Many people use peer-to-peer crypto marketplaces rather than centralized crypto exchanges.
This is because P2P crypto exchanges support payment methods that traditional crypto exchanges do not.
LocalBitcoins Overview
LocalBitcoinsis a leading P2P marketplace for trading Bitcoin.
It is a global marketplace for anyone to buy or sell Bitcoin using various payment methods.
Unlike Paxful, though, LocalBitcoins only supports the trading of Bitcoin and not any other crypto asset.
LocalBitcoins is globally availableand can be accessed from any part of the world where its use is supported.
Like Paxful, LocalBitcoins is also available in most countries of the world.
Overall though, Paxful has more coverage than LocalBitcoins, so it is better in this regard.
For both Paxful and LocalBitcoins, registering, buying, and selling assets is completely free of charge.
However, the sellers decide the rates, which are usually higher than the market rate of the assets.
Note that the rates for buying Bitcoin are generally lower on Paxful than on LocalBitcoins.
For both marketplaces, on-platform transactions are free.
you’re free to see the sender’s fee on the wallet page in both cases.
We advise moving your assetsto a secure cold walletas soon as you acquire them to avoid possible losses.
Both platforms also deal with verified users only.
In addition, your trading rates depend on how trustworthy you are in terms of verification and trading record.
If you have a poor rating, those offering the best fees may choose to refuse your trade offers.
This makes them commit to the trade and reduces the chance of fraud.
All this helps to secure the marketplace.
If this happens, you need responsive customer support to resolve an issue.
Paxful has many methods of reaching its support team, including email and social media handles.
Therefore, in terms of customer support, Paxful wins.
It has more assets and is available in the US and other major countries where LocalBitcoins isn’t available.
you’re free to also trade Ethereum and USDT in addition to Bitcoin, making it more flexible.
