LocalBitcoins is a globally renowned Bitcoin exchanger site that provides their users with several options.
Before diving into the detailed review of local Bitcoin, below are some of the advantages and disadvantages of about them:
- LocalBitcoins remains one of most secretive ways of buying Bitcoin online
- It’s the only way of buying Bitcoin in some countries
- You can buy Bitcoin using a lot of payment methods
- Not a scam
- One of the oldest Bitcoin exchanges
- LocalBitcoins does not impose selling limits
- Several payment methods are available
- bitcoins are usually delivered within 1 hour when Buys are made with cash deposit while in-person transactions are easy to organize and fast
- You need to exercise caution because there is a high level of risk and scam
- When buying with cash, charges may be a little high, as several people are willing to pay extra for the privacy LocalBitcoins offers
- For larger amount of purchase, some sellers will require ID verification.
- Reversible payment methods such as PayPal and others are not allowed
- Seller confirming payment determines the Speed of delivery, so sometimes there could be some delay (although it is usually around 15 minutes)
- Even as LocalBitcoins can be trusted, it’s not advisable for users to store bitcoins in the “LocalBitcoins wallet” LocalBitcoins exchange reputation is good, however, individual reputation of users on the exchange cannot be guaranteed
At LocalBitcoins users are not limited to a number of purchases. This means as a user, you can decide what your prices and limits would be.
Their services can be accessed in almost every country. However, Liquidity depends mainly on the total number of sellers and buyers in your area.
LocalBitcoins can’t be accessible in New York or Germany; bitLicense made them leave New York.
What sets localbitcoins apart from other exchanges?
The major diversity between many exchangers and Local Bitcoins is the fact that, they not necessitate personal information when making good trades.
LocalBitcoins is totally different from other exchangers because you can purchase bitcoin without having to connect your name to the bitcoin you’re buying. Many exchanges which require ID verification and personal information
LocalBitcoins maintains its privacy by not asking for I.D. verification or any personal information except the required signup email address. However, some buyers or sellers may request identification before transaction.
Accepted Payment Method
As LocalBitcoins user, you are free to buy and sell with any payment method of your choice. This depends mainly on the payment methods available in your location.
Speed : When are your coins delivered?
A payment method will determine the speed at which your bitcoins are available.
Can you trust local bitcoins
LocalBitcoins remains the largest and the one of the very first peer-to-peer Bitcoin exchanges.