LocalCoinSwap

What do you like best?

First of all, if you are new to bitcoin and other cryptocurrencies you would like to have a clear step-by-step platform where you can do what you need. LocalCoinSwap offered me exactly that. We could say that their processes inside the platform are pretty well structured, so it's easy for a newbie to go through them.

More over, it is a P2P platform, so it lets you trade directly with another people.

Another good thing is that they protect you while trading. As we might know, in the crypto world there are many scammers, but LocalCoinSwap protects you against them through their alerts on the platform and the escrow service they offer. Basically an escrow service is a mechanism that retains the amount of bitcoin or crypto the sellers accepted to trade with the buyer until the buyer's paid the seller. The great thing here is that LocalCoinSwap uses scripts for bitcoin and smart contracts for ETH and ERC20s tokens such as Dai, Tether, and more.

They are Non-Custodial. This mind go unnoticed to a lot of people, but this means that you could buy and sell bitcoin directly from wallet to wallet making it more secure!

What do you dislike?

I use this plaform for quite some time now. At first they were couple things I wish they were better. Since LocalCoinSwap is a Non Custodial P2P platform that is obssesed with security and protecting the data of their customers, the registration processes even though was fast, it was a little bit weird. At least it was kind of different from other registration processes I was used to not only in the crypto space but in my general traditional experience. The great thing is that now LocalCoinSwap made an update of their registration flow and it works very smoothly. It's fast, straightforward. Basically, it doesn't bother you to register.

Another thing I used to dislike was that there weren't many people selling bitcoin or ther cryptocurrencies in my country. Since I was using the platform when they were fairly new, it is totally understandable. A good thing about this is that they quickly started to bring the attention of big traders in key countries and it's easy to find good prices in bitcoin on the platform. I see that they are onboarding more traders from famous platforms and to me that's a great sign.

Recommendations to others considering the product:

My recommendations would be to always follow the instructions in the platform. They do a great job to protect yourself while you trade with other people.

Another thing would be never ever send your crypto before it is escrowed. This would definitely protect you against any bad trader.

Remember that you could create offer without crypto on the platform. That give you a lot of freedom and that LocalCoinSwap never is in custody of your crypto as other platforms are.

What problems are you solving with the product? What benefits have you realized?

There are many problems/necessities I'm able to solve thanks to LocalCoinSwap service. We solve the "Buying bitcoin with Local Currency" issue. In the crypto world, it's hard to find places where you could buy crypto with your local currency. At LocalCoinSwap you can buy with pretty much any local currency you'll need.

Using pretty much any payment method I need, it's super powerfull. Using a popular payment method in my country make me buy bitcoin without paying high fees to the payment company such as the 3-4% additional commision PayPal charges.

Buying Ethereum, Polkadot, Dai, Tether, Dash, and more P2P. I don't like to trust my crypto to anybody that is why I like that LocalCoinSwap is Non-Custodial. They don't hold you crypto at any moment as other platforms do.