How business model works in localethereum platform?
Localetherum is a ether peer to peer marketplace where a trader can buy or sell their ethereum through fiat currency like USD/EUR etc.
Localethereum has two type
The localentereum has online trading platform between buyer and seller the is no middleman it is decentralized through escrow smart
Contract. In some case, The escrow arrives whether they receive a dispute from anyone traders.
The peer‐to‐peer localentereum has OTC trading platform for the Crypto trader in an offline method.
How does localethereum works?
The localethereum can be worked through the escrow smart contract method. Now, you want to sell your ethereum crypto to someone in localethereum just sign in using a username,mail id, and password.
Your e-mail address is used for two-factor authentication method to protect your account.
After the verification,you can get your own dashboard in that you can make your offer like Sell or Buy ETH, Decided your payment method, Fix your local currency and set limits for eth etc.
You can click "my offer" option in below form. If you did some mistakes in your offer don't worry you can edit .
After your offer publicized certain 15 buyers listed sorted through the main page. If you have doubt you can check the buyer reputation, price, location, payment method.
If you selected the correct trader for you then, new form will open to confirm your etherum price once you fixed the price never change then automatically your ether will deposit in escrow smart contract.
Now, You can chat with buyer through encryption to encryption chat.The buyer can see the right side form with "Marked Paid "option after sending the payment to the seller he/she click the marked paid option.
Now, the seller can verify the payment then click the released option from the right side form. then, escrow will release the bitcoin through the buyer wallet.
If the is problem between trader anyone can click “Dispute Resolution”.
Revenue of the localethereum
They follow maker and taker model
The maker is who offer to the trader its charge 0.25%.
The taker is who is a response to the ads its charge 0.75%.
Security features in Localethereum
End-to-end encryption chat .
If you also need this type business model process in your exchange platfrom.Sellbitbuy software company provides localethereum P2P features with advanced technology features.