March 27, 2023

The oldest Bitcoin exchange platform published its final closure.

The best-known cryptocurrency exchange platform in the world has announced this Thursday, February 9, that it will close its operations. Despite the fact that Bitcoin (BTC) has remained upward during the first leg of 2023.

This company, considered the oldest in the market, has announced that its decision is due to the low profitability that digital currencies have had in the last period.


The Bitcoin platform that announced its closure

After having operated with digital assets for more than 10 years, the LocalBitcoins cryptocurrency platform announced its closure on its official channels and assured that they exhausted all their attempts to “overcome various challenges.”

However, the startup launched in 2012 explained that the drop in the BTC price and the so-called “crypto winter” led them to specify that they cannot “continue to provide their Bitcoin trading service.”

This great event in the world of crypto is added to the recent suspension of dollar withdrawals announced by Binance and the sale that the Genesis firm will make of one of its platforms.


Client funds withdrawal deadline

LocalBitcoins published a calendar on social networks with the dates on which it will suspend its services and the maximum period that users will have to withdraw their assets.

The company stated, “We urge all customers to withdraw their funds from LocalBitcoins and ask that they proceed to withdraw the Bitcoins from their wallet.”

The announcement also explained that “they have 12 months to withdraw them”, however, they stress that they “proceed to withdraw them as soon as possible”.

The schedule announced by the cryptocurrency platform is as follows:

• February 9, 2023: Suspension of new registrations.

• February 16, 2023:

◦ Suspension of trading in LocalBitcoins.

◦ Suspension of the use of the wallet (except for withdrawing funds).

• February 17, 2023: Solo customers will be able to connect to withdraw their Bitcoins. The exchange and wallet services will cease to be available at that time.

Posted by Cryptobtcbrowser, news and information agency.

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