As a great non-custodial peer-to-peer (P2P) exchange, Local Cryptos facilitates those that would like to buy bitcoin (BTC), Ethereum (ETH), bitcoin cash (BCH), DASH, and Litecoin (LTC) to name a few. This exchange trades in over 130 different countries while using 40 payment methods. Local Cryptos is immune from threats as it does not hold usersaEUR(TM) private keys. They lets users trade with each other using non-custodial wallets and a non-custodial escrow system. The user interface is simple that encourages beginners to make an exchange. It is one of the best P2P exchanges as its services are convenient during the recent privacy conflicts period. Local Cryptos fully automated escrow system keeps the exchange secure as the exchange owners and developers can not access your funds. Such securities make your funds immune from hackers and thefts in centralized exchanges. Unfortunately, Local Crypto is winding down so you cannot trade here anymore.
A Great Non-Custodial Peer-to-Peer Crypto Marketplace, Supporting 40 Deposit Methods.CryptoLists.com
Background & Overview
The company operates under LocalEthereum Pty Ltd located in Australia. The founder and current CEO of the exchange is Michael Foster. If you are looking for a non-custodial peer-to-peer marketplace, Local Cryptos is the ideal company for trading activities. The exchange lets you sell and buy BTC, ETH, BCH, DASH, and LTC cryptocurrencies with other traders worldwide. The exchange enables private P2P cryptocurrency trading at no expense to your security. The services they offer include: non-custodial exchange, non-custodial escrow service, peer-to-peer cash trades, and end-to-end encrypted messaging and they have low fees.
Additionally, there is a community where users can vote for new cryptocurrencies, suggest new features, and participate in other initiatives. The crypto exchange cannot guarantee that there are no scammers and recommends one to deal with reputable users only. Local Cryptos relies on its non-custodial wallets which are secure and encrypted in a useraEUR(TM)s web browser. The exchange generates a new wallet address for each transaction to secure transactions. It has no trading limits as compared to other exchanges. Local crypto provides impressive services that attract more traders to the exchange.
The global P2P marketplace has over 100,000 users who buy and sell cryptocurrencies. These buyers and sellers post advertisements on Local Cryptos where they offer to trade crypto using an extensive range of payment methods. When the users respond to an offer, there is a direct peer-to-peer exchange between the buyer and the seller. The exchange is direct and fast as there are no middlemen and the process takes about ten minutes. Crypto Lists recommends the exchange as it is popular and secure among traders. Visit Local Cryptos now!
Advantages at Local Cryptos+Local Cryptos offers a non-custodial escrow system to its users.
+The exchange encourages pro-privacy hence limited restrictions on KYC.
+Local Cryptos supports cash trading and payment option for its users.
+The exchange's user interface is user-friendly and easy to navigate.
+There are several payment methods available on the exchange.
Disadvantages-Users must purchase using fiat currency and cannot purchase crypto using other cryptocurrencies.
-Local Cryptos is only compatible with a few cryptocurrencies limiting its usage.
-The P2P exchange does not support credit and debit purchases for crypto.
-There is minimal information concerning individual sellers on the exchange.
-The Local Cryptos exchange is yet to integrate a mobile application.
KYC & Registration
Local Cryptos is a non-custodial peer-to-peer exchange, and those are usually not regulated. For that reason, you can cash out without any KYC required, which is one of the reasons that many love to use Local Cryptos.
The process is easy when registering to get a normal account, as you sign up with an email address with Local Cryptos. Create the account using a username and password and the web browser will generate a wallet offline and encrypt it using a stronger version of your password. Alternatively, you can use an external wallet account where you sign up using your compatible Ethereum wallet. When signing up without an existing wallet, it is important to back it up so you can access your funds in case the services go offline for some reason or you forget your password. Anyway, you can both sign-up and take out money without any invasive verification method, at least while being below any major limits such as 25 000 USD or AUD.
There isn't the ability to sign up for a corporate account at the moment.
Leverage▪ Rated at 5/10
There is no leverage offered.
Costs▪ Rated at 9/10
There are three types of fees when trading on the Local Cryptos P2P exchange. These include transaction fees, escrow fees, and fiat payment processing fees. Local Cryptos charge a transaction fee depending on the cryptocurrency involved and the network congestion.
Cryptocurrencies with a high transaction throughput such as Litecoin and Dash have low fees compared to Ethereum and Bitcoin. High network activity results in higher transaction fees and vice versa.
The Escrow fees charged by Local Cryptos include a 0.25% fee on the one listing the offer and a 0.75% charge to respondents of the offer in each complete escrow. There are no additional fees such as withdrawal fees.
All fiat payments on peer-to-peer are outside the exchange. The service providers determine the fiat money processing fees.
Deposit Methods▪ Rated at 9/10
Below you can see a list of the deposit methods available on Local Cryptos. Some of them may not be available in United States as it depends on regional regulation, but normally the most common payment methods are available across numerous countries.
There is a wide range of deposit methods, including but not limited to: Bank transfer, SEPA, Revolut, Cash (cardless cash), Cash in person, cash deposit, AdvCash, Airtel, Alipay, EcoCash, IMPS, Interac, M Pesa, Moneygram, Payeer, PayNow, Paypal, PayTM,
Pingit, QIWI, Skrill, Swish, Transferwise, UPI, Venmo, Webmoney, WeChat Pay, Western Union and Yandex Money. Read more about the deposit methods at Local Cryptos here.
Platforms▪ Rated at 9/10
The following platforms are supported by Local Cryptos:
The user interface is simple to use. Anyone can use it by following the four easy steps:
1. Create an account with Local Cryptos.
2. Search for buyers and sellers that match your criteria on the exchange.
3. Open a trade with your suitable match.
4. Complete the trade.
Its user-friendly interface is ideal for beginners making sure you can trade no matter the level of your expertise. The interface is easy to navigate and one can understand the simple instructions with the click of a few buttons.
Automated Trading and Copy Trading
There is no autotrade or copytrading functionality on LocalCryptos at present.
Languages supportedThe following languages are supported on Local Cryptos:
Arabic, Chinese, English, French, Hindi, Japanese, Korean, Polish, Portuguese, Russian and Urdu and Vietnamese
Broker Support▪ Rated at 2/10
The support is quite slow as it may take longer than 24 hours to get a response. The exchange gives a place where you put in your name and contact details together with your complaint concern to get help from the support team. The support team does its best to provide to solve every dispute promptly. There are reviews that the support is slow and it can take a long time to assist users on the exchange. It is better to elaborate on the problem to the final detail to ensure you get extensive assistance.
Customer support works 24/7 and can be reached in various ways such as through the contact form from the website, the email address: [email protected], and social media channels on Twitter and Telegram.
The website also provides a categorical list of Frequently Asked Questions that provides solutions to basic queries regarding the exchange and its use.
Other Names for Local Cryptos
Local Cryptos is or has also been known under the following names: LocalEthereum Pty Ltd
Where can I register for Local Cryptos?
The best way is to open an account here and if you have any further questions you can get in touch with their support directly.
In which year was Local Cryptos founded?
Michael Foster, the current CEO of the exchange, founded the Local Cryptos in 2017 in Richmond, Australia.
How to utilise the Local Cryptos P2P exchange?
Create an account on Local Cryptos by signing up with your email address for free
Generate a secure wallet such as MetaMask and Ledger or sign up with Web3
Evaluate buyers and sellers advertising in the marketplace by filtering by price, currency, payment method, and location
Open a trade with an advert that suits you, choose the amount you want to trade, and lock in the exchange rate
Seller keeps the crypto in an escrow account in trust as they discuss payment details with a buyer using encrypted messages
The buyer makes payment outside the exchange and the seller confirms the payment to release crypto from escrow to the buyer
Which languages are supported by LocalCryptos?
They have a wide range of language options at LocalCryptos. Here is the full list: English, Spanish (Espanol), Traditional Chinese, French (Francais), Portuguese, Russian, Simplified Chinese, Japanese, Arabic, Polish, Urdu and Malay.
Is this a reliable site for crypto users?
It is reliable as it facilitates non-custodial transfers. However, one needs to use reputable users to avoid potential scammers.
Is the exchange secure?
It is secure as it has the following features: integrated end-to-end message encryption, financial forward secrecy, the system of signatures, messaging forward secrecy, and it prohibits third-party trackers.
What languages are the crypto exchange site available in?
It is available in Spanish, English, Chinese, Russian, Ukrainian, Hindi, French, Urdu, Arabic, Japanese, Portuguese, and Malay.
Find the full list of instruments available to trade at Local Cryptos here. You will find the major cryptocurrencies here and can use a wide range of deposit options to get stated.▪ Rated at 9/10
Crypto CurrenciesBTC/USD, ETH/USD, LTC/USD, BCH/USD, DASH/USD, BTC/ETH, BTC/DASH, BTC/LTC, BTC/BCH, BCH/ETH, ETH/LTC, DASH/LTC, LTC/BCH
Screenshots from Local Cryptos
Related blockchain? Learn more about Ethereum NetworkEthereum Network is the blockchain that Local Cryptos relates to, so it's worth reading more about it below.
Ethereum offers a blockchain that’s available to everyone. All you need is a wallet to participate. Ethereum offers open access to data-friendly services and digital money, no matter your location or background. More so, it’s a community-based tech behind thousands of applications that you can use today and the ETH cryptocurrency...
›› Read our full Ethereum Network review here
Ethereum Blockchain - The Internet of Assets.
Read the Local Cryptos Terms and Conditions here.
Local Cryptos Review Published: Saturday, 13 Aug 2022 8:58 pm
Last Updated: Wednesday, 10 May 2023 1:46 pm