LocalBitcoins, one of the oldest and best-known Bitcoin exchanges, is closing after a decade of service, with the peer-to-peer platform citing the “ongoing very cold crypto-winter” as the reason for stopping operations.
The marketplace, which launched in 2012, allows users from 189 countries to trade Bitcoin by matching buyers with sellers and holding the cryptocurrency in escrow until both parties confirm the transaction—assuring no funny business with dodgy traders.
But now with it shutting up shop, what other P2P exchanges can you use? A P2P service means that the two parties interact directly with each other on their own terms without the need for third-party involvement.
Although LocalBitcoins is remarkably efficient and easy-to-use, other platforms exist. The following platforms provide a similar service that will allow you to interact directly with buyers or sellers to get a good price for your sats (or other digital assets.)
Binance
The world’s biggest crypto exchange has a P2P section where users can buy or sell a number of cryptocurrencies—including Bitcoin, Ethereum, Tether, and Binance Coin. Just like LocalBitcoins, the prices of the assets are labeled lowest to highest and users can interact directly with sellers from over 40 countries.
The service is very easy to use and quick—just like when spot trading on the platform, and the service offers more payment methods than LocalBitcoins (though it lacks some of what LocalBitcoins offers, such as PayPal.)
Paxful
Paxful is one of the most popular P2P Bitcoin exchanges. The platform offers over 350 ways to buy and sell Bitcoin, and offers users a Bitcoin wallet.
The exchange also allows buyers and sellers to choose the location they want to shop in, the amount they want to spend, and if they want to make a
