The Best LocalBitcoins Alternatives in 2020.
LocalBitcoins based in Helsinki Finland is the world’s most recognized P2P exchange. It gained wide popularity around the world, during the early days as they quickly reacted and came up with a product which the market was missing. However, nowadays Localbitcoins require you to fill KYC documents which is something peer to peer users are commonly not into. Although this is not a problem for all people. Other P2P exchanges are still attracting new users every day, and because of this, here we have listed some of the best Localbitcoins alternatives.
1. Hodl Hodl – is very similar to LocalBitcoins, but lets you stay anonymous.
2. Paxful – is a P2P exchange offering the widest large of payment options.
3. Bisq – is the world’s only fully decentralized open-source P2P exchange.
Hodl Hodl
Hodl Hodl is a new open-source global p2p Bitcoin exchange, which doesn’t hold users’ funds.
The exchange is widely considered the best Localbitcoins alternative since they do not require you to fill out KYC documents the way Localbitcoins is forcing you to do so. Letting you stay anonymous and to make your own decision whether you wanna reveal who you truly are or not.
Hodl Hodl is so easy to use that even beginners can quickly grasp how it works.
To get started with Hodl Hodl, you will simply sign up using your email address, from where you will choose whether you wanna act as a buyer or seller. The system creates multi-signature escrow contracts between the buyers and sellers, the seller will then deposit the Bitcoin directly from their wallet to this escrow. The buyer pays the seller the required amount, which was agreed, the seller then releases Bitcoin from the escrow directly to buyers wallet.
To make sure everyone has a great understanding before they go on doing real trades. Hodl Hodl also lets users train the above methods, through their testnet version. And on top of this, for those wanting to meet in real life, they also make it incredibly simple for users to connect and trade in person.
This exchange is truly the perfect Localbitcoins alternative, you get to become a vibrant part of a local community, and with a wide variety of payment methods to choose from making it an excellent experience for anyone looking to either buy or sell Bitcoins.
Join Hodl Hodl, and enjoy exclusive fee discounts.
Paxful
Paxful is a well-known Peer to Peer exchange offering over 300 ways to pay for Bitcoins.
This P2P exchange lets users purchase and trade Bitcoins even with the weirdest payment methods you can imagine off. From all types of different gift cards to google pay, Alipay, PayPal and all the way up to credit cards and bank transfers.
The payment method options are quite literally endless, making it possible for anyone to at least purchase something. However one must remember that this exchange is Peer to Peer which means the prices are determined by other users, and you might end up having to pay a huge premium for certain payment methods.
That being said, Paxful is still a well functional exchange, and it has a unique way to let the sellers and buyers earn reputation through their trades, which shows others if they are to be trusted or not. Some payment methods require you to verify your identity and it is also up to the users whether they wanna trade with an unverified person or not.
All in all, Paxful is an excellent peer to peer exchange and a great place to either become a seller or to purchase Bitcoins through one of their hundreds of unique ways.
Bisq
Bisq is the world’s only fully decentralized open-source peer to peer Bitcoin exchange.
This exchange is actually the most advanced on the list, it offers unique open-source p2p application which you can use to connect with other users to either buy or sell cryptocurrencies. No registration is needed and personal data is only shared between the users who trade, and no personal data ever leaves the local computer. Sounds amazing right? Well, it is.
To put it lightly: Bisq is truly a different technology from anything we’ve seen in the crypto world yet. At best you could run the whole application on Raspberry Pi, like seriously, think of it, running a whole exchange on a microcomputer? Yeah, that’s where the world is going.
To get started with Bisq, you will have to download the application or you may as well build it from a source, then add your local currency, or cryptos. From where you will either create new offers or take an existing one.
Although Bisq is ahead of the game. It might still be a bit too much for the average user, and for those, we would suggest looking at the other examples above. However, if you feel like being one of those nerdy cypherpunks, go for it.
You can check Bisq Network here.
Conclusion
These are currently the best LocalBitcoins alternatives.
Peer to Peer is a concept that will surely keep attracting new people, exchanges, and technologies as we move forward, since this is where the crypto truly shines at, and it is where the world is heading. First, we’re gonna unbank the banked, and then we gonna decentralized the nanny state governments.
To learn more about trading, check our article on How to Trade Cryptocurrencies.
To find more cryptocurrency exchanges, check our updated Best Crypto Exchanges list.
Reminder: Never leave your coins in the exchange. “Not your private keys, not your coins!”
Visit the original website: bitshills.com
