Review
LocalBitcoins is an established peer-to-peer marketplace, launched in 2012. Connect directly with others looking to buy or sell Bitcoin, through the website's classified ads. Buy or sell with peace of mind, as every transaction is protected through its escrow service. Once you've bought, you can store your Bitcoins securely in your LocalBitcoins wallet.
- Buying options
- Fiat currencies: USD and 149 others
- Payment methods: 34
- Pros
- No bank account is needed.
- Accepts over 30 payment methods, including PayPal.
- Free escrow account protects you from dishonest sellers.
- Free crypto wallet, with most Bitcoins stored securely offline.
- Cons
- You can only buy or sell Bitcoin.
- You cannot lend or invest your Bitcoins.
P2P Fees
Fees
Buy or sell cryptocurrency peer-to-peer and without commission on LocalBitcoins.
On LocalBitcoins, both buyers and sellers of cryptocurrency can create advertisements. It's free to create an ad and LocalBitcoins' 1% commission only applies when the transaction completes.
Importantly, you'll pay no commission when you reply to an ad. This means that you'll pay no fees on your purchase if you reply to a seller's ad. Likewise, you'll pay no fees on your sale if you reply to a buyer's ad.
| LocalBitcoins | Paxful | |
| Buyer fee | 0% if you reply to a seller's ad, and 1% if you create an ad. | 0% |
|---|---|---|
| Seller fee | 0% if you reply to a buyer's ad, and 1% if you create an ad. | Between 0.5% and 5%, depending on the payment method. |