The spread of Bitcoin trade has always been considered a pivotal factor in increasing the adoption rate among cryptocurrencies. With bull runs elevating the cryptocurrency’s status again, companies like Cryptolocally made sure that users could also partake in the hype.
According to an official release, Cryptolocally has now decided to add support for all Bitcoin native trades. These trades will be conducted in a safe and conducive environment where users get the power to forge their own cryptocurrency destiny.
Cryptolocally stated that the main USP of its native BTC platform was the support from several high-performance blockchains such as EOS, Ethereum, Tron and Binance. The excitement generated from the bull runs jolted the entire financial world with several major institutions now considering adoption. The addition of the Bitcoin native trading comes on the back of a previous update: integration of Binance chain-based Bitcoins BTC [BEP2]. BEP2 tokens are directly pegged to the price of Bitcoin with an option to withdraw from Binance.
Sources within Cryptolocally told TWJ that adding BTC on CryptoLocally is a feature that the community has been asking for since our platform launched. Recently, they expressed it publicly by posting and voting for the “listing BTC” proposal on our new governance portal: GIVernance. Now with BTC available for trading on CryptoLocally, users will be able to buy/sell BTC easily and safely with their local currency. Unlike other platforms, users don’t need to deposit BTC on CryptoLocally to complete a trade, they will receive/send the BTC directly to/from their personal wallet! An official Cryptolocally release stated:
“This [BTC native trade] will unlock the massive peer-to-peer market of Bitcoin translating to more users, more trades, and more volume. It will help accelerate word-of-mouth marketing, enhance the trading experience by its users with more available trade options, and increase the overall value of CryptoLocally.”
What makes the latest update even more special was the fact that the proposal was the first to pass the CryptoLocally GIVerenance governance model. Native Bitcoin trading was the first to be chosen because of its widespread popularity and acceptance rate compared to other cryptocurrencies. The GIV token was created so that users would be more involved in the day to day workings of the trading floor. Apart from creating a tightly knit community, using a native token also ensures privacy is maintained.
Users interested in trading Bitcoin will use Cryptolocally’s P2P escrows that help each and every trade. The steps involved in buying BTC follow the same path as other assets so that customers can conduct their business quickly. Being the first fully decentralized P2P exchange has its own advantages for Cryptolocally and it is a pattern that the company plans to emulate in the future as well. Bitcoin’s unprecedented rise to the top has inspired many to get into the field and features offered by Cryptolocally are sure to be a key highlight. If this bullish pattern keeps up, fans may be in for a treat over the next couple of months.