• LocalBitcoins, a Finnish peer-2-peer (P2P) bitcoin exchange, has officially shut down after 10 years of operation.
• The platform will suspend all trading and wallet services on 16th February, allowing customers to withdraw their Bitcoin assets over the next 12 months.
• The company expressed sincere gratitude for its loyal customers, noting that “history cannot be rewritten”.
LocalBitcoins Shuts Down After 10 Years
LocalBitcoins, a Finnish peer-2-peer (P2P) bitcoin exchange, has announced its official closure after ten years of operation. On February 9, the platform shared this sad news with its esteemed customers due to the ongoing prolonged crypto turmoil.
The company outlined its protocol for shutting down its services – suspending new signups from February 9 and suspending all trading and using of the LocalBitcoins wallet from February 16 until withdrawal of funds. After February 17th users will only be able to log in to withdraw their Bitcoins; trading and wallet services will no longer be available in this time frame.
LocalBitcoins customers can withdraw their crypto assets from the platform within the next 12 months but are encouraged not to wait until last minute as they will receive several notifications over the coming months reminding them of this period.
Gratitude To Loyal Customers
The company expressed sincere gratitude to its loyal customers noting that “We cannot tell how moved we are by each memory you shared and your kind support” and adding “Your loyalty is unmatched”. They also reminded customer that even though things change “History cannot be rewritten“.
Overview Of Services Offered By LocalBitcoins
LocalBitcoins offered users from different countries an opportunity to exchange their local currency into Bitcoins as well as creating advertisements where they could choose payment methods for transactions carried out on their platform.