LocalBitcoins isn’t the only peer-to-peer crypto trading marketplace. In fact, there’re many LocalBitcoins alternatives, some of which will give you better deals, more cryptocurrencies and/or more privacy.
Not all of these alternatives are free of fees and KYC steps, but you’ll no doubt find the alternative that you’re looking for here.
Okay then, let’s explore the best alternatives to LocalBitcoins!
(If you have any suggestions, please contact us and we’ll add them to the list!)
What is Paxful?
Paxful is the most popular alternative to LocalBitcoins. In fact, they’ve surpassed them in many areas.
They support every payment method imaginable; they are unrivalled by any other peer-to-peer trading site on the number of payment options they support.
What makes Paxful the best LocalBitcoins alternative?
- It’s super user friendly. Paxful have put considerable effort into making their site accessible. If there’s one thing that LocalBitcoins lacks, it’s aesthetics. Paxful rival this by making their site modern and simple to use.
- They have lots of traders on their site. There are plenty of people both buying and selling. This is really important because you don’t want to be waiting around looking to trade on a LocalBitcoins alternative if you could just use LocalBitcoins. Paxful pulls huge amounts of international traffic every day and should have services that meet the needs of most.
- You can use pretty much every payment method imaginable. They support everything from PayPal, to cryptocurrencies, to gift-cards that’re detailed down to the store they’re used on. The variety is perfect, and opens up a lot of potential for profiting in lesser liquid niches.
- Their support team is always on hand help. Like LocalBitcoins, Paxful has a strong support team on hand to support you. It’s important to have this on sites like this because they do attract malicious actors every once in a while. But, you can rest assured that the support team are on hand to help.
- They ensure everyone undergoes proper KYC verification. Paxful recently made it mandatory for all traders to undergo full KYC–submission of ID, proof of address, and so on. It can be annoying at first, but it makes the whole trading experience far more secure.
2. Binance P2P
What is Binance P2P?
Binance is the largest cryptocurrency exchange in the world, and they also offer P2P crypto trading–like you’ll find on LocalBitcoins.
They offer a few different currencies that you can trade: BTC, ETH, LTC, USDT, etc. And, it’s linked directly to your Binance account, so you get the wealth of the entire Binance crypto ecosystem in addition to their brilliant P2P markets.
What does the Binance P2P Marketplace look like?
What makes Binance a good alternative to LocalBitcoins?
- They don’t charge any fees. Yes, you read that correctly; Binance P2P do not charge transcation fees. Most P2P trading platforms take a cut of the trade. This is easily the most standout feature, especially for larger volume traders.
- You can trust Binance. If there’s a site with the best security for crypto trading, it’s Binance. They’re literally the largest crypto exchange and have funds secured and insured. They’ve never had a major cybersecurity breach, and have multiple layers of security through their multi-factor authentication system.
- They enforce stringent KYC/AML. You don’t need to worry about shady traders, Binance take full KYC/AML measures, so you can be sure that their identification has been provided, reviewed and processed. Important!
- Not as much competition compared with LocalBitcoins. This is great for people posting trades, there are less trade posters reducing price spreads.
- An incredibly high amount of traffic is avaliable to you. Binance certainly has higher volumes of traffic than LocalBitcoins, but, the P2P markets specifically aren’t as big. Though, with that being said, they’re definitely growing.
3. Kucoin P2P
What is Kucoin P2P?
KuCoin is a large cryptocurrency exchange, similar to the likes of Binance (previously mentioned). They’ve recently branched into peer-to-peer crypto trading markets too.
What does the KuCoin P2P marketplace look like?
What makes Kucoin a good alternative to LocalBitcoins?
- You can trust them. As with Binance, KuCoin is a large cryptocurrency exchange. The larger the exchange, the more security investments have been made. While, yes, in the past they have suffer a breach, they proved their weight in gold through insurance, repaying all users and maintaining their steadfast image as a top cryptocurrency exchange.
- The markets are relatively untapped. KuCoin has good traffic, but there very few sellers on the peer-to-peer markets. If you’re looking to profit from flipping bitcoin, then will be a great opportunity for you.
What is LocalCoinswap?
A growing LocalBitcoins alternative. That supports more than just Bitcoin, and, they’ve also got their own cryptocurrency, LCS!
What does the LocalCoinSwap P2P marketplace look like?
How is LocalCoinSwap a good alternative to LocalBitcoins?
- Targeted towards P2P crypto traders. Like LocalBitcoins and Paxful, they’re solely focused on P2P trading. Many of the other alternatives, i.e. Binance and KuCoin, offer P2P on the side. LCS is targeted.
- Multiple cryptocurrencies. LocalCoinSwap supports most of the popular cryptocurrencies, for example, Bitcoin, Ethereum, Polkadot, Kusama, Dash and more.
- User-friendly. The site is very aesthetic, and simple to use. Great for attracting traffic, and also offers up great potential for future growth.
- They have their own cryptocurrency. Yes, they have their own cryptocurrency. And, it’s relatively unheard of. It could potentially be a good investment, though, I am not a financial advisor.
What is Bisq?
A decentralized peer-to-peer network, secured and anonymized through Tor. It operates the same services as LocalBitcoins does–peer-to-peer crypto trading.
What does Bisq’s trading software look like?
What makes Bisq a good alternative to LocalBitcoins?
- Software-based. Bisq is a software-based application that operates similar to the other LocalBitcoins alternatives–they faciliated P2P crypto markets. The one difference being: Bisq requires downloading. But, with that come many favourable benefits.
- Private and doesn’t require ID. Not verification is required, and, as such, no wait time is required for approvals. By running Bisq, you’re also running a Tor node, so your data is anonymized.
- Easy to use. Despite its first impressions, it’s actually surprisingly easy to use. But the open-sourced developer community have made it such that you can be trading in under 10 minutes from starting.
- Innovative. All the other LocalBitcoins alternatives run on similar principles–they’re all centralised websites. Bisq, however, really stands out from the crowd, favouring privacy, security and decentralization above all.
6. Hodl Hodl
What is Hodl Hodl?
Hodl Hodl has given made a fresh take on peer-to-peer trading. Instead of holding users’ funds onsite, they are held in a "multi-sig escrow".
By using an innovative approach, they’ve minimised the possibility of theft, and also reduced trading times. But, the real stand-out point: they are one of the few LocalBitcoins alternatives that don’t require you to submit ID, verfication documents, and for that reason, Hodl Hodl are the best LocalBitcoins alternative that doesn’t require KYC!
What does the Hodl Hodl P2P marketplace look like?
- Doesn’t require KYC. Perfect if you don’t have ID. And also imbues the privacy-focussed ideology that true crypto enthusiasts adore.
- Doesn’t lock funds onsite. You’re completely in control of your funds at all times. Your keys, your funds. The platform can’t freeze your Bitcoin unlike on other sites. But beware, there will likely be others looking to take advantage of this, and there could be potential exit scams.
- Similar to LocalBitcoins’ layout. If you’re familiar with LocalBitcoins, then you’ll have no trouble picking up Hodl Hodl. It functions just like its rival does. Buyers buy from the sellers, sellers have they funds lockded in escrow, buyers send funds, sellers confirm reciept and release funds.