LocalBitcoins is the most popular P2P cryptocurrency exchange. They initially started out as the best platform for buying and selling Bitcoin, but they’ve since stretched into other options.
While LocalBitcoins is the largest Bitcoin trading site of it’s kind to date, there are plenty of alternatives that are well established. There are also many options that are newer, fresher, and have some great potential based on the indirect benefits of being more modern.
They host traders all across the globe; 3 million people and counting are currently registered.
They’ve really grown quickly. I remember joining Paxful nearing their starting, way back in 2015. At the time they didn’t have the most mature site, but that’s sure changed now. And its really changed for the better of not only their company, but for the many millions of buyers and sellers on their site.
One of the main things that’s putting Paxful forward as the strongest LocalBitcoins alternative is there user-interface. It’s really revolutionised the face of peer to peer Bitcoin trading.
A good UX is incredibly important. Especially when garnering trust from non-technical Bitcoin users. The mass market, and people looking for a simple, frictionless way to start buying and selling Bitcoin.
They offer over 300+ payment methods. Bank Transfers, Cash Deposits, Gift Cards, Cryptocurrencies. This is a shed-load more than is available on LocalBitcoins, and pretty much every other alternative marketplace.
Something that Paxful suffers with, however, is traffic. They’re not as big as LocalBitcoins. But that, in my mind, is only for now. I really see them taking the top spot from LocalBitcoins if LocalBitcoins doesn’t fix up and better position themselves in a market that needs a user-friendly, modernistic interface in order to attract people that’re still hesitant to transact.
Bisq is a decentralised version of LocalBitcoins. An alternative that, at its core, is embracing the ethos of Bitcoin and what it’s trying to usher in. Freedom of transaction for the masses.
Bisq (decentralised P2P exchange)
The slight downside to Bisq is that you’ll have to bother yourself to download and install it. Where most LocalBitcoins alternatives are readily accessible via the web-browser. Though, this really is a minor issue that should deter you from giving it a go.
It allows the buying and selling Bitcoin in exchange for all major currencies and cryptocurrencies.
The volume of transactions on the application is fairly low at the moment, but it is growing. You can see Bisqs volume on their website, and when compared with the likes of LocalBitcoins and Paxful(previously mentioned), it’s only a fraction of what it’s competitors are pulling.
If, however, you’re looking for a decentralised alternative to LocalBitcoins, this is it.
LocalCoinSwap is a global online crypto marketplace.
Very similar to the likes of LocalBitcoins.
Much more userfriendly that LocalBitcoins. And generally looks nicer.
Has a mobile app. So you can exchange Bitcoin on the fly.
Allows P2P transactions with over 250+ payment methods.