Localbitcoins Adds Bitcoin Cash and Other Cryptocurrencies as Payment Methods – Bitcoin News
Bitcoin cash, the BCH, and other cryptocurrencies have been added as payment methods in the LocalBitcoins marketplace, according to a blog post on the company’s website. The new payment methods include Bitcoin cash, Bitcoin Gold (BTG), Bitcoin Diamond (BCD), Bitcoin Atom (BCA), Augur (REP), and Stellar (XLM).
Bitcoin Cash (BCH) has been listed on the Localbitcoins bitcoin exchange for 24 hours now. This means that BCH can now be traded for fiat currency. Localbitcoins was the first platform to allow bitcoin users to buy and sell BCH, and has more than 100,000 users. The exchange is already using BCH to facilitate trades between traders.
The increase in the demand for cryptocurrencies has been significant in recent times, especially now that it is being used as a means of payment for daily transactions, like buying groceries or paying bills. As a result, there has been an increase in the number of online services that accept cryptocurrency payments. One such service is Localbitcoins, which is an online marketplace where users can meet and trade with others to buy and sell bitcoins. Localbitcoins currently accepts more than 300 different types of payment methods, including Visa and Mastercard, as well as online banking and PayPal.. Read more about coinbase and let us know what you think.
Localbitcoins, one of the world’s largest P2P exchanges, has added Bitcoin Cash and other cryptocurrencies as payment methods to buy bitcoins on its platform. This is a clear break from the company’s previous stance, which did not add any new payment methods and for a time only used bitcoin.
Localbitcoins adds Bitcoin Cash and other crypto currencies
Localbitcoins, one of the world’s largest P2P crypto-currency exchanges, now allows its users to buy bitcoins with other crypto-currencies, differing from its previous approach of only buying bitcoins. Last week, the company announced in a blog post that it now allows registrations with Tether (USDT), Polkadot (DOT), Cardano (ADA), Bitcoin Cash (BCH), USD Coin (USDC), Chainlink (LINK), and Dogecoin (DOGE) as payment methods. The exchange has also added several new fiat payment methods that can be used internationally, and others that can only be used in certain countries. The move represents a clear break from the traditional position of the company, which has only been interested in bitcoin since its inception, and allows arbitrage of altcoins on the platform, but not as directly as on a traditional exchange. Localbitcoins is one of the first P2P exchanges, and apart from the tightening of KYC measures regarding the use of the platform, little has changed. The user experience and website have also remained largely unchanged since its launch in 2012, and the platform still doesn’t have a mobile app.
One reason for this sudden change of heart could be the exchange’s loss of relevance in emerging markets like Venezuela, where it has gone from being the preferred way to buy bitcoin to just another good option in the market. The drop in sales seen in Coin Dance’s statistics is proof of that. This situation has been exacerbated by the emergence of a new alternative P2P market: Binance P2P, which is backed by the exchange and has attracted many traders and customers of Localbitcoins over the past two years. In addition, other less privacy-invading options have emerged, such as Bitcoin.com Local, where no KYC is required for direct P2P exchanges. The declining popularity of Localbitcoins may simply be a sign of the times, as there are now many other ways to obtain bitcoins other than direct P2P exchanges. However, P2P still has some key features that make it the primary way for many to buy cryptocurrencies, and Localbitcoins may be expanding its offerings and payment methods to meet the needs of its users. What do you think of Localbitcoin’s adoption of new cryptocurrencies as a payment method? Tell us what you think in the comments section below. Photo credit: Shutterstock, Pixabay, Wiki Commons Denial: This article is for information only. It is not a direct offer or invitation to buy or sell, nor is it a recommendation or endorsement of any goods, services or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author shall be liable, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services referred to in this article.Localbitcoins, a cryptocurrency trading platform, has announced that it now accepts Bitcoin Cash and other cryptocurrencies as payment methods. Localbitcoins users can now deposit these new cryptocurrencies, as well as Bitcoin, to their account through the company’s wallet app. Localbitcoins already allows users to exchange bitcoins, euros, dollars and pounds for their local currency equivalent using the platform. The news comes after Localbitcoins announced it would start to offer a peer-to-peer exchange for BCH, the hard fork of the original bitcoin.. Read more about is cryptocurrency legal and let us know what you think.
Frequently Asked Questions
What is the most promising Cryptocurrency other than BTC?
LocalBitcoins recently added support for Bitcoin Cash, Ethereum Classic, and Litecoin to its platform. This is a big step for cryptocurrencies, as it will now enable users to trade those assets directly with each other, rather than having to rely on other third-party platforms like Poloniex. It is no secret that we at darknet are huge fans of Bitcoin and are excited about the recent boost in its value. However, Bitcoin is still far from being the pinnacle of digital currency. Other, less-known coins have many advantages over Bitcoin. Today we are going to discuss 4 of the most promising ones calling for your attention.
Will Bitcoin halving affect Bitcoin cash?
Interchangeable with: Bitcoin has grown in popularity in recent years and for good reason. The peer-to-peer network has made transactions secure, anonymous, and private. It has also made the process of conducting transactions easier and much less time consuming. Bitcoin is also a global currency that can be used to purchase merchandise all over the world. One of the preoccupying issues about the halving of bitcoin’s block reward is whether it will have an effect on the price of bitcoin cash. The block reward reductions mean that miners will receive fewer coins with each new block. This means a miner will earn less from successfully mining a block and receiving the associated bitcoin cash reward. However, there are few indications that this will have a big impact on bitcoin cash’s price.
Is Bitcoin cash related to Bitcoin?
You may have heard of Bitcoin. It’s the unparalleled digital crypto-currency that is dominating the world of currency. And before you ask; no, we are not talking about the cryptocurrency that is currently out of stock in Target. That’s right; Bitcoin is still going strong, and now it is being used for a whole host of other online transactions. Darknet markets have started accepting Bitcoin payments, while Bitcoin ATMs have sprung up all over the world. Bitcoin Cash is the first hard forked version of Bitcoin that provides faster transaction speeds and cheaper fees. This is due to the usage of a new consensus rule called the “New York Agreement” that was created by ViaBTC, which is a Bitcoin mining pool. The New York Agreement lowers the block size limit to 8MB, also called a “block size split”. In order to have transactions occur faster, Bitcoin Cash uses a larger block size limit. The New York Agreement also has the effect of increasing the block rewards to a fixed amount of 12.5 for each block, rather than to a variable amount.
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