{"id":607368,"date":"2023-02-12T23:49:23","date_gmt":"2023-02-13T05:49:23","guid":{"rendered":"https:\/\/news.sellorbuyhomefast.com\/index.php\/2023\/02\/12\/localbitcoins-shuts-down-after-more-than-ten-years\/"},"modified":"2023-02-12T23:49:23","modified_gmt":"2023-02-13T05:49:23","slug":"localbitcoins-shuts-down-after-more-than-ten-years","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2023\/02\/12\/localbitcoins-shuts-down-after-more-than-ten-years\/","title":{"rendered":"Localbitcoins Shuts Down After More Than Ten Years"},"content":{"rendered":"<div id=\"page\">\n<div id=\"content_box\">\n<header>\n<div>\n<p><img loading=\"lazy\" alt src=\"https:\/\/secure.gravatar.com\/avatar\/41169a86822e6585e2f87627f7d7ef3a?s=32&#038;d=mm&#038;r=g\"  height=\"32\" width=\"32\" decoding=\"async\"><\/p>\n<p><span><span>By <a href=\"https:\/\/fullycrypto.com\/author\/mahu_bs\" title=\"Posts by Mark Hunter\" rel=\"author\">Mark Hunter<\/a><\/span><\/span><\/p>\n<p><span><\/p>\n<p>3 days ago<span>Fri Feb 10 2023 10:32:10<\/span><\/p>\n<p><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/p>\n<\/p><\/div>\n<\/header>\n<p><img loading=\"lazy\" width=\"1300\" height=\"890\" src=\"https:\/\/fullycrypto.com\/wp-content\/uploads\/2023\/02\/Localbitcoins-Shuts-Down-After-More-Than-Ten-Years.png\" alt=\"Localbitcoins-Shuts-Down-After-More-Than-Ten-Years\" decoding=\"async\" title data-layzr=\"https:\/\/fullycrypto.com\/wp-content\/uploads\/2023\/02\/Localbitcoins-Shuts-Down-After-More-Than-Ten-Years.png\">\t\t\t\t\t\t\t\t\t\t\t<\/p>\n<div>\n<p><span><span>Reading Time: <\/span> <span>2<\/span> <span>minutes<\/span><\/span><\/p>\n<ul>\n<li aria-level=\"1\"><span>Famous Bitcoin exchange Localbitcoins has closed its doors after more than ten years<\/span><\/li>\n<li aria-level=\"1\"><span>The company blamed the crypto winter and \u201cvarious challenges\u201d for its closure<\/span><\/li>\n<li aria-level=\"1\"><span>Users responded with their memories of the service<\/span><\/li>\n<\/ul>\n<p><span>Localbitcoins, the cryptocurrency <\/span><a href=\"https:\/\/fullycrypto.com\/crypto-exchange-reviews\"><span>exchange<\/span><\/a><span> that introduced many to the world of <\/span><a href=\"https:\/\/fullycrypto.com\/crypto-guides\/bitcoin-btc\"><span>Bitcoin<\/span><\/a><span>, has announced that it is to cease operations after more than a decade of operation. The exchange, the most famous peer-to-peer Bitcoin website in the world, cited the \u201congoing very cold crypto-winter\u201d as the reason for its closure, but in truth its days were numbered when regulations forced it to stop offering a cash service, at which point it was already being usurped by other exchanges anyway.<\/span><\/p>\n<h2><span>Localbitcoins Lost Ground to Remote Exchanges<\/span><\/h2>\n<p><span>Localbitcoins was founded in 2012 in Finland and quickly became the place to buy and sell bitcoin \u2013 users would arrange a physical meeting point and conduct the deal in person. This seems unthinkable now, but back in those days it was one of the few ways to buy and sell, especially with the only other option, MtGox, increasing its regulatory oversight at the time.<\/span><\/p>\n<p><span>Localbitcoins was very popular until the likes of Binance and FTX took the crypto world by storm, with users gravitating to their platforms and leaving Localbitcoins in the dust. The writing was on the wall when the company was <\/span><a href=\"https:\/\/fullycrypto.com\/localbitcoins-removes-bitcoin-for-cash-option\"><span>forced to stop cash transactions<\/span><\/a><span> in June 2019, by which point it was known to be a hotspot for illegal Bitcoin activity.<\/span><\/p>\n<h2><span>Users Remember the Good Times<\/span><\/h2>\n<p><span>The three years since this action have seen Localbitcoins <\/span><a href=\"https:\/\/fullycrypto.com\/localbitcoins-incorporates-elliptic-transaction-tracking\"><span>enact its regulatory responsibilities<\/span><\/a><span> and as a result slip further into irrelevance, until today it has become an echo of a former time. This led to today\u2019s inevitable announcement:<\/span><\/p>\n<blockquote>\n<p dir=\"ltr\" lang=\"und\">???????? <a href=\"https:\/\/t.co\/4j5M7iZkaD\">pic.twitter.com\/4j5M7iZkaD<\/a><\/p>\n<p>\u2014 LocalBitcoins (@LocalBitcoins) <a href=\"https:\/\/twitter.com\/LocalBitcoins\/status\/1623683223178862593?ref_src=twsrc%5Etfw\">February 9, 2023<\/a><\/p>\n<\/blockquote>\n<p><span>The news prompted many to remember their own experiences of using Localbitcoins and thank the company for helping to increase awareness and adoption:<\/span><\/p>\n<blockquote data-conversation=\"none\">\n<p dir=\"ltr\" lang=\"en\">I bought my first Bitcoin from Local Bitcoins many years ago. Such a great service! Sad to see it close. But thank you for your service. ????<\/p>\n<p>\u2014 pray.eth (@pray_eth) <a href=\"https:\/\/twitter.com\/pray_eth\/status\/1623700856704053250?ref_src=twsrc%5Etfw\">February 9, 2023<\/a><\/p>\n<\/blockquote>\n<blockquote data-conversation=\"none\">\n<p dir=\"ltr\" lang=\"en\">My first bitcoin purchase was on your site back in the days. Thanks for introducing me to crypto!!<\/p>\n<p>\u2014 Ted (@tedlovesgsw) <a href=\"https:\/\/twitter.com\/tedlovesgsw\/status\/1623685695947833348?ref_src=twsrc%5Etfw\">February 9, 2023<\/a><\/p>\n<\/blockquote>\n<blockquote data-conversation=\"none\">\n<p dir=\"ltr\" lang=\"en\">You were the OG exchange.<br \/>\nA fundamental component of the proliferation of Bitcoin and decentralization<\/p>\n<p>\u2014 CRYPTOCROOKS (@cryptocrooks) <a href=\"https:\/\/twitter.com\/cryptocrooks\/status\/1623685571502637057?ref_src=twsrc%5Etfw\">February 9, 2023<\/a><\/p>\n<\/blockquote>\n<p><span>Gone, but never forgotten.<\/span><\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p><a href=\"https:\/\/fullycrypto.com\/localbitcoins-shuts-down-after-more-than-ten-years?utm_source=rss&#038;utm_medium=rss&#038;utm_campaign=localbitcoins-shuts-down-after-more-than-ten-years\" class=\"button purchase\" rel=\"nofollow noopener\" target=\"_blank\">Read More<\/a><br \/>\n Mark Hunter<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Mark Hunter3 days agoFri Feb 10 2023 10:32:10 Reading Time: 2 minutes Famous Bitcoin exchange Localbitcoins has closed its doors after more than ten years The company blamed the crypto winter and \u201cvarious challenges\u201d for its closure Users responded with their memories of the service Localbitcoins, the cryptocurrency exchange that introduced many to the<\/p>\n","protected":false},"author":1,"featured_media":607369,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[119000,4625],"tags":[],"class_list":{"0":"post-607368","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-localbitcoins","8":"category-shuts"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/607368","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=607368"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/607368\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/607369"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=607368"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=607368"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=607368"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}