What after localbitcoins.com shutting down

[talkoncrypto Official]

So today we have a news that localbitcoins.com is shutting down

Source https://decrypt.co/120933/localbitcoins-shut-down-10-years-operation

Now people are in dilemma that how they can continue their trading, as localbitcoins is one of the exchange which set a benchmark in crypto space,

So i just wanted to tell you that you guys can use/try coinbaazar.com , which is indeed there and is one of the most reliable and secure crypto marketplace in the world.

Before pouring your comments i would really recommend please take a look at it ...

https://coinbaazar.com

Bitcoin Miami22 - https://www.youtube.com/watch?v=jEcKE6DzwvE&t=203s

https://twitter.com/coin_baazar



you can always DYOR...

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[PX-Z]

After localcryptos now localbitcoins, that's sad to hear, most p2p users need to find and new platform where to trade well at least new reputed one. Although LBC become shitty due its KYC regulation it will not replace how reputed the site is. Now i hope more users will embrace bisq and hodl hodl for p2p purposes.

Here's the direct link of the closure anouncement^[1]

[1] https://localbitcoins.com/service_closure/

[LeGaulois]

Blaming the crypto winter.... great job!

The truth is that they started to die when they were forced to introduce KYC rules.
Since it was one of the reasons people traded there, they moved to another place
The same goes for localcrypto and a regulatory development that can take place when your company grow up.

It's called the Darwin's theory. Only the best survives  

[Charles-Tim]

The truth is that they started to die when they were forced to introduce KYC rules.
Since it was one of the reasons people traded there, they moved to another place

You can trade on Binance before without KYC, but Binance had no option than to make KYC mandatory. Yet, Binance remain as the exchange with the highest trading volume. Although, some people that are concerned about KYC left the exchange at the time. Jeremias Kangas founded Localbitcoins in mid 2012. 2022 crypto winter wasn't the first, that makes your post valid, but regardless of what happened, it is still about the survival of the fittest, but not necessarily about KYC as well if other things has been in place. Although, I am not disputing the fact that KYC could have been the reason for the start of Localbitcoins collapse.

[talkoncrypto Official]

The truth is that they started to die when they were forced to introduce KYC rules.
Since it was one of the reasons people traded there, they moved to another place

You can trade on Binance before without KYC, but Binance had no option than to make KYC mandatory. Yet, Binance remain as the exchange with the highest trading volume. Although, some people that are concerned about KYC left the exchange at the time. Jeremias Kangas founded Localbitcoins in mid 2012. 2022 crypto winter wasn't the first, that makes your post valid, but regardless of what happened, it is still about the survival of the fittest, but not necessarily about KYC as well if other things has been in place. Although, I am not disputing the fact that KYC could have been the reason for the start of Localbitcoins collapse.

Well this is what i was about to say... that only KYC could not be the only reason and even the crypto winters... The only reason i could find valid is they never made changes but then again they have been doing business all this while,... so possibly i think the owners have been fed up of the things going on... they have been legit all the time ... and that could be the only reason they have left the crypto space...

[Woodie]

After localcryptos now localbitcoins, that's sad to hear, most p2p users need to find and new platform where to trade well at least new reputed one.
[1] https://localbitcoins.com/service_closure/

Never saw the localcryptos news closure, but localbitcoins shutting down is throwing away so much history right here, and I kind of blame them here because their business concept has never evolved with changing times. With so many cryptos on the market they heavy relied on serving bitcoin traders which become Obsolete with the coming of a Dex and many other centralized exchanges.

I guess localbitcoins has run its race and its time for others to continue were they left... Whose next to go, paxful

[hugeblack]

It's been several years since I last used them but I'm sad to see such an advertisement, they don't give any details about the reason for the shutdown and blaming Crypto Winter seems like a nonsensical argument.
Does anyone know more details and whether it is related to a regulator or exposure to bankrupt platforms?

for those who will search for alternative you can try ---> https://localcoinswap.com/

[logfiles]

So today we have a news that localbitcoins.com is shutting down

Does it matter? Well it doesn't matter to me because I stopped trading with them when they went full KYC

Now people are in dilemma that how they can continue their trading, as localbitcoins is one of the exchange which set a benchmark in crypto space,

You couldn't wait for this moment to shill your coinbaazar exchange, could you?

If you think some of us have forgotten, then you are wrong... Your very first posts say a lot about your intentions here

Blaming the crypto winter.... great job!

The truth is that they started to die when they were forced to introduce KYC rules.
Since it was one of the reasons people traded there, they moved to another place

Perfect!

I am one of the people who abandoned my high trading volume account on localbitcoins after their dicky KYC rules

[stompix]

You couldn't wait for this moment to shill your coinbaazar exchange, could you?

I've once read that hyenas are very patient, seems like the humanoid type can't even half a day before trying to get a bone, even if the victim is still moving.
I knew the name looks familiar, no surprise:

Second, when checking the forum about "coinbaazar" in the last year there are only your posts and your previous sockpuppets topics , 3$ for sending my details to some shady LLC that uses 10$ fiverr videos to promote itself as some reliable company, no way.
Btw, I've seen this guy in 20 videos by now, is he that cheap?

The exchange with sockpuppets bumping a dead topic, a Fiverr presentation, and photoshopped pictures did I forget something?

It's been several years since I last used them but I'm sad to see such an advertisement, they don't give any details about the reason for the shutdown and blaming Crypto Winter seems like a nonsensical argument.
Does anyone know more details and whether it is related to a regulator or exposure to bankrupt platforms?

It's not about exposure, is dying volume overall,  far more competition and getting things even more complicated is the fact that they were dealing in BTC only, buttimes have changed and more users with a ton of coins want to swap in every kind of token, not something they built their business for.

[PX-Z]

Never saw the localcryptos news closure..

Here's their annoucement^[1] and a forum thread discussion^[2]

for those who will search for alternative you can try ---> https://localcoinswap.com/

Never heard that this is a reputable site, but the way it is recommended might be need a try.
Checked it but didn't see if they required kyc or not.

[1] https://blog.localcryptos.com/after-5-years-localcryptos-is-saying-goodbye/
[2] https://bitcointalk.org/index.php?topic=5418010.new

[talkoncrypto Official]

You couldn't wait for this moment to shill your coinbaazar exchange, could you?

I've once read that hyenas are very patient, seems like the humanoid type can't even half a day before trying to get a bone, even if the victim is still moving.
I knew the name looks familiar, no surprise:

Second, when checking the forum about "coinbaazar" in the last year there are only your posts and your previous sockpuppets topics , 3$ for sending my details to some shady LLC that uses 10$ fiverr videos to promote itself as some reliable company, no way.
Btw, I've seen this guy in 20 videos by now, is he that cheap?

The exchange with sockpuppets bumping a dead topic, a Fiverr presentation, and photoshopped pictures did I forget something?

It's been several years since I last used them but I'm sad to see such an advertisement, they don't give any details about the reason for the shutdown and blaming Crypto Winter seems like a nonsensical argument.
Does anyone know more details and whether it is related to a regulator or exposure to bankrupt platforms?

It's not about exposure, is dying volume overall,  far more competition and getting things even more complicated is the fact that they were dealing in BTC only, buttimes have changed and more users with a ton of coins want to swap in every kind of token, not something they built their business for.

I don't know about you, but yes i can presume its far better than exchanges like FTX and others ... Moreover about the videos i seriously dont care ... 2ndly they have been there since long ... its not that they popped out overnightly.. so before you can misguide someone.. with your negative comments, rather than giving a try urself ... dont act as a spectator, be a player than probably your comment would matter..

[hugeblack]

It's not about exposure, is dying volume overall,  far more competition and getting things even more complicated is the fact that they were dealing in BTC only, buttimes have changed and more users with a ton of coins want to swap in every kind of token, not something they built their business for.

Nevertheless, it is still a platform with good trading volumes, it provides flexible payment options in many countries that do not use well-known payment methods, or at least they cannot buy in traditional ways.

I do not have charts for trading volumes, but the platform seems profitable, perhaps their profits decreased and therefore they preferred to stop rather than the platform dying, but the advertisement is somewhat strange.

[darkangel11]

Blaming the crypto winter.... great job!

The truth is that they started to die when they were forced to introduce KYC rules.
Since it was one of the reasons people traded there, they moved to another place
The same goes for localcrypto and a regulatory development that can take place when your company grow up.

It's called the Darwin's theory. Only the best survives  

That's it! I have a friend who used to be a trader there and you could even request him to drive to your home and exchange at your place. He was making decent money, but resigned in 2019 after they've aded KYC. He said the number of clients dropped by 50% after that and he wasn't making enough.
He ended up putting his own ATM in a nearby shopping center where you could withdraw without limits and no KYC.

It's funny they're blaming market conditions where really the condition of their own company is the source of the problem.

[ParticlAccelerator]

There is a KYC free alternative to local bitcoins. It's called Particl marketplace. It's an anonymous yet trustless marketplace (particl.io). You can pay for any goods or services there including bank transfers, there is someone listing monero for sale there currently, but you can also get bullion, cash in the post and bank transfers.

Particl also has a fully decentralised and trustless cross blockchain atomic swap exchange (basicswapdex.com). The developers are currently integrating the exchange directly into the marketplace so that you can pay in pretty much any cypto. So it's not so much a local bitcoins replacement as an "any crypto" to fiat, bullion and cash in the post replacement.

The exchange is proving very popular with the monero community who have been extensively testing it and are considering including it as a plugin with their default wallet so any monero user can access the exchange as well.

Here is a neat video on it: https://youtu.be/1gYNX4ue_O4

[DaveF]

Anyone who needs a replacement for LBC can go to: https://kycnot.me/ and pick the one that works for them.

I have been off LBC for a while, but as I pointed out elsewhere, a lot (most?) people who had regular trading partners know how to contact them in other ways.
It's just a bit more newsworthy because it's the 2nd one in a short period of time. But, as with many things others will take it's place if they can figure out how to make a profit on it.

-Dave

[stompix]

dont act as a spectator, be a player than probably your comment would matter..

Exactly what I'm doing, not acting as a spectator and reminding people what kind of hyena is now spamming around here

There is a KYC free alternative to local bitcoins. It's called Particl marketplace.

LB was an exchange, not a marketplace, the two are completely different.
LB was used exactly because it was easy to deal with it, you would just look at the prices, decide from who to buy and which method, and at least here in EU with instant national transfers you could get your coins or funds in minutes and finish the trade.
That's why some don't get why other solutions are not getting traction, as the situation is now fewer people care more about privacy than about how fast and easy things can be done, that's why Bisq has dozens of traders and Biance p2p thousands.

I do not have charts for trading volumes, but the platform seems profitable, perhaps their profits decreased and therefore they preferred to stop rather than the platform dying, but the advertisement is somewhat strange.

Most likely.
https://coin.dance/volume/localbitcoins/ALL
Their volume went down as BTC went down, from the 45 mils a week to 6 mils a week, at some point maybe the profit from it simply doesn't make sense anymore and you're better off just quitting. Assuming they are getting 1% of all that volume it would be $3 mil a year, with 50-100 highly paid employees in Europe as they claim just the wages and taxes and rent would drive that to almost zero. If he's an early adopter probably he has 100x more than what would be left over a year stashed in BTC already.

[Lucius]

You can trade on Binance before without KYC, but Binance had no option than to make KYC mandatory. Yet, Binance remain as the exchange with the highest trading volume. Although, some people that are concerned about KYC left the exchange at the time. Jeremias Kangas founded Localbitcoins in mid 2012. 2022 crypto winter wasn't the first, that makes your post valid, but regardless of what happened, it is still about the survival of the fittest, but not necessarily about KYC as well if other things has been in place. Although, I am not disputing the fact that KYC could have been the reason for the start of Localbitcoins collapse.

It is not very logical to compare LB, which was a Bitcoin exchange, with that CEX, which achieves its trading volume thanks to countless shitcoins, its own token and the fact that CZ, like all Chinese, has learned very well how to fake trading volume. If some kind of internal audit entered their system, I wouldn't be surprised if their actual numbers are at least 30% less than what we see in public - but when you buy CMC as one of the most popular crypto sites, then you can very easily build an image that you are best.

If he's an early adopter probably he has 100x more than what would be left over a year stashed in BTC already.

After 10 years, I wouldn't be surprised if the man decided that he had enough money to end the whole thing and maybe devote himself to some new challenges. Some are surprised by this, as if a person has committed to providing a service for life, and how many people have been active on this forum for 10 or more years - or how many will be there in 10 years?

[The Cryptovator]

It appears that peer-to-peer trading opportunities are decreasing. It constitutes a risk to us if a well-known P2P exchange closes. Because peer-to-peer trade is replacing centralized exchange like Binance is currently conducting significant p2p trade. There would be other exchanges opening up for peer to peer trading. However, LocalBitcoin was a realizable P2P exchange. I don't see why a peer-to-peer exchange would shut down. I'm not certain, but I'll guess it's just for a little enforcement.

[LTU_btc]

Damn, that's really sad news. I don't use their platform, but I remember them from my early days in crypto and how big they were back then. Basically, everyone who was in crypto, knew their platform. What I can say, end of another era.
Probably crypto winter is main reason behind closure, their volumems went down significantly. But regulations didn't helped them either. Introducing KYC had direct impact why their trading volums went down and platform stopped giving profit.

[boyptc]

I've used them years ago and then never used them anymore when I've seen that my needs can be found in the popular exchanges these days.

It's sad to see that some big known P2P will have to go. I'm now having the idea that the other of the same service might also announce their official closure soon.

Yeah, every time there's a closure it's all about the bear market that seems to be the big catalyst and where the blame is being point to.