LocalCoinSwap review & testimonials for localcoinswap.com (12.2024)
- Overview: is LocalCoinSwap safe?
- Pros & Cons of LocalCoinSwap
- Services, LocalCoinSwap Provides
- Currencies & Payment Systems
- LocalCoinSwap fees
- Buying and selling limits
- Supported countries
- Customer service
- Verification at LocalCoinSwap
- Deposit/withdrawal speed
- Customers' testimonials
- FAQ about LocalCoinSwap
- LocalCoinSwap vs other exchanges
- Conclusion: is LocalCoinSwap legit or scam?
What is LocalCoinSwap in a nutshell? It's maybe not the most popular, yet rather an aged exchange service (p2p marketplace) working with 2 cryptocurrencies: you can Exchange service started the business Dec 2017, it serves the clients for a few years.
This P2P Marketplace
welcomes customers from
255
countries
(including your country: United States!).
It serves the US and allows registrations from
all the
56
states and territories.
Unfortunately we couldn't yet collect enough data about the order processing speed from the actual customers,
maybe you know how fast LocalCoinSwap processes the orders? If you do, please
share the knowledge!
Thanks a lot!
Depending on the order details, you may need to verify your account
Based on all these facts, our verdict is the following: LocalCoinSwap is a likely not bad, but not yet rated by our visitors place to exchange cryptocurrencies, an exchange that we consider will get some positive reviews soon!
Overview: is LocalCoinSwap safe?
Pros & Cons of LocalCoinSwap
Although LocalCoinSwap is not yet rated by our visitors, common sense tells us it should have both strong sides and some downsides. Let's check it out:
- P2P Marketplace operates for a long time, service was started 2017.12.
- Almost all the countries in the world are welcomed here! Feel free to check if your country is allowed to register an account.
- Localcoinswap doesn't hold the users money! It offers safe and trustless non-custodial trades so one but you is in control of your coins.
- Only 2 digital currencies. It's a pity, but there are no fiat payment systems available for exchange with cryptos. Another downside is that this exchange does't allow crypto-to-crypto swaps.
- The quality of service, speed, etc. varies from seller to seller; the platform itself has almost zero impact on these.
Seems that there are not so many cons, but a lot of pros. We hope you will enjoy your experience exchanging at LocalCoinSwap! Try LocalCoinSwap today and let us know how you like it!
Services, LocalCoinSwap Provides
The platform provides the following cryptocurrency exchange-related services:
As we can see, LocalCoinSwap doesn't provide any services besides the cryptocurrency exchange, althought it's definitely not a bad thing; after all, we came here for the crypto exchange, right?
Currencies & Payment Systems
LocalCoinSwap provides the service of various cryptocurrencies exchange. 2 digital currencies one into another. The following cryptocurrencies are available to Bitcoin (BTC), Dash (DASH).
If you are not sure, which one of these electronic currencies you are most interested in, you are welcome to read our guides. For example, these: Top 5 cryptocurrencies with smart contracts to buy in 2024.
LocalCoinSwap fees
Since LocalCoinSwap is a P2P marketplace, every seller is free to set the fee he wishes. So the fee depends on the offer and can be virtually any amount, although most of the dealers charge very reasonable fees. It's a market, after all! Feel free to browse the offers to check the fees for your country, preferred currency and bank or payment system!
Buying and selling limits
The business model of P2P market is based on fact that every seller has his own terms of the trade. Hence we can't provide you with min/max amounts LocalCoinSwap allows to buy and sell, it really varies from dealer to dealer. Please check it by yourself!
Supported countries
Platform allows the users from 255 countries to use the exchange. The following countries are supported by the p2p marketplace:
- Afghanistan (AF)
- Aland Islands (AX)
- Albania (AL)
- Algeria (DZ)
- American Samoa (AS)
- Andorra (AD)
- Angola (AO)
- Anguilla (AI)
- Antarctica (AQ)
- Antigua & Barbuda (AG)
- Argentina (AR)
- Armenia (AM)
- Aruba (AW)
- Ascension Island (AC)
- Australia (AU)
- Austria (AT)
- Azerbaijan (AZ)
- Bahamas (BS)
- Bahrain (BH)
- Bangladesh (BD)
- Barbados (BB)
- Belarus (BY)
- Belgium (BE)
- Belize (BZ)
- Benin (BJ)
- Bermuda (BM)
- Bhutan (BT)
- Bolivia (BO)
- Bosnia & Herzegovina (BA)
- Botswana (BW)
- Bouvet Island (BV)
- Brazil (BR)
- British Indian Ocean Territory (IO)
- British Virgin Islands (VG)
- Brunei (BN)
- Bulgaria (BG)
- Burkina Faso (BF)
- Burundi (BI)
- Cambodia (KH)
- Cameroon (CM)
- Canada (CA)
- Canary Islands (IC)
- Cape Verde (CV)
- Caribbean Netherlands (BQ)
- Cayman Islands (KY)
- Central African Republic (CF)
- Ceuta & Melilla (EA)
- Chad (TD)
- Chile (CL)
- China (CN)
- Christmas Island (CX)
- Cocos (Keeling) Islands (CC)
- Colombia (CO)
- Comoros (KM)
- Congo - Brazzaville (CG)
- Congo - Kinshasa (CD)
- Cook Islands (CK)
- Costa Rica (CR)
- Côte d’Ivoire (CI)
- Croatia (HR)
- Cuba (CU)
- Curaçao (CW)
- Cyprus (CY)
- Czech Republic (CZ)
- Denmark (DK)
- Diego Garcia (DG)
- Djibouti (DJ)
- Dominica (DM)
- Dominican Republic (DO)
- Ecuador (EC)
- Egypt (EG)
- El Salvador (SV)
- Equatorial Guinea (GQ)
- Eritrea (ER)
- Estonia (EE)
- Ethiopia (ET)
- Falkland Islands (FK)
- Faroe Islands (FO)
- Fiji (FJ)
- Finland (FI)
- France (FR)
- French Guiana (GF)
- French Polynesia (PF)
- French Southern Territories (TF)
- Gabon (GA)
- Gambia (GM)
- Georgia (GE)
- Germany (DE)
- Ghana (GH)
- Gibraltar (GI)
- Greece (GR)
- Greenland (GL)
- Grenada (GD)
- Guadeloupe (GP)
- Guam (GU)
- Guatemala (GT)
- Guernsey (GG)
- Guinea (GN)
- Guinea-Bissau (GW)
- Guyana (GY)
- Haiti (HT)
- Heard Island and McDonald Islands (HM)
- Honduras (HN)
- Hong Kong SAR China (HK)
- Hungary (HU)
- Iceland (IS)
- India (IN)
- Indonesia (ID)
- Iran (IR)
- Iraq (IQ)
- Ireland (IE)
- Isle of Man (IM)
- Israel (IL)
- Italy (IT)
- Jamaica (JM)
- Japan (JP)
- Jersey (JE)
- Jordan (JO)
- Kazakhstan (KZ)
- Kenya (KE)
- Kiribati (KI)
- Kosovo (XK)
- Kuwait (KW)
- Kyrgyzstan (KG)
- Laos (LA)
- Latvia (LV)
- Lebanon (LB)
- Lesotho (LS)
- Liberia (LR)
- Libya (LY)
- Liechtenstein (LI)
- Lithuania (LT)
- Luxembourg (LU)
- Macau SAR China (MO)
- Macedonia (MK)
- Madagascar (MG)
- Malawi (MW)
- Malaysia (MY)
- Maldives (MV)
- Mali (ML)
- Malta (MT)
- Marshall Islands (MH)
- Martinique (MQ)
- Mauritania (MR)
- Mauritius (MU)
- Mayotte (YT)
- Mexico (MX)
- Micronesia (FM)
- Moldova (MD)
- Monaco (MC)
- Mongolia (MN)
- Montenegro (ME)
- Montserrat (MS)
- Morocco (MA)
- Mozambique (MZ)
- Myanmar (Burma) (MM)
- Namibia (NA)
- Nauru (NR)
- Nepal (NP)
- Netherlands (NL)
- New Caledonia (NC)
- New Zealand (NZ)
- Nicaragua (NI)
- Niger (NE)
- Nigeria (NG)
- Niue (NU)
- Norfolk Island (NF)
- Northern Mariana Islands (MP)
- North Korea (KP)
- Norway (NO)
- Oman (OM)
- Pakistan (PK)
- Palau (PW)
- Palestinian Territories (PS)
- Panama (PA)
- Papua New Guinea (PG)
- Paraguay (PY)
- Peru (PE)
- Philippines (PH)
- Pitcairn Islands (PN)
- Poland (PL)
- Portugal (PT)
- Puerto Rico (PR)
- Qatar (QA)
- Réunion (RE)
- Romania (RO)
- Russia (RU)
- Rwanda (RW)
- Samoa (WS)
- San Marino (SM)
- São Tomé & Príncipe (ST)
- Saudi Arabia (SA)
- Senegal (SN)
- Serbia (RS)
- Seychelles (SC)
- Sierra Leone (SL)
- Singapore (SG)
- Sint Maarten (SX)
- Slovakia (SK)
- Slovenia (SI)
- Solomon Islands (SB)
- Somalia (SO)
- South Africa (ZA)
- South Georgia & South Sandwich Islands (GS)
- South Korea (KR)
- South Sudan (SS)
- Spain (ES)
- Sri Lanka (LK)
- St. Barthélemy (BL)
- St. Helena (SH)
- St. Kitts & Nevis (KN)
- St. Lucia (LC)
- St. Martin (MF)
- St. Pierre & Miquelon (PM)
- St. Vincent & Grenadines (VC)
- Sudan (SD)
- Suriname (SR)
- Svalbard & Jan Mayen (SJ)
- Swaziland (SZ)
- Sweden (SE)
- Switzerland (CH)
- Syria (SY)
- Taiwan (TW)
- Tajikistan (TJ)
- Tanzania (TZ)
- Thailand (TH)
- Timor-Leste (TL)
- Togo (TG)
- Tokelau (TK)
- Tonga (TO)
- Trinidad & Tobago (TT)
- Tristan da Cunha (TA)
- Tunisia (TN)
- Turkey (TR)
- Turkmenistan (TM)
- Turks & Caicos Islands (TC)
- Tuvalu (TV)
- Uganda (UG)
- Ukraine (UA)
- United Arab Emirates (AE)
- United Kingdom (GB)
- United States (US)
- Uruguay (UY)
- U.S. Outlying Islands (UM)
- U.S. Virgin Islands (VI)
- Uzbekistan (UZ)
- Vanuatu (VU)
- Vatican City (VA)
- Venezuela (VE)
- Vietnam (VN)
- Wallis & Futuna (WF)
- Western Sahara (EH)
- Yemen (YE)
- Zambia (ZM)
- Zimbabwe (ZW)
Does LocalCoinSwap allow the users from United States (US)?
Yes, localcoinswap.com allows the registrations from the United States! P2P Marketplace permits the users from 56 states and territories to register at and use the services exchange provides:
- Alabama (AL)
- Alaska (AK)
- American Samoa (AS)
- Arizona (AZ)
- Arkansas (AR)
- California (CA)
- Colorado (CO)
- Connecticut (CT)
- Delaware (DE)
- District of Columbia (DC)
- Florida (FL)
- Georgia (GA)
- Guam (GU)
- Hawaii (HI)
- Idaho (ID)
- Illinois (IL)
- Indiana (IN)
- Iowa (IA)
- Kansas (KS)
- Kentucky (KY)
- Louisiana (LA)
- Maine (ME)
- Maryland (MD)
- Massachusetts (MA)
- Michigan (MI)
- Minnesota (MN)
- Mississippi (MS)
- Missouri (MO)
- Montana (MT)
- Nebraska (NE)
- Nevada (NV)
- New Hampshire (NH)
- New Jersey (NJ)
- New Mexico (NM)
- New York (NY)
- North Carolina (NC)
- North Dakota (ND)
- Northern Mariana Islands (MP)
- Ohio (OH)
- Oklahoma (OK)
- Oregon (OR)
- Pennsylvania (PA)
- Puerto Rico (PR)
- Rhode Island (RI)
- South Carolina (SC)
- South Dakota (SD)
- Tennessee (TN)
- Texas (TX)
- U.S. Virgin Islands (VI)
- Utah (UT)
- Vermont (VT)
- Virginia (VA)
- Washington (WA)
- West Virginia (WV)
- Wisconsin (WI)
- Wyoming (WY)
Americans are welcome to exchange various cryptos that are supported by the p2p marketplace.
Please visit the exchange's website to check the offers that are currently active!
Customer service
Verification at LocalCoinSwap
The localcoinswap.com may require the customers to pass through the user identification (account verification) process. The company may require you to verify some information about your identity; the details depend on order amount, exchange direction, payment systems used, etc.
And remember that since this is a P2P market, every seller or buyer creating an ad is free to determine his own terms. Some dealers require KYC, some — don't. You'll see all the details during an order creation.
According to the customers surveys results, the average time to verify an account at LocalCoinSwap is the following:
Sorry, we haven't yet collected enough data. Do you know, how fast p2p marketplace does account verification? Kindly let us know, too. Thank you very much!
Deposit/withdrawal speed
Unlike all other exchange platforms, the P2P marketplace has almost no control over the funds delivery speed. In fact, it all depends on the dealer: if him or her will be fast, your monies are in wallet in no time. But if he/she is not — that's a completely different story!
The good thing is that you always can see the data about average escrow release, etc. before doing an exchange: choose the dealers with good feedback and nice stats and you should never ever have any problems!
Customers' testimonials
There are currently no users testimonials about the LocalCoinSwap. Do you have any experience using this p2p marketplace? If you do, please say a couple of words about it!
FAQ about LocalCoinSwap
Does LocalCoinSwap holds my funds?
It does not! Unlike most of the competition, LocalCoinSwap supports non-custodial trading. That means nobody but you have an access to the funds and no third party can seize, steal, or lock your money. Although such an approach requires the transaction to be broadcasted to the blockchain hence could take a bit longer time, that's definitely the most trustless, safest, and truly decentralized way to trade cryptos and tokens!
Is LocalCoinSwap a good p2p marketplace?
Although we have not enough users' reviews yet, we analyzed the information we have. Feel free to get acquainted with the details reading this review or just jump to the conclusion!
Is LocalCoinSwap licensed? Does it hold e-money license?
It is not, although seems that such business model complies with the regulation in LocalCoinSwap home country.
Is LocalCoinSwap a ripoff?
It is not a ripoff, although we have not rated LocalCoinSwap yet due to lack of user testimonials, it complies with our standards. Feel free to read the whole this review to understand why or check our conclusion: is LocalCoinSwap legit or scam.
LocalCoinSwap vs other exchanges
Let's compare localcoinswap.com to other similar exchange services with more or less the same features: others of p2p marketplace type mostly. Besides, seems reasonable to compare the platform with the exchanges having similar rating and serving (mostly) the same geographic, etc. Remember that if you wish to find the exchange offering the best price to buy/sell Bitcoin and 50 other cryptos, check the best rates to buy bitcoin and crypto in United States!
LocalCoinSwap vs CEX
Let's compare the key features of these two platforms to see which one suits you best:
- CEX is a trading platform LocalCoinSwap is a p2p marketplace, it has a different business model (feel free to read about the differences between trading platform and p2p marketplace)
- CEX had started the business July 2014 LocalCoinSwap started the business December 2017 (cex.io is working for 3 years and 5 months longer time).
- cex.io has all the required business licenses and permissions LocalCoinSwap is an ordinary company without licenses, etc. (CEX's business model is more stable and safer for clients).
- Besides buying, selling and exchanging cryptocurrencies, cex.io provides the following extra services: Lending, Margin Trading, Faucets (small amounts of cryptos for free) and the Staking, MasterNodes, etc. (passive income opportunity) LocalCoinSwap provides us with less services, related to the crypto exchange: it just exchanges cryptos.
- CEX supports 29 cryptocurrencies and tokens LocalCoinSwap allows to swap 2 cryptos (LocalCoinSwap works with 27 cryptocurrencies & tokens fewer).
- CEX allows registrations from 224 countries; United States is among the supported ones You may register at LocalCoinSwap if you reside in one of 255 countries; it serves United States among others (LocalCoinSwap supports more countries worldwide).
- During the account verification CEX usually asks for 3 documents and/or procedures (id verification, phone confirmation, selfie) and it takes a day or two in most of the cases User identification at LocalCoinSwap usually consists of some (it depends) different procedures (LocalCoinSwap's KYC policy requires the customer to take less actions or to provide less data).
Although the final decision, which exchange — CEX or LocalCoinSwap — is better is up to you, we'll try to help you with the decision. Both exchanges are great, since at least one of them is not yet rated at our platform, we recommend you look at the list above and decide, what is most important for you!
If you feel like need more comparison versus other exchanges, feel free to check these:
LocalCoinSwap vs Coinbase
Let's compare the key features of these two platforms to see which one suits you best:
- Coinbase is a e-wallet LocalCoinSwap is a p2p marketplace, it has a different business model (feel free to read about the differences between e-wallet and p2p marketplace)
- Coinbase had started the business June 2012 LocalCoinSwap started the business December 2017 (coinbase.com is working for 5 years and 6 months longer time).
- coinbase.com has all the required business licenses and permissions LocalCoinSwap is an ordinary company without licenses, etc. (Coinbase's business model is more stable and safer for clients).
- Besides buying and selling cryptocurrencies, coinbase.com provides the following extra services: ATM Cards, Merchant Services and the Staking, MasterNodes, etc. (passive income opportunity) LocalCoinSwap provides us with less services, related to the crypto exchange: it just exchanges cryptos.
- Coinbase supports 21 cryptocurrencies and tokens LocalCoinSwap allows to swap 2 cryptos (LocalCoinSwap works with 19 cryptocurrencies & tokens fewer).
- Coinbase gives the gifts to the customers LocalCoinSwap has neither gifts or cashback available (LocalCoinSwap & Coinbase both provide the same bonuses for customers).
- Coinbase allows registrations from 39 countries; United States is among the supported ones You may register at LocalCoinSwap if you reside in one of 255 countries; it serves United States among others (LocalCoinSwap supports more countries worldwide).
- During the account verification Coinbase usually asks for 2 documents and/or procedures (id verification, phone confirmation) and it takes a day or two in most of the cases User identification at LocalCoinSwap usually consists of some (it depends) different procedures (LocalCoinSwap's KYC policy requires the customer to take less actions or to provide less data).
Although the final decision, which exchange — Coinbase or LocalCoinSwap — is better is up to you, we'll try to help you with the decision. Both exchanges are great, since at least one of them is not yet rated at our platform, we recommend you look at the list above and decide, what is most important for you!
If you feel like need more comparison versus other exchanges, feel free to check these:
LocalCoinSwap vs TransCoin
Let's compare the key features of these two platforms to see which one suits you best:
- TransCoin is a broker LocalCoinSwap is a p2p marketplace, it has a different business model (feel free to read about the differences between broker and p2p marketplace)
- TransCoin had started the business May 2018 LocalCoinSwap started the business December 2017 (LocalCoinSwap operates 4 months longer).
- transcoin.me has all the required business licenses and permissions LocalCoinSwap is an ordinary company without licenses, etc. (TransCoin's business model is more stable and safer for clients).
- TransCoin supports 1 cryptocurrency LocalCoinSwap allows to swap 2 cryptos (LocalCoinSwap additionally works with one extra cryptocurrency).
- TransCoin allows registrations from 255 countries; United States is among the supported ones You may register at LocalCoinSwap if you reside in one of 255 countries; it serves United States among others (LocalCoinSwap & TransCoin support the same number of countries and territories).
- During the account verification TransCoin usually asks for some (it depends) documents and/or procedures User identification at LocalCoinSwap usually consists of some (it depends) different procedures (LocalCoinSwap & TransCoin require the client to pass through the — more or less — the same process during the verification).
Although the final decision, which exchange — TransCoin or LocalCoinSwap — is better is up to you, we'll try to help you with the decision. Both exchanges are great, since at least one of them is not yet rated at our platform, we recommend you look at the list above and decide, what is most important for you!
If you feel like need more comparison versus other exchanges, feel free to check these:
LocalCoinSwap vs Kraken
Let's compare the key features of these two platforms to see which one suits you best:
- Kraken is a trading platform LocalCoinSwap is a p2p marketplace, it has a different business model (feel free to read about the differences between trading platform and p2p marketplace)
- Kraken had started the business July 2011 LocalCoinSwap started the business December 2017 (kraken.com is working for 6 years and 4 months longer time).
- kraken.com has all the required business licenses and permissions LocalCoinSwap is an ordinary company without licenses, etc. (Kraken's business model is more stable and safer for clients).
- Besides buying, selling and exchanging cryptocurrencies, kraken.com provides the following extra services: Mobile wallet, OTC trading, Margin Trading, Futures Trading and the Staking, MasterNodes, etc. (passive income opportunity) LocalCoinSwap provides us with less services, related to the crypto exchange: it just exchanges cryptos.
- Kraken supports 34 cryptocurrencies and tokens LocalCoinSwap allows to swap 2 cryptos (LocalCoinSwap works with 32 cryptocurrencies & tokens fewer).
- Kraken allows registrations from 234 countries; United States is among the supported ones You may register at LocalCoinSwap if you reside in one of 255 countries; it serves United States among others (LocalCoinSwap supports more countries worldwide).
- During the account verification Kraken usually asks for 2 documents and/or procedures (id verification, address confirmation) and it takes a day or two in most of the cases User identification at LocalCoinSwap usually consists of some (it depends) different procedures (LocalCoinSwap's KYC policy requires the customer to take less actions or to provide less data).
Although the final decision, which exchange — Kraken or LocalCoinSwap — is better is up to you, we'll try to help you with the decision. Both exchanges are great, since at least one of them is not yet rated at our platform, we recommend you look at the list above and decide, what is most important for you!
If you feel like need more comparison versus other exchanges, feel free to check these:
LocalCoinSwap vs EXMO
Let's compare the key features of these two platforms to see which one suits you best:
- EXMO is a trading platform LocalCoinSwap is a p2p marketplace, it has a different business model (feel free to read about the differences between trading platform and p2p marketplace)
- EXMO had started the business May 2013 LocalCoinSwap started the business December 2017 (exmo.me is working for 4 years and 7 months longer time).
- exmo.me has all the required business licenses and permissions LocalCoinSwap is an ordinary company without licenses, etc. (EXMO's business model is more stable and safer for clients).
- Besides buying, selling and exchanging cryptocurrencies, exmo.me provides the following extra services: Cash codes, OTC trading and the Margin Trading LocalCoinSwap provides us with less services, related to the crypto exchange: it just exchanges cryptos.
- EXMO supports 24 cryptocurrencies and tokens LocalCoinSwap allows to swap 2 cryptos (LocalCoinSwap works with 22 cryptocurrencies & tokens fewer).
- EXMO allows registrations from 255 countries; United States is among the supported ones You may register at LocalCoinSwap if you reside in one of 255 countries; it serves United States among others (LocalCoinSwap & EXMO support the same number of countries and territories).
- During the account verification EXMO usually asks for 3 documents and/or procedures (id verification, address confirmation, selfie) and it takes a day or two in most of the cases User identification at LocalCoinSwap usually consists of some (it depends) different procedures (LocalCoinSwap's KYC policy requires the customer to take less actions or to provide less data).
Although the final decision, which exchange — EXMO or LocalCoinSwap — is better is up to you, we'll try to help you with the decision. Both exchanges are great, since at least one of them is not yet rated at our platform, we recommend you look at the list above and decide, what is most important for you!
If you feel like need more comparison versus other exchanges, feel free to check these:
Conclusion: is LocalCoinSwap legit or scam?
Now it's time to draw a conclusion, is localcoinswap.com a scam or is it a legit exchange? We hadn't yet collected enough testimonials to assign LocalCoinSwap a rating, but according to our research it should be a good exchange. We have found no evidence that this p2p marketplace is a scam so it should be save to deal with. Let's summarize what we like most (and what we don't) about the LocalCoinSwap:
- Although it has no financial licenses, etc. such a business model complies with the regulation
- This p2p marketplace doesn't hold customers' funds, the trades are realized in a trustless "non-custodial" manner
- This company has being in the business for a long time; exchange was started 6 years and 11 months ago
- Exchange supports 2 cryptocurrencies
- LocalCoinSwap allows registrations from 255 countries; people from United States may use the service