Coinbase vs Localbitcoins
Name
Go to Exchange
PROS
CONS
- Deposit insurance;
- There is a very convenient cryptocurrency wallet;
- The availability of mobile applications for iPhone and Android for the wallet;
- Profitable referral program;
- The exchange operates only in countries that do not prohibit the cryptocurrency of the law, which at one point excludes the fact of its sale from any local market.
- If you suspect that your account was hacked, Coinbase phone number is available for you in 24/5 mode.
- Coinbase support allows you not to answer questions for a long time (it is more likely due to colossal employment) of the company's employees because of the "influx" of new customers and problems;
- It is difficult to pass verification, which reveals every client as a person (the main advantage of cryptocurrency is anonymity);
- Coinbase tracks all your activity and it will ban you from making some transfers (transactions related to adult services, bitcoin gambling, trading contraband through darknet markets, reselling coins on other exchanges, especially without AML / KYC)
- The reliability of the exchange;
- A huge number of payment options;
- Large trading volumes;
- Support for more than 250 countries;
- Low commission of 1% from the person who placed the order;
- LocalBitcoins app for smartphones;
- The highest anonymity;
- There are no trading limits;
- Good support and site forums;
- An opportunity to choose the seller/buyer.
- The presence of only one cryptocurrency - Bitcoin;
- Possibility of user’s fraud;
- Availability of returnable payment methods (for example, LocalBitcoins PayPal);
- The speed of the trade depends on the method of payment (however, most transactions on the site are done within 15 minutes);
- The cost of Bitcoin depends on the chosen method of payment (not including the commission of the site).
