Veteran peer-to-peer (P2P) crypto marketplace LocalBitcoins has reported annual revenue of nearly $29.5 million for 2019. The revenue comprises a roughly 10% increase over 2018’s $26.9 million, however, the firm also noted a 6% drop in annual operating income to $19.8 million. LocalBitcoins’ staff also expanded significantly last year as the platform strengthened its know-your-customer (KYC) requirements in the third and fourth quarters of last year, with the firm’s headcount increasing from 26 to 43. LocalBitcoins stifles illicit activity “2019 was an invaluable learning experience for us, as we implemented anti-money laundering and know-your-customer (KYC) regulations," said LocalBitcoins chief executive …

Singapore-based blockchain firm Pundi X has integrated PayPal support for its point-of-sale device ‘Xpos.’ PayPal is the first mobile payment gateway to be integrated onto Xpos, and users from more than 30 countries can now accept funds via the payments processor. The integration will take place over two stages, with U.S-based merchants who use Xpos able to apply for PayPay-based keyed transactions from July 1. A PayPal app is expected to be integrated onto all Xpos devices within two weeks — completing the roll-out. 70% of Xpos users request Paypal support Pundi X decided to launch the integration after conducting …

The coronavirus pandemic has been hugely disruptive to crypto conferences and events around the world, but one company is determined to continue educating businesses and consumers about Bitcoin’s potential. Paxful, the peer-to-peer Bitcoin marketplace, is hosting a series of online sessions aimed at the African market. These one-hour events are designed to offer a compelling insight into cryptocurrencies for those who know little about what they are and their potential impact. Some of the continent’s best-known companies and individuals are also getting involved in the seminars. Championing Africa The first session was an “Ask Me Anything,” with the two co-founders …

Peer-to-peer Bitcoin (BTC) marketplace Paxful is integrating its platform with major cryptocurrency exchange OKEx. According to an announcement on June 15, the partnership will offer several payment methods for OKEx users through Paxful’s Kiosk to buy Bitcoin with over 160 fiat currencies, together with bank transfer, gift cards and online wallets, among others. Paxful customers will be able to access different trading options such as spot, margin, and futures trading, as well as the derivatives markets through OKEx's decentralized platform, DEX. Speaking with Cointelegraph, CEO and co-founder of Paxful Ray Youseff said: “The partnership between OKex and Paxful will open …

Peer-to-peer Bitcoin (BTC) trading activity in the United States surged to a new all-time high during the week of June 7, according to data published by UsefulTulips. Over the past seven days, nearly $29 million worth of Bitcoin has changed hands for U.S. dollars on leading P2P marketplaces Localbitcoins and Paxful. The past week saw only North America and Middle Eastern/North African trade increase, with all other regions posting slight declines in seven-day volume. Over $24 million in Bitcoin changed hands on Paxful in the United States alongside $4.6 million traded on Localbitcoins. With roughly $1 million trading on Canada’s …

Peer-to-peer Bitcoin (BTC) marketplace Paxful has reported significant increases in Indian trade volume as the country’s regulatory climate warms to crypto. Speaking to Cointelegraph, Paxful CEO Ray Youssef revealed that monthly new user signups have increased by 28%, adding that Paxful’s community on Telegram is approaching 10,000 members. The surge in sign-ups from Indian traders has followed the Supreme Court’s reversal of the Reserve Bank of India’s (RBI) longstanding ban on banks providing financial services to crypto firms. Indian volume and sign-ups spike on Paxful According to data published by UsefulTulips, Indian trade on Paxful has increased 883% from $2.2 …

A recent report suggests that the lack of traditional financial infrastructure makes Africa a place where cryptocurrency adoption is likely. The report — shared with Cointelegraph by a Luno representative on May 27 — sheds light on Africa’s financial infrastructure and the role that cryptocurrencies play in it. The author of the research, which was jointly conducted by market analysis firm Arcane Research and crypto exchange, Luno, wrote that the financial landscape seen on the continent plays a role in forming appetite for crypto in Africa: “Although it is a diverse region, African nations share some key similarities and trends. …

Crypto adoption is making significant advances in Africa, with crypto ownership, trade volume, and regulation all moving toward greater adoption. A recent report by Arcane Research and Luno found that Uganda, Nigeria, South Africa, Ghana, and Kenya are frequently among the top 10 countries by Google searches for the word “Bitcoin.” The report describes the continent as “one of, if not the most promising region for the adoption of cryptocurrencies,” emphasizing Africa’s combination of low existing crypto adoption alongside an “enormous” domain possibility. The firms emphasize that Africa exhibits a young population, frequent monetary crises and currency failures, large unbanked …

Multi-crypto wallet Infinito has announced a partnership with peer-to-peer Bitcoin (BTC) marketplace Paxful to integrate their services into the “Infinito Wallet.” According to the official announcement, Infinito users will now be able to buy Bitcoin directly from other crypto users around the world without any transaction fees involved. Speaking with Cointelegraph, Ray Youseff, CEO of Paxful, said the integration was a way of making crypto easier to obtain and use: “There is a growing trend in Bitcoin ownership globally. As an industry, we should work towards creating more crypto products that will be used for real-life use cases that can …

Crypto investors in Sub-Saharan Africa appear to be accumulating ahead of Bitcoin’s (BTC) halving next week. According to data published by Useful Tulips, surging African demand has driven record peer-to-peer (P2P) Bitcoin trading volume across Localbitcoins and Paxful, surpassing the trade activity posted during the peak of the 2017 bull run. Nearly $10 million worth of trade took place across the P2P Bitcoin markets of Sub-Saharan Africa, comprising a new all-time high for the region. Africa’s largest crypto market, Nigeria, produced its third-strongest week of P2P trade with $7.2 million worth of Bitcoin changing hands over Localbitcoins and Paxful this …

A survey published by peer-to-peer Bitcoin (BTC) marketplace, Paxful, has found that Americans with a working knowledge of cryptocurrency believe that the largest barrier to mainstream crypto adoption is a ”lack of knowledge” among the general population. The survey seeks to explore the longer-term outlook for crypto held by 500 United States-based men and women with a competent understanding of crypto assets. Is public understanding the biggest barrier to crypto adoption? Nearly 54% of respondents asserted that limited knowledge of cryptocurrency among the general public is the largest barrier to the widespread use of crypto assets. 34% of respondents answered …

Americans with a working knowledge of cryptocurrencies have been showing a rising interest in blockchain technology and cryptos. According to a survey conducted by the global peer-to-peer Bitcoin marketplace Paxful, this demographic increasingly views digital assets as an alternative to the “defective” and traditional financial system. Released on April 23, the study states that cryptocurrencies as an asset are maturing, and close to 50% of respondents believe that a triggering event in the traditional financial system will help people shift their focus to Bitcoin (BTC) as an alternative. The most common use cases for Bitcoin, according to the survey, include …