LocalBitcoins, a Bitcoin Peer-To-Peer Exchange Launches Its Mobile App

Kavya  |  Oct 26, 2021

LocalBitcoins, a Bitcoin peer-to-peer Bitcoin trading platform, announced the launch of its mobile app today.

According to a press statement, the software is already available for download on Android, with an iOS version in the works. 

The iOS app will not be available until later this year, according to the business.

LocalBitcoins Launches Its Mobile App

LocalBitcoins, which was founded in 2021, has been a pioneer in offering a platform for Bitcoin trade in emerging regions. 

It presently has a large lead over up-and-coming competitors such as Paxful and Binance P2P in the peer-to-peer trading arena in Latin America and Russia, for example. 

In Russia, for example, dealers switched fewer than 5 BTC on Paxful last week, yet LocalBitcoin users transacted more than 40 BTC within the same time.

Until recently, LocalBitcoins dealers had to utilize a web browser and a less-than-user-friendly interface to access the site. 

Third-party apps that sought to leverage the LocalBitcoins market were also unsuccessful due to security concerns.

Paxful and Binance P2P, on the other hand, provide Android and iOS applications with user-friendly interfaces and features that enhance the entire user experience, such as a cryptocurrency wallet for Paxful and spot, peer-to-peer, and futures trading functionalities on the Binance app.

"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," said Jukka Blomberg, chief marketing officer of LocalBitcoins.

The App Appears to Offer the Same Functionality As the Platform's Desktop Edition

The app looks to offer the same functionality as the platform's desktop edition. 

t will offer support for 190 countries, over 100 payment methods, a Bitcoin wallet, biometric security, fee-free user-to-user transactions, and multi-language user assistance.

The peer-to-peer Bitcoin market is thriving, particularly in locations where spot trading is limited or illegal. 

Anacoinda, a peer-to-peer market analysis website, reported 32,373 peer-to-peer trades on LocalBitcoins in the previous 24 hours, worth around $10.5 million.

 

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