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LocalBitcoins Review 2025

Updated:

Brief Look at LocalBitcoins

LocalBitcoins, one of the oldest platforms for peer-to-peer (P2P) Bitcoin trading, shut down in February 2023. The main reason was the prolonged downturn in the cryptocurrency market (the so-called “crypto winter”). This downturn led to a decline in user numbers. The company admitted that it was unable to restore trading volumes to previous levels and was therefore forced to cease operations.
Additionally, LocalBitcoins faced increasing regulatory scrutiny. Since 2019, LocalBitcoins had been under the supervision of the Finnish Financial Supervisory Authority, which led to the implementation of strict KYC (Know Your Customer) and AML (Anti-Money Laundering) rules. Despite this, the platform came under scrutiny from U.S. authorities due to reports of user transactions involving the Russian exchange Bitzlato, which was accused of money laundering.
Although LocalBitcoins itself was not involved in any fraudulent schemes, users occasionally encountered scammers on the platform, particularly when attempting to bypass the built-in escrow system. Despite security measures such as two-factor authentication, the risk of fraud remained high.
The closure of LocalBitcoins marked the end of an era for P2P cryptocurrency trading, as the platform had been a pioneer in this field since its founding in 2012.

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FiiKahar
1 year ago
Location US Las Vegas

For any hack related jobs, crypto recovery or data and fund recovery reach out to (zattrecoverypro1 AT G mail c o m) they also help trace accounts that are hacked and track down scammers as well.

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Baldarml
2 years ago

I fell into their trap and for the 4th month I can’t win back my 4000 bucks. I don’t know if something will come of it, but I can’t leave such a sum to these deceivers. They wrote off the currency to the wrong place, although I entered the card number correctly, justified themselves with the only short answer “maybe you made a mistake with the card number”.

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KadokSus
3 years ago

There is no transparency on LocalBitcoins, as well as honesty... You won't earn much here, but rather you won't earn at all! They skillfully lure out money, they even advise taking a loan in order to make high-quality trade, but the result is a waste of money.

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malloryxk60
3 years ago

I find LocalBitcoins conditions to be optimal for me when it comes to Bitcoin trading. You can work, in fact, from different devices, trading through the browser goes. The interface is clear, making deposits, withdrawals and orders is easy, any beginner can handle it. For beginners, there are short guides here, for more experienced webinars. And this is one of the few companies where online lectures are held. I also explain the convenience of LocalBitcoins with a fixed commission: everything is simple and clear, 1% from each transaction. There is only one significant drawback of LocalBitcoins - here you can only trade Bitcoin. For me, this is the main tool, but I have to test work with other assets on other sites.

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rengga
4 years ago

In my opinion, LocalBitcoins is one of the best crypto exchanges. I note that registered users are given more opportunities. Thanks to the frozen wallet, the funds remain safe until they are sold or withdrawn. The big plus is that you can choose any payment system. I usually use a Kiwi wallet, as it opens up more offers. I chose LocalBitcoins among all the exchanges, as it inspires confidence. There are also quick withdraws (no need to wait a few days), and the commission is quite adequate.

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premontlp
4 years ago

I came to LocalBitcoins website to watch a tutorial video on how to buy and sell bitcoins, and decided to stay here. I have been buying and selling since 2018, everything is quite satisfactory. The interface is good, without any obscure sections. I use both English and Russian interface. The bitcoin exchange rate on LocalBitcoins is constantly updating. You feel secure when buying on this exchange — there is no fear that the funds will fly into the sky. It is important to use your account at least once a month, otherwise it may be frozen. I think that the blocking occurs in order to prevent fraudsters from using the user's data during the user's absence, so I consider this policy of the company rather a plus.

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ROFIZ
4 years ago

Cryptocurrency is my cup of tea. I buy bitcoins, get a decent income. Special thanks to the developers of LocalBitcoins for the fact that there are no lags. I also like the built-in converter, so you don't need to go to additional sites to calculate the cost. Prices are displayed up-to-date, and the exchange rate changes in real time. The platform itself charges the trader 1% for each transaction, which suits me quite well.

We constantly monitor the Internet for the emergence of new fraudulent schemes to deceive traders. We have been collecting data about scam brokers for more than 10 years and we think we know every dishonest company in the market. Below we have collected for you the information about the scammers from the List of SCAM Brokers.

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