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What is LocalBitcoins and how the cryptocurrency marketplace works.

Localbitcoins review

Localbitcoins is Finnish crypto venue, which is used to buy or sell Bitcoin. BTC is the main Localbitcoins currency. The company started working in 2012 when such principles of work were entirely new for financial organizations. It is based on peer-to-peer scheme. It means that the users contact each other and agree upon the deal.
LocalBitcoins is a convenient way to start cryptotrading as its interface is clear even for novices. The beginning traders may not have crypto wallets but they get Localbitcoins wallet after registration. It is easy to keep digital coins on it. However, it is recommended not to keep cryptocurrency funds on the site. Use it as a temporary solution.

The service has earned a big reputation since it started working and became a global trustworthy exchange used by people on different continents. It embraces exchanges in 248 countries of the world. Each person can find the one in his area and apply there for exchange. There are various payment methods available on Localbitcoins. The users have to meet the requirements and pass the verification procedure to use the service. It is allowed to press the Buy button only when verification is over.
Looking for potential vendors, the person can track the trading history to find out if the reputation deserves to be trusted. One can contact the seller directly and clarify the questions causing doubts.

The process of purchase is easy. The following payment methods can be used for trading: PayPal, Western Union, Webmoney, Cash on Delivery, Wire Exchange.
The site uses escrow service, 2-factor authentication to improve security. Each trader has reputation ranking and feedbacks.
The customer support is available via email or forum that you can find on the site of the platform. 

The sellers have to pay 1% fee. It is worthwhile mentioning that BTC value is a bit higher on Localbitcoins. Centralized platforms offer lower prices for this commodity as it is peer-to-peer platform and higher value is required to be able to generate revenue from sale. If you do not like this fact, you can try other marketplaces. Compare the prices with the ones from AllCoin, Cobinhood, Etherdelta and Paribu and choose the ones you like best.

There are countries where this is the only way to acquire BTC. Even if it is not so, this is one of the most private ways to do it therefore users prefer such alternative. Once you’ve chosen Localbitcoins, log in and start trading without delay. It is even possible to trade on the go. There is, for instance, Android-based mobile app with open source code that can be improved. The users get the opportunity to conclude transactions easily at any time no matter where they are.
Tech-savvy users use LocalBitcoins API to get all data from the site and automate trading.

Customers may not doubt that everything necessary is done to ensure security to users. One can sell or purchase Bitcoin safely there. All users are verified before they are able to participate in the trades. Still one should be cautious before finalizing a deal and study the profile first to avoid scam.

It is recommended to select vendors with an account that is more than one year old. The person should have a good rating and more than 100 Bitcoin trades. Also, pay attention to such details as phone number, email address. It is also a way to verify the particular merchant. If you want to stay protected, you should contact the vendor via contact box of the service. Do not ignore this. In case the worst occurs, the escrow service will see all messages to make the conclusion.  

The support service is available round the clock. You can also apply to other users on forum and ask for advice. The support team also uses forum to explain unclear things to customers.

If you need to buy the crypto fast Localbitcoins can become an ideal platform for that. The global use is one of its advantages. Numerous payment methods also make the marketplace luring. Using Localbitcoins one should not worry over some trading limits.

 

What is LocalBitcoins and how the cryptocurrency marketplace works. ❆ ☀ ☁ ☂ - average rating 5 from 5 (based on 43 user reviews)