LocalBitcoins have shutdown their cryptocurrency operations since 2023.
However, there are still many LocalBitcoins alternative in the market to try out these days for your Bitcoin business of buying and selling.
This platform started doing KYC of its customers, and since then, many individuals are trying to use other alternatives to LocalBitcoins.
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…
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. Binance (Recommended)
Binance P2P is relatively a new section on the largest centralized crypto exchange in the world.
If you’re still new to this cryptocurrency exchange, you can read my detailed review on the Binance platform.
The platform has a peer-to-peer marketplace called, Binance P2P to enable easier access to the Binance ecosystem.
It’s available for many countries, with the support for over 60+ payment methods, including bank transfer, Mpesa, and Chipper Cash etc.
It also allows you to buy or sell Bitcoin (BTC), Binance coin (BNB), Binance USD (BUSD), Ethereum (ETH) and Tether USD (USDT).
Furthermore, Binance exchange requires identity verification for every user, which you can read this article on how to pass KYC on the platform.
Highlights:
- 60+ payment methods
- Supports BTC, BNB, BUSD, ETH and USDT
- Zero transaction fees
- Highly secured.
If you use my link to sign-up on the platform, you will get a up-to 20% discount on all your transaction fees on the exchange.
2. Paxful
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.
Highlights:
- 300+ payment methods
- Large volume of Bitcoins.
3. Remitano
Remitano is a kind of refined version of LocalBitcoins,but supports 30+ countries with a key focus on the South African and Nigerian markets.
The exchange was built-in 2016 by Babylon Solutions based in Seychelles, and to read more about 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 crypto asset’s price.
In addition, the peer-to-peer crypto platform has strict KYC and security policies to prevent escrow fraud.
Highlights:
- Multiple payment methods
- Supports BTC, BNB, BCH ETH, USDT etc
4. LocalCoinSwap
LocalCoinSwap is a Hong-Kong based Peer-to-Peer cryptocurrency exchange serving the market since 2017.
It’s a multi-currency P2P marketplace 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.
Highlights:
- 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
Concluding thougths
Seeking an alternative to LocalBitcoins isn’t bad, especially when it comes to choosing a reliable 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.
