CriptoNoticias interviews Ethereum OTC platform localethereum

Earlier this year, localethereum was interviewed by Criptonoticias, a European cryptocurrency magazine with a certain reputation . The following is the transcript of the interview (partial):

How has the public response been to your website since it went live ?

We were blown away by the number of signups we had in the first week. As soon as we opened the website for registration ( trading didn’t start until a month later ) , thousands of people joined localethereum on the first day .

In the first week of trading, around $120,000 worth of ether was traded on our site. We felt that this was way beyond our expectations ! However, now, just a few months after trading was enabled, we are seeing far more than that daily. So far, the growth has been phenomenal.

Of course, we knew this platform would be successful before we launched our website. This is despite the failure of the first crypto OTC platform, Mt. Gox , in 2011. The pioneer of cryptocurrencies was the cryptocurrency Bitcoin, which was originally designed to avoid intermediaries, but ironically, most of the risks faced by cryptocurrencies are derived from trusting third parties. As we wrote on the blog, centralized exchanges in 2018 are still making the same terrible mistakes that can cost customers hundreds of millions of dollars over and over again, and they are the only option until end-to-end alternatives like LocalEthereum are launched.

We have heard a lot of positive feedback since the launch of the site and we are really happy that everything has gone well so far. We have received letters of thanks from customers all over the world, including developers, CEOs, and even a professor, thanking us for creating a crypto-based trading platform that solves their urgent needs.

Which countries have the largest trading volumes ?

The countries with the highest trade volumes are currently Russia, China, the United States, the United Kingdom, New Zealand, Australia and Venezuela.

Are there any security issues with Localethereum?

Most of the construction of our website was completed in June 2017, but we did not officially launch until October . During this time, we conducted rigorous testing of the code base and fixed vulnerabilities to ensure that all transactions conducted on the website are safe and valid. To date, we have not encountered any serious threats to the platform, and we also regularly audit localethereum's code and policies to ensure that high standards of security are met.

What I like best about localethereum is that we don't store any ether - users control their own private keys at all times. This means that if someone hacks into our database, they will find almost all gibberish. Every message or attachment sent by users is end-to-end encrypted, and every wallet is encrypted in the browser. Other than the email address, we really have nothing to attract hackers, and this is the platform we want to share with everyone.

Of course, phishing attacks are increasing day by day. Although two-factor authentication is enabled by default for every account, we are fighting these attacks head-on. We are also currently working on new measures to combat payment-related fraud.

Are your platform's services applicable to the world, or are they regulated or restricted by the laws and regulations of a certain country ?

localethereum supports people around the world who have a need to exchange virtual currencies. localethereum is not an exchange, does not accept any deposits, and does not handle anyone's money, so we are not subject to supervision by various countries like centralized exchanges.

Of course, as a trader, you must be aware of local laws and regulations to ensure that your trading complies with the requirements of your region - such as record keeping, KYC or other licensing requirements.

What are the biggest challenges you encounter in platform development and user interaction after launch ?

Helping customers is hard. When you come into work and see 100 help tickets waiting to be answered, it makes the day seem long and painful, but we still do our best to answer every question because we truly care about our users. Lately, we've gotten better at handling customer questions and the time it takes has decreased significantly. This means we can spend more time developing new features.

While there are bound to be some hiccups, the speed at which our site has spread around the world has been amazing. Scaling the site's infrastructure to handle the massive amount of site traffic is another battle we are eager to win.

Localethereum exchange group: 783740442

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