“LocalBitcoins will no longer provide its Bitcoin trading service” -LocalBitcoins

LocalBitcoins is a Finland-based Digital asset firm founded in 2012 . LocalBitcoins provide Bitcoin trading service to customers. Yesterday ,On feb 9 LocalBitcoins officially announced that “We have regretfully concluded that LocalBitcoins can no longer provide its Bitcoin trading service”. LocalBitcoins have urged customers to remove their money within the next year. Unfortunately, LocalBitcoins was majorly harmed by the cryptocurrency turbulence in last year. Collapse of world's largest cryptocurrency firm FTX in the last year is responsible for disrupted the entire sector.

Company stated that new sign-ups will be suspended from Feb. 9, 2023 and trading will be suspended seven days later. On Feb. 16 Localbitcoins users will only be able to withdraw their bitcoins and have 12 months to do so. The market capitalization of the cryptocurrency business decreased by 64.1% from $2.3 trillion at the beginning of the year to $829 billion by year's end as a result of the protracted crypto winter, the continued decline in digital asset prices, and more negative factors.This firm said in a statement “We are sad to share that regardless of our efforts to overcome challenges during the ongoing very cold crypto-winter”.

If you want to stay updated about forex market, forex trading and financial news. Download the WikiFX app by this link https://www.wikifx.com/en/download.html in your phones and take advantage of the information on forex trading by visiting www.wikif.com/en/.