It is with sadness that we learn of the closure of a long-standing service within the P2P Bitcoin (BTC) community. The OG bitcoin exchange platform, LocalBitcoins, is closing down.
LocalBitcoins.com closure after over 10 years of service
In a press release published on 9 February 2023, LocalBitcoins announced that it was “ceasing its service“. As of this date, new registrations are stopped. In one week, on February 16 2023, all exchanges will be stopped. All operations on the platform’s wallets will also be suspended on that date. Except for withdrawals, which will remain possible for 1 year.
The best alternative to Local Bitcoins
If you would like to continue trading bitcoin online, there are some good alternatives to Localbitcoins. The best one is called AgoraDesk, also known as LocalMonero. This exchange platform is very similar to Local Bitcoins and allows you to buy and sell bitcoins. You are also able to buy or sell Monero there.
What are the best advantages of Agora Desk ?
Like LocalBitcoins, this exchange platform to buy and sell bitcoins has many similar features.
- No KYC or verification needed
- Large choice of payment methods to sell
- Trusted exchange platform by the community
- No deposit fee and fair withdrawal fee
- Fast customer service
- Excellent fraud prevention
Why is LocalBitcoins closing down ?
In their statement published on their official website and Twitter. Localbitcoins mentioned that the closure is due to several reasons including the decline to their volumes and market share during this very cold crypto-winter.
Among the reasons for the company’s plunge was the massive collapse of Bitcoin during 2022 and the lack of investors scared by the crisis and bankruptcies.
— LocalBitcoins (@LocalBitcoins) February 9, 2023
It is truly the end of an era.