Eduard Watson

5 months ago

The crypto space has been hit with some not so great news. On Reddit, people are desperate, and they’re reporting that LocalBitcoins has removed the cash trades.

LocalBitcoins is a BTC startup company that’s based in Helsinki, Finland. Its services facilitate OTC trading of the local currency for Bitcoin.

According to official notes, users post ads on the website, and there they state the exchange rates and payment methods for buying or selling BTC.

LocalBitcoins, no longer private – shutting down local cash trades

It seems that LocalBitcoins’ business has been ruined by regulators, and it’s no longer private.

Some might even say that they sold their soul, and now they are sharing all the info that people provide including the chat logs and bank information, which is definitely a disaster.

More than that, as we reported above, according to Redditors, they have also removed local cash trades.

People are desperate, and they’re looking for alternatives, so here are the best three alternatives for the LocalBitcoins business.

Dether.io

The Dether.io platform offers users the change to buy and sell digital assets no matter where they are located in the world. The peer-to-peer ecosystem is targeting crypto buyers, seller, and physical shops as well.

They have built a decentralized app that enables the trading of ETH and crypto for cash. It seems that Dether breaks the barriers of the global blockchain adoption by creating a fully decentralized bridge between fiat and digital assets.

A Redditor noted, “I just checkout out Dether. It's going open source, reportedly. Maybe it can be shoehorned to support bitcoin (and/or lightning network).”

LocalEthereum

This is another peer-to-peer marketplace that’s similar to LocalBitcoins, and users have the ability to buy or sell ETH without needing to use a centralized exchange. But unlike LocalBitcoins, LocalEthereum provides some more robust features and a better overall UI for traders.

The smart contract based escrow allows users to exchange foods safely and affordable.

One of their most robust features is increased security, which is essential these days.

Local.Bitcoin.Cash

This is the third and the newest alternative to the LocalBitcoins business. The platform allows users to exchange Bitcoin Cash with fiat currencies.

The UI is user-friendly, and you will find there all the info that you need in order to make transactions. It’s essential to note that the users’ transactions are fully escrowed in order to protect both the seller and the buyer.

These are the three most trustworthy alternatives to LocalBitcoins that we recommend you check out.

People Mentioned

Justin Sun

Founder of TRON (TRX)

Coins Mentioned

Justin Sun

Founder of TRON (TRX)

Companies Mentioned

Justin Sun

Founder of TRON (TRX)

Justin Sun

Founder of TRON (TRX)

+ 1.45%
Icon
Nitrogen Sports

Lorem Ipsum is simply dummy text of the printing and typesetting indu...

Icon
SportBet.io

Lorem Ipsum is simply dummy text of the printing and typesetting indu...

Icon
7bitcasino

Lorem Ipsum is simply dummy text of the printing and typesetting indu...

Icon
FortuneJack

Lorem Ipsum is simply dummy text of the printing and typesetting indu...

Icon
Binance

Lorem Ipsum is simply dummy text of the printing and typesetting indu...

Icon
Kraken

Lorem Ipsum is simply dummy text of the printing and typesetting indu...

Top Exchanges
Icon
Binance

4.93

Read Review - Website

Icon
Kraken

4.10

Read Review - Website

Icon
Binance

4.93

Read Review - Website

Top Casinos
Icon
7bitcasino

4.20

Read Review - Website

Icon
FortuneJack

4.55

Read Review - Website

Icon
BitStarz

4.93

Read Review - Website

Trending news

Advertise

Trending news

Top Exchanges
Icon
Binance

4.93

Read Review - Website

Icon
Kraken

4.10

Read Review - Website

Icon
Binance

4.93

Read Review - Website

Icon
Gemini

4.85

Read Review - Website

Icon
Kraken

4.10

Read Review - Website

Top Casinos
Icon
7bitcasino

4.20

Read Review - Website

Icon
FortuneJack

4.55

Read Review - Website

Icon
BitStarz

4.93

Read Review - Website

Icon
FortuneJack

4.55

Read Review - Website

Icon
7bitcasino

4.20

Read Review - Website

Top Sportsbook
Icon
Nitrogen Sports

4.73

Read Review - Website

Icon
SportBet.io

4.60

Read Review - Website

Icon
Nitrogen Sports

4.73

Read Review - Website

Icon
SportBet.io

4.60

Read Review - Website

Icon
1xBit

4.0

Read Review - Website

Eduard Watson Author

An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.

1366 Articles
7255 Followers