This post contains affiliate links. Before reading more, an important disclosure.
LocalBitcoins is a P2P Bitcoin exchange. Buyers and sellers agree on trade terms, and LocalBitcoins is used as escrow.
The average buy price on LocalBitcoins is usually 5-10% higher than the average global rate.
The difference between Local Bitcoins and most exchanges is that LocalBitcoins does not require personal information when making trades. Unlike other exchanges, which require ID verification and personal information, Local Bitcoins allows you to buy bitcoin without connecting your name to the bitcoin you’re buying. The 5-10% premium is simply the cost people are willing to pay for privacy when buying bitcoins.
- Payment Methods Accepted
- Supported Countries
- Limits & Liquidity
- Customer Support
Payment Methods Accepted
LocalBitcoins users are free to accept any payment methods. The payment methods available to buyers will depend on what’s available in your area.
LocalBitcoins is available in nearly every country. Liquidity will depend on the amount of buyers and sellers in your area. LocalBitcoins is not available in Germany or the state of New York. LocalBitcoins left New York due to the BitLicense.
LocalBitcoins is private and does not require I.D. verification or any personal information besides and email address to signup. While LocalBitcoins itself does not require personal details, some buyers or sellers may request identification before making a trade.
Limits & Liquidity
There are no limits, but it may be hard to buy large amounts of bitcoin.
The speed at which your bitcoins are available will depend on payment method.
LocalBitcoins was one of the first P2P Bitcoin exchanges, and the largest one today.
LocalBitcoins charges a flat 1% fee on all trades.
LocalBitcoins offers support via email.Visit localbitcoins.com