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
Alternatives (in order)
- CEX.IO Review
- Coinbase Review
- GDAX Review
- Gemini Review
- Binance Review
- Kraken Review
- Poloniex Review
- HitBTC Review
- Bittrex Review