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Top 5 Most Popular Crypto Exchanges

Stefan by Stefan
19/11/2019
in Bitcoin News
Reading Time: 2 mins read
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ETH And BTC Consolidate, Leading Cryptocurrencies Jump, bitcoin, eth, market
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One of the largest competitors of the P2P Bitcoin (BTC) exchange LocalBitcoins has taken more of its market share as the Finnish company seeks regulatory compliance. The latest cryptocurrency news show that LocalCryptos adds support for Bitcoin as well as Ethereum.

In what the company described as a pivotal step of adding support for both cryptocurrencies, LocalCryptos (formerly LocalEthereum) announced the following in a blog post:

“The platform is a one-stop shop for fiat-to-crypto ramps worldwide, beginning with BTC and ETH.” Later on, the blog post describes this as a “large milestone.”

After LocalCryptos adds support for BTC and ETH, the company said that in the future even more cryptocurrencies will join its offering.

“LocalCryptos will list some of the most popular Ethereum-based tokens over time. We’ll develop a new smart contract to handle ERC20s, and, in the more distant future, ERC721s,” the exchange said.

Meanwhile, what’s interesting is that this move comes roughly a week after LocalBitcoins announced its registration with regulators in the home country of Finland. This is part of a multi-year scheme to formalize its compliance – we can now see that LocalBitcoins is now an official virtual currency provider in the eyes of the Finnish Financial Supervisory Authority or FIN-FSA.

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Executives have so far phased out a lot of ways of trading on LocalBitcoins without revealing the identity of the trader. Cash trades are now banned and ID submission is obligatory. By contrast, LocalCryptos adds support for BTC and ETH and stays away from such requirements, operating as a non-custodial resource under which no financial liability is taken.

Furthermore, the setup will allow the platform to retain features which LocalBitcoin does not have. When cash trades disappeared, LocalCryptos made the most of the decision and saw that it is a major PR opportunity on social media.

There are other operators in the space which also saw a surge in popularity during the change which occurred in June this year.

Meanwhile, the latest Bitcoin and Ethereum news show that both of the cryptocurrencies are vulnerable in today’s trading. Ethereum (ETH) is trading at a price of $177 in a dump of 4.10% while Bitcoin (BTC) has lost 4.
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52% and is now below $8,200.

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DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at editor@dcforecasts.com

Tags: bitcoin and ethereumbitcoin ether newsbitcoin listedbitcoin vs ethereumbtc and ethbtc vs ethlocalbitcoinslocalbitcoins newslocalcryptolocalcryptoslocalcryptos support
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Stefan

Stefan

Stefan has been writing articles for DCForecasts since 2016 in-house full time. As one of our main cryptocurrency writers, he focuses on covering the latest cryptocurrency news, technical charts, price analyses of coins and press releases. When he is not exploring and covering the latest topics in crypto, you can find Stefan playing basketball, tennis or cycling.

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