LocalBitcoins shuts down after ten years of operation
One of the most renowned and established Bitcoin exchanges, LocalBitcoins, announced its closing after ten years of servicing the cryptocurrency community. The closure was blamed by the peer-to-peer network to the continuing crypto winter. By linking buyers and sellers and keeping the cryptocurrency in escrow until both sides approved the transaction, LocalBitcoins, which was created in 2012, allowed Bitcoin trading for customers from 189 countries. This made guaranteed that crypto fans have a safe and reliable platform.
Different Options from LocalBitcoins
However effective and user-friendly LocalBitcoins was, there are other platforms that offer comparable services. Here are a few of the best substitutes:
Binance
Users may purchase or sell a variety of cryptocurrencies, including Bitcoin, Ethereum, Tether, and Binance Coin, on the P2P sector of Binance, the biggest cryptocurrency exchange in the world. Compared to LocalBitcoins, the network enables direct communication with sellers from more than 40 countries and provides a greater variety of payment options, albeit it is missing some of LocalBitcoins’ services, such PayPal.
Paxful
A Bitcoin wallet is one of the roughly 350 options to purchase and sell Bitcoin that Paxful provides for its members.
Huobi
Another huge cryptocurrency exchange with a Singaporean foundation, Huobi, provides a P2P solution that makes it usable even for new users. The site offers a wide variety of payment options, including those institutions that do not allow the purchase or sale of cryptocurrencies.
Bisq
Users may purchase and trade Bitcoin using Bisq, a private and open-source P2P network, without having to go through know your customer (KYC) processes. The security of buyers and sellers is ensured by the storage of deposits in multisig wallets.
OKX
The Seychelles-based P2P platform OKX allows users to purchase and trade a variety of digital assets, including Bitcoin, Tether, Ethereum, and USD Coin in their home currencies. Users may browse the platform’s huge array of currencies to get the best deals, and it offers a broad variety of payment options.