Yay or nay?

Discover what the internet is saying about LocalBitcoins.

Upgraded Reviews scanned the web to find out what real users are saying about LocalBitcoins.

See the highlights below and decide for yourself!

Pros and Cons

Table of contents

✅ Pros

ID verification is not required.
Review Pros
In some countries it is the only way to buy bitcoins.
The exchange has a strong security with two-factor authentication, HTTPS encryption, and Login Guard.
LocalBitcoins is available in almost every country.
There are no minimum or maximum transfers.
Traders are given a ranking based on their activity, in addition their trading history and feedback ratings are open for all to view.
There is wide variety of payment options.
LocalBitcoins has been in business since 2012.
It is fast and private.
When you request a trade the money you send is held on LocalBitcoins’ escrow service.
They have inherent security features.
You can also enable two-factor authentication for your account.
Buys made with cash deposit generally deliver bitcoins within 1 hour.
Minimal fees are charged by LocalBitcoins.
You don’t enter your bank account information and buy Bitcoin.
Trading fees vary and depend on whether you have placed an advert to sell.
Local Bitcoins doesn’t charge any fees to buyers on the platform.
LocalBitcoins employs the usual security features like two-factor verification, login guard and some additional features.
Cash payments are widely accepted.
Instead of being limited to a credit card or cryptocurrency, you can buy BTC with anything.
They have SMS and email alerts and the coins placed in Escrow are kept online on the site.
The site also does not impose any buying or selling limits.
You can buy as much as the seller is willing to sell.
It can be cheaper than other bitcoin and money transfer providers.
They accept a wide range of payment options.
It has large client base.
There is no shortage of buyers and sellers as the exchange has a map that co-located sellers with buyers in their region.
Escrow service is offered.
It has a competitive fee structure.
LocalBitcoins also has a reputation system and feedback mechanism to help the members distinguish the legit traders from the scammers.
The site is accessible in over 250 countries.
LocalBitcoins has been around since 2012.
You are protected by escrow in every trade.
The exchange operates in over 248 countries including US.
Localbitcoins offers support via email and the support team are generally quick to respond.
It is available worldwide.
LocalBitcoin is a secure and private way to purchase and sell bitcoins both off and online.
LocalBitcoins.com provides well-outlined information, and the entire website is easy to use and spot-on.
Quick responses to online support tickets are offered.
It is the largest P2P Bitcoin exchange website.
LocalBitcoins was one of the first peer to peer Bitcoin trading sites created and by far the largest one today.
LocalBitcoins works like an open outcry with people in the same location as you.
There are payment channels which take into account country-specific peculiarities.
LocalBitcoins has a support team ready to answer user questions and also resolve conflicts between buyers and sellers in case that happens.
No identification authentication is required.
LocalBitcoins is available in nearly every country, except Germany and the state of New York.
PayPal is now being accepted as one of the payment methods.
There are lots of payment methods.
In the event that a client runs into any issues, Localbitcoins provides a conflict resolution service via its customer support team.
LocalBitcoin provides you with a forum that you can trust to seek out the help from other users.
There are many methods for fiat currency delivery.
Support team on LocalBitcoins is well organized and competent.
The funds are discharged only after the vender confirms a successful exchange.
LocalBitcoins also offers a place for fraud and scam warnings.
Its longevity and track record should provide you with everything you need when questioning its legitimacy.
It allows you to buy bitcoins with many payment methods.
It allows anyone anywhere to trade.
It is simple to use.
It works everywhere in the world.
Strong reputation has been built by them over six years.
Localbitcoins has a dispute resolution system in place to handle issues.
Bitcoin can be purchased with any local Fiat currency.
There are several layers of security for users on the exchange.
There are no buying or selling limits imposed by LocalBitcoins.
It is available in more than 200 countries.
LocalBitcoins is one of the most private ways to purchase bitcoins
The seller sets their own prices, not a market price.
It has private buying options.
2FA allows users to confirm their sign-ins by having a PIN code sent directly to their mobile phone.
Local Bitcoins does hold all Bitcoins in escrow when you pay online..
Everything about the service is intuitive, and nothing is left to chance.
It has reasonable platform fees.

❌ Cons

There are many scams.
You need to keep an eye for scams.
Higher fees are charged for cash deals.
LocalBitcoins left New York because of the BitLicense.
There may not be many sellers in some countries.
Your transactions are only as trustworthy as the person on the other side of the deal.
Now an ID verification is required.
Dealing with individuals opens the option for scam.
Vigilance is required to ensure you are dealing with reliable providers.
The service isn’t available in Germany of the state of New York.
The speed of the transaction delivery times is reliant on the seller confirming payment which in some instances with a peer to peer network can take hours.
US Clients are not accepted on the exchange.
Filing a complaint can be frustrating and time-consuming.
Some methods are considered high risk.
Each payment method has its own price.
There are many scams and you need to use caution.
It doesn’t have the razor edge price discovery.
There is dependency on seller to confirm payment.
KYC requirements remove true anonymity.
You may be stuck with paying above BTC spot price.
Local Bitcoins is not an exchange in the traditional sense.
Last autumn Russia has blacklisted the site.
You’ll need to handle transfer details yourself.
Sellers are charged a 1% fee for every completed trade.
Buyers and sellers may set transfer limits.

Final Say

Read the summaries of what reviewers think about LocalBitcoins below.

Review Summaries
LocalBitcoins is the only peer-to-peer exchange platform made for buying and selling bitcoins for cash. Although cash purchases still attract a significant globe wide crowd, the ongoing security issues are gradually damaging LocalBitcoins reputation.
It is available in more than 200 countries. It can be cheaper than other bitcoin and money transfer providers. Quick responses to online support tickets are offered. There may not be many sellers in some countries.
Overall, Local Bitcoins is an established platform, and for the most part, it’s a safe and low-fee way to trade Bitcoin. As long as you exercise good judgment when selecting who to do deals with, Local Bitcoins can be a great platform for all your trading needs.
The LocalBitcoins is the great way to purchase Bitcoins if you’re looking to trade locally and protect your privacy. Otherwise, it may be too much of a hassle for you. Overall, this is a great exchange. However, it might not be the best choice for beginners.
LocalBitcoins works like an open outcry with people in the same location as you. It allows anyone anywhere to trade. There can be complications which mostly come in the form of couterparty risk and it also takes a 1% fee.
It’s a great service for those who want buy and sell quickly and privately online, or want to do it face to face. Transactions can be completed within minutes, an escrow account is used for added protection against fraud, and the 1% fee is lower than the fees you’ll find at major exchanges. Moreover, you have more than 60 payment methods you can use to purchase bitcoins.
It is the global exchange site that allows Bitcoin (BTC) investors to buy and sell the world’s leading cryptocurrency in a peer-to-peer manner. The site is accessible in over 250 countries. Minimal fees are charged by LocalBitcoins. Vigilance is required to ensure you are dealing with reliable providers.
LocalBitcoins has been around for a very very long time. The site offers seller and buyers from around the world to meet and trade Bitcoins. It’s like the Craigslist for buying and selling Bitcoin.
It’s a reputable, mostly secure, and convenient way to trade cryptocurrency almost anywhere in the world. You just need to be aware of scams and know how to stay safe.
Local Bitcoins is a trading platform created in Finland by Founder Jeremiah Kangus in 2012. Their mission is simple and straightforward, provide the general population with the ability to buy and sell bitcoins fast, safely and securely. It was created for the purpose of bringing Bitcoin to every country, person and device on the planet.
The LocalBitcoins are the great way to buy Bitcoins if you’re looking to protect your privacy and trade locally. Otherwise, it may be too much of a hassle.
LocalBitcoins is a legit company which has been around since 2013. There have been very few complaints of scam, which in most cases were as a result of people doing business with users without track records. Deposits and withdrawals are handled with dispatch and this is why more and more people in many countries are signing up.
Localbitcoins is a tried and trusted method of trading Bitcoin that has been embraced by the Bitcoin community. The site attempts to stay true to Bitcoin’s decentralized ethos and fills a very particular niche within the cryptocurrency ecosystem. The site is a good choice for those new to buying Bitcoin as well as more experienced traders.
LocalBitcoins is a P2P Bitcoin exchange. Buyers and sellers agree on trade terms, and LocalBitcoins is used as escrow. It is a is a global Bitcoin exchange that gives a lot of options to its users. LocalBitcoins itself does not impose any limits on its users. Users are free to decide on their own prices and limits.
LocalBitcoins is among the oldest and largest P2P cryptocurrency exchanges and those are perhaps its major advantages, in addition to the large number of payment methods for fiat currencies.

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