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LocalBitcoins: why closed? 4 alternatives for localbitcoins.fi (02.2024)

LocalBitcoins user interface: the home page in English

What was LocalBitcoins (now defunct) in a nutshell? It was maybe not the most popular, yet respectable, rather an aged exchange service (p2p marketplace) working with 1 cryptocurrency: you could Exchange service started the business Jun 2013, it was a fully compliant, licensed financial company.

This P2P Marketplace served the clients from 255 countries (including your country: United States!). It was open for the US customers and allowed registrations from all the 56 states and territories. In the year 2023 LocalBitcoins was closed for unknown reasons. The reason why the p2p marketplace had to close the doors was unknown.

Research: the best alternative to LocalBitcoins

Since there is no way you can use the services of localbitcoins in 2024, we took the liberty to research the market and suggest a viable, well-known, 100% trusted alternative exchange platform. How we did it? Let's explain! Makes sense to start from figuring out what exactly we are looking for:

LocalBitcoins was the P2P Marketplace; LocalBitcoins Oy (dba LocalBitcoins) started the business in June 2013. The entity was operating for 10 years and 8 months and gained some popularity on the market. The company was based in the Finland with the headquarters located in Helsinki. Official LocalBitcoins registration address was 00180 Porkkalankatu 24. The firm was a licensed MSB, regulated by the Finnish Financial Supervisory Authority; it held the Cryptocurrencies exchange license.

LocalBitcoins was founded by Jeremias Kangas. LocalBitcoins CEO was Sebastian Sonntag.

Quote about LocalBitcoins from the reviewer: «The first P2P Exchange on the market, it started as an anonymous marketplace in 2012. After few months of operation it introduced Escrow system and started generating revenue in early 2013.» P2P Marketplace was not rated by our platform. Website only assisted the users to exchange various electronic currencies, no extra services were provided.

Considering all the abovementioned, we were looking for another p2p marketplace allowing registrations from United States with a flawless reputation and the best rating and found a perfect match: Bitpapa! Let's explain what makes it the best choice for you:

BITPAPA is also a P2P Marketplace; Bitpapa IC FZC LLC. (dba Bitpapa) had started doing the business in May 2020. The legal entity is established in the United Arab Emirates and the principal office is located in the Ajman media City Free Economic Zone. Registration address of Bitpapa is A-0059-652 - Flamingo Villas. It is a maybe not the most recognized, but well established, exchange platform (p2p marketplace) that supports 5 cryptocurrencies and tokens: you can buy and sell crypto using 14 national currencies (75 payment systems and banks are supported). Besides the crypto-exchange, bitpapa.com also provides other crypto-related services, for example, Mobile wallet. This is what we value the most about this great exchange service:

  • Although the entity holds no special licenses, etc. it fully complies with the local regulation
  • The exchange runs the business for a long time; project was started 3 years and 9 months ago
  • The platform supports 5 cryptocurrencies and 14 fiat ones (totally 75 payment systems / banks are available). Apart from buying, selling and exchanging cryptocurrencies, there are other services available: Mobile wallet
  • Bitpapa accepts the registrations from 255 countries; customers from United States can use the services

So, let's conclude: the best alternative to LocalBitcoins is

Bitpapa. We know fairly much about this P2P Marketplace and other similar services, please continue reading!
Time in the business: 3 years 9 months
Feedback count: 0
Business model: no special licenses, etc.

Overall scoring for Bitpapa: N/A
Although we have not collected enough testimonials to assign a rating to Bitpapa, we can pre-estimate the rating (considering there will be no user complaints) as 84/100.

More alternatives to LocalBitcoins

Of course, we can suggest some more alternative exchange services you can use instead of the "dead" localbitcoins.fi. We picked a few similar exchanges that provides more or less the same service: other ones of p2p marketplace type mostly. Besides, we found platforms having similar rating that are popular in United States particularly and North America in general. If the only question that you want to ask is "what exchange has the best rates to buy and sell BTC and 50 cryptocurrencies?", our price comparison platform always finds the most beneficial exchange rates in United States!

LocalBitcoins vs CEX

Let's compare the most important features and key facts about the CEX with what LocalBitcoins (RIP) offered us in the past to make a conclusion if CEX will be the optimal choice for you:

  • CEX is a trading platform LocalBitcoins was a p2p marketplace, it's also an exchange, but has slightly different business model (feel free to read details about the difference between trading platform and p2p marketplace)
  • CEX had launched the service July 2014 LocalBitcoins started the project June 2013 (LocalBitcoins operated 1 years and 0 months longer).
  • CEX has all the business licenses and permissions, required by law LocalBitcoins had all the required licenses, permissions, etc. (both websites operate(d) using the same business model, similar approach to the business, legal matters, etc.).
  • Other than providing the services of buying, selling and exchanging cryptocurrency, CEX provides some other exchange-related / financial services: Lending, Margin Trading, Faucets (small amounts of cryptos for free) and the Staking, MasterNodes, etc. (passive income opportunity) LocalBitcoins provided less financial or other services, related to the cryptocurrency exchange: it only exchanged cryptos.
  • CEX supports 30 cryptocurrencies LocalBitcoins allowed to exchange only one crypto (LocalBitcoins supports 29 fewer cryptocurrencies).
  • CEX allows users' registrations from 224 countries; and we are glad to say that the people from United States are welcome You could register at the LocalBitcoins if you were a resident of one of 255 countries; it served United States among all others (LocalBitcoins supported more countries and territories).
  • When the client needs to pass through the KYC process at CEX, they usually ask to provide 3 documents and / or specific procedures: ID or Passport Verification, Phone Number Confirmation (SMS or a call), Selfie with ID in hands. In most of the cases, it takes about a day or two, as per the actual clientele survey results The process of Customer Identification at LocalBitcoins normally consisted of a few (it was mostly case-by-case basis) individual procedures. (LocalBitcoins had KYC policies that required the customer to provide less data and spend less time on the verification).

We can't make a decision — is CEX a worthy alternative to LocalBitcoins — instead of you, but we'll try to assist with the matter. CEX got a nice ranking score at our platform: 100 / 100 and we assume it would be a good replacement for LocalBitcoins, worth inspecting, at least!

Like reading? In fact, there are more exchanges worth comparing to LocalBitcoins, for example, those ones:

LocalBitcoins vs Coinbase

Let's compare the most important features and key facts about the COINBASE with what LocalBitcoins (RIP) offered us in the past to make a conclusion if Coinbase will be the optimal choice for you:

  • Coinbase is a e-wallet LocalBitcoins was a p2p marketplace, it's also an exchange, but has slightly different business model (feel free to read details about the difference between e-wallet and p2p marketplace)
  • Coinbase had launched the service June 2012 LocalBitcoins started the project June 2013 (Coinbase is operating for 1 years and 0 months longer).
  • Coinbase has all the business licenses and permissions, required by law LocalBitcoins had all the required licenses, permissions, etc. (both websites operate(d) using the same business model, similar approach to the business, legal matters, etc.).
  • Besides cryptocurrencies buying|selling, Coinbase provides some other exchange-related / financial services: ATM Cards, Merchant Services and the Staking, MasterNodes, etc. (passive income opportunity) LocalBitcoins provided less financial or other services, related to the cryptocurrency exchange: it only exchanged cryptos.
  • Coinbase supports 21 cryptocurrencies LocalBitcoins allowed to exchange only one crypto (LocalBitcoins supports 20 fewer cryptocurrencies).
  • Coinbase's customers are rewarded with the gifts LocalBitcoins had neither gifts or cashback available (LocalBitcoins & Coinbase both provide(d) more or less the same bonuses / gifts / etc. for the loyal customers).
  • Coinbase allows users' registrations from 39 countries; and we are glad to say that the people from United States are welcome You could register at the LocalBitcoins if you were a resident of one of 255 countries; it served United States among all others (LocalBitcoins supported more countries and territories).
  • When the client needs to pass through the KYC process at Coinbase, they usually ask to provide 2 documents and / or specific procedures: ID or Passport Verification, Phone Number Confirmation (SMS or a call). In most of the cases, it takes about a day or two, as per the actual clientele survey results The process of Customer Identification at LocalBitcoins normally consisted of a few (it was mostly case-by-case basis) individual procedures. (LocalBitcoins had KYC policies that required the customer to provide less data and spend less time on the verification).

We can't make a decision — is Coinbase a worthy alternative to LocalBitcoins — instead of you, but we'll try to assist with the matter. Coinbase got a nice ranking score at our platform: 100 / 100 and we assume it would be a good replacement for LocalBitcoins, worth inspecting, at least!

Like reading? In fact, there are more exchanges worth comparing to LocalBitcoins, for example, those ones:

LocalBitcoins vs TransCoin

Let's compare the most important features and key facts about the TRANSCOIN with what LocalBitcoins (RIP) offered us in the past to make a conclusion if TransCoin will be the optimal choice for you:

  • TransCoin is a broker LocalBitcoins was a p2p marketplace, it's also an exchange, but has slightly different business model (feel free to read details about the difference between broker and p2p marketplace)
  • TransCoin had launched the service May 2018 LocalBitcoins started the project June 2013 (LocalBitcoins operated 4 years and 11 months longer).
  • TransCoin has all the business licenses and permissions, required by law LocalBitcoins had all the required licenses, permissions, etc. (both websites operate(d) using the same business model, similar approach to the business, legal matters, etc.).
  • TransCoin supports 1 cryptocurrencies LocalBitcoins allowed to exchange only one crypto (LocalBitcoins & TransCoin count the same number of electronic currencys).
  • TransCoin allows users' registrations from 255 countries; and we are glad to say that the people from United States are welcome You could register at the LocalBitcoins if you were a resident of one of 255 countries; it served United States among all others (LocalBitcoins & TransCoin support(ed) the same number of countries worldwide).
  • When the client needs to pass through the KYC process at TransCoin, they usually ask to provide some (it depends on various factors) documents and / or specific procedures The process of Customer Identification at LocalBitcoins normally consisted of a few (it was mostly case-by-case basis) individual procedures. (LocalBitcoins & TransCoin alike require(d) the users to complete (more or less) the same steps in the course of the verification process).

We can't make a decision — is TransCoin a worthy alternative to LocalBitcoins — instead of you, but we'll try to assist with the matter. TransCoin got a nice ranking score at our platform: 100 / 100 and we assume it would be a good replacement for LocalBitcoins, worth inspecting, at least!

Like reading? In fact, there are more exchanges worth comparing to LocalBitcoins, for example, those ones:

LocalBitcoins vs Kraken

Let's compare the most important features and key facts about the KRAKEN with what LocalBitcoins (RIP) offered us in the past to make a conclusion if Kraken will be the optimal choice for you:

  • Kraken is a trading platform LocalBitcoins was a p2p marketplace, it's also an exchange, but has slightly different business model (feel free to read details about the difference between trading platform and p2p marketplace)
  • Kraken had launched the service July 2011 LocalBitcoins started the project June 2013 (Kraken is operating for 1 years and 10 months longer).
  • Kraken has all the business licenses and permissions, required by law LocalBitcoins had all the required licenses, permissions, etc. (both websites operate(d) using the same business model, similar approach to the business, legal matters, etc.).
  • Other than providing the services of buying, selling and exchanging cryptocurrency, Kraken provides some other exchange-related / financial services: Mobile wallet, OTC trading, Margin Trading, Futures Trading and the Staking, MasterNodes, etc. (passive income opportunity) LocalBitcoins provided less financial or other services, related to the cryptocurrency exchange: it only exchanged cryptos.
  • Kraken supports 35 cryptocurrencies LocalBitcoins allowed to exchange only one crypto (LocalBitcoins supports 34 fewer cryptocurrencies).
  • Kraken allows users' registrations from 234 countries; and we are glad to say that the people from United States are welcome You could register at the LocalBitcoins if you were a resident of one of 255 countries; it served United States among all others (LocalBitcoins supported more countries and territories).
  • When the client needs to pass through the KYC process at Kraken, they usually ask to provide 2 documents and / or specific procedures: ID or Passport Verification, current Address Confirmation (utility bill, bank or credit card statement, etc.). In most of the cases, it takes about a day or two, as per the actual clientele survey results The process of Customer Identification at LocalBitcoins normally consisted of a few (it was mostly case-by-case basis) individual procedures. (LocalBitcoins had KYC policies that required the customer to provide less data and spend less time on the verification).

We can't make a decision — is Kraken a worthy alternative to LocalBitcoins — instead of you, but we'll try to assist with the matter. Kraken got a nice ranking score at our platform: 100 / 100 and we assume it would be a good replacement for LocalBitcoins, worth inspecting, at least!

Like reading? In fact, there are more exchanges worth comparing to LocalBitcoins, for example, those ones:

LocalBitcoins vs EXMO

Let's compare the most important features and key facts about the EXMO with what LocalBitcoins (RIP) offered us in the past to make a conclusion if EXMO will be the optimal choice for you:

  • EXMO is a trading platform LocalBitcoins was a p2p marketplace, it's also an exchange, but has slightly different business model (feel free to read details about the difference between trading platform and p2p marketplace)
  • EXMO had launched the service May 2013 LocalBitcoins started the project June 2013 (EXMO is operating for 1 months longer).
  • EXMO has all the business licenses and permissions, required by law LocalBitcoins had all the required licenses, permissions, etc. (both websites operate(d) using the same business model, similar approach to the business, legal matters, etc.).
  • Other than providing the services of buying, selling and exchanging cryptocurrency, EXMO provides some other exchange-related / financial services: Cash codes, OTC trading and the Margin Trading LocalBitcoins provided less financial or other services, related to the cryptocurrency exchange: it only exchanged cryptos.
  • EXMO supports 24 cryptocurrencies LocalBitcoins allowed to exchange only one crypto (LocalBitcoins supports 23 fewer cryptocurrencies).
  • EXMO allows users' registrations from 255 countries; and we are glad to say that the people from United States are welcome You could register at the LocalBitcoins if you were a resident of one of 255 countries; it served United States among all others (LocalBitcoins & EXMO support(ed) the same number of countries worldwide).
  • When the client needs to pass through the KYC process at EXMO, they usually ask to provide 3 documents and / or specific procedures: ID or Passport Verification, current Address Confirmation (utility bill, bank or credit card statement, etc.), Selfie with ID in hands. In most of the cases, it takes about a day or two, as per the actual clientele survey results The process of Customer Identification at LocalBitcoins normally consisted of a few (it was mostly case-by-case basis) individual procedures. (LocalBitcoins had KYC policies that required the customer to provide less data and spend less time on the verification).

We can't make a decision — is EXMO a worthy alternative to LocalBitcoins — instead of you, but we'll try to assist with the matter. EXMO got a nice ranking score at our platform: 100 / 100 and we assume it would be a good replacement for LocalBitcoins, worth inspecting, at least!

Like reading? In fact, there are more exchanges worth comparing to LocalBitcoins, for example, those ones:

Another approach: finding the best rate to exchange BTC & crypto in United States and North America

There is another way of finding the most worthy alternative to LocalBitcoins that will work best for you considering:

  • The fees and rates provided at the moment by 3 exchange websites of a "P2P Marketplace" type and 10,257 other offers.
  • BTC/USD exchange rate at those ; the availability of service for the residents of United States.
  • Which local banks & payment systems out of 154 serving US are the fastest, most convenient and cost-efficient personally for you.
  • Amount you need to swap: say, the conditions for exchanging USD 1 will be significantly different from the terms of $50,867.0 conversion.
  • And of course, you see the rating, users reviews (up-to-date 523 real clients testimonials), etc. for all the offers available!
Buying and Selling BTC in United States

Our platform could find 39 offers to buy, sell, exchange BTC available to users from United States, and 33 of these are for the US Dollar currency. There are totally 27 exchange services supporting US. Some of those are providing the access to USD|BTC market, including such types as e-wallet, P2P Marketplace, Trading Platform, etc. 5 exchanges has active offers for these currencies right now; you can buy/sell using 19 local and international payment systems & banks! The local dealers and exchanges are mentioning the support of 16 local banking institutions and the payment systems. According to the latest data we have, the lowest fee to purchase BTC with USD locally is available for SWIFT Transfer, payment system of the International Bank Transfers type. The most popular domestic options for purchasing BTC @ US:

Although there's no data left, what was available at localbitcoins.fi for the clients from United States, we are sure that you'll find a worthy alternative on one of 36 exchange websites we compare the rates at! Check out what the local dealers and platforms are offering: currently there are 16 domestic banks supported. Besides, you may find something interesting browsing 10,257 offers available with 19 ways to pay internationally, either to neighboring countries in North America or to any other part of the world.