We are writing to inform you of several important changes and updates on LocalCoinSwap. No action is needed.
The following changes do not affect non-custodial bitcoin trading and wallets, and this type of trading will continue unaffected as will all other trading on the marketplace.
First, we will be winding down custodial trading on the platform, which means that all trading will now be done through non-custodial escrow, and LocalCoinSwap will no longer hold or custody any funds or assets on behalf of our users. The decision to wind down custodial trading has been made as part of our ongoing journey towards more decentralization in order to align with industry best practices and to ensure that users can maintain complete control of their private keys and assets.
Timeline:
February 10, 2023: No new custodial BTC offers or trades can be created
February 24, 2023: Custodial BTC wallets removed and remaining balance transferred to users non-custodial wallets
Please note, that this does not affect non-custodial bitcoin trading and wallets, which will continue to be made available without disruption.
Additionally, we will be delisting Dash from LocalCoinSwap. This decision was made in light of our transition to completely non-custodial P2P trading. Dash trading on LocalCoinSwap does not currently support non-custodial trading, and as such, we will no longer be offering this option on our platform. We encourage all our users who have Dash on LocalCoinSwap to withdraw their Dash before the delisting date (February 24, 2023). If sufficient demand exists, relisting Dash with non-custodial trading may be addressed at a later stage.
We will continue to keep you updated during this transition process, and if you have any questions or concerns, please feel free to contact us.
Best regards,
LocalCoinSwap Team
Comments
2 comments
Naa
Your escrow service does not support RBF to change fees, let this be a warning for those who try, your funds will be locked in the seller escrow!
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