LocalBitcoinCash (LBC) is a new cryptocurrency exchange that was launched in January of this year and now can act as a fiat gateway for STEEM
Sorry, but I don't quite get it. To me, the headline of this post implies that a new STEEM/Fiat gateway has emerged. I understand that I can buy Steem with BCH, or with BTC, but somehow that fails to really thrill me. What am I missing here?
I just scratched my head over this too. It's basically localbitcoins, but BCC instead of BTC... I already have a localbitcoin account so I see no reason to sign up to another if it's the same function but a less popular site =/
Steem inc joins the btrash shillers! What's not to get?
You're right, it should be titled Steem->BCH->fiat.
Still a better alternative than sending Steem to Bittrex/Binance/Polol, exchanging them for BTC (0.1-0.25% fee) then withdrawing them as BTC (0.0005-0.001BTC withdrawal fee) onto an exchange where you can then trade BTC into fiat (~0.2% fee) + added fees for bank transfer probably.
This way you send Steem that doesn't cost anything to Localbitcoincash.org, where you can trade them for a certain fee (haven't checked what it is) onto BCH and then sell them for fiat.
It has at least 1 middlemen removed from the equation so that's a good start in my eyes.
Binance will soon add fiat to their exchange as well which will be similar to this, hopefully they'll give Steem fiat pairs as well to remove the extra trade.
Oh jeeze where do you always get this juicy info?? That day will be such a glorious day for me