Bitcoin buy local - phrase removed
LocalBitcoins
| Founded | June [1] |
|---|---|
| Founder | Jeremias Kangas |
| Headquarters | , |
| Nicholas Kangas (CEO until 10/) Jeremias Kangas (former CEO, Founder) Sebastian Sonntag (CEO) | |
| Website | tallerembajador.com.mx |
LocalBitcoins is a peer to peerbitcoinmarketplace based in Helsinki, Finland. Its service facilitates over-the-counter trading of local currency for bitcoins.[2] Users post advertisements on the website, where they state exchange rates and payment methods for buying or selling bitcoins.
Other users reply to these advertisements and make the payment in specified payment method. LocalBitcoins has a reputation and feedback mechanism for users and an escrow and conflict resolution service. As of December , LocalBitcoins has around , active traders with a trade volume of 1,–3, bitcoins per day.
History[edit]
LocalBitcoins was founded in June by Jeremias Kangas. He implemented an escrow system for the marketplace by the end of The website started generating revenue by the beginning of
In September , access from Russia to LocalBitcoins was blocked by Roskomnadzor, the executive agency for telecommunications in Russia, after the finance ministry proposed criminalising the use of bitcoin. LocalBitcoins posted instructions for users on how to bypass the access restrictions.[3] In , LocalBitcoins headed the list of best financially performing companies in Finland arranged by the local specialized publication Kauppalehti.[4]
In , , and people who used the site were arrested for money laundering and related crimes.[5][6][7]
In January , hackers stole bitcoin worth $28, from users' LocalBitcoins accounts.[8] In June , LocalBitcoins removed local cash ads from their website.[9] On September , Sebastian Sonntag became the new CEO of Localbitcoins[10]
In November , tallerembajador.com.mx got registered as a Virtual Currency Provider by Finnish Financial Supervisory Authority.[11]
Solution overview[edit]
The website offers a service to facilitate the locating of other Bitcoin users can meet others for person to person trading of bitcoin.[12] The site is suggested for casual traders seeking more privacy.[12] The site uses an escrow system, and the transfer of bitcoin is made after funds are received in the sellers account.[13][14]
References[edit]
- ^Knibbs, Kate (). "Meet the Street Dealers Who Peddle Bitcoin". Gizmodo. Archived from the original on Retrieved
- ^McMillan, Robert (). "Why the Only Real Way to Buy Bitcoins Is on the Streets &#; Wired Enterprise". Wired. Condé Nast. Retrieved
- ^Mizrahi, Avi (). "Russia's National Censor Blocks Access to LocalBitcoins. LocalBitcoins responded to the ban by instructing Russian users on how to bypass the censorship". Finance Magnates. Archived from the original on Retrieved
- ^tallerembajador.com.mx
- ^"tallerembajador.com.mx Targeted - Another Major Bitcoin Exchange May Be Under Threat". Business Insider. Retrieved
- ^"Former Shreveport chiropractor, son sentenced for operating illegal bitcoin exchange business". tallerembajador.com.mx. Retrieved
- ^Farivar, Cyrus (). "Woman who once bought bitcoins for $, cash in paper bags sent to prison". Ars Technica. Retrieved
- ^Cimpanu, Catalin (January 27, ). "LocalBitcoins blames security breach on forum 'third-party software'". ZDNet.
- ^@LocalBitcoins (June 4, ). "Note on the removal of Local Cash Ads" (Tweet) &#; via Twitter.
- ^"LocalBitcoins names Sebastian Sonntag as CEO". tallerembajador.com.mx. Retrieved
- ^"The Financial Supervisory Authority granted five registrations as virtual currency provider". tallerembajador.com.mx. Retrieved
- ^ abGuttmann, Benjamin (). The Bitcoin Bible. Books on Demand. ISBN&#;.
- ^Patterson, Sam (). Bitcoin Beginner: A Step By Step Guide To Buying, Selling And Investing In Bitcoins. Better Life Publishers. ISBN&#;.
- ^Cofnas, Abe (). The Forex Trading Course: A Self-Study Guide to Becoming a Successful Currency Trader, 2nd Edition. Wiley Trading. ISBN&#;.
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