Top LocalBitcoins Alternatives

LocalBitcoins is a bitcoin buying and selling platform for local people founded in 2012 and based in Helsinki, Finland. The company helps bitcoin buyers and sellers to meet locally or perform local bitcoins transactions with local payment options easily, using the platform that is designed to meet the two parties together. With this platform, buyers and sellers of bitcoins can trade their bitcoins for cash and vice versa, and therefore help the bitcoin economy to grow globally.

LocalBitcoins is an innovative initiative by the LocalBitcoins Company that allows possessors of Bitcoins to sell them in a secure, peer to peer manner. Simply put, it is an online trading center for Bitcoins. The company is based in Finland, but owning to its service being online, it can serve people around the world. It has a simplistic interface, and its operations are extremely secure, making it a dependable marketplace for Bitcoins. The platform supports a large variety of digital payment methods and the seller may specify the favored payment methods for buying their Bitcoins. Sellers can set their own exchange rates for the Bitcoins as well. It has thousands of Bitcoin types available, which can be filtered according to country.

How does Bitcoin trading work with LocalBitcoins?

LocalBitcoins works basically like any other online marketplace where goods are sold directly from sellers to buyers. Like any such platforms, the seller needs to post an advertisement for their Bitcoin, while specifying its exchange rate in the local currency, limit and the payment method that they will accept, which can be anything starting from Google Pay to IMPS. The sellers for the Bitcoins can be sorted by country, exchange rate currency and payment system used. Also, buyers who require certain types of Bitcoins can post their ads on the website.

Very Low Bitcoin Transaction Fee

While other bitcoin exchange platforms may offer you big transaction fees whenever you trade your bitcoins for cash or vice versa, LocalBitcoins is a little bit different. It doesn’t apply any transaction fee for any of your local bitcoin transactions using this platform. However, it applies a very small amount of fee (1%) for each transaction that is done via the trade advertisement provided by this platform. Also, it offers 0.5% fee for each transaction using the merchant invoicing service from this platform. Aside from that, registering, selling, and buying bitcoins can be done completely free of charge when you choose to use this platform.

Post A Trade Advertisement To Find Buyer Or Seller Easily

This bitcoin exchange platform offers the option for you to post a trade advertisement to buy or sell your bitcoins more quickly. By using this service, you need to pay a very small fee for each transaction made from your trade advertisement. However, as a big benefit, you can put your advertisement in front of other bitcoin buyers and sellers in the platform. In this way, you can find your buyer or seller more quickly. For each trade advertisement that you post on this platform, you can pick your own preferences, such as preferred currency, margin, minimum transaction, and so on.

What options are available to Bitcoin buyers?

Similar to a marketplace, buyers of Bitcoins also have a lot of freedom in using the platform. The seller can see the trust level, verifications and escrow release times of the buyer, who need to make a detailed profile and verify their identity and authenticity several times. This ensures that the transaction process is smooth and no fraud is involved at all in the process. Additionally, the most prolific buyers are featured more than their counterparts, and the platform encourages users to buy and sell more and more Bitcoins, ensuring their prolonged circulations.

Local Transaction With Local Bank Transfer Option

One of the biggest advantages of LocalBitcoins is that you can find buyer and seller of bitcoins in your local area. In this way, this platform can provide you the way to meet the seller and buyer of bitcoins directly in the places around you. Or, you can perform the transaction with local bank transfer, which can be very convenient for most people. You don’t need to prepare your credit cards in order to perform the transaction, and you can always complete the transaction instantly and securely when you do it via local bank transfer. It gives a big advantage for both parties.

Make The Trade Directly With The Other Party

Meeting face to face with your buyer or seller of bitcoins may not be possible with the other bitcoin exchange marketplaces. However, with LocalBitcoins, you can do it quite easily. With this platform, you can agree to meet with the buyer or seller of bitcoins in the local area near you, and conduct the transaction directly. There is no third party involved in your transaction, and thus, you don’t need to pay any third party for the transaction fee. With this platform, you can perform the transaction directly with the other party, so that you can get all of your profit for yourself. This is true for both the direct cash transaction and the transaction done with local bank payment.

Conclusion

If you are looking for a good bitcoin exchange platform that you can rely on to find local bitcoin trade partners in your area, then LocalBitcoins is the best platform that you can use. With this platform, you can quickly find local buyer and seller of bitcoins, and get the transaction done quickly, either by meeting the buyer or seller directly, or by sending the payment via local bank transfer. Moreover, this platform doesn’t apply high transaction fees, and it doesn’t act as a kind of stock market trader for bitcoin users. It is just a platform that provides the way to meet the seller or buyer of bitcoins in your local area easily.