Boosting Bitcoin awareness all over the world has proven to be quite the challenge. Over in the United Kingdom, LocalBitcoins is halving their trading fees from 1% to 0.5%. Not a bad deal by any means, as dealing with less trading fees makes buying and selling cryptocurrency more attractive.
The year 2016 has not been overly kind to the United Kingdom so far. The number of drug sales on the darknet continues to rocket, and the Brexit did not help matters much either.Either event could have contributed to boost the Bitcoin price in the UK, yet that did not happen just yet. In fact, it may not have an effect on the Bitcoin price in the long run either.
At the same time, this is still the perfect time for anyone in the UK to get involved in cryptocurrency. Localbitcoins UK will halve their trading fees come September 1st. This special promotion will end on October 2nd, giving users plenty of time to buy or sell Bitcoin while a reduced fee structure is in effect.
LocalBitcoins started out with lots of support from the United Kingdom, which is one of the first regions where the platform gained significant traction. Ever since, it managed to remain one of the more popular places to buy and sell bitcoin, partially due to its peer-to-peer aspect. Every now and then, paying back to the community will go a long way.
While it is not sure how much effect these reduced Bitcoin trading fees will have, it is the gesture that counts. LocalBitcoins is one of the most convenient places to buy or sell Bitcoin at any given time . Being connected to buyers and sellers directly is very different compared to dealing with regular Bitcoin exchanges.
Keeping in mind how LocalBitcoins has over 1,35m registered users since June 2012, it is evident the platform has been quite successful so far. Moreover, the service is being used across 249 different countries, and an average total of US$14m worth of Bitcoin is changing hands on a weekly basis.
Image credit 1
If you liked this article follow us on Twitter @themerklenews and make sure to subscribe to our newsletter to receive the latest bitcoin and altcoin price analysis and the latest cryptocurrency news.
GSR has formally entered the ETF market with their first ETF, $BESO, which is listed…
While the Dogecoin community has always had its share of news to talk about, it…
In a major development, Bitget Wallet has announced the integration of Polymarket directly into its…
The Aave rsETH/wrsETH market froze abruptly, leading to a rapid series of withdrawals, including one…
Last week saw major investment firm Strategy Inc. (MSTR) bust into the crypto world with…
One of Bitmine Immersion Technologies came out to be the most aggressive in its cryptocurrency…
