LocalBitcoins Reviews

LocalBitcoins logo
Truely score heart icon

3.3/5

#21 Cryptocurrency Trading Platforms

410 reviews

Local Bitcoin is a user-friendly, peer-to-peer Bitcoin exchange site that allows you to buy and sell Bitcoin everywhere, regardless if it’s near you or around the globe. This virtual marketplace is the best cryptocurrency trading platform for both Bitcoin buyers and sellers since Bitcoin traders can easily post advertisements about their price and payment methods—and buyers can scroll through these ads to get the best deal.

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Truely score

Truely score heart icon

3.33

from 410 analyzed reviews

Pros

Reviews with positive sentiment

-

Cons

Reviews with negative sentiment

-

Last updated on March, 7

Features

Multi-Crypto Wallet

Fee Trading

With Fee Trading

Free Trading

PCI Compliance

Portfolio Tracking

24/7 Support

Starter Account

Pro Plan

Margin Trading

Zero Fee Trading

Reasonable Deposits

Big Withdrawals

Corporate Account

Cashback

Prepaid Card

Free Crypto Trading

Referral Program

Refunds

Firewall Security

Ranking

Overall ranking

21

Last updated on March, 7

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About the seller

Seller

LocalBitcoins

Frequently Asked Questions

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What makes LocalBitcoins different?

LocalBitcoins stands out from the crowd because of how they allow traders to directly communicate with one another. This means that you’re actually talking to other humans instead of machines. If you’re a stickler for finding the most reliable cryptocurrency trading platform out there, LocalBitcoins helps you check out an ad’s social proof level. Plus, you can talk to the sellers to negotiate some of their deals and get the most out of each Bitcoin exchange. LocalBitcoins offers traders a wide variety of payment options since they know how sellers prefer certain encryption methods. This makes the transaction completely smoother and faster.

What countries does the LocalBitcoins platform support?

LocalBitcoins allows more than 200 countries to exchange on its platforms. Although, this specific trading platform locks out certain cryptocurrency users due to international financial regulations or restrictions. These countries include China, Indonesia, North Korea, Syria, and the US. Unfortunately, a large number of bitcoin users are from the US, and they can’t access one of the best cryptocurrency trading platforms.

Is LocalBitcoins safe?

Yes, you can simply go through cryptocurrency trading platform reviews for further verification. Just like any other trading platform, you still need to be cautious of some scams—scams that somehow manage to breach LocalBitcoins’ escrow service. There are two famous scams to date, such as the Chargeback Fraud and Man in the Middle Scams.

How do I create an account at LocalBitcoins?

Just follow these three easy steps:

Step 1:

You just need to register an account on LocalBitcoins—one of the best cryptocurrency trading platforms out there. Fill out their forms with needed details.

Step 2:

You need to get your profile verified through email confirmation and identity-authentication.

Step 3:

You can now start posting your own advertisements or browsing through them.

Is it possible to register a business with LocalBitcoins?

Yes, but experts don’t recommend it since customer support response is usually swamped. Registering a business with LocalBitcoins means verifying your account with your ID and waiting for LocalBitcoins to go through your application.

How do you get your LocalBitcoins ads on the first page?

As long as you fulfill all of LocalBitcoins’ requirements for an ad, then you have a high chance of getting on the first page. The requirements consist of the number of trades, feedback score, recent feedback, account age, price per bitcoin in the ad, payment method and its popularity, and total and recent amount of bitcoins traded by you.

My LocalBitcoins account got blocked, what do I do?

Try clearing out the cache and cookies on your web browser, and then try doing your transaction again. Also, try reading through their terms and agreements to check if you violated certain regulations. If all else fails, contact LocalBitcoins’ customer support service through their contact forms.

How can I increase the security of my LocalBitcoins account?

Just follow these six simple tips:

Step 1:

Enable the two-factor authentication feature of your account.

Step 2:

Ensure that your Login Guard is enabled.

Step 3:

Use a strong password that comprises at least 10 characters.

Step 4:

Use a different password for this specific LocalBitcoins account.

Step 5:

Avoid giving your password to other people, even if they’re close to you.

Step 6:

Don’t use an email provider that doesn’t require a password.

What do I do if someone else has accessed my LocalBitcoins account?

Immediately change your password, and contact LocalBitcoins’ customer service to explain what happened. In the customer ticket form, make sure to include relevant profile information, such as your name, associated email address, IP address, and associated phone number.

I’ve paid the seller but I haven’t received my bitcoins yet. Is this normal in LocalBitcoins?

Ideally, as soon as you pay for the bitcoins, the seller should immediately release the bitcoins. If you still haven’t received the bitcoin within a couple of minutes, contact the seller. The last resort is to dispute the trade, you have approximately 1 hour to directly dispute dodgy transactions.

Are third-party payments allowed in LocalBitcoins?

Absolutely not. You are not allowed to do transactions using third-party payments, this is clearly stated in the terms and regulations of LocalBitcoins. This is to avoid added confusion and verifications issues to the transaction.

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