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Local Bitcoins

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LocalBitcoins is a bitcoin startup company located in Helsinki, Finland. Its service facilitates over-the-counter trading of local currency for bitcoins. At, people from different countries can exchange their local currency to bitcoins. The site allows users to post advertisements where they state exchange rate and payment methods for buying or selling bitcoins. Your reply to these advertisements and agree to meet the person to buy bitcoins with cash, or trade directly with online banking. Bitcoin enables online transaction in locations out of the reach of the traditional banking industry.

Features of LocalBitcoins;

  • Escrow services
  • Peer-to-peer trading
  • No ID verification
  • Feedback rating system
  • Wide range of payment methods
  • Free trades

Some common issues of LocalBitcoins;

  • Identity verification problem.
  • Digital currency withdrawal delayed.
  • Problems with a Bitcoin transaction.
  • My account is hacked
  • A problem to create an account.
  • My account is on a forced holiday.
  • I can’t log in to my account.
  • Unable to report fraud.
  • Unable to buy bitcoins.
  • Unable to sell bitcoins.
  • Unable to report fraud.
  • Problem with a disputed trade.
  • Problem with a disputed trade.
  • I have a problem with my advertisement.
  • I have received unjustified negative feedback.
  • Unable to report a bug.
  • Unable to retrieve the local bitcoins password.
  • Unable to send digital currency to another wallet.
  • Unable to receive digital currency from another wallet.

Pros and Cons of LocalBitcoins;


  • No verification required
  • Easy to use
  • The fee structure is competitive
  • Several layers of security
  • LocalBitcoins provide Escrow service
  • Lots of payment methods


  • Trading fees are high
  • Untrustworthy sellers
  • Customer support service is poor
  • Only Bitcoin transactions
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