The LocalBitcoins Blog

Tales from the world of Bitcoin & Cryptocurrency

LocalBitcoins expands partnership with Onfido, powering security-first cryptocurrency trading with trusted identity verification

LocalBitcoins sets itself apart from the market using Onfido’s AI-powered identity verification technology for a security-first approach


LocalBitcoins reports 2019 result

Today, LocalBitcoins announced financial results for 2019. The company posted an annual revenue of €26,2 million, an increase of 10 percent from 2018 and annual operating income of €17,6 million.


Additional verification is now available to residents of Pakistan and Iraq i.a.

New and existing users residing in the countries listed below are now able to activate their accounts by filling up the additional verification form through the Verification tab in their account’s settings. These users can activate their accounts and use LocalBitcoins normally once their additional verification form is completed and approved by LocalBitcoins. The list of countries subject to additional verification is determined by the relevant authorities in LocalBitcoins’ jurisdiction and might be updated from time to time.


FIN-FSA registers LocalBitcoins as a Virtual Currency Provider

The Finnish Financial Supervisory Authority, FIN-FSA, has registered LocalBitcoins as an official virtual currency provider. Starting from the beginning of November 2019, only registered virtual currency providers that fulfil the legal requirements are allowed to operate in Finland.


LocalBitcoins names Sebastian Sonntag as CEO was created as an easy way for anyone to have access to Bitcoin in 2012 by Jeremias Kangas, who was convinced of Bitcoin’s importance in a global economy. Together with his brother, Nikolaus Kangas, they saw the peer-to-peer marketplace grow to over 100 000 active users already within its first years of operation. During 2017, LocalBitcoins entered a phase of exponential growth in trade volume, followed by an increase of nearly 300% in staff size.