- Buying fee
- Easy to use interface
- Number of available payment methods
- Good customer support
- Strong security
- Available tutorials
- Altcoins are not supported
- P2P trading supported only
- High trading fees
LocalBitcoins is a peer-to-peer bitcoin exchange founded in 2012, in Helsinki, Finland. Platform has more than 1 million active customers making trading volume 200 million USD a month. Currently platform is accepting users from 200 countries worldwide, however, due to US regulations, US customers are unable to use LocalBitcoins.
Due to the fact that LocalBitcoins is peer-to-peer trading platform, users have plenty of available payment methods, which can vary according the country. In case you want to sell your crypto assets, you will need to list your offer in the marketplace indicating the exact amount. If someone accepts your offer, your crypto assets will be frozen until seller pays your order. All that allows both buyer and seller feel secure during the exchange procedure.
In addition, platform allows your to review profile of the person you are making deal with by viewing amount of successful orders, verification of accounts, reputation, etc. Usually, the final commission of the deal is much lower than other exchanges.
LocalBitcoins transaction fees may differ according to the current state of Bitcoin network. However, transactions between wallets managed inside exchange are free of charge. Moreover, commission on buying crypto is also 0%, but selling will result in a 1% commission.
If you are new in crypto world and haven’t used the platform before, LocalBitcoins offers a set of guides and webinars helping you to build some knowledge.