Faster Trades: “Standard Hours” and The Lightning-Bolt

Nobody likes a delayed experience. More often than not, when you open a trade with somebody you want a response now — you don’t want to wait, and wait, and wait…

LocalEthereum is tackling slowness head-on with a set of new features. Here are three things every professional trader should know about:

1. The “likely to respond fast” badge

Our quickest traders have an icon next to their offers which means they’re usually really fast to respond to new trades. If you have this icon, your offers will stand out to everyone and are more likely to appear on the homepage.

Although the exact formula behind the badge is secret, if you follow these basic tips your account should have it in no time:

  • Make sure that you respond to all new trades as quickly as possible. Our top traders usually reply within a couple of minutes.
  • Never be so slow that a new trader cancels on you after waiting for a reply.

The badge looks at the past seven or so days of trades, so don’t worry too much if you lose it; you can try again next week.

2. Temporary suspensions for non-responders

If you’ve been unusually slow recently, or have amassed a queue of people waiting to get a response from you, the system will take action.

When this happens, all your offers will be automatically paused and hidden for 24 hours. You will need to log in and manually resume the offers the next day.

This measure is designed to keep the list of offers fresh; we don’t want any inactive traders floating around on the platform. You’ll be notified by e-mail if this happens to your account.

3. Set your “standard trading hours”

You can now set your standard hours of contact. No longer do you need to manually pause and resume your offers as you go to sleep to hold onto your lightning-bolt badge.

If someone opens a trade with you and you’re slow to respond, you’ll typically be penalized and your offers will be shown to less people. However, if the delay happens outside of your offer’s standard hours, it won’t negatively affect your account.

Users can still open a trade with you outside of your normal hours, however they’ll be told that you might be slower to respond than usual.

To change your standard hours, edit an offer, scroll down to the bottom, and find the “standard hours” setting. The timezone will default to your local device’s clock’s, however you can choose another timezone if you are travelling.

As more traders begin setting their standard hours, we’ll be tightening the controls on the badge and auto-suspensions.

More feature announcements coming soon. Happy trading!