The first truly decentralized P2P crypto marketplace, CryptoLocally, just made BTC available for trading on their community-run platform. This comes at a time when global interest around Bitcoin is resurging. The oldest and most recognizable digital asset is on target to hit another all-time-high these coming months. With many big and established financial institutions willing to take up positions on BTC now this bullish trend is likely to continue.
CryptoLocally is a smart escrow peer-to-peer trading platform. It is becoming the leading choice for many P2P traders looking for a trading venue that is fast, simple, and decentralized. They have prioritized listing tokens that are scalable, secure, and cost-effective. These include EOS, TRON, BNB, WAX, among others.
CryptoLocally became the first truly decentralized peer-to-peer exchange when it launched GIVernance, a new governance sharing model that allowed its GIV token holders to submit proposals and vote on them. The very first proposal the community acted on was the inclusion of native BTC on its platform. The overwhelming votes of the community to support the proposal illustrates the importance of adding BTC and underscores the enthusiasm of the community to have native BTC on the platform.
CryptoLocally previously launched Binance chain-based Bitcoins dubbed as BTC (BEP2). It allowed users to indirectly own BTC; its transaction fees are independent of network congestion; and was more scalable. While transactions are technically cheaper and faster than BTC (native), BTC (BEP2) has not yet achieved the same level of acceptance as native BTC has.
Native BTC support will unlock the massive market of Bitcoin P2P trading. This means there will be more users, trades, and volume on CryptoLocally.
Buying BTC will follow the same simple and basic standard procedures existing users would be familiar with. Like any other digital asset traded on CryptoLocally, BTC uses non-custodial P2P smart contract escrows to help secure each and every trade.
- Select BTC as the cryptocurrency to trade.
- Search and open an offer, then agree on the terms.
- The seller funds the unique smart contract escrow
- Once the escrow is funded, the buyer sends payment directly to the seller.
- Upon receipt of payment, the seller authorizes the release of the escrow.
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