- 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.
Find Bitcoin buyers and sellers near you on LocalBitcoins.
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 | - |
Disclaimer: This page is not financial advice or an endorsement of digital assets, providers or services. Digital assets are volatile and risky, and past performance is no guarantee of future results. Potential regulations or policies can affect their availability and services provided. Talk with a financial professional before making a decision. Finder or the author may own cryptocurrency discussed on this page.
On 9 February 2023, LocalBitcoins announced that it will be closing down its peer-to-peer (P2P) trading service.
LocalBitcoins announced via Twitter that it would no longer provide its Bitcoin trading service. The platform encouraged users to withdraw their funds from their LocalBitcoins wallets within the next 12 months, and let users know that its Customer Support team is still available to field questions and/or provide any assistance users might need.
Finder Score
★★★★★LocalBitcoins supports 1 cryptocurrency, but some notable assets are missing. Namely, Ethereum, Tether and BNB, 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 proof of identification). This can take quite a long time. The reason for this is LocalBitcoins's commitment to certifications, and compliance with regulations and insurers.
All centralized 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 1,456+ |
Supported assets 30,000+ |
Price (USD) $149 |
Price (USD) $219 |
Price (USD) $49.99 |
See more of the best crypto wallets
Whether products shown are available to you is subject to individual provider sole approval and discretion in accordance with the eligibility criteria and T&Cs on the provider website.
Are you visiting from outside the US?
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
Faith
July 29, 2019
Hi
What happens to my localbitcoin account if someone gains access to it.
Thank you