Localbitcoins Review

Localbitcoins Review

Localbitcoins is a great place to buy or exchange Bitcoin because of its huge traders community. Big variation of accepted payment methods, almost all countries supported makes it even more attractive. This and more you will find in this Localbitcoins Review here.

Supported Cryptocurrencies
  • Bitcoin (BTC)
Offered Services
  • Buy Bitcoin
  • Sell Bitcoin
  • Wallet
Payment Methods Accepted
  • Wire transfer
  • SEPA transfer
  • Cash
  • Skrill
  • Neteller¬†
  • Bank deposit
  • Paypal*
  • Many other options
Fees
  • Free for the buyers
  • Sellers are charged with a 1% fee for every completed trade (seller must create advertisement)
Verification Process
  • That may be decided by the seller. Some may require to provide ID before placing a trade request
  • Localbitcoins can ask for additional verification if needed also
Supported Countries

All countries excl. Germany and New York state.

Localbitcoins Front Page
Speed

It depends on the seller. Most of all trades are completed in minutes.

Limits
  • No limits imposed by Localbitcoins
  • Users are free to decide what their limits are
Privacy

You can manage how much of information you want to reveal. If you want top privacy - buy Bitcoin with cash.

Security
  • Two-factor authentication
  • Escrow
  • Login Guard
Pros
  • Probably the biggest number of supported countries
  • Many payment methods accepted
  • Escrow provides additional security for your trades
  • Platform can be used for speculation
Cons
  • Possibility of being scammed
  • Sometimes Escrow can be slow
  • Do not support cryptocurrency other than Bitcoin
Conclusion

Finally, this is the place where users can not to buy Bitcoins only, but speculate it too. However, it depends on user location, and payment methods can vary. Besides that, there are reports of scam cases so traders are asked to be careful. Despite everything Localbitcoins is one of the top places where Bitcoins can be bought.

Rating
8/10