Company Research Report: LocalBitcoins

Company Overview

Name: LocalBitcoins Oy

Mission: No information is available

Founding: No specific founding date or founding details are available

Key People: No information is available

Headquarters: Firdonkatu 2 T 63, 00520 Helsinki, Finland

Number of Employees: No information is available

Revenue: No information is available

Recognition: Known for facilitating peer-to-peer Bitcoin trading

Products

Product Offering: LocalBitcoins provided a peer-to-peer Bitcoin trading service.

High-level Description: The platform enabled users to buy and sell Bitcoin directly with each other, supporting various payment methods.

Key Features:

Advertisement Posting: Users could post advertisements with the desired method of payment and exchange rate.

Online Trading Platform: Secure environment for users to engage in Bitcoin transactions.

Escrow Service: To ensure secure transactions, LocalBitcoins offered an escrow service safeguarding the trade process.

Wallet Services: Provided Bitcoin wallet services for trading and holding Bitcoin.

Recent Developments

Business Closure:

As of early 2023, LocalBitcoins discontinued its Bitcoin trading services:

2023-02-09: Suspension of new account registrations.

2023-02-16: Suspension of trading services on the LocalBitcoins platform.

After 2023-02-17, LocalBitcoins users could only log in to withdraw their Bitcoin, as the trading and wallet services have been deactivated.

Product and Service Changes:

LocalBitcoins had previously launched its mobile application on iOS devices to extend its trading services.

The platform underwent a website renewal process aiming to improve user interface and experience, including updates to the wallet dashboard, trading views, and verification portal before it ceased operations.

New Features:

New trading views were designed for an improved user experience that aimed at making trading smooth, fast, and safe.

An updated advertisement management experience was meant to enable faster and simpler advertisement management.

Partnerships: No new partnerships were mentioned.

Contact and Regulatory Information

Contact Email: info@localbitcoins.com

Mail Address: LocalBitcoins Oy, Firdonkatu 2 T 63, 00520 Helsinki, Finland

VAT ID: FI28554152

Registration: LocalBitcoins Oy is registered in the trade register of Finland, under business ID 2855415-2 and was registered with the Finnish Financial Supervisory Authority.

Conclusion

LocalBitcoins, a prominent peer-to-peer Bitcoin trading platform headquartered in Helsinki, Finland, has permanently closed its trading services in 2023 after facilitating Bitcoin transactions globally for many years. Users are advised to withdraw any remaining Bitcoin balances, as the platform no longer supports trading or wallet functions beyond withdrawals.