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Pro GPS-assisted local Bitcoin trading.
See who wants to buy or sell Bitcoin in your area, view their reputation score, and view their asking price.
Pro A variety of exchange rates
Use Bitstamp, Coinbase, Kraken, BTC-e, BTC China, BitcoinAverage, or modify by percentage points (one hundredth of a percent).
Pro Allows watch-only addresses
Monitor how much funds other accounts have, even if you aren't planning on spending anything.
Con Mandatory transaction fee
The transaction fee is .0001 BTC or 6 cents.