Recently, the virtual market of Ethereum tokens was opened. It is a platform that allows users to sell and buy Ether cryptocurrency from user to user. The resource is called Cryptolocator, and its functionality is similar to Bitcoin-Marketplace Localbitcoins.
Cryptocurrency enthusiasts have long argued that it is worthwhile to expand Localbitcoins functionality to trade altcoins or create a separate resource for this purpose. Their idea came into life: Cryptolocator was developed, where users can sell the Ether currency (ETH) at the price they set. For the first clients (those who registered in October), the administration gives bonus: the commission for the resource services is four times lower.
Within a year, the cryptocurrency units of the Ethereum platform increased by more than 3000% in capitalization and rose in price from $8 to $300 per coin. This was due to the launch of the ERC20 tokens and the increasing number of projects implemented on the platform, as well as the growing popularity of the Ethereum brand. As a result, there appeared a circle of miners and buyers of ether, which needs a trading platform for P2P interaction. The international platform Cryptolocator was launched on October 10, where it is possible to buy and sell both Ether and other altcoins.
The mechanism and functionality of the platform are intuitively understandable for all who use Localbitcoins. There are several payment options when buying cryptocurrency: bank transfers, electronic money, cash. Sellers can set the price themselves. Protection of users is protected by technical support and freezing of funds on the account during the transaction.
According to the Cryptolocator team, if the network scaling is successful, the new marketplace will switch to smart contracts.
It is interesting that the Cryptolocator project did not carry out ICO, but attracted all funds through venture financing. This shows the potential of the project, which aroused the confidence of investors.