LocalBitcoins eliminates minimum balance requirement to post Bitcoins for sale ads
Localbitcoins, BTC’s leading volume P2P trading platform has reported that it has eliminated the minimum balance in its wallet to sell ads on its platform.
Bitcoin’s online consumer trading platform, „LocalBitcoins“, recently announced on its official twitter account that it has removed the minimum required amount of 0.04 BTC to sell Bitcoin ads.
The Latin American market’s leading P2P Bitcoin exchange no longer requires a minimum amount to sell ads. It’s worth mentioning that previously this platform maintained a policy of requiring a minimum of 0.04 Bitcoins in the platform’s portfolio, so that users could publish their BTC ads.
Now, recently, according to the platform’s social networks, it is now possible to sell BTC ads, as long as the user has a balance in the Bitcoins internal wallet, without the previously established requirement being a limitation.
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LocalBitcoins is the largest peer-to-peer (P2P) service that helps match Bitcoin buyers and sellers who live near each other, allowing for face-to-face and online transactions. The Exchange currently operates in 248 countries and 13,774 cities, based in Helsinki, Finland.
This platform also provides an escrow service that is used to ensure the fairness of each transaction made by users.
Recently, Block-Builders.de’s portal reported that compared to last year, Bitcoin’s global trading volume had a drop of up to 37 percent. From the beginning of March to July, BTCs worth £337,300758 were traded on the LocalBitcoins platform.
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However, in some Latin American countries, they have registered a strong growth in the use and transfer of the currency, becoming increasingly important in this region, and is living up to its reputation as a currency in crisis.
Countries like Argentina, Brazil, Chile, Colombia, Venezuela and Peru, have registered a significant increase in Bitcoins‘ trading activity throughout this year.
Localbitcoins Policy Updates
This most popular peer-to-peer exchange site of the bitcoin ecosystem, in recent months has taken steps that have been highly questioned within the ecosystem. One of them is the withdrawal of the option of personal exchanges for cash, without notice.
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The measure also included, the requirement of verification of information by levels according to the volume of trade to be transacted, which in the first instance, was allowed without the need of KYC (Know Your Customer), but because of the latest AML regulations, the exchange changed its policy in order to satisfy the regulatory requirements in the Finnish jurisdiction.
Under this context, the platform recently announced that it will not require a minimum trading fee, which has generated a great support from the crypto community, becoming a great advantage for the platform that enjoys popularity and possibility to trade in almost all countries of the world.