Launched in May 2017, Liberalcoins is a P2P trading platform for BTC and Altcoin aiming to introduce a more localized trading solution while becoming a major competitor for LocalBitcoins. With Liberalcoins, users can trade different cryptocurrencies for various payment methods and transact both locally and internationally. To ensure funds security, the platform has a built-in escrow system.
Since its launch, Liberalcoins has improved its interface, making the platform fairly easy to use for anyone. However, the exchange is only recommended to those who fully understand how P2P trading systems work. Also, as with any hot storage exchange, it would be safer to use the wallets provided by the platform for transacting and not for keeping long term savings.
- European Union
- Hong Kong
- Most Africa
- Most of Asia
- Most of Eastern European Union
- Most of Latin America
- Most of the Middle East
- New Zealand
- Russian Federation
- United Kingdom of Great Britain and Northern Ireland
- United States of America
- Web Interface
Liberalcoins security levels are exceptionally high. They offer 2FA and a withdrawal white list option. They use an elastic multi-stage wallet strategy ensuring that 80-90% of funds are kept offline and secure. Also, for withdrawals, users are required to pass an enhanced verification process providing proof of the validity of their identification documents.
- Protection from DDoS attackes
- Regular Auditing Programs
Liberalcoins Incorporated is a company founded by Simon Lange and registered on the British Virgin Islands, an established UK dependency chosen for reducing bureaucracy. Their official site also mentions Allan Lange as CFO, but other than that there is little information about the team. They do state that the exchange is focused on users' privacy and security.
Liberalcoins stands out through its aim of providing a balance between security and privacy, as the two sometimes conflict. By having the business registered in BVI and servers located in the Isle of Man, Liberalcoins boasts top data protection and appeals to traders who care about privacy. However, hot storage might put off users who want to trade large amounts at once.
Send/Receive Crypto, FIAT payments are agreed between users and don't involve the platform
Liberalcoins acts as a bridge between buyers and sellers. The platform itself only supports crypto coins, but peers can agree upon any method of payment, from wire deposits and various electronic systems to physical cash and even Amazon GiftCards. The exchange is rather new and local trading is determined by whether there are registered traders in your geographical area or not.
Poor customer support