LocalEthereum + Fortmatic, an alternative to fiat ramp — get your crypto P2P
LocalEthereum is a fantastic platform for users to trade crypto with fiat currencies peer-to-peer through smart contract escrows — you can also transact using apps you are already familiar with on top of cash or bank transfers, like Venmo, PayPal, and even WeChat (no lengthy KYC process required 🤯).
I am thrilled to share that Fortmatic is integrated as a mobile phone login option for LocalEthereum — opening up the doors for mainstream audience to acquire crypto. In addition to this great news, we’ll be offering users who signed up with Fortmatic on LocalEthereum between 08/23 4pm PST to 09/06 4pm PST a FREE TRADE!
I had an incredible personal experience using LocalEthereum just yesterday. As I’m planning a short trip to China, I panicked as I realized I couldn’t fund my WeChat account from my card anymore — since WeChat is almost required to make payments in China, many places don’t take cards, and I got laughed at for taking out cash last time I visited. I immediately thought about selling some ETH for RMB on WeChat using LocalEthereum as I’m working on this announcement.
Once I opened the trade to sell ETH, I was instructed to deposit ETH into the LocalEthereum escrow smart contract. I then coordinated the trade with the buyer through the end-to-end encrypted chat within LocalEthereum and sent him an image of my WeChat QR code. The buyer was super responsive in sending over the WeChat payment, and helped me out with the process. I then hit release funds button in the LocalEthereum UI, which confirms that I’ve received the funds and forwards the ETH in the escrow smart contract to the buyer. This whole process took less than 10min and I got some extra spending money in China, without going through any lengthy KYC process! 💥
If you are curious with the buying process instead of selling, LocalEthereum has a great step-by-step article as well.
LocalEthereum also has a reputation and dispute system built-in to help protect the buyers and sellers. I’m extremely satisfied with the process, and am excited by the potential to help more mainstream users trade crypto through payment methods they are already familiar with. I would also like to give a shoutout to Michael at LocalEthereum — despite all the challenges during the integration, he remained super patient with us and helped us with identifying our issues, and yet still decided to partner up and ran this promotion!
Limited time only: Users who signed up with Fortmatic on LocalEthereum between 08/23 4pm PST to 09/06 4pm PST gets a FREE TRADE!
If you are interested in learning more about Fortmatic and integrating with us, make sure to join us in our Discord channel or tag us on Twitter!
