Tandem, a cryptocurrency startup, has released a mobile peer-to-peer (P2P) trading app that combines the principles of decentralized money with traditional finance. The app, currently in beta on both Apple App Store and Google Play, allows users to buy and sell Bitcoin (BTC) directly with each other and includes the option for face-to-face cash transactions.
Mobile-First P2P Trading
According to founder Prashanth Swaminathan, despite growing awareness since 2009, Bitcoin remains known, trusted, and accessible to less than 1% of the global population. Tandem aims to drive mass adoption by targeting diverse geographies. At launch, the app supports users in over 50 countries, with plans to expand to more than 100 nations and regions.
Unlike established desktop-focused platforms such as Localbitcoins, Paxful, and Hodlhodl, Tandem is built from the ground up as a mobile product. Traders can publish buy or sell ads free of charge, and transactions occur directly between users while Tandem acts solely as an escrow provider, not a custodian. The app offers a feature-rich interface designed for on-the-go use.
In-Person Cash Trades and Privacy Options
Tandem revives the ability to trade cryptocurrency for physical cash, a feature that has become harder to find on major P2P platforms. For example, Helsinki-based Localbitcoins removed in-person cash trades earlier this summer. In contrast, Tandem allows users to meet and exchange digital coins for paper money, catering to privacy-conscious traders and those in regions with limited banking infrastructure. A survey conducted by the startup found that at least 60% of P2P traders wanted a mobile app, and nearly 70% reported trading digital assets daily.
The app initially supports 28 fiat currencies for trading Bitcoin Core (BTC), with plans to add more cryptocurrencies soon. To balance privacy and compliance, Tandem introduces two KYC levels: Level 1 requires only email verification, with a daily transaction limit of 1 BTC and fees of 0.3% maker / 0.6% taker. Level 2, requiring photo ID verification, removes the daily limit and reduces fees to 0% maker / 0.2% taker. Trades can be as small as $10, lowering the barrier to entry.
“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,” said CEO Prashanth Swaminathan.
By combining mobile convenience, cash trading, and flexible privacy settings, Tandem aims to challenge established P2P exchanges and expand the global reach of decentralized money.