Altcoins Talks - Cryptocurrency Forum
Learning & News => News related to Crypto => Topic started by: Tnoy30 on July 02, 2020, 06:52:47 AM
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LocalBitcoins reported a 10% increase in annual revenue for 2019 despite the platform's KYC overhaul impacting trade volume on the platform.
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.
Read on: https://cointelegraph.com/news/localbitcoins-revenue-up-10-despite-kyc-impacting-market-share
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I think it is safe to say that LocalBitcoin as a platform will be here to stay for many years. The platform has already shown its resiliency and having fend off many challenges it can be poised for more solid growth this year and beyond.