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Best Coin Exchange » LocalBitcoins
LocalBitcoins
User rating
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LocalBitcoins

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    Company name
  • Company: LocalBitcoins Oy
    Founded: 2012
  • Server location
  • Server Location: DE
  • Company's turnover in dollars
  • Turnover: $8,466,884.65
  • Mobile version
  • Mobile version:
  • BTC price
  • Current BTC price: -
  • Available currencies
  • Currencies: EUR, GBP, USD
  • Withdrawal fee
  • Fee: From 1%
  • Withdrawal time
  • Time: 2 day
  • Application programming interface
  • API: Yes
  • Support via
  • Support: Tickets

LocalBitcoins Review

 

LocalBitcoins is a Bitcoin trading site. Probably the main difference on this site is the option to buy or sell Bitcoins directly from people using cash. The company is registered in Helsinki, Finland. It is a rather small company as of now there is only 4 people working there, but they say that they are looking to grow and their goal is to bring Bitcoin everywhere in the world.

The founder and CEO of LocalBitcoins Jeremias Kangas started the company at the beginning of 2012. It has been quite a long term of time for them to achieve something in this area not considering they are a small venture.

Server of the exchange is located in Germany. However the company is based and works under the jurisdiction of Finland.

The last 30 days turnover reaches $8,466,884.65 what might be considered a relatively significant amount. What we can tell from the turnover is that this trading site is getting quite popular and is being trusted by a lot of bitcoin buyers/sellers.

LocalBitcoins.com has recently released an app for Android users. From the few comments on the Google Play app store, it seems to be a legit official app, however there have been just a couple hundred installs yet.

The Bitcoin price of this trading site is slightly higher than other exchanges. However, they offer to buy and sell bitcoins in a huge variety of currencies, sadly they do not allow to use any cryptocurrencies as a payment method.

There is a transfer fee that usually is between 0.0001-0.0004 BTC for outgoing transfers. Also, if you are an advertiser, there is as 1% fee from the purchase amount. Taken into consideration the fees are tolerable.

LocalBitcoins.com has a full API documentation available on their site for anybody to try and automate often needed tasks.

If you want to contact them, regretfully there is only an option of a contact and support form which assigns you a ticket. This is really not an acceptable way of communication if you want a fast response, which you could get by phone or live chat.

The main difference of this bitcoin exchange is the option to pay in cash with your wanted currency what might be an appealing option for somebody.

We liked:

- Fast and simple interface
- Possibility to trade in various currencies
- SSL protocol and other privacy features
- Decentralized wallet storage
- API documentation on site
- Active forum

We weren’t so sure about:

- A small company
- Mobile version
- Payment option in cash

We hated:

- No support live chat
- No phone number

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1 Comments
  • May 5, 2014

    Exchanged some bits for bux with local guy – when nice. But be very careful because you deal with completely stranger here! Sometimes you get far better price than via exchanges because you avoid fees and restrictions for withdrawal. If someone needs is in a need for cash quikcly you can leverage :)

    Reply