According to Bitcoin.com, the Local Bitcoin Cash trading platform is almost will be Launched on 4th June 2019.
Interestingly, Local.Bitcoin.com will let you buy and sell Bitcoin Cash (BCH) directly through a peer-to-peer marketplace.
Wondering what Local Bitcoin Cash can do for you?
Quick, simple trading
Local Bitcoin Cash Trading Platform lets you trade with users both locally and globally. Signing up is fast and, once you’ve created an account, you can start buying and selling BCH instantly.
Best buy & sell margins
Buying and selling BCH through the platform is much cheaper than cryptocurrency exchanges and other sites, so you can get the best margins on every trade you make.
Private and secure
Unlike with crypto-to-fiat exchanges, you can buy and sell BCH on our platform without sharing any personal details. Plus, our blind escrow means all your trades are totally secure.
Why choose Local Bitcoin Cash? Trusted BCH traders
Connect with a world of Bitcoin Cash buyers and sellers that you can trust. The platform user rating tool lets you read reviews from previous trades, helping you to find our most trusted users.
Fully non-custodial
Unlike cryptocurrency exchanges, the platform doesn’t ever store the coins you buy or sell. Instead, the platform encrypted blind escrow contract acts as the decentralized go-between for your trades.
Lowest trading fees
Payless to trade on our platform. The platform margins cannot be beaten by cryptocurrency exchanges and other sites, meaning you can buy and sell Bitcoin Cash for significantly lower fees.
How does Local Bitcoin Cash work?
1. View buy and sell listings
Browse existing listings from other users looking to either buy or sell Bitcoin Cash in-person or online. You can refine results by location, payment method, reviews, and more.
2. Start the trading process
Open a trade with an existing buyer or seller if you’ve found a listing that suits your budget. If not, create your own and publish it on our platform for other traders to see.
3. Complete your BCH trade
If you’re buying, send payment directly to the seller; if you’re selling, send Bitcoin Cash to our blind escrow. Once payment is received by the seller, the BCH is released to the buyer.
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How To Create Local Bitcoin Cash Trading Platform
Interestingly, the platform will be launched on 4th June in honor of the 30th anniversary of the Tiananmen Square protests.
In the meantime, you can create an account to familiarize yourself with the platform and add advance sell listings.
Click here to signup for the local bitcoin cash trading platform fast.
Local Bitcoin Cash Trading Platform Features
Fast: start trading instantly
Simply sign up to start trading Bitcoin Cash (BCH) instantly with both local and global users
Private: now and always
Trade on a fully private platform. We’ll never ask you to share personal details with us
Secure: end-to-end encryption
Buy and sell with total confidence since every trade is protected by our encrypted blind escrow
Trading opens in 12 days!
– The Local Bitcoin team.
Local Bitcoin Cash Trading FAQs
What is Local Bitcoin?
Local Bitcoin is a private peer-to-peer platform where you can find others who are interested in trading BCH for local currencies via a blind escrow smart contract.
Is this anything like LocalBitcoins.com?
It is a similar service, but we think it has several advantages over Localbitcoins.com. The biggest difference is we deal only with Bitcoin Cash. But we also have several key features that provide a more secure and private user experience. See the table below for some highlighted aspects of our platform.
| Local.Bitcoin.com | LocalBitcoins.com | |
|---|---|---|
| BCH | ✔ | ✕ |
| No KYC | ✔ | ✕ |
| No counterparty risk | ✔ | ✕ |
| Immune to surveillance | ✔ | ✕ |
| On-chain escrow service | ✔ | ✕ |
| Superfast exchanges | ✔ | ✕ |
| Self-custodial wallet | ✔ | ✕ |
| End-to-end chat encryption | ✔ | ✕ |
| Low transaction fees | ✔ | ✕ |
| User ratings & reviews | ✔ | ✔ |
Are there any fees?
Local Bitcoin charges a 0.25% fee for the maker (the person who placed the offer listing) and 0.75% for the taker (the person responding to the offer). The reason for the significant discount on makers is because we want to encourage people to place offers.
What are those weird-looking circle icons?
We call these “identity icons”. When sending BCH to a specific address, you can use them to ensure that you have copied the address correctly. The smallest difference in a typed address will result in a completely different identity icon.
Using Local Bitcoin
Is it possible to change my username?
We currently do not allow changing of usernames.
Why do buyers and sellers see different prices?
Offer and trade rates on Local Bitcoin have fees priced into them by default, which is why buyers and sellers will see a different rate for the same trade. The prices you see are exactly what you should expect to receive after Local Bitcoin’s fee.
Local Bitcoin charges a 0.25% fee for the marker (the person who placed the offer) and 0.75% for the taker (the person responding to the offer).
Why don’t we require users to verify their identity?
The answer is very simple: Local Bitcoin is a classified advertising service. We merely help individual buyers and sellers find and communicate with each other. Unlike custodial exchanges, Local Bitcoin never “accepts and transmits” nor “buy or sell” fiat or virtual currencies on behalf of users.
Therefore, Local Bitcoin is not required (nor interested) in collecting sensitive identifying information about users. At Local Bitcoin, we value your privacy and autonomy.
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How is my privacy being protected?
There are several precautions taken by Local Bitcoin developers when designing the platform. Here are the most important ways you are protected:
> End-to-end message encryption
> Messaging forward secrecy
> Financial forward secrecy
> Signature system
How are messages end-to-end encrypted?
A non-technical explanation: Every message sent via Local Bitcoin is end-to-end encrypted in your browser. No one — including the Local Bitcoin team — can read those messages.
To Local Bitcoin’s server, your message looks like a bunch of random indistinguishable numbers. Once the keys used to encrypt the messages are destroyed, that conversation is gone forever.
The only time in which our staff can read messages is when the key required to decrypt them is volunteered by one of the parties (this is done in the case of a dispute).
A technical explanation: (Our protocol is heavily influenced by Open Whisper System’s Signal Protocol, which is a trusted open-source standard endorsed by Edward Snowden and used by Whatsapp, Facebook, and Google Allo.)
Every Local Bitcoin user preemptively generates hundreds of signed key pairs and sends them to the Local Bitcoin server. These are called “maker keys” and they allow people to securely initiate trades, send secure messages, send BCH to and deploy smart contracts with accounts that are offline while maintaining forward secrecy.
The main purposes and benefits of the maker keys are:
1. Full end-to-end encryption – Nobody can read your messages except you and the person you are trading with.
2. Asynchronous – Parties can send messages and BCH to one another even when the other person is offline the entire time.
3. Identity verification – Each pre‐key is signed by the identity key of its owner so that you know you are always talking to the right person.
4. Forward secrecy – Messages have forward secrecy, as once the key is deleted there is no way to recover it, even if you can replay the ciphertext.
5. Simple dispute resolution – Any party only needs to volunteer a shared secret to staff for us to read every message in the conversation.
Blind escrow –How does the escrow script work?
When the seller puts BCH in escrow, they are creating an on-chain Bitcoin Cash transaction. The transaction contains two relevant outputs:
1. Escrow output – This output can be spent by either the buyer or seller.
2. Fee output – This is the fee portion of the trade. If the trade is unsuccessful, the fee can be reclaimed by the seller; if the trade is successful, the fee will be swept by Local Bitcoin. Both outputs are P2SH addresses generated from Script templates developed by Local Bitcoin. You can view the annotated Script templates here: escrow script and fee script.
What if I don’t trust you? Bitcoin.com never takes custody of the BCH, even while it is in escrow. This is why escrow is called “blind escrow”, even though that term seems like an oxymoron. It is technically impossible for Bitcoin.com to spend the BCH in escrow. In the majority of transactions, Bitcoin.com is uninvolved, as both parties can complete the escrow on their own.
We only become involved when there is a payment dispute, and once involved we can only allow the BCH to be spent by the buyer or seller. This is possible using OP_CHECKDATASIG, which is only available in Bitcoin Cash. This type of on-chain escrow is impossible to do with Bitcoin Core.
What is the difference between blind escrow and multi-sig?
Multi-sig is another type of Bitcoin P2SH script that uses the OP_CHECKMULTISIG opcode. The difference between OP_CHECKDATASIG and multi-signature wallets is that the second party does not need to agree on how and when the BCH is sent.
The oracle (which can be the seller, buyer, or arbitrator) doesn’t have the ability to place conditions on the transaction. With a multi-signature transaction, not only must both parties agree on exactly how the BCH is spent, but both parties must be online at the same time to sign the transaction.
This is because both parties must sign the full transaction including all outputs and inputs. With a Script that uses OP_CHECKDATASIG instead, the oracle simply needs to give the winner a signature, which they can use at any time to unlock the BCH in any way they choose.
