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Crypto Users Flocking to LocalBitcoins to Buy BTC, Company Reports 135,000 New Users Per Month

November 20, 2019

Sebastian Sonntag, the CEO of LocalBitcoins, a leading peer-to-peer (P2P) Bitcoin (BTC) exchange, reveals that the platform consistently adds around 135,000 new users each month. He says LocalBitcoins aims to “bring Bitcoin everywhere” by making services available to as many Bitcoin traders as possible throughout the world. 

Sonntag, whose comments came during a recent interview published by LearnBonds, clarifies that all altcoin transactions made via LocalBitcoins are processed by third-party services. While LocalBitcoins is not planning in the near future to offer wallets for cryptocurrencies other than Bitcoin, Sonntag says that Ether (ETH), XRP and Litecoin (LTC) may be used as payment for purchasing and selling Bitcoin (BTC) on the platform.

Commenting on future improvements to LocalBitcoins, he remarks,

“[We] enabled multiple simultaneous open trades to make trading faster and more convenient… LocalBitcoins is restructuring internally, and one of the priorities … will be to … review the users’ concerns and requests, so we can evaluate what are the most needed features and progressively introduce more customer-facing improvements during 2020.”

Traders around the world using the platform continue to smash records with recent all-time-high trading volumes set in Argentina and Venezuela, according to data compiled by Coin.dance, as the number of blockchain wallet users reached a high of 43.5 million this month, according to data compiled by Blockchain.info.

In comparison to LocalBitcoins, leading US exchange Coinbase has been averaging 500,000 new users per month, according to data compiled in July by crypto entrepreneur Alistair Milne.

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.