LocalBitcoins Alternatives

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There are many LocalBitcoins alternative in the market to try out these days.

This platform started doing KYC of its customers, and since then, many individuals are trying to use other alternatives to LocalBitcoins.

However, I must say LocalBitcoins is still the best, of course.

However, if you are someone for whom LBC isn’t working or for some reason, you are looking for an alternative.

Let’s check them out.

Shall we…?

Best LocalBitcoins Alternatives

These P2P (i.e. Peer-to-Peer) platforms are the best alternative to LocalBitcoins, but the most secured among them are Binance P2P and LocalCryptos.

1. LocalCryptos (Recommended)

Localcryptos

LocalCryptos launched in 2015, was known as LocalEthereum. It was initially built a P2P platform for buying Ethereum (ETH) only.

The platform later rebranded – adding Bitcoin (BTC) and Litecoin (LTC), as well as some other established crypto-coins.

LC is a non-custodial peer-to-peer exchange, which means you don’t have to deposit your crypto directly on the platform.

Also, you are not required to verify your identity to use this P2P exchange platform..

Compared to Paxful, LocalCryptos has fewer payment methods, even though it continues to expand aggressively.

Sellers pay a 0.25% trading fee while buyers pay a 0.75% trading fee. 

Pros

  • 60+ payment methods
  • Trade BTC, ETH, and LTC
  • No KYC verification
  • Lower exchange fee
  • High security than other P2Ps

Cons

  • Few supported cryptocurrencies
  • Vendors can be scammed.

Visit LocalCryptos


2. Binance (Preferred)

Binance Exchange

Binance P2P is relatively a new section on the largest centralized cryptocurrency exchange in the world.

If you are still new to this cryptocurrency exchange, you can read my detailed review on the Binance cryptocurrency platform.

The platform recently launched a peer-to-peer section called, Binance P2P to enable easier access to the Binance ecosystem.

It’s live in Nigeria, Kenya, and South Africa with target to support more countries, with support for over 60+ payment methods, including bank transfer, Mpesa, and Chipper Cash etc.

It also allows you to trade Bitcoin (BTC), Binance coin (BNB), Binance USD (BUSD), Ethereum (ETH), Tether USD (USDT), EOS (EOS).

Furthermore, Binance P2P exchange requires identity verification for every user.

Pros

  • 60+ payment methods
  • Supports BTC, BNB, BUSD, ETH, USDT, and EOS
  • Zero transaction fees
  • Highly secured.

Cons

  • KYC verification is required
  • Not global.

If you use the link button below to sign up on Binance, you will get a up-to 20% discount on all trades on the exchange platform.

Visit Binance P2P


3. Paxful

Paxful Exchange

Paxful was established in 2015 in the USA, and has since become a go-to site to buy and sell Bitcoin cryptocurrency.

The marketplace allows you to trade Bitcoin with over 300 payment methods, including bank transfer, mobile money, Chipper Cash, PayPal, Mpesa, and Western Union.

The P2P exchange has more offers compared to the other platforms on this list, because it has more trading volume.

The larger volume gives you access to more offers, payment options and competitive prices.

Pros

  • 300+ payment methods
  • Large volume of Bitcoins.

Cons

  • Supports only Bitcoin (BTC)
  • KYC verification is required
  • High transaction fee
  • Users can be scammed.

4. Remitano

Remitano Logo

Remitano is said to be a refined version of LocalBitcoins. It supports 30+ countries with a key focus on the South African and Nigerian markets.

The exchange built-in 2016 by Babylon Solutions is based in Seychelles. For more on this platform, check out my Remitano review.

User can sell and buy over 15 cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), tether (USDT), Litecoin (LTC), and Binance coin (BNB).

Remitano charges a 1% transfer fee with no additional charge on the cryptocurrency asset’s price. And, the platform has strict KYC and security policies to prevent escrow fraud.

Pros

  • Multiple payment methods
  • Supports BTC, BNB, BCH ETH, USDT etc

Cons

  • KYC verification is required
  • Supports few countries
  • 1% transaction fee.

5. LocalCoinSwap

Localcoinswap

LocalCoinSwap is a Hong-Kong based Peer-to-Peer crypto exchange serving the cryptosphere since 2017.

It is a multi-currency P2P exchange that allows you to buy or sell Bitcoin including other 20+ crypto-coins with over 200 payment options.

No withdrawal or deposit limits are there yet, which is their USP.

It’s a perfect LocalBitcoins alternative, which is a P2P marketplace that connects anyone, anywhere to buy cryptocurrencies with optional KYC.

Note: Optional KYC is another useful feature that LocalCoinSwap has because at LocalBitcoins the KYC is mandatory these days – So signing up is quite easy, you need only email ID to get started.

When you go-to LCS, select what you want to buy or sell, select cryptocurrency and fiat currency, then select location with payment methods to see list of sellers.

Meet the sellers in-person, or deal online as per the terms of the trade, where LocalCoinSwap will act as an escrow.

Pros

  • Multi-chain P2P marketplace
  • Optional KYC verification
  • Implements Escrow scripts
  • Two-factor authentication available
  • Supports 300+ payment methods
  • Supports 20+ cryptocurrencies
  • Available for 160+ fiat currencies
  • 95% of deposits are in cold storages
  • 24/7 customer service

Cons

  • Security depends on the chosen trader
  • Not beginner friendly
  • Too many options
  • High transaction fees rates

Alternative to LocalBitcoins

Seeking an additional option to LocalBitcoins isn’t bad, especially when it comes to choosing a reliable cryptocurrency exchanges.

Don’t forget that while diversifying with some other options, do not forget to transfer your investment off from exchange where you bought them.

This is one of the major strategies to secure your cryptocurrency investment safely from cyber-theft and hacks.

Personally, I recommend a hardware wallet (like; Ledger Nano X/S), because they’re the best in keeping your funds safe.

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KingsHOK
I founded The Crypto Staunch, so you'll learn how to become a cryptopreneur and start investing in different cryptocurrency assets for passive income. Let's connect when you subscribe to my newsletter (once a while, and free with no spam).

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