Local Bitcoins Review: Pros and Cons

 

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Description

Pros:

  • One of the most private ways to purchase bitcoins
  • No buying or selling limits
  • Easy to Use, Human-to-human direct transaction.
  • No political intervention. No third party is involved.
  • Buys made with cash deposit generally deliver bitcoins within 1 hour
  • Available in nearly every country(248 countries and about 14000 cities)
  • No ID verification required
  • Support is usually quick to respond to all issues
  • Buy, Sell bitcoins with your local currency (cash)
  • Peer-to-Peer (P2P) Bitcoin exchange platform
  • Buy bitcoins with many payment methods
  • In-person cash trades are fast and easy to organize
  • One of the oldest Bitcoin exchanges since 2012
  • Company based in Helsinki, Finland.

 

Cons:

  • Not suitable for large buyers
  • Trading Fees 1%
  • Some payment methods such as PayPal, may have reversible payment features; which may prove to be risky.
  • Fees can be slightly high when buying with cash, since many people are willing to pay extra for the privacy LocalBitcoins offers
  • Some sellers will require ID verification for larger amounts.
  • Reputation of exchange is good, but need to check reputation of each user on the exchange. Check for scammers. Be WISE and alert!
  • The speed of transaction would depend on payment method.

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Vendor Information

  • Store Name: 12geniusLD
  • Vendor: 12geniusLD
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