Bitcoin exchanges are quite popular with the cryptocurrency traders who want to make quick profits by trading on the different altcoins. The buyers as well as the traders often agree on set trade terms where the Bitcoin exchange is often used as the escrow. LocalBitcoins is one such exchange that offers several opportunities to its users to not only exchange cryptocurrencies but also buy Bitcoins. In fact LocalBitcoins is the oldest cryptocurrency exchange in the world, based in Finland. This is a peer-to-peer Bitcoin exchange, wherein the traders are able to buy or sell Bitcoins by locating the local Bitcoin traders.
The best thing about LocalBitcoins is that here the users don’t have to furnish personal information while engaging in trades. However, this is not the case with the other exchanges as almost every exchange needs personal information or ID verification of the users. You don’t even have to connect your name to Bitcoins you intend to buy. The Bitcoins are available depending on your payment method. For instance, people paying in cash will be delivered their Bitcoin within 1 hour as the cash trades are easier and quicker to organize.
Traders need to be really cautious while dealing with the first time users or the ones with poor feedback because the chances of losing your Bitcoins are quite high in such cases.
- If you’re looking for private methods to buy Bitcoins then LocalBitcoins is the best option
- LocalBitcoins is the only place to buy Bitcoins in some of the countries
- Users are able to use a variety of payment methods to buy Bitcoins
- There are no Buying or even selling limits in LocalBitcoins
- The market is full of scams so it’s important to be cautious
- The fees are on the higher side, especially when someone decides to buy using cash
- For higher amount of purchase or trade, users will have to furnish IDs
- It’s not available in Germany and New York
LocalBitcoins has quite a high fee as it charges 1% for every transaction. However, the prices can be higher depending on the method of payment used by the traders. The customer support offered by LocalBitcoins is not very good as one can expect get support only via email. Now, this can be a bit problematic for people who don’t trade on a regular basis as they will have to wait for long before their issues are resolved.
LocalBitcoins Affiliate Program
The affiliate program offered by LocalBitcoins is fairly straightforward wherein the affiliate partners are paid in Bitcoins. All the payments are made to the LocalBitcoins wallet of the affiliate partner. Every referral rewarded with a 20% commission on the trading fee charged by LocalBitcoins. This is a great affiliate program for Bitcoin Affiliate marketers who want to gain a quick foothold in the market.
Commissions Rate: 20% for trading fee
Payout Frequency: Monthly
Minimum Eligibility for Payout: 0.1 BTC
Referral Reports: Partial.
LocalBitcoins Affiliate Review
Despite some negative reviews floating around about these guys they seem to have a pretty extensive and reliable platform, especially if you are looking for options and anonymity.