P2P Exchanges Since 2012 Reviewed 22 Oct 2026

LocalBitcoins is closed

Pioneering Finnish P2P bitcoin marketplace, closed in 2023

Closed

Status

No longer operating

Closure announced on 9 February 2023; the official site states the trading service is closed.

See alternatives

LocalBitcoins review in short

LocalBitcoins was a P2P exchange and is no longer operating. Closure announced on 9 February 2023; the official site states the trading service is closed.

Category: P2P Exchanges
KYC level: 4 of 4: ID mandatory
Sign-up: Email required
Custody: custodial
Jurisdiction: Finland
Incidents on record: 1
Last reviewed: 22 Oct 2026

Cite this review

NoKYC Score, "LocalBitcoins review", reviewed 22 Oct 2026, https://nokycscore.com/service/localbitcoins

Also available as plain text.

What LocalBitcoins is

LocalBitcoins, operated by LocalBitcoins Oy in Finland, was one of the earliest peer-to-peer bitcoin marketplaces and for years the default way to buy bitcoin with cash or local payment methods. Under Finnish regulation it introduced mandatory identity verification well before it closed. The company announced on 9 February 2023 that it would discontinue the service, citing market conditions. The official site still carries a notice that LocalBitcoins Oy has closed its bitcoin trading service and that remaining funds can be withdrawn by logging in. It is listed here for reference and for alternative searches.

What LocalBitcoins offers, and what to watch

3 of 16 privacy and safety features, 3 warnings in its terms.

"Not stated" means its own pages do not say.

Identity

ID never required No
No account needed No
No email needed No
No phone number Not stated

Payment

Accepts Monero Not stated
Accepts Lightning Not stated
Accepts cash Yes Cash by post or in person: no bank and no blockchain record.

Access

Tor onion address Not stated
Works without JavaScript Not stated

Trust

Never holds your funds No
Refund without ID Not stated
Escrow it cannot spend alone Not stated
Open source Not stated
Independent audit Not stated
Company named Yes The operating company and its jurisdiction are published.
5+ years operating Yes Has operated continuously for five years or more.

Warnings

May ask for ID Yes The terms reserve the right to demand identity documents, often after a risk flag.
Screens deposits Not in terms
Holds your funds Yes The operator controls user funds while they are on the platform.
Email required Yes An email address is required to use the service.
Phone number required Not in terms
Closed source Not in terms
Nobody accountable Not in terms

Incidents on record

9 Feb 2023

high

Shutdown

Announced discontinuation of its bitcoin trading service

LocalBitcoins announced on 9 February 2023 that it would discontinue its peer-to-peer bitcoin trading service after about a decade, citing difficult market conditions. Trading was suspended shortly afterwards and users were given a period in which to withdraw their bitcoin. The official site still states that LocalBitcoins Oy has closed its trading service and that remaining funds can be withdrawn by logging in to an existing account.

Service closed Source: cointelegraph.com ↗

User reviews

Reviews never change a grade. Reviews with a transaction reference are marked.

No reviews yet.

What to use now that LocalBitcoins is gone

All alternatives →

Bisq

Open-source desktop P2P exchange for bitcoin with no registration

Privacy 9.3

Safety 8.0

Haveno

Open-source protocol for non-custodial Monero trading over Tor

Privacy 9.2

Safety 7.3

Mostro

Open-source P2P bitcoin trading protocol over Nostr and Lightning hold invoices

Privacy 8.9

Safety 7.3

Peer

P2P fiat on/off-ramp settling through smart-contract escrow and payment-app proofs

Privacy 7.3

Safety 7.0

LocalBitcoins: common questions

Is LocalBitcoins still operating?

No. Closure announced on 9 February 2023; the official site states the trading service is closed. See the alternatives listed on this page.

Listing history

12 Oct 2026 Listing added. Facts and KYC level set from the service's own terms and documentation.
12 Oct 2026 Incident recorded: Announced discontinuation of its bitcoin trading service