Announcement | Buy & Sell ETH using localethereum Now Available on imToken

Localethereum lets you buy & sell Ether (ETH) using PayPal, Venmo, Alipay, Qiwi etc and cash. Using imToken, localethereum now recognizes your wallet address, so that you don’t need to login with a password anymore. Securely trade and conveniently receive your tokens within imToken 2.0: simple, quick, safe and private.

Just recently, Japan-based exchange Zaif has had approximately $59 million worth of user’s cryptocurrency stolen (see here). Since the first MtGox scandal in 2011, over $1 billion worth of crypto has been reported stolen at the hands of exchanges. The hackers were incentivized by the congregation of funds with central entities.

With localethereum, no central entity holds the custody of your tokens. Instead, your money is securely stored with a smart contract, until the exchange of ETH is safely confirmed on both sides of the trade.

You conveniently pay (or get paid) for your ETH using familiar payment options, such as Paypal, Venmo, Alipay, Wechat Pay, Qiwi, Skrill, Yandex.Money, MoneyGram, Western Union, M-PESA, cash, cash deposit, bank/wire transfer and more.

The integration with the latest web3-enabled localethereum website in imToken brought convenience to another level. With your consent, accessing localethereum in imToken detects your wallet address automatically — no need to remember yet another password.

Bought ETH drops directly into your imToken 2.0 wallet where you can trade it with other tokens (see: Tokenlon).

Localethereum is a peer-to-peer Ethereum marketplace

Localethereum is a peer-to-peer Ethereum trading platform. Using localethereum, you can trade Ether (ETH) with real people: either individuals like yourself or established businesses and brokers. Buyers and sellers connect on localethereum to circumnavigate the hassles and risks of centralized exchanges. Launched in October 2017, localethereum now helps people swap millions of dollars worth of Ether each week.

Over-the-counter (OTC) trading is simple, quick, safe and private. Similar to decentralized exchanges like TokenIon, localethereum enables people to swap ether for local currency without using a trusted intermediary.

Transfers of ETH between buyers and sellers are escrowed using a decentralized Ethereum smart contract. Instead of trusting a central authority to hold and release funds, localethereum’s escrow system is trust-less, never taking control of your ether. In the event of a payment dispute, parties can authorise the localethereum team to resolve the trade.

Messages between buyers and sellers are end-to-end encrypted using a mechanism inspired by the Signal protocol. Every conversation is protected by a unique secret key which self-destructs after completion to protect users’ financial privacy. Message history can only be deciphered if the secret key is volunteered to our team, for example during a payment dispute.

For more information about localethereum,