LocalBitcoins is a marketplace where members can buy or sell Bitcoins directly with each other. Members post their exchange rates and forms of payment to buy or sell bitcoins on their platform.
In 2019 LocalBitcoins had 913,000 active traders and got 1.46 million new registered customers. All together, LocalBitcoins has over 8 million customers globally from over 190 countries. It is one of the popular marketplaces for trading Bitcoin.
LocalBitcoins offers direct trading, communication, dispute resolution and escrow services between buyers and sellers. The escrow services take the funds from the seller out of their wallet and release them once both sides accept the trade.
Buying and selling on LocalBitcoins is free. It is free to transfer to the wallets of other members on the site. The fee to transfer to other Bitcoin wallets varies. It depends on the current usage of the Bitcoin blockchain. There is also a fee of 1% for members that create advertisements.
The pricing structure is reasonable for those who are using their network and wallets. It becomes uncertain when transferring to other Bitcoin wallets depending on the blockchain and network congestion. The 1% fee for member advertisements is very reasonable. Most of the prices are low.
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