# LocalBitcoins review: KYC policy, privacy and safety grades

> 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.

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

## Key facts
- **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
- **Official website:** https://localbitcoins.com

## What it 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still carries a notice that LocalBitcoins Oy has closed its bitcoin trading service and that remaining funds can be withdrawn by logging in.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 the terms say about ID
Identity verification had become mandatory under Finnish regulation before the service closed.

## Features and warnings
- **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
- **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; 5+ years operating: yes
- **Warnings:** May ask for ID: yes; Screens deposits: not in terms; Holds your funds: yes; Email required: yes; Phone number required: not in terms; Closed source: not in terms; Nobody accountable: not in terms

## Incidents on record
- 9 Feb 2023: Announced discontinuation of its bitcoin trading service (outcome: service closed). Source: https://cointelegraph.com/news/localbitcoins-closes-down-the-p2p-crypto-exchange-service

## 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.

## Sources
- https://localbitcoins.com
- https://cointelegraph.com/news/localbitcoins-closes-down-the-p2p-crypto-exchange-service

How grades are calculated: https://nokycscore.com/methodology