Bitcoin Cash (BCH) traders in China, India and Pakistan are taking a sigh of relief after the launch of Local.bitcoin.com. Cryptocurrency trading was banned in all three Asian countries housing thousands if not millions of traders.
Anonymous Bitcoin trading platform Local.Bitcoin.com has gathered over twenty-two thousand users since it’s launch on the 4th of June 2016.
Local.Bitcoin.com is a peer-to-peer network allowing anonymous transactions between users across the globe including the countries where cryptocurrency trading is banned such as China, India and Pakistan.
The platform is reporting to have completed over one thousand Bitcoin Cash (1000BCH) worth of transaction within the first twenty-five days of its inception and the cash payout options are helping their customers make trades in cryptocurrency.
The p2p trading network allows users to trade with various options that include wire transfer, and payment gateways such as Paypal and Skrill.
However, if a trader is looking for complete anonymity they can opt for a person-to-person trade within their country of origin.
While on the other hand, users looking to outclass their governments can simply withdraw their money in fiat through Western Union, or any payment gateway since remittance laws are not strong in most of the countries where cryptocurrency trading has been banned.
The platform is in its early stages, however, the results show that the cryptocurrency enthusiasts across the globe are taking the opportunity to use the platform since it removes the exchange transaction fees.
However, the reliability of such trades cannot be gauged at the moment since cryptocurrency is a world of money as much as a world full of scammers.