LocalBitcoins Gains Registration as a Virtual Currency Provider from the FSI

By Casper Brown
Published November 22, 2019 Updated November 22, 2019
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LocalBitcoins Gains Registration as a Virtual Currency Provider from the FSI

By Casper Brown
Published November 22, 2019 Updated November 22, 2019

LocalBitcoins successively beat the November 1 deadline to earn new registration from the Finnish Financial Supervisory Authority. Together with four more companies, LocalBitcoins is a compliant cryptocurrency company motivated to achieve its long-terms goals.

At the same time, LocalBitcoins has named serial entrepreneur and former college teacher Sebastian Sonntag as the company’s new CEO. He replaces Nikolaus Kangas who joins his brother and company founder Jeremias Kangas in the LocalBitcoins’ board of executives.

Sonntag takes charge of the company while it solidifies its presence as a leading Bitcoin marketplace around the world. He also faces a series of changes in the crypto-sphere as he prepares to spearhead one of the fastest-growing peer to peer Bitcoin exchange.

LocalBitcoins provides its service in 200+ countries and averages over $50 million in weekly trading volumes. As an indication of what could be the future of Bitcoin trading, our latest charts show a tremendous increase in the number of traders from emerging markets.

More precisely, some of the largest markets where LocalBitcoins has significant growth are Venezuela, Egypt, Indonesia, India, Mexico and Kenya. Traders from these countries consistently use LocalBitcoins to exchange crypto because of its ease of access and use.

Despite that, LocalBitcoins plan to invest more resources in making its services more accessible to people throughout the world. After all, the company owes its continually widening global reach to the Bitcoin community.

After Jeremias founded the company in 2012, it took only one year to register 100,000 active users. LocalBitcoins was the first platform of its kind and Bitcoin traders were quick to notice it. Back then, people wanted a fast and convenient way to buy and sell Bitcoin, and almost no one offered that service.

Jeremias and Nikolaus used that opportunity to expand LocalBitcoins throughout the world. More importantly, they invested their time and resources to improve the trading platform and make it accessible to millions of Bitcoin users.

After years of research and devotion to tailor services to the needs of different traders, LocalBitcoins takes pride in being able to serve at least 500,000 users every month.

“We feel honored to be in a position that allows us to help people achieve financial autonomy through Bitcoin.”

Since 2012, LocalBitcoins’ primary objective has been to help people achieve financial freedom. Whether day traders or long-term investors, Bitcoin educators or people who can’t use traditional financial systems, our goal has always been to facilitate easy access for Bitcoin.

LocalBitcoins’ state of the art security, transparency, constant customer support, and global outreach are some of the ways we show our commitment to the Bitcoin community.

“We also have a tiered ID verification system to help traders increase their limits and also improve buyer confidence.

We apologize sincerely for our verification processes being a tad long at times. But we are continually improving our support resources to make the process smooth and stress-free for everyone.”


The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
About Author
Casper Brown
410 Articles
I am an associate content producer for the news section of Coingape. I have previously worked as a freelancer for numerous sites and have covered a dynamic range of topics from sports, finance to economics and politics.

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