LocalBitcoins Review 2021

LocalBitcoins Review 2021
Davis J.
Robertson A.
January 2021

9

Position
in rating

Trading terminals:

Proprietary platform
9

Position in rating

8.8/10
Overall rating

Trading terminals:

Proprietary platform

Summary of LocalBitcoins Trading Company Crypto Exchange

LocalBitcoins Exchange (also LBE) is an international Bitcoin trading platform. The main office is located in Helsinki, Finland. It is one of the old-fashioned worldwide crypto exchanges, founded back in 2012. You can only trade Bitcoins on the LBE site. The exchange supports most options for depositing and withdrawing funds, including Visa / Mastercard debit cards and e-wallets. There is a cold and hot way of storing Bitcoin with the possibility of exchanging fiat funds. Funds in the account can be stored not only in Bitcoins but also in almost any world currency.

💰 Account currency: XBT
🚀 Minimum deposit: 0,002 XBT
⚖️ Leverage: 1:1
💱 Spread: Market
🔧 Instruments: Cryptocurrencies, currencies
💹 Margin Call / Stop Out: No
Attention!

We work with accounts opened exclusively through the Trading Union website.

👍 Advantages of trading with LocalBitcoins:

  • you can buy Bitcoins for almost any worldwide currency;
  • full-fledged localization in seven languages;
  • the trading application has a simplistic and convenient interface;
  • the platform operates under the AML and KYC laws;
  • there are webinars guides for newbies and professionals;
  • fixed commission 1% for all types of transactions.

👎 Disadvantages of LocalBitcoins:

  • only Bitcoin can be traded;
  • there have been fraud cases on the exchange in the past;
  • registration is limited for some regions.

Overall

LocalBitcoins differs from the vast majority of crypto exchanges in the specialization. You can buy and sell only Bitcoins on the platform. At the same time, there are no problems with exchanging Bitcoins for fiat funds. There are no transfer limits and one-time commissions for all types of transactions.

Visit LocalBitcoins

Geographic Distribution of LocalBitcoins Traders

Latest Comments 2021

14
0
1

Positive reviews increase standing and, of course, any negative reviews decrease its position in the ratings.

Just register and get authorized to submit a review of the broker’s activities and conditions on its platform. Everyone can and is invited to submit a review. All reviews of LocalBitcoins published on the website in 2021 are verified and confirmed by Traders Union as reliable comments by real traders.

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.

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.

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.

I'm on maternity leave right now, and I decided to increase my family's income, so I registered on LocalBitcoins. My husband was against it initially, saying that all this is nonsense. He changed his mind after my first month on the exchange. The purchase and sale takes place in an accelerated mode, the withdrawal is fast. I have been on LocalBitcoins for 3 months, and my earnings are not lower than the minimum wage. Contractors are honest. By the way, if you want to expand the selection of available sellers and buyers, you will have to pass verification.

In general, the exchange is quite good. For me, the best thing here is that everything happens without cheating. When choosing a counterparty, I can instantly find out how long he has been on the crypto exchange, how many transactions he has made. The exchange is reliable, I do not think that there will ever be a fraud. It is possible to choose a currency, usually I exchange it for a fiat currency. I have an income of up to $ 200 a month, but I am sure that this is not the limit. Long story short, I’m not planning to stop mining anytime soon!

Cryptocurrency trading is a great way to invest. The process of selling PTS on LocalBitcoins is quite simple: it is enough to accept an offer from the buyer or submit an application to the selected seller. It is easy to perform any actions on the exchange, as the interface is as clear as possible. I logged in, to gain the trust of the site and customers, and then filled in the current information about myself. As I understand, all my data was checked, so that I would not turn out to be a bot. I sell bitcoins for about 5 months. The profit is good, and much more than in my main job.

I buy and sell coins with ease, there are no snags. When I first came to this crypto exchange, I immediately understood where and why to click. Sellers and buyers are completely open — the profile contains all the necessary information. The calculations are clear: it automatically indicates how much you need to pay to buy the right amount of crypt. The purchase process is simple, just choose a suitable offer and pay for the purchase. So I recommend the exchange both to beginners and experienced users.

2 3 >

Expert Review of LocalBitcoins

LocalBitcoins is one of the few cryptocurrency exchanges that specializes in a single cryptocurrency. Since its inception, the platform has made it possible to trade only Bitcoins. Traders Union has been monitoring LocalBitcoins for more than 8 years, during which time the exchange has shown major technical improvements. The security system has been modernized, the transactional part has been optimized, and the interface has been simplified.

Nowadays, the interface and architecture of the LocalBitcoins’ trading terminal fully meet the current security and functionality requirements. Due to the complete transparency of interactions, the exchange organically excludes unreliable elements from the trader's network.

Traders Union experts point out other up-to-scratch features of the exchange. For instance, a flat commission for all types of transactions. LocalBitcoins does not oblige traders to keep money in the platform account; the user can use third-party wallets. There are no commissions for transfers within the site. At the moment, the exchange offers one of the most favorable trading conditions.

Antony Robertson

Traders Union
Financial Analyst

Analysis of the Main Features of this Crypto Exchange

8.8

Overall rating

8.5

/10

Execution of orders

9.1

/10

Investment instruments

8.9

/10

Withdrawal speed

8.7

/10

Customer Support work

8.4

/10

Variety of instruments

9.2

/10

Trading platform

Dynamics of the Popularity of LocalBitcoins
in 2020 among the Users of the Traders Union

Logo TU
20,0%
Top 3
10,0%
Top 5
7,0%
Top 10
5,0%
Top 20
1,0%
Top 40
0,5%
Top 100
0,2%
Top 100+
0,05%
Jan.
Feb.
Mär.
Apr.
Mai.
Jun.
Jul.
Aug.
Sep.
Okt.
Nov.
Dez.

Investment Programs, Available Markets, and Products of the Crypto Exchange

The LocalBitcoins crypto exchange allows traders to earn money through direct buying and selling of Bitcoins. The company does not offer investment programs, so the only option for passive earnings is a typical affiliate (referral) program.

Important!

If you are a large investor and plan on investments over $10,000, contact us at [email protected] or by the feedback form on our website. Our professional team will take you through all the intricacies of thedeal and all the steps from signing up to withdrawal of profits.

LocalBitcoins’ affiliate program:

The LocalBitcoins affiliate program is a universal referral system that allows any user registered on the platform to receive a portion of the commission from referral transactions. The affiliate program works like this:

  • If you are registered on the exchange, you can provide an unregistered user with a referral link to any page of the LocalBitcoins official website.

  • If the user clicked a link and registered on the platform, he has become your referral. You will receive 20% of the commission (1% of the transaction amount) for each transaction made by your referral. These conditions are valid for three months.

After three months, the user ceases to be your referral and you will no longer receive a percentage of his commissions. Payments for referrals are made every day, and all transactions are indicated in the corresponding section of the your personal account.

Rebate and Discount Programs of the Traders Union for LocalBitcoins

You need to register on the Traders Union website and use the referral link leading to the LocalBitcoins exchange website to receive a rebate for trading on the LocalBitcoins exchange. Registration on the crypto exchange’s website through the Trading Union gives you an outright advantage.

Information

The cryptocurrency exchange returns to the Traders Union 20% of the commission for each completed transaction. The clients of the Association receive 80% of this amount.

Example. You sell Bitcoin for US dollars and are obliged to pay $2,000. LocalBitcoins will withhold a 1% commission from this transaction, namely $20. Twenty percent of the commission will be paid by the Traders Union in the amount of $4. Eighty percent of the amount received by the Traders Union will return to you. In this example, you will receive $3.20 from the Traders Union.

Try it!  Try it!

Trading Conditions for LocalBitcoins Users

LocalBitcoins offers a standard minimum deposit like most other crypto exchanges. The wallet must have at least 0.002 BTC to conduct the minimum transaction. Additionally, we suggest that you familiarize yourself with the table on the general trading conditions of LocalBitcoins.

$1

Minimum
deposit

1:1

Leverage

24/7

Support

Proprietary platform
💻 Trading platform: Proprietary platform
📊 Accounts: Standard
💰 Account currency: XBT
💵 Replenishment/Withdrawal: Bank cards and accounts, electronic and cryptocurrency wallets
🚀 Minimum deposit: 0,002 XBT
⚖️ Leverage: 1:1
💼 PAMM-accounts: No
📈️ Min Order: zero-entry
💱 Spread: Market
🔧 Instruments: Cryptocurrencies, currencies
💹 Margin Call / Stop Out: No
🏛 Liquidity provider: No
📱 Mobile trading: No
➕ Affiliate program: No
📋 Orders execution: Not indicated
⭐ Trading features: Only Bitcoin, trading with most currencies of the world, free of charge exchange for fiat funds
🎁 Contests and bonuses: Not indicated

LocalBitcoins Commissions & Fees

Information

LocalBitcoins does not charge fees for registration, deposits, withdrawals of funds, or transfers between user’s wallets. On top of that, the exchange does not charge a fee for buying and selling Bitcoins. LocalBitcoins charges a commission for creating a trade transaction. This commission is fixed at 1% of the transaction amount. Bear in mind that there is also a fee for transactions with other Bitcoin wallets. The size of this commission is constantly changing, it is displayed in the section labeled "Fees for transactions with Bitcoins" within the user's account.

Account type Spread (minimum value) Withdrawal commission
Standard From $1 No

Traders Union experts have prepared for you a comparative table, which also contains data on the commissions of the closest competitors of LocalBitcoins so that you can visually evaluate the fee conditions of LocalBitcoins.

Broker Average commission Level
LocalBitcoins $1 Low
ByBit $20 High
LocalBitcoins
$1
ByBit
$20
Conclusion

The LocalBitcoins crypto exchange offers favorable trading conditions, but you can only trade in Bitcoins here. The large trading volumes, the ability to buy/sell using most currencies of the world, as well as exchange Bitcoin for fiat funds are the ultimate advantages of LocalBitcoins.

Contacts

Official site

Tags:

LocalBitcoins local bitcoins localbitcoins com localbitcoins.com

The Oldest Reviews of this Crypto Exchange

Positive reviews increase standing and, of course, any negative reviews decrease its position in the ratings.

Just register and get authorized to submit a review of the broker’s activities and conditions on its platform. Everyone can and is invited to submit a review. All reviews of LocalBitcoins published on the website in 2021 are verified and confirmed by Traders Union as reliable comments by real traders.

I have been a member of LocalBitcoins since 2019, and I can certainly call this platform trustworthy. I especially like to change the BNB token here, because the commissions are minimal. The crypto exchange is reliable, there is no risk of running into scammers, as the counterparties are carefully filtered. Currency sellers act honestly, without arousing suspicion. The most important advantage of this exchange platform is the high speed of transactions. You can top up your account in various ways. Due to the fact that the choice of sellers is large, everyone can quickly choose the right one for themselves.

I’ve known about cryptocurrencies for a long time, but I did not believe that you could increase your capital quickly and easily. This crypto exchange was recommended to me by friends who have been mining on it for about 4 years. I had to log in to check the algorithm of the exchange. You can create a standard account or purchase a Pro account, which opens up more opportunities and provides more guarantees. I’m very content with this exchange platform, the exchange process here is clear and completely transparent.

I buy crypto on several exchanges, but I spend most of my time on LocalBitcoins. The interface is simple and will be clear to any user. Last month I bought 4000 Satoshi, which is great for me personally! All information about the seller is open, which gives you great confidence. If you have any difficulties or questions, you can contact the support specialists via Facebook. When I had problems with registration, I was answered within 2 hours, which is, actually, very quick. If LocalBitcoins had existed 11 years ago, I would not have suffered with other exchanges, but would have immediately come here.

I have been mining for about 3 years on this crypto exchange. Back in 2017, I was searching for the most popular exchanges on the Internet, saw this one in the list and decided to register. The trade is carried out directly through the communication of the seller with the buyer. I like the fact that you can get a decent income by spending a small amount. There was a problem with the fact that you had to re-identify your identity when withdrawing funds. At first, this infuriated me, and then it became clear that this was done to increase the security of user funds.

It was not possible to register on LocalBitcoins the first time, since my application was rejected. But on the second attempt, the registration was successful. I think that’s because employees carefully check the data of each user, to ensure that real people trade on the exchange. I visit the exchange every day, and during my first 1.5 year I managed to earn about 1 bitcoin. I like everything here, so I don't plan to look for another crypto exchange yet.

The company has maintained its reputation for several years and is in the top crypto exchanges. I like the fact that the buyer and seller can contact each other directly, without any intermediaries. The data about the counterparty is open for viewing, so you can choose the one you like. I usually cooperate with those who have been active on the exchange for a long time. I am also glad that all transactions are fast and without delays.

Quotes are accurate, trading is easy. I often sell bitcoins. I like the fact that the funds are frozen in the wallet until the moment of the transaction, and thanks to that, the currency can not be lost. Notifications are well configured, so you don't have to constantly visit the site to check for events. I receive notifications by email, which is very convenient. Everything is fine, but I would like to expand the list of cryptocurrencies.

Author of this Review

LocalBitcoins broker’s review prepared by

John Davis

Traders Union Author and Analyst

John Davis is a Financial and Economic Analyst working with the Traders Union since 2016. During this time, he has written more than 100 analytical articles on technical and fundamental analysis, reviews of financial companies and has developed more than 10 proprietary trading systems. John's motto is to help everyone go from a novice to a professional trader.

All information posted on the Traders Union website is based on reliable and objective data. We have combined our 10 years’ experience in the financial sector and the feedback of our customers to provide you with a true picture of the best forex companies in the market. Detailed information about our methodology.

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FAQs

Do reviews by traders influence the LocalBitcoins rating?

Any review can raise or lower the rating of any broker in the general list of brokers. To read reviews about LocalBitcoins you need to go to the broker's profile.

How to leave a review about LocalBitcoins on the Traders Union website?

To leave a review about LocalBitcoins, register on the Traders Union website or you can also leave a review through Facebook.

Is it possible to leave a comment about LocalBitcoins on a non-Traders Union client?

Anyone can leave feedback about LocalBitcoins on multiple participating clients; however, Traders Union clients also receive additional payments later for working with any broker listed at the Forex market.

Why is it more profitable to work with LocalBitcoins through Traders Union?

Because you will receive additional payments from Traders Union every month while all other functions on your chosen trading platform remain the same.

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