LocalCryptos P2P Exchange Review

LocalCryptos is a non-custodial trade that allows customers to buy and sell cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC) with other buyers all over the world. It is a contemporary system with a thriving community that encourages personal peer-to-peer (P2P) trading of crypto without jeopardizing your access control. Furthermore, this is one of the oldest P2P platforms and prides itself in its many years of existence.

Critical features of LocalCryptos

LocalCryptos does not have direct connections to your LocalCryptos wallet and does not hold your coins.

Escrow service without custody. LocalCryptos is not the first platform to use the non-custodial escrow platform, but it also does not hold your coins.

P2P cash transactions. A user Freely trades with over 100,000 buyers from around the world; using a wide range of exchanges, including highly sought-after personal peer-to-peer cash trades.

LocalCryptos prioritizes data security. As an outcome, end-to-end encryption is used for all of your system chats and messages. Besides, the platform can decrypt your communication to avoid eavesdropping.

LocalCryptos offer Low fees. LocalCryptos offers a 0.25 percent maker charge (for the user who posted the deal) and a 0.75 percent taker cost (for the user who accepted the offer).

For new coins, the community votes. LocalCryptos is a thriving network where members can vote for new cryptocurrencies, propose additional functions, and get involved in other projects. The site currently includes Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC) trading.

LocalCryptos Overview

LocalCryptos started out as LocalEthereum in 2017 and was rebranded to LocalCryptos in November 2019. At first, it was a go-to place for buying and selling Ethereum, but later it added support for BTC and LTC trading, as well as community voting for other coins.

Meanwhile, LocalEthereum Pty Ltd operates the company with its headquarters in Richmond, Australia. Michael Foster is the company's founder and the present CEO. Currently, Localcrypto is available in over 130 countries globally including the United States.

User-experience

The LocalCryptos network is really straightforward to use. Anyone can begin trading by taking these four easy steps:

Make a user account. Signup on LocalCryptos with your email in 30 seconds by clicking here or on the signup icon - no personal information is necessary. You can also use one of your Ethereum wallets to log in straight to the network.

Next, find buyers and vendors who meet your requirements. Anyone can publish a listing for selling or purchasing; utilize the site filters to sort deals by location, payment method, currency, and other criteria.

Trade away. Open a transaction with the user once you've found a good offer from a reliable account. Select the quantity you wish to buy or sell and lock in the price.

Finally, once the user finishes the transaction The buyer pays the seller via a cryptocurrency outside the LocalCryptos network; after the seller locks an approved quantity of cryptocurrency in an escrow account. The cryptocurrency is held in the LocalCryptos escrow account until both parties acknowledge that the exchange has taken place and released all payments. The platform delivers the cryptocurrency from the escrow account and sends it immediately to the buyer's wallet once the seller certifies that he or she has received payment.

Disclaimer: The views and opinions expressed in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.

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Richard Adrian

Richard is a versatile fintech analyst with a deep understanding of blockchain domains. As much as technology fascinates him, he finds the intersection of both technology and finance mind-blowing. The firm belief that fintech will drive the future has brought him to the crossroads of Fintech discoveries and transmission of immutable data to a wider audience.