Localbitcoincash.org offers an escrow service so buyers and sellers can trade Bitcoin Cash (BCH) in a peer-to-peer fashion. The platform was launched in October 2017 in its beta stage and has seen a lot of changes since then. Localbitcoincash (LBC) pretty much offers the same services as its BTC counterpart Localbitcoins but also has a variety of other options for users. Since our last review, the website looks and feels completely different as the colors are now green and black in contrast to its older orange look. The front page shows a step-by-step walkthrough detailing how to use LBC alongside a list of buyers and sellers below this field.
The Localbitcoincash.org exchange.
LBC's Fiat and Crypto-to-Crypto Exchange
The sidebar to the left has a bunch of different options which include the fiat exchange where users can swap BCH for fiat currencies. Looking at the list of buyers and sellers on Localbitcoincash shows the platform seems to be getting a fair share of users. People from various locations all around the world are selling increments of BCH for their local currency. At the time of publication, prices range from the current spot market price found on online exchanges and some traders are selling for a few hundred more per BCH.
The Localbitcoincash.org fiat exchange.
The peer-to-peer LBC platform also has a crypto-to-crypto exchange that operates just like Shapeshift or Changelly but without fees.
The peer-to-peer platform also has a crypto-to-crypto exchange that operates similarly to Shapeshift, and Changelly.
Peer-to-Peer Escrow Shopping
Similarly to the operations of the aforementioned platforms, LBC gives registered users a deposit and receiving address so they can swap BCH for cryptocurrencies like BTC, Dash, Ethereum, Smartcash, Steem, and more. Under this feature on the sidebar is the send BCH by email service which allows users to easily send BCH to someone in this mannner. Furthermore, on May 30, the LBC developer announced the addition of a peer-to-peer shopping section where users can sell items for BCH.
LBC's newly added shopping section that allows people to sell goods via escrow.
"After many weeks of hard work, we are really excited to announce the launch of our peer to peer online shopping platform," explains the LBC representative. "This means that anyone can trade with anyone freely, instantly and safely via escrow. Anyone can be a seller today and sell physical or digital products — There are no commissions at all by the platform and we don't have any restrictions built in so users are welcome to message the sellers directly to deal outside of this platform."
All these additions fit with our objective of allowing anyone to earn a living online, especially people from failed states and corrupt countries. In many of these places, citizens had to suffer from the consequences of the failed government for many decades — Our hope is that with Bitcoin Cash, this will change and help lift someone up from poverty into economic freedom and equality.
The fiat exchange shows traders selling BCH are located all around the world but some have a cap on how much they are willing to sell. A great majority of the peer-to-peer trading arrangements on Localbitcoincash are 'Meetup' swaps where individuals meet in person to trade fiat for BCH. In order to get a scope of what type of trade an individual is offering simply hit the 'view' tab to read the trader's arrangements. The developer of LBC is adding to the website regularly and with each visit the trading portal seems to be more user-friendly over time.
