I have read your mind, and I know you are looking for a LocalBitcoins (LBC) alterative.
Wondering, how do I know?
Well, LocalBitcoins started doing KYC of its customers, and since then, I too am trying to use other alternatives to LocalBitcoins. However, I must say LocalBitcoins is still the best, of course, if it works for you !!
But if you are someone for whom LocalBitcoins isn’t working or for some reason, you are looking for an alternative; I recommend you to look at these:
Best Alternatives To LocalBitcoins In 2020
|Localbitcoins Alternatives||Quick Links|
|Paxful [Recommended]||Try Now|
|Hodl Hodl||Try Now|
Paxful is another reliable alternative to LocalBitcoins, which the cryptocurrency users can use all around the world, and it is also my go-to service after LocalBitcoins.
Paxful is based out of the US and is serving the cryptosphere since 2015. For those of you who don’t know, Paxful is also a peer to peer Bitcoin exchange service just like LocalBitcoins (LBC) but is much larger than LBC.
Unlike LBC, Paxful supports many payment options for buyers and sellers of Bitcoin. As of now, Paxful has 300+ payment methods in which you can buy/sell Bitcoin from traders all around the world.
It also has in-built feedback and reputation management system like LocalBitcoins, which gives you an idea about the seller or buyer you are dealing with.
Lastly, Paxful too provides escrow service like LocalBitcoins, so you need not worry about getting cheated while using Paxful service.
LocalCoinSwap is a Hong-Kong based peer to peer cryptocurrency exchange service serving the cryptosphere since 2017.
It is a multi-currency P2P exchange that not only lets you buy/sell Bitcoin but 20+ cryptocurrencies with over 200 payment options.
This is a perfect LocalBitcoins alternative which is a P2P cryptocurrency marketplace that connects anyone, anywhere to buy and sell bitcoin and altcoins with optional KYC.
Optional KYC is another useful feature that LocalCoinSwap has because at LocalBitcoins the KYC is mandatory these days. So signing up on LocalCoinSwap is quite easy, you need your email ID to get started.
No withdrawal or deposit limits are there yet, which is their USP.
Just go-to LocalCoinSwap, select whether you want to buy/sell, select cryptocurrency & your fiat currency, select location and payment methods to see a list of sellers. Meet the sellers in-person or deal online as per the terms of the trade where LocalCoinSwap will act as an escrow.
Go for it!!
BitQuick is for someone who wants to deal in cash and avoid disclosing their identity.
BitQuick is based out of the US and facilitates cash dealing with Bitcoin. Meaning one can only buy/sell Bitcoin via BitQuick using cash now cheques or wire transfers are allowed.
To obscure your identity, you can use an alias name to register on BitQuick and then choose a deal that you like. Once you have selected the deal, the idea is to go to the nearest bank branch to deposit the money as per the trade conditions.
Also, this part, you can tell a friend or acquaintances to do in case you want to hide your identity. But make sure to take the deposit receipt despite whoever is depositing the money.
Show this receipt to the BitQuick and your coins will be released to your wallet and the best part is, no KYC is required at BitQuick.
#4. Hodl Hodl
Hodl Hodl is a peer to peer global Bitcoin marketplace which connects buyers and sellers of Bitcoin.
Hodl Hodl was established in 2018 by two experienced guys expert in fintech and software development. Since then, it has garnered a fair share of acceptance in the market.
The main USP of Hodl Hodl is that there is no KYC and you can connect with anyone anytime in the world to trade bitcoins as per the agreed terms.
It gets better:
There is no manual escrow service, and instead, they try to provide the escrow through multisig addresses allowing them to by-pass any KYC or regulatory barriers.
The exchange fees are also on the lower side. So you should try Hodl Hodl if you aren’t satisfied with LBC or are looking for a decent LocalBitcoin alternative.
Bisq is an open-source, peer-to-peer application that allows you to buy and sell cryptocurrencies in exchange for national currencies. No registration required.
Bisq is one of the oldest standing peer-to-peer and decentralized exchange for Bitcoin. Since its early days, Bisq has evolved and has always facilitated fiat to Bitcoin and Bitcoin to fiat transactions in a decentralized way.
There is no KYC requirement, and there is no CEO. Bisq works on a DAO model and intends to be free and open-source till the eternity of Bitcoin.
So if you are from a country where your currency isn’t buying Bitcoin, you can have a look at Bisq to see if it works for you and I am sure it will.
Alternative To LocalBitcoins
Seeking an additional option isn’t bad in the cryptocurrency realm, especially when it comes to services or exchanges that facilitate trades.
Such is the case of LocalBitcoins too, and you should have an alternative for it because LocalBitcoins has started doing KYC. There have also been cases where LocalBitcoins accounts have been compromised, and last year my account was.
Luckily, I didn’t have any bitcoins in it at that time, but such a thing can happen to you also. So, if you are someone who relies on LocalBitcoins service, now is the time to diversify in terms of exchange or service too 🙂
If you liked this article, do share it with your friend and family to help them know about LocalBitcoins alternatives !!