UK-registered cryptocurrency company Ethbits.com has developed a LocalBitcoins exchange platform that brings together bitcoin buyers and sellers for online and face-to-face digital currency trading.
Founded in June 2012, LocalBitcoins offers users the opportunity to buy bitcoin without a bank account. By mid-2016, it maintained a weekly trading volume of USD 14 million. Now the solution is developing further through the inclusion of alternative cryptocurrencies.
Ethbits.com is holding a Token Crowd Sale from April 15 to May 13 in preparation for the launch of the second phase of the project, a trading exchange called iTrade.
iTrade will potentially launch in 2018 and cover the top 15 digital currencies. In addition, the system will be based on “copy trading” which allows users to automatically copy positions opened and managed by a particular investor.
Copy trading has also led to the development of “people-based” portfolios where funds are invested in other traders instead of conventional market-based instruments. Other leading copy trading providers are eToro, Cmstrader and ZuluTrade.