They will also add more cryptocurrencies in the future.
It's a good alternative to localbitcoin but unfortunately, this exchange has never hit the fans. It's already been around for 2 years since they started and they have only about 200 trades daily.
I think the mistake was to use only ethereum, idk, but as usual, when it's about DEXs we always have the low volume problem, so if you start with only ETH, not surprised.
Well, I hope it will improve its userbase.
Topic: LocalCryptos: An alternative to Paxful & Localbitcoins - page 2. (Read 448 times)
But also have risks while using an exchange with no KYC which makes payment in p2p like a source of the payment made to buy bitcoins maybe send from a hacked bank account or even can use for money laundering. If this will be the case then exchanges won't have any responsibility which makes us be accused of doing the crimes.
Lot of new registered account on LBC trying to buy bitcoins at premium rates who were mostly laundering money from hacked bank accounts into bitcoins.
Here are the something things you should do if you don't want to get into any trouble.
More suggestions are welcomed by the community members to help the newbie traders on LBC.
Lot of new registered account on LBC trying to buy bitcoins at premium rates who were mostly laundering money from hacked bank accounts into bitcoins.
Here are the something things you should do if you don't want to get into any trouble.
- Avoid trading with unverified accounts (accounts didn't verified their real name on LBC site).
- Avoid trading newly registered accounts and low trading volumed accounts.
- While you creating ads click check box of Real name required,ID verification required.
- Have low trade limit of high risky payment method.
- Never release btc before getting payment receipt (which is the only thing can help you to appeal against completed trade to LBC customer support).
More suggestions are welcomed by the community members to help the newbie traders on LBC.
I just checked the website to see if there are already available buyers and sellers from my country but there are only a few as of now. I also tried connecting Metamask to the platform but it's asking for an email which I do not like. I guess that's just a minor thing compared to the pros that it's non-KYC and non-custodial.
(edit: I hope you don't mind me sharing this to our local board and getting information from your thread.)
(edit: I hope you don't mind me sharing this to our local board and getting information from your thread.)
The exchange was known as "Localethereum" before changing their name to "LocalCryptos" last week, as they started supporting BTC.
I'm not affiliated with the service, but here are a few reasons on why I think you should use the exchange:
1. No KYC required to use the platform.
2. Non-custodial. You have control over your funds (you can export the private keys).
3. Better UI/UX.
4. Support in-person (cash) transactions (unlike LBC).
It's also possible to import your trust from Localbitcoins and Paxful (soon) to LocalCryptos. So If you are interested in switching and keeping your trust ratings, you can do that!
I'm not affiliated with the service, but here are a few reasons on why I think you should use the exchange:
1. No KYC required to use the platform.
2. Non-custodial. You have control over your funds (you can export the private keys).
3. Better UI/UX.
4. Support in-person (cash) transactions (unlike LBC).
It's also possible to import your trust from Localbitcoins and Paxful (soon) to LocalCryptos. So If you are interested in switching and keeping your trust ratings, you can do that!
Jump to: