LocalEthereum Rebrands and Competes with LocalBitcoins
Representatives of the peer-to-peer LocalEthereum platform announced a rebranding, now the site is called LocalCryptos. The main goal was to increase the number of supported cryptocurrencies. It is already possible to buy Bitcoin on the platform, and users will be able to purchase EOS, DASH and Litecoin (LTC), as well as many popular ERC-20 tokens in the near future. According to company representatives, their platform has more than 100 thousand customers around the world. Changing the name and adding support for other cryptocurrencies, the site becomes a direct competitor for LocalBitcoins. “Platforms like LocalBitcoins are centralized, custodial, and a far cry from private. These platforms are vulnerable to hacks and thefts like a centralized exchange.” – said in the LocalCryptos. Important to note is that LocalCryptos does not store private keys from the wallets of its users, which reduces the possibility of a large-scale hacker attack to zero. Users themselves are responsible for their funds.