Local Bitcoin Cash (localbitcoincash.org) is a web-based cryptocurrency exchange that was introduced into the marketplace in October of 2017 by an entity known as Eric.
Local Bitcoin Cash Overview
LocalBitcoinCash.org functions as an online cryptocurrency exchange where consumers are able to exchange cryptocurrencies for fiat currency. Available online and through various global demographics, Local Bitcoin Cash functions as a minimalistic exchange that does not provide much information regarding their operation.
What is known would be that Local Bitcoin Cash does not charge any transactions fees while all escrows are done free of charge. In addition, no quantity limit is enforced so users are able to trade any amount of currencies they wish while sellers and buyers are able to communicate directly.
Escrow transactions are conducted instantaneously, given that both parties have sufficient balances to complete the transaction while the site features a minimally invasive news feed that provides updates regarding their site.
Among the most recent published news feeds for March of 2018 would be how Local Bitcoin Cash has added Skycoin and SmartCash to their supported cryptocurrencies, have published two insightful compositions along with having dropped support for Bitcoin and Litecoin.
- Dash (DASH)
- Myriad (XMY)
- Skycoin (SKY)
- Expanse (EXP)
- Brother (BRAT)
- Ethereum (ETH)
- TokenLab (LAB)
- Argentum (ARG)
- ZoZo Coin (ZZC)
- ClickGem (CGM)
- Rutheneum (RTH)
- PascalCoin (PASC)
- Bean Cash (BEAN)
- Elementeum (ELET)
- SmartCash (SMART)
- MonetaryUnit (MUE)
- IDNI Agoras (AGRS)
- Synthium Health Platform (SHP)
* As of March 3rd, 2018, Local Bitcoin Cash has added Skycoin and SmartCash to their no fee exchange.
* As of March 27th, 2018, Local Bitcoin Cash no longer supports Bitcoin or Litecoin cryptocurrencies.
Actively Supported Demographics
If one was to scroll down the home page of Local Bitcoin Cash they will notice a table of cryptocurrency listings that are actively offered by sellers and buyers utilizing their domain. While most of their users are willing to conduct business over the web, the ability to meet with potential buyers is also enabled which is why the disclosure of demographics is included. Disclosed below are some of the active demographics of sellers and buyers using localbitcoincash.org:
- New Zealand
- Hawaii, U.S.A.
- Missouri, U.S.A.
- United Kingdom
Most of the community feedback and reviews regarding Local Bitcoin Cash are unverified and appear uncertain regarding the trustability of their exchange. When Local Bitcoin Cash entered the online marketplace, it released a Reddit thread which as acquired a good deal of feedback although it raises more questions than answers.
A second Reddit thread created by Eric, the alleged entity behind LocalBitcoinCash.org, was also opened but fails to provide much information of value. Lastly, BitcoinTalk.org only mentions the emergence of their exchange to the cryptocurrency marketplace although no user feedback has been submitted.
Is Local Bitcoin Cash Safe to Use?
Given the anonymous nature and youthful age of Local Bitcoin Cash it has failed to acquire much credibility which typically serves as common grounds to classify an operation as untrustworthy. Failing to incorporate a 2 Factor authorization method while not disclosing ownership information does sound some warning bells but given the lack of negative feedback surrounding this operation we do, for the time being, believe that their operation is safe but should only be pursued at one’s own risk.
Popularity & Domain Insight
According to SimilarWeb, Localbitcoincash.org does not appear to be a popular site and reflects a global rank of 1,258,367 with a Venezuela rank of 9,275. As indicated in the report, over 25% of their traffic derives from social based sources where Reddit serves as the main traffic source. As revealed in a WHOIS domain report, LocalBitcoinCash.org was a privately registered domain that was created on October 7th, 2017 through the NameCheap, Inc registrar.
Local Bitcoin Cash Review Conclusion
One of the most controversial issues regarding cryptocurrencies would be anonymity. While Local Bitcoin Cash operates with complete anonymity, their exchange services are structured in such a manner to dispose of the anonymity between buyers and sellers while also still offering the right to remain anonymous.
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Even if you don’t reside within one of the following demographics featured on their listings page, it is still possible for you to exchange cryptocurrencies for fiat currency although some identity criteria may be required from your end, such as potential bank account information for wire transfers.
While Local Bitcoin Cash still appears to be a youthful operation, we must advise our subscribers to utilize their free exchange services at their own risk and stress upon the obvious which would be not to leave much of your currencies on their platform.
Do you have any experience with Local Bitcoin Cash? Please share any knowledge, experience or opinions you may have by leaving a comment below.