A new contender in the peer-to-peer (P2P) crypto trading space has emerged, challenging desktop-dominated platforms like Localbitcoins and Paxful. Tandem, a startup focused on mobile-first solutions, has launched a beta app on both Apple App Store and Google Play that allows users to buy and sell cryptocurrencies directly with each other while offering unique features — including in-person cash transactions and adjustable privacy levels.
Designed for Mass Adoption on the Go
Founded by Prashanth Swaminathan, Tandem aims to bridge the gap between traditional finance and the crypto world. According to the company, despite growing awareness of bitcoin since 2009, less than 1% of the global population truly understands or trusts cryptocurrency. The mobile app is intended to make P2P trading accessible to a broader audience, especially in regions where desktop usage is limited.
The platform currently supports over 50 countries with plans to expand to more than 100. Users can create buy or sell ads for BTC (with more cryptocurrencies coming soon) without any advertising fees. Trades are executed directly between counterparties, with Tandem acting solely as an escrow provider — not a custodian — ensuring funds are held securely during the transaction process.
Cash Trading Returns to P2P Exchanges
One of the most significant features is the ability to complete trades in-person using cash. This option was removed by Helsinki-based Localbitcoins in mid-2019, pushing many cash-oriented traders to alternatives like local.Bitcoin.com. Tandem brings back this functionality, giving users the choice to meet physically and exchange paper money for digital coins, or conduct the entire trade online via various payment methods.
A survey conducted by Tandem found that 60% of P2P traders prefer using a mobile app, and nearly 70% trade digital assets on a daily basis. The app also offers 28 fiat currency options and supports trades as low as $10.
Privacy-First KYC Tiers
Recognizing that privacy preferences vary, Tandem introduces two KYC levels. Level 1 only requires email verification, with a daily transaction limit of 1 BTC, maker fee of 0.3%, and taker fee of 0.6%. For users who want higher limits and lower fees, Level 2 requires photo ID verification, removing the daily cap and reducing maker fee to 0% and taker fee to 0.2%.
Swaminathan emphasized the company’s long-term vision: “Cryptocurrency is primarily known today as an investment vehicle for the rich. Over time, we at Tandem would like to change this narrative to benefit other sections of society within multiple nations.”
As the crypto industry evolves, Tandem’s mobile-first, privacy-conscious, and cash-friendly approach could reshape how P2P trading is conducted globally.
This article is for informational purposes only and does not constitute investment advice.