A peer-to-peer cryptocurrency exchange service LocalBitcoins will sunset its services after almost eleven years of operation.
Subscribe to our Telegram channel to get daily short digests about events that shape the crypto world
According to the website's page announcement, the service has already closed new signups and will suspend trading on Feb. 16, 2023. The service claims it can "no longer provide its bitcoin trading service," citing challenges, which appeared during the ongoing "very cold crypto-winter." Customers now have 12 months to withdraw their funds out of the platform.
Starting from Feb. 17, LocalBitcoins customers will only be able to log in to withdraw their bitcoin (EXANTE: Bitcoin) as the trading and wallet services will no longer be available at this point, the platform emphasized.
Founded in 2012 by Jeremias Kangas in Finland, LocalBitcoins helped users exchange their local currency to cryptocurrencies, including bitcoin, ether (ETH) and tether (USDT).
Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange