LocalBitcoins has been operating as a leading Bitcoin (BTC/USD) peer-to-peer (P2P) crypto exchange for the last 10 years but it recently announced that it was shutting down due to unfavourable market conditions. This has left millions of its customers looking for LocalBitcoins alternatives where they can continue with their crypto trading experience.
As a P2P cryptocurrency exchange, LocalBitcoins allowed peers to buy and sell cryptocurrencies and precisely BTC without using a third party such as a bank or an order book to pair buy and sell orders and control the platform’s assets. Users would directly connect through a transparent process and buy or sell bitcoins from each other using fiat currency.
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Now that it has closed its operations with customers only being allowed to transfer/withdraw their crypto assets within the next 12 months, here are some of the best LocalBitcoins alternatives that users can hop to.
Top 5 alternatives to LocalBitcoins
eToro
eToro is a multi-asset investment platform with more than 2000 assets, including stocks, ETF’s, indices, commodities and Cryptoassets. eToro offers over 60+ Cryptoassets to invest or invest in their CryptoPortfolio where investors can benefit from the accumulated growth of Bitcoin, Ethereum, XRP, Litecoin and other leading cryptocurrencies. eToro users can connect with, learn from, and copy or get copied by other users.
Register with eToro instantly Cryptoasset investing is unregulated in most EU countries and the UK. No consumer protection. Your capital is at risk. CFD crypto trading is unavailable for clients residing in the UK and US.
Bitstamp
World’s longest-standing crypto exchange. Since 2011 Bitstamp has been providing a secure and reliable trading venue to over four million individuals and a range of institutional partners.
Register with Bitstamp instantly
Binance
Binance has grown exponentially since it was founded in 2017 and is now one of, if not the biggest cryptocurrency exchanges on the market.
Register with Binance instantly
OKX
OKX is a world-leading cryptocurrency exchange, providing advanced financial services to traders globally by using blockchain technology.
Register with OKX instantly Trading in digital assets is considered high risk. Digital assets are NOT backed by any government or central bank. The risk of loss in trading or holding digital assets can be substantial. You should carefully consider whether interacting, holding, or trading digital assets is suitable for you in light of your financial condition.
Skilling
Skilling is a regulated Forex and CFD broker that allows traders to access 800+ financial instruments, including 10 popular cryptocurrency CFDs with competitive pricing and fast execution time. Skilling offers a selection of trading platforms, including the proprietary Skilling Trader and popular, industry renown cTrader and MetaTrader 4 platforms, which can suit the needs of customers with different levels of trading experience.
Register with Skilling instantly 66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
In Conclusion
Choosing a cryptocurrency exchange is a crucial step for a crypto trader since it determines the rest of your crypto trading experience. It is therefore important to look for the best LocalBitcoins alternative where you can continue with your crypto trading activities without disruptions.
The above list contains our best picks of where previous LocalBitcoins users can shift to. However, if you are searching for a specific type of crypto exchange, you can have a look at our list of the best crypto exchanges with low fees.
