchange Localbitcoins requiring identification for traders who deal in “significant” trade volumes, many of them are scouring the internet in search of decentralized exchanges that don’t require Know-Your-Customer (KYC) verification. One such trading platform called ‘Hodl Hodl’ launched its beta version this past February allowing traders to […]
According to a recent thread on Reddit, Localbitcoins traders allegedly have to verify their identity if they are trading “significant” volume using the peer-to-peer platform. Also Read: Meet Memo: An On-Chain Social Network Built on Bitcoin Cash Localbitcoins ‘Error’ Involves Know-Your-Customer Verification Bitcoin users are frantically searching other exchanges today that don’t require Know-Your-Customer (KYC) verification. […]
The trading volume for Tanzanian bitcoin pairings on Localbitcoins has spiked to establish a new record high this week. The sudden spike in volume has occurred after several months of increasing warnings regarding virtual currencies from Tanzania’s central bank. Certain South American markets have also seen spikes in trading activity, with Peru and Vietnam also […]
The volume of P2P bitcoin trade in Canadian dollars has increased significantly since leading banks in the country imposed bans on crypto-related transactions. Toronto-Dominion Bank, the Royal Bank of Canada, and more recently the Bank of Montreal have limited or prohibited the use of their services and products to acquire cryptocurrencies. As a result, the […]
In bitcoin’s earliest days, you could count the number of cryptocurrency exchanges on two hands: Mt Gox, Bitstamp, Btc-e, Vircurex and a handful of others, as well as P2P exchange Localbitcoins. Today, the landscape has changed dramatically. There are now over 500 exchanges to choose from – and that number is growing with every passing […]