LCXwire.com has released a potentially controversial article “How Does LocalBitcoins Work For Beginners? Is It Legal, Legit, Safe In 2022? Reddit Says Yes!”, bringing some cause for concern, as the article may upset Bitcoin Traders who closely follow news, events and market activity at all hours of the day to watch for indications that Bitcoin’s price could offer an opportunity for profit and prefer to trade through more regulated crypto exchanges and brokers. Selling bitcoin at a high price means the seller receives a high amount of fiat currency for a low amount of bitcoin. These Bitcoin traders look for every advantage in maximizing profit, which includes how and where they buy or sell their Bitcoin. Although willing to accept market risks, these cyrpto traders generally look for security in the crypto exchanges used to trade Bitcoins.
The 3,300 word article examines the high points and low points of LocalBitcoins (a Finnish company selling Bitcoin on a Peer-To-Peer Network), in the pursuit of providing an in-depth review and explanation of how LocalBitcoins works as an exchange, and whether the exchange is legal and safe to use for crypto investors wanting to sell or buy Bitcoins. In somewhat typical manner though, a certain element of the article is set to spark discontent amongst Bitcoin traders. The controversial Peer-To-Peer Crypto Exchange offers a high degree of privacy, and acts as a Craigslist of Bitcoin.
Sellers and buyers connect via adverts and then communicate directly in the sale of Bitcoin. The exchange places responsibility for the sale security with the buyer and seller and acts as an escrow account.
Below is a portion of the piece, which neatly exemplifies the controversial element:
This cyrpto exchange facilitates face-to-face and online transactions by matching Bitcoin buyers and sellers who may reside close to one other. Registered users can reply to posted adverts and arrange to meet an individual buyer to purchase Bitcoins with cash or other forms of payment agreed to by the seller. Users can advertise their exchange rate and payment options for purchasing or selling Bitcoins.
A spokesperson for LCXwire.com, Ron Packer, says “Of course LCXwire.com never sets out to intentionally upset anybody. The aim of the article is first and foremost to help Bitcoin traders, especially beginners, gain a better understanding of the opportunities and risks, as well as the restrictions of using LocalBitcoins as a crypto exchange for Bitcoin. It is critical, however, that LCXwire.com stay dedicated to the goal of delivering honest and timely crypto market news and information.
The article, “How Does LocalBitcoins Work For Beginners? Is It Legal, Legit, Safe In 2022? Reddit Says Yes!” might unsettle Bitcoin Traders who prefer to use more regulated exchanges. Selling bitcoin on a P2P network provides an opportunity to lower overall trade costs, but does significantly transfer the security of the transaction from the exchange to the users. These Bitcoin traders look for every advantage in maximizing profit, which includes how and where they buy or sell their Bitcoin. Although willing to accept market risks, these cyrpto traders generally look for security in the crypto exchanges used to trade Bitcoins. In publishing the article it is more important to keep the target audience informed about the risks and opportunities of the cyrptocurrency market, than to please everyone, which is notoriously difficult to do.”
Although there has been no backlash as of yet, the possibility exists as the article suggests the use of P2P Networks may allow Bitcoin traders to significantly reduce costs associated with buying and selling Bitcoin.
LCXwire.com has been a provider of in depth articles in the Cryptocurrency market for since 2022.
LCXwire.com has stated the future aims for the website are to provide useful and interesting information regarding the LCX Exchange, comparable crypto exchanges, and the general cryptocurrency market in general. So LCXwire.com hopes any controversy will pass quickly and re-emphasizes no offence is or was intended.
LCXwire.com’s complete article can be found at https://lcxwire.com/localbitcoins-a-safe-crypto-exchange-reddit-quora-users-review-the-p2p-network/
Release ID: 89063751