Screenshot of the homepage of LocalBitcoins.com Go to LocalBitcoins.com >>General Overview
- Helps you find local people to trade with
- Available in all countries in the world
- More than 1 million active users
LocalBitcoins.com detects your location and finds people near your area with which you can directly trade cryptocurrencies. Depending on your location, you can find people accepting various kinds of payment methods, including PayPal, Western Union, cash in-person, and others. You can choose with whom to trade based on reputation.
Cryptocurrency support
Supports virtually all cryptocurrencies depending on the traders in your region. The most traded cryptocurrencies are:
- Bitcoin (BTC)
- Ethereum (ETH)
- Monero (XMR)
- Zcash (ZEC)
- Cardano (ADA)
- EOS
- Tron (TRX)
- Ripple (XRP)
ID Verification info
If you plan to sell cryptocurrencies, then it is a good idea to identify yourself so that you have a higher trust rating on the platform. Successful verification of identity enables you to trade with more people.
It takes 1-5 minutes to get verified.
You can verify by uploading a photo of any of the following:- Passport
- Driver’s license
- Identity card (ID)
Security
When an account is opened, the IP address of the computer is recorded, and in case of changes, a new verification process is undertaken. However, fake LocalBitcoins mobile apps have been launched in the past. Most of the users, therefore, prefer to use the website directly. The exchange does not have an official mobile app.
- Two-factor authentication (2FA)
- Escrow service
- Dispute system
- Login Guard
Country availability
LocalBitcoins is available in all countries on the planet. According to them,they operate in 248 countries and 16,624 cities.Trade Volume
Data from coin.dance indicate that weekly volumes from LocalBitcoins fluctuate greatly, currently around $50 million. This is low compared with other established exchanges, such as Binance, which records about $5 billion in trade volume weekly.
Payment methods supported
Since it is a peer-to-peer exchange, sellers have the liberty to dictate the payment methods they accept. The most popular ones so far are:
- Cash
- Bitcoin and other cryptocurrencies
- Bank transfers
- PayPal
- Western Union
- Credit/debit cards
- M-pesa
Fees
- Free to register, buy, and sell cryptocurrencies
- Bitcoin network transaction fee
- Sponsored listing are charged 1% for every completed trade
Limits
- No minimum buy amount for buyers
- Minimum selling order: 0.04 BTC
- No difference between verified and unverified accounts
Lastly, to become a pro-trader on the site, you have to have an active account that is more than 150 days old, have received at least 100 positive feedbacks, and have traded at least 20 BTC within a given time period.
Go to LocalBitcoins.com >>