This week the community said goodbye to LocalBitcoins - The worlds first peer-2-peer Bitcoin trading site.
LocalBitcoins was founded in 2012, with the mission of bringing Bitcoin to the masses, and driving global financial inclusion through the decentralised currency. Bitcoin Babe first offered its services on LocalBitcoins in May 2014, making Bitcoin Babe the #1 ranked p2p trader on LocalBitcoins for Australia and New Zealand, having successfully completed nearly 50,000 p2p trades over almost 9 years.
Sadly, LocalBitcoins had to close down the website, citing poor trading volume on the site as part of the 'crypto winter'.
Are my Bitcoins safe?
If you used LocalBitcoins previously, it is possible that you still have Bitcoin in your wallet (your LocalBitcoins account).
If this is the case, it is advised that you withdraw your Bitcoin to an external wallet service.
While LocalBitcoins has stated that they are not insolvent, it is critical that you withdraw your balance as soon as possible to ensure that no blocks have been placed on your account (such as a forced holiday, or withdrawal restrictions imposed due to incomplete KYC).
If you are still having problems, you can contact LocalBitcoins Support for assistance.
LocalBitcoins will remain operational for the next 12 months (until February 16th, 2024), allowing users to withdraw any remaining balances and download any trade data. After this time, everything will be gone forever.
Can I continue to trade with Bitcoin Babe?
Absolutely! p2p Trading is still available via LocalCoinSwap for escrow, or directly via the Bitcoin Babe OTC desk!
Can I still use the Bitcoin Babe Payment Processor?
Unfortunately, the Bitcoin Babe Payment Processor is not currently configured for LocalCoinSwap. As such, access to the payment processor will be unavailable. Should this change, an announcement post will be made to notify loyal customers!