Detailed review of the cryptocurrency exchange LocalBitcoins: customer feedback on the service
**Detailed review of the LocalBitcoins cryptocurrency exchange: customer reviews about the service**
The cryptocurrency exchange “LocalBitcoins” started its operations in 2012 and currently provides its services in all countries of the world. The company allows customers to purchase bitcoins for national currencies and return cryptocurrency back to fiat. The official website of the service is located at localbitcoins.net and is available in 7 languages, including Russian and English.
Review of the LocalBitcoins cryptocurrency exchange
The company’s headquarters is located in Finland at: Oy Porkkalankatu 20 00180, Helsinki, Finland. The founder of “LocalBitcoins” is Nikolaus Kangas. The exchange is used by over 4 million users worldwide, and the company operates within the legislation of Finland under the supervision of FSAF (Financial Supervisory Authority of Finland).
The “LocalBitcoins” service allows those who are prohibited from using cryptocurrency in their country to use it, ensuring complete transaction anonymity for each user.
Review of registration on the localbitcoins.net website
To register on the platform, you need to go to the main page and click “Sign Up.” After providing the necessary information and agreeing to the user agreement, you can complete the registration by following the link in the email received at the specified email address. Verification on the site is present but not mandatory.
The company may request identity documents when creating an advertising announcement, in disputed situations, during fraud investigations, and for large transactions.
Review of the operation principle of the “LocalBitcoins” cryptocurrency exchange
On the “LocalBitcoins” platform, all transactions are conducted directly between users, and the exchange itself acts as an intermediary to ensure the security of financial operations. The rating system provides protection for traders, and in case of deception, arbitration is provided to resolve disputes.
The platform’s operation principle is based on placing trading orders for buying/selling bitcoins, specifying price, restrictions, and payment methods.
Detailed review of conducting a transaction on the localbitcoins.net website
- Find a suitable trader and click “Buy”.
- Select the operation and verify the information.
- Specify the amount of bitcoins and create a request.
- Send the money and click “I have paid”.
The site charges a commission only from the seller (1% of the coin amount). “LocalBitcoins” earned over 26 million US dollars in 2019.
Review of deposit and withdrawal of funds from the localbitcoins.net website
LocalBitcoins offers over 60 commission-free deposit/withdrawal methods, including bank transfers, electronic payment systems, ATMs, plastic cards, TELE2, and cryptocurrencies.
Review of customer security measures on the cryptocurrency exchange
To protect accounts, two-factor authentication and the Login Guard technology are provided, notifying about account logins via email. Clients can view the history of logins to the account.
Review of customer reviews about the service
- Wide range of deposit/withdrawal methods.
- High level of account security.
- No commission for deposit, withdrawal, and asset purchase.
- Ability to trade without verification.
Conclusion about the localbitcoins.net website
The cryptocurrency exchange “LocalBitcoins” has been in existence since 2012 and is trusted by millions of users. The company ensures a high level of security and offers a wide range of deposit and withdrawal methods. Customer reviews are mostly positive, confirming the reliability and transparency of the service.