October 7, 2017 — Peer-to-peer altcoin exchange EthBits is now live and fully operational across the globe. In the UK, France, South America and Nigeria, the platform allows users to trade altcoins with one another through crypto-for-crypto trades, bank account transfers, and cash trades.
This is a press release provided by EthBits.
The platform’s selling point is its ability to let users trade altcoins with a low fee of 0.5 percent per transaction. Furthermore, its peer-to-peer nature makes essentially makes it trustless, and virtually untouchable by anyone trying to shut down cryptocurrency exchanges.
“It’s like LocalBitcoins for alts, but cheaper,” said EthBits marketing manager Matthew Radbourne.
And the timing couldn’t be better. In the last month, trading volume on LocalBitcoins has exploded in China as the government cracked down on ICOs and forced many bitcoin exchanges offline. This rise in LocalBitcoins activity brought peer-to-peer trading back into the community spotlight.
Now, EthBits has arrived, offering the resilience of peer-to-peer trading to altcoin investors at an extremely low cost.
Currently, the platform supports crypto-for-crypto trades for Ether (ETH) and the in-house ETBS token. Privacy-centric coins Monero (XMR) and Zcash (ZEC) will be added to the platform soon.
Cash trades are made possible through an agreement with BCB ATM to make the platform available through the company’s network of ATMs. Having this convenient option for cash trades makes people more likely to use cryptocurrency, said Radbourne.
“The research shows that traditional cash and cashpoints aren’t going out of fashion any time soon,” he added, “ If we want people to use cryptocurrency, we need to start offering them solutions that are already familiar to them.”
EthBits development has been funded through a successful ICO, in which the platform raised US $1.3 million and distributed 1.3 million ETBS tokens to its 820 investors.
The token has since been updated to reward holders based on the platform’s profit. In August, EthBits distributed a total of 132 ETH to token holders, with another payment scheduled for January 2018.
To learn more, visit: https://www.ethbits.com
Matthew Radbourne, marketing manager
Images via Future Earth, EthBits
This is a paid press release, provided by EthBits. Bitsonline is not responsible for the products and or services of this company and its clients. This article contains links to third-party websites. Bitsonline is not responsible for the content on those websites.