Leading P2P Platform, Localbitcoins Now Accepts Cardano (ADA), Chainlink (LINK), Bitcoin Cash (BCH)
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As a report has it, Localbitcoins, a leading peer-to-peer (P2P) platform, now accepts Cardano (ADA), Bitcoin Cash (BCH), Chainlink (LINK), Dogecoin (DOGE), Tether (USDT), and USD Coin (USDC) as payment methods.

The new development implies that the cryptocurrencies listed above can now be used to create advertisements on the P2P trading platform.

Read Also: Charles Hoskinson: Ethereum Is Actually Killing Itself, Cardano Is Leading the Fight

In the blog post, the platform said, “You asked, we delivered! Some highly anticipated altcoins have now been added as payment methods!”

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LocalBitcoins also announced the inclusion of over 40 other alternative payment methods such as AirTM, transfers between Uphold accounts, MercadoPago, Chime, and PIX in Brazil, which will be available in a number of countries as listed in the report.

At the moment, no trading volumes yet for the newly listed altcoins. However, Dogecoin (DOGE) is currently dominating the LocalBitcoins boards.

Read Also: Crypto.com Exchange Launches VeChain (VET) and Chainlink (LINK) Lending Services

There is a tussle of supremacy between LocalBitcoins and Paxful among Bitcoin traders. The former is dominant in Latin America, where it’s rooted itself as the only option for traders.

For instance, legal restriction is preventing Paxful from crypto traders in Venezuela. And according to a report from blockchain data firm, Chainalysis, Venezuela has one of the highest crypto adoption rates in the world.

Why Crypto Traders Would Opt For Peer-to-Peer (P2P) Exchanges

For several reasons, cryptocurrency traders would prefer using P2P exchanges. One of these reasons is the fact that trading windows allow for less exposure to market volatility, and traders secure deposits into their accounts instantly.

Read Also: Traders Are Increasingly Converting Bitcoin (BTC) and Ethereum (ETH) to XRP –Ripple States Reason

In this regard, LocalBitcoins leads similar platforms such as Binance P2P, the peer-to-peer platform of the world’s largest cryptocurrency exchange by trading volume.

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Tobi Loba

By Tobi Loba

Tobi-Loba is a creative and an award-winning writer with over 5 million readers from all over the world. She has B.A in English and Literature from a reputable University and currently studying for her M.A in the same field. She recently became a contributor at Herald Sheets in order to satisfy her thirst in reporting crypto and blockchain occurrences, the interest she built over the years.