Litecoinlocal

Litecoinlocal

Litecoinlocal
In Social Media:
Very basic Ease of use,  Enough secure,  Anonymously trading

Litecoinlocal is a peer to peer trading platform that connects buyers and sellers in over 100 countries without the need of a centralized bank account. The exchange acts as an escrow service and is designed for users who are willing to trade Litecoins with other users in their close proximity without too much of a hassle.

The exchange platform can be used by anyone regardless of technical capacity. The process is simple and Litecoinlocal provides all the resources in order for the trade to take place as fast as possible. Registering, buying, and selling Litecoin is completely free. The users who create advertisements are charged a 1% fee for every completed trade.

Crypto Currencies Support

Traditional Currency Support

  • Bulgarian Lev (BGN)
  • Canadian Dollar (CAD)
  • Croatian Kuna (HRK)
  • Danish Krone (DKK)
  • Euros (EUR)
  • Hong Kong Dollar (HKD)
  • Hungarian Forint (HUF)
  • Indonesian Rupiah (IDR)
  • Japanese Yen (JPY)
  • South Korean Won (KRW)
  • Swiss Franc (CHF)
  • US Dollar (USD)

Language Support

  • English

Country Support

  • Australia
  • Canada
  • China
  • European Union
  • Hong Kong
  • Japan
  • Most Africa
  • Most of Asia
  • Most of Eastern European Union
  • Most of Latin America
  • Most of the Middle East
  • New Zealand
  • Norway
  • Russian Federation
  • Singapore
  • Switzerland
  • Turkey
  • United Kingdom of Great Britain and Northern Ireland
  • United States of America

Platforms Systems

  • Web Interface

Litecoinlocal 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.

Summary:

2 Factor Authentication
Yes
Funds Insured
Funds are not insured
Private Keys Stored On
Exchange platform
Storage Type
Hot storage

The platform was founded in 2014 and is managed by a team of two experienced web developers. The offer support under two nicknames Someguy123 and Kale (kryogenic). They suggest users get in contact with them with any questions or doubts regarding a buyer or a seller.

Summary:

Although there have been reports about scam allegations between users, Litecoinlocal provides a decent service overall. This platform may be a good option for those who want to perform fast Litecoin transactions, but should be treated with a caution since the developers behind the platform insist on total anonymity. Also, users should be advised not to store large amounts of LTC here.

Ease of use
Very basic
Transaction Fees
0.01
Deposit/Withdrawal Fee
N/A
Deposit/Withdrawal Fee c For Bank Transfer
It's free (fees may be hidden)
Deposit/Withdrawal Fee For Credit Card
N/A
Deposit/Withdrawal Fee Charged For 3rd party Payments
It's free (fees may be hidden)
Anonymous Trading
Yes

Deposit/Withdrawal Options:

Deposit from bank account, Deposit using 3rd party, Withdrawl funds to bank account, Withdrawal funds through a third party

Functionality:

Litecoinlocal.net also offers an over-the-counter (OTC) trading option. Sellers can create their own trading ads by providing their location, payment method, accepted currencies, and minimum/maximum sale amounts. The platform offers all the trading information needed and provides a chat window so buyers can talk to sellers. A transaction takes around 20 minutes to be confirmed.

Most common
customer complaint:

Issues receiving refunds, buyers getting scammed transactions