LocalBitcoins, Largest P2P Bitcoin Exchange in the World Cuts Fees For UK Traders by 50% For One Month

LocalBitcoins - the most popular P2P Bitcoin exchange in the world, with 1.35 million members across 249 countries - announced today that Britons will enjoy a 50% discount in trading fees for close to 30 days. The new rates go into effect on Monday and expire on October 2, 2016.

In the official blog post, LocalBitcoins mentioned the pivotal role UK traders played in establishing their trading business:
“The UK helped solidify the future of LocalBitcoins by being the first market to see growth in P2P trading which gave us enough money to hire our first employee.“
LocalBitcoins also recognized the tremendous impact of the Brexit vote on the value of the Pound Sterling, while saying the exchange will be more than happy to assist traders in exchanging their depreciating pounds for bitcoin.
“We remember the support you gave us in our early days, now it's time for us to give back and help you get out of the pound before it's too late.“
UK traders will only pay 0.5% commission on every trade for the duration of the promotion.

Weekly LocalBitcoins volumes in the UK stayed under £1 million for most of 2014-2105. However, weekly volumes for most of 2016 have hoovered above this mark, with volume for last week coming in at £1,463,038, according to data gathered by Coin.dance! While volume has been trending higher this year in the UK, it’s still short of the all-time record of £2,940,575, which was recorded during the last week of November in 2013.

Flag image by wallpapercave.com