Trading Has Begun!

The peer-to-peer ether marketplace has opened trading!

In its first two days, LocalEthereum helped traders complete nearly 100 over-the-counter exchanges worth a total of ~$US60,000. While this number looks slim next to high-frequency exchanges, it’s a terrific start and the trading volume continues to grow rapidly as more jump on board.

We’re sick of the dangerous misplaced trust in centralised exchanges which continue to lose hundreds of millions of dollars of our money. Traders have been getting the raw end of the deal for far too long now, so we’ve changed the game.

LocalEthereum aims to be the most secure and private marketplace that crypto has seen. Unlike other over-the-counter marketplaces, we’re the first to implement a completely in-browser crypto setup to protect you off and on the blockchain.

Here’s what sets us apart:

  • Escrows are completed over an open source Ethereum smart contract, for guaranteed proof-of-funds and simple arbitration in case a dispute arises. Don’t trust us — trust the math!
  • Messages are end-to-end encrypted.
  • Your in-browser wallet is encrypted, so you have complete control over your funds. We couldn’t touch your ether if we wanted to (we don’t).

We’re seeing a growing number of traders using Chinese Yuan, which is currently the most frequently-traded currency. Don’t worry — we’re working on a full website translation to Mandarin right now! Other popular currencies so far have been GBP, AUD, USD and RUB.

In the first two days, traders have completed nearly 50 fiat-to-ether trades by bank transfer, 20 by AliPay, 3 for cash in-person, and 5 using PayPal.

A huge thanks to everyone for their support and feedback so far!

P.S. To those who referred more than ten people before launch: Enjoy the fee-free trading for three months!