Local Bitcoins Review

Jared 8:18 pm

Local Bitcoins Review

Not My First Choice
Local Bitcoins provides a valuable bitcoin exchange service for certain countries where it's harder to acquire cryptocurrency due to local laws. However, their platform lacks great documentation, responsive customer service, and professional security. If you have any other options for buying and selling bitcoin, I would start there.
User Experience6.9
Security7.1
Payment & Fees8.3
Reliability8.2
Beginner Friendly7.1
Reader Rating0 Votes0
Pros
Various Forms of Payment
Cons
Poor User Experience
Backed Up Support
7.5
out of ten
Check It Out

Overview

Headquarters: Helsinki, Finland, EU

Description: Buy & Sell Bitcoin Near You

Website: https://localbitcoins.com/

24-hour trade volume: N/A

Availability: Worldwide

User Experience

Design

Local Bitcoins user experience is very minimal, similar to Craigslist or Wikipedia. Although the design aesthetically very basic, overall it’s fairly simple website to navigate.

Beginner-Friendly

No – Not a user-friendly design and it takes some time to figure out the difference between posting trades and buying and selling bitcoin.

Documentation

Forums are pretty helpful, but overall the documentation is pretty weak.

Customer Support

Current support ticket reply delays are approximately 10-12 days, please do not open multiple tickets it will only increase your waiting time. We’re very sorry for the issues and we’re working hard to resolve them.

Security

Verification Tiers

You can buy bitcoin without verification, however verifying your ID gives you access to more trades and better rates. Also, you must veryify your ID before you can post trades.

2-Factor Authentication

Yes – via Google Authenticator

Insurance

None

Storage

Since Local Bitcoins is decentralized they do not store any of your funds.

Encryption

n/a

Fees & Payment

Fee Structure

 

Free wallet to wallet transactions. 1% fee for every completed trade on the platform requiring the localbitcoins escrow service. This applies only when funds have to be held by Local Bitcoins if traders aren’t using traditional payment methods

Accepted Payment Methods

Cash, Credit / Debit, Venmo, Gift Cards, Paypal, etc.

Supported Currencies

 

BTC Only

Technology

Reliability

Variable – Depends on trader

Mobile App

No

FAQs

 

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