- Good for peer-to-peer Bitcoin trading with escrow and ID
- Bad for cash payments, no-ID trading, risk of scams
Check out our full list of pros and cons or read on.
LocalBitcoins P2P Exchange isn't available on Finder right now.
Find Bitcoin buyers and sellers near you on LocalBitcoins.
In this guide
Check out our full list of pros and cons or read on.
Product Name | LocalBitcoins P2P Exchange |
Fiat Currencies | AUD, USD, EUR, GBP, CAD, CNY & 120+ more |
Cryptocurrencies | BTC |
Deposit Methods |
Bank transfer (ACH) Cash Credit card Cryptocurrency PayPal |
Trading Fee | None |
Deposit Fees | Fees vary |
Withdrawal Fees | - |
1.8
Finder Score
★★★★★LocalBitcoins supports 1 cryptocurrency, but some notable assets are missing. Namely, Ethereum, Tether and XRP, which are in the top 20 cryptos by market cap. In total, 1 of the top 20 cryptos are available on LocalBitcoins.
Popular assets on LocalBitcoinsBefore you can even get started trading on LocalBitcoins, you have to go through the rigorous verification process (which usually involves providing proof of identification). This can take time. The reason for this is LocalBitcoins's commitment to certifications and compliance with regulations and insurers.
All centralised exchanges, including LocalBitcoins, are vulnerable to counterparty risks like hacking, theft and insolvency. Using a self-custodial or hardware wallet is widely accepted as the best way to improve the security of your funds. We've shared some of our top picks below.
Ledger Nano X Wallet |
Trezor Model T Wallet |
SafePal S1 Wallet |
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Supported assets 5,500+ |
Supported assets 1,000+ |
Supported assets 30,000+ |
Price (USD) $149 |
Price (USD) $129 |
Price (USD) $49.99 |
See more of the best crypto wallets
LocalBitcoins P2P Exchange is not currently available on Finder
Have you considered Kraken Cryptocurrency Exchange?
Buy, sell and trade a range of digital currencies on this high-liquidity exchange – suitable for beginners right through to advanced traders.
Andrew Finder
Editor
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fayemanuel Finder
July 30, 2019
Hi Faith,
Thanks for contacting Finder.
If someone gains access to your account and uses your wallet, LocalBitcoins will have no way to recover your funds. Please review their Service Terms found on their website.
Kind Regards,
Faye
J
December 12, 2017
I want to buy bitcoins from an account in Portugal. Can you help me? Can they be stored on this platform or what do I do with them once bought?
Harold Finder
December 13, 2017
Hi J,
Thank you for your inquiry.
Bitcoins cannot be held on LocalBitcoins exchange platform. It can only be used for buying and selling Bitcoins and other supported cryptocurrencies.
If you want to know how you can buy Bitcoin through LocalBitcoins exchange, a video tutorial and step-by-step instructions can be found on LocalBitcoins guide page.
Before you buy Bitcoin, you first need to get yourself a cryptocurrency wallet to be able to receive and store it.
As a reminder, cryptocurrencies are speculative, complex, and involve significant risks so please verify the nature of any product or service and consider your own circumstances before investing in cryptocurrencies.
I hope this information has helped.
Cheers,
Harold
Shahriar
August 21, 2017
Hello. I want to sell some coins in localbitcoins.com.
What are the safest options to receive money. If a buyer pays me through wire transfer, money gram, WU or cash deposit, and upon receiving bitcoin if he/she cancel the transfer, will localbitcoin will able to protect me from that?
Regards
Harold Finder
August 21, 2017
Hi Shahriar,
Thank you for your inquiry.
sending money over the platform is safe as long as you use the escrow service — LocalBitcoins will hold currency from both the buyer and seller before the funds are released.
Keep in mind that local trades don’t have escrow by default, and you should only complete in-person trades in well-populated areas. Finally, check the feedback for a buyer or seller before initiating any transaction.
I hope this information has helped.
Cheers,
Harold
Andrew Munro was the global cryptocurrency editor at Finder, covering all aspects of cryptocurrency and the blockchain. Andrew has a Bachelor of Arts from the University of New South Wales. See full profile
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Faith
July 29, 2019
Hi
What happens to my localbitcoin account if someone gains access to it.
Thank you