At LocalBitcoins.com, people from different countries can exchange their local currency to bitcoins. Peer to peer exchanging of Bitcoin was one of the earliest ways to get bitcoin.  In this review we will try to give you a summary of how the system works and why they are different.

But the name says it all, the system matches people that are in relative close proximity to each other in a buy or sell transaction.  In other words, a local bitcoins transaction.

Features

  • Name: Localbitcoins.com
  • Location: Helsinki Finland
  • Founded: 2012
  • Fiat Currencies: 248 countries
  • Cryptocurrencies: BTC, 
  • Buy/Sell: CASH, Bank Transfer (SEPA), Credit/Debit Card, Cryptocurrencies, SOFORT, Netteller
  • Registering, buying and selling fees: free

Pros

  • Human to human interaction
  • 248 countries to choose from
  • varied payment options and currencies
  • Most services are free.
  • escrow payment protection
  •  Several security layers

Cons

  • US not accepted
  • Reversable transactions are possible
  • Very slow customer support
  • no hard wallets available
  • scams and holdups are possible
  • no more true anonymity possible due to KYC rules

Extra Features

Safety

The system is built for security and most reports of scams come from user carelessness

Location based

The buyers are quickly and locally matched with sellers and vice versa over the app.

No Government

it is one of the means of buying bitcoin that can be used all over the world without restrictions

Reputation

having been around and thriving over seven years in a industry 10 years old is amazing

Everywhere

248 countries and 16626 cities

Fee stucture
low fees 92%
Customer Service
slow ticket support 64%
Reputation
Trust value 80%
User experience
Look and feel 90%
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