Crypto Post #51: LocalBitcoins Review

LocalBitcoins is a Finland-based decentralized Bitcoin exchange where users could locally buy and/or sell Bitcoin with cash or one of the many available payment methods. LocalBitcoins was established in 2012 and is known to be one of the most used platforms for Bitcoin trading by hundreds of thousands of traders worldwide. The platform is easy to use, and offers quick Bitcoin buying and selling transactions.

  • Buy/Sell Bitcoin Locally Almost Anywhere
  • Multiple Payment Methods
  • Easy To Navigate
  • Services In Multiple Languages
  • Affiliate Option Available

LocalBitcoins Details

Trading Platform Broker LocalBitcoins
Website LocalBitcoins.com
Founded 2012
Headquartered Finland
Payment Methods Paypal, Credit Card, National Bank Transfer, Cash (In-Person), Cash Deposit, Cash Through ATM, Cash By Mail, Postal Order, International Wire (SWIFT), RIA Money Transfer, ReloadIt, Gift Card Code (Amazon, Ebay, ITunes, Starbucks, Steam, Walmart), MoneyGram, WebMoney, Western Union, Google Wallet, Skrill (Moneybookers), Neteller, OKPay, PayPal My Cash, Payza, Paxum, Perfect Money, PaySafeCard, Payeer, Alipay, Square Cash, SoildTrustPay, Serve2Serve, Venmo, Walmart 2 Walmart, Vanilla, Other (Online Payment, Online Wallet, Remittance, Pre-Paid Debit Card)
Platform Type Decentralized
Exchanging Locations Over 248 Countries And 15,441 Cities
Trade Types Online Trade & Local Trade
C.E.O. Nikolaus Kangas
Fees Free (Buying, Selling, Registering, Transacting)/ 1% (If Ads Created)
Customer Service Contact Support Via Email
Social Media Facebook, Twitter, Instagram, Reddit, IRC Community Chat, Blog, Forum

Full LocalBitcoins Review

Platform Information

LocalBitcoins is an online decentralized exchange which enables buying and selling Bitcoins either locally with cash in-person or using one of the available payment methods. The buyer and seller agree to the terms of trade and the local bank or exchange platform (or physical money bills) will act as a custodian.

The supported payment methods are Paypal, Credit Card, National Bank Transfer, Cash (In-Person), Cash Deposit, Cash Through ATM, Cash By Mail, Postal Order, International Wire (SWIFT), RIA Money Transfer, ReloadIt, Gift Card Code (Amazon, Ebay, ITunes, Starbucks, Steam, Walmart), MoneyGram, WebMoney, Western Union, Google Wallet, Skrill (Moneybookers), Neteller, OKPay, PayPal My Cash, Payza, Paxum, Perfect Money, PaySafeCard, Payeer, Alipay, Square Cash, SoildTrustPay, Serve2Serve, Venmo, Walmart 2 Walmart, Vanilla, Other (Online Payment, Online Wallet, Remittance, Pre-Paid Debit Card).

Services are available in English, Spanish, French, Italian, Russian, Portuguese, and Chinese.

 

Account Information

The difference between LocalBitcoins and almost all other exchanges is that LocalBitcoins does not need any personal information when conducting transactions. Other exchanges require personal information and authentication. LocalBitcoins makes it possible for anyone to buy Bitcoin without having to connect a username to a Bitcoin-currency exchange transaction. While LocalBitcoins does not require personal information to be registered, except for valid e-mail address, some buyers and sellers may require proof of identity before the transaction. An affiliate program is available to all users, and affiliates could earn up to 40% in trading fees. So if you decide to open a LocalBitcoins account, make sure to use this affiliate link.

Trading Information

The delivery rate for each transaction depends on the payment method chosen. All of the buying, selling, registering, and transacting is FREE. A 1% fee per trade is charged if the user has posted a trade through a created advertisement. A user is advised to create an advertisement if considering actively and frequently trading through LocalBitcoins.

Customer Services

Customer support could be reached via email. Any user could send a request regarding any questions or comments related to LocalBitcoins. Other in-site services available include blog, forum, IRC chat room, FAQs section, and multiple guides on LocalBitcoins. Users could learn even more about LocalBitcoins using social networking services on Facebook, Twitter, Instagram, and Reddit.

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