LocalCryptos: An alternative to Paxful & Localbitcoins

[logfiles]

What do you mean - scam? Mayby https://bustadice.com/?utm_source=bct&utm_medium=signature&utm_content=16e81bef is a scam? Do you have any proofs that link in your profille is not a scam?

Your trust ratings say it all. You are a scammer and nobody should take any trade related advice or visit any suspicious links shared especially from you. Your intention is to scam and nothing else.

If you have any credible scam accusation against bustadice, feel free to head over to the scam accusations board.

[LeGaulois]

The link he posted is just a referral link I believe. He was probably trying to spam here and there in the forum. Not really a suspicious link but rather a spam. No big deal, it just needs to be reported to mods

[figmentofmyass]

1. LocalBitcoins also started without KYC, until they built up liquidity and user database to turn over to governments upon request. Has LocalCryptos promised anywhere in writing that they will close rather than ever do that, considering they are under Australian laws, which are some of the most draconian crypto laws in the developed world?

but how does australia regulate non-custodial services?

i wouldn't believe any promises like that anyway. centralized services without KYC are never guaranteed to last. localcryptos can't freeze your funds in the meantime---that's what matters.

2. It's really not non-custodial, because one has to send funds into the LC wallet to trade. How does giving the user the private key mitigate LC being hacked and the hackers also getting everyone's private keys there?

you're not sending funds to a centralized wallet operated by localcryptos. that is your own non-custodial wallet in the interface that you are funding. localcryptos is never a party to any transaction.

[OmegaStarScream]

2. It's really not non-custodial, because one has to send funds into the LC wallet to trade. How does giving the user the private key mitigate LC being hacked and the hackers also getting everyone's private keys there?
(By contrast with HodlHodl, HH is really non-custodial, because the user send funds directly into the active trade's escrow.)
-snip-

As said above, the wallet is created locally, and if you lose your credentials, there is no way to recover the funds.

But if you're paranoid about the "wallet creation" process, you can simply connect your Ledger device or MetaMask and use your funds directly. That way, you won't have to deposit anything on their platform.