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Localbitcoins, one of the biggest P2P cryptocurrency exchanges in the world, is now allowing its users to purchase Bitcoin with other cryptos, in a departure from its earlier Bitcoin-only approach. The company announced in a blog post last week they will now allow listings leveraging Tether (USDT), Polkadot (DOT), Cardano (ADA), Bitcoin Cash (BCH), USD Coin (USDC), Chainlink (LINK), and Dogecoin (DOGE) as payment methods.
The exchange also added several new fiat-based payment methods that can be used internationally, and others that can only be used in specific countries. The decision marks a clear departure from the traditional Bitcoin-only stance the company has had since its creation, and effectively creates the possibility for arbitrage with altcoin prices on the platform, albeit not as directly as in a traditional exchange.
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Great Learning brings you this video on “What is Bitcoin? Explained in 10 minutes!” In these 10 minutes, we aim to give a concise and brief understanding of bitcoin and how it works. We then discuss the concept of Bitcoin mining and look at how much a bitcoin costs. Finally, we understand bitcoin’s impact on our lives. We take you through a thorough explanation of the bitcoin to help you understand the topic better.