Peer-to-peer trading is taking center stage in the world of cryptocurrency. For Ethereum enthusiasts, a platform by the name of LocalEtheruem is worth keeping an eye on as of right now. The team is introducing a lot of new changes in quick succession, most of which are designed to make the platform a lot more secure to use.
#3 Keeping Encryption in Place
When using third-party cryptocurrency services, there is a growing demand from users who want to keep as much information secure as possible. Encryption plays a big role in this regard. The LocalEthereum team acknowledges this demand and ensures their encryption will remain in place for an extended period of time.
Moreover, the funds users buy and sell through LocalEthereum will never touch the server itself. Leaving users in control at all times is the only course forward when it comes to dealing with cryptocurrencies in 2018 and beyond. It is good to see the team will not deviate from this original approach despite how appealing it may seem to do so.
#2 Bye Bye Password-based Authentication
One particular problem affecting exchanges, P2P trading platforms, and other options is how there is still a need to rely on passwords. Humans are notoriously terrible when it comes to using secure passwords, especially when it pertains to financial services. For LocalEthereum users, the password-based authentication method is coming to an end fairly soon.
As such, the team is introducing a solution which removes the need for passwords altogether. It is a more than welcome change of pace, and something that could – or perhaps should – have been implemented many months ago. The option will remain available to users who prefer this method, yet the platform will advocate for a new and secure solution to take center stage.
#1 Direct Wallet Integration
On the surface, it may seem odd as to why there was never any real support for the most popular Ethereum wallets on LocalEthereum directly. That situation is now coming to change, as users can replace their username and password by using these popular wallet methods such as imToken or MetaMask. A radical change, although one that puts a positive spin on this P2P trading platform.
Because of this direct connection with browser extensions and popular Ethereum wallets, the platform is slowly moving to a very different infrastructure altogether. With both password-based and wallet-based authentication now available, LocalEtheruem is finally becoming a more professional platform capable of driving ETH demand to new levels. Companies and service providers need to keep growing and evolving at all times, especially in the cryptocurrency industry.