local bitcoins

LocalBitcoins: Omfattande Recension 2024

LocalBitcoins.com was one of the oldest regulated peer-to-peer (P2P) marketplaces for buying and selling Bitcoins (BTC). It works like Blocket or Tradera - you open an account, get verified and look for BTC traders in your area. Alternatively, you can create an advert yourself - it costs nothing if you don't find a buyer.

UpdateLocalBitcoins will cease operations and close the doors to its digital currency market. The Swedish trading platform has served investors and traders for eight years but has now decided to end its services due to increasing regulation in the industry. The platform has faced several challenges and is one of the latest examples of how regulations have affected the growth of online currency trading in recent years. LocalBitcoins has tried to adapt to rules and laws but has fallen short in keeping up with the ever-changing regulations. That being said, LocalBitcoins has decided that it is best for their customers to shut down their platform and go out of business.

On their website, they say: " LocalBitcoins will cease its service

Originally, LocalBitcoins was founded to bring Bitcoin everywhere and promote global financial inclusion. We have been fulfilling this mission for over 10 years and we are proud of what we have achieved together with all of you, our loyal community.

We are therefore sad to share with you, that despite our efforts to overcome challenges during the ongoing very cold crypto winter, we have unfortunately concluded that LocalBitcoins can no longer provide its Bitcoin trading service."

What was LocalBitcoins?

LocalBitcoins was a Bitcoin P2P marketplace where users can buy and sell bitcoins using various payment methods, including bank transfer, cash deposit, Paypal, Western Union, etc. The service was available in almost every country in the world. LocalBitcoins has been around since 2012 and has built up a good reputation as a reliable and secure way to buy and sell bitcoins. buying and selling bitcoins.

The first thing you need to do is create an account on LocalBitcoins.com. Once you have created an account, you need to verify your identity by providing some personal details and uploading a photo ID. Once your identity has been verified, you can start looking for Bitcoin traders in your area.

How to Trade on LocalBitcoins

You can either browse the available adverts or create your own advert to sell Bitcoins. When you find an advert you are interested in, click on the "BUY" button to start trading. Please note that all exchanges are custodial, which means that Bitcoins are not released to the seller until the buyer has received them and confirmed that he/she is satisfied with the exchange.


LocalBitcoins has a built-in messaging system that allows buyers and sellers to communicate with each other during an exchange. We highly recommend using this messaging system to avoid misunderstandings during a trade. 
Once the trade is completed, remember to leave feedback for the seller! This helps other users know whether they can trust the trader or not.

Advantages and Disadvantages of LocalBitcoins

There are positive and negative aspects of using this service. Below we list both the good and the bad:

Advantages
  • One of the oldest crypto exchanges
  • High liquidity
  • Good grading system
  • Works in over 248 countries
  • Many different payment options
Disadvantages
  • Few cash alternatives
  • It was not anonymous (KYC required)
  • A lot of fraud in some payment methods (e.g. Revolut).
  • Many who have had their accounts frozen

Key features of LocalBitcoins

There are many reasons to choose a marketplace like LocalBitcoins over a crypto exchange. Moreover, the marketplace has long been the most popular P2P trading site. Thanks to the following reasons, they were still popular today:

  • It was a safe place: Although there is some fraud and there have been some leaks, it is considered a safe place to trade. 
  • One of the oldest crypto exchanges: their service has been active since 2012 and is currently used by millions of users worldwide. Despite numerous attempts to replicate the service, they were still the leading alternative.
  • Regulated service: LocalBitcoins is allowed to offer the service they do, thanks to their compliance with AML (Anti-Money Laundering) and KYC (Know Your Customer).
  • A wide range of payment options: from card payments to bank transfers. You can use Swedish banks as well as foreign banks.
  • Escrow service: To ensure that the agreed transactions go through, they offer their own escrow service. This means that the money is first held by LocalBitcoins itself, and the transfer needs to be authorised by the recipient before the money is released to the seller. In this way, the risk of fraud is minimised.

Conclusion

LocalBitcoins was a safe and easy way to buy and sell Bitcoins. It is available in almost every country in the world and has built a good reputation as a reliable platform. We hope this blog post has helped you understand how LocalBitcoins works and how you can use it to buy and sell Bitcoins.