LocalBitcoins to Shut Down After 10 Years of Operation

LocalBitcoins, one of the earliest and most popular peer-to-peer Bitcoin exchanges, today announced that it is shuttering its business after more than ten years of operation.

In its announcement, the P2P platform said that it was “proud of what we have achieved together with all of you, our loyal community,” but that it can no longer provide its service due to the “challenges during the ongoing very cold crypto-winter.”

The platform also shared a timeline for its service closures, beginning with a suspension of new signups today and followed by the ending of trading and deposits on February 16.

After February 17, the only thing LocalBitcoins users will be able to do is withdraw their Bitcoin from their wallets. They will have 12 months to do so.

This story is breaking and will be updated shortly.

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Source: https://decrypt.co/120933/localbitcoins-shut-down-10-years-operation