LocalBitcoins

FoundedJune 2012
FounderJeremias Kangas
HeadquartersHelsinki, Finland
Area servedWorldwide
Websitelocalbitcoins.com
  • LocalBitcoins is a peer to peer bitcoin marketplace based in Helsinki, Finland.
  • Its service facilitates over-the-counter trading of local currency for bitcoins.
  • Users post advertisements on the website, where they state exchange rates and payment methods for buying or selling bitcoins.
  • Other users reply to these advertisements and make the payment in their specified payment method.
  • The site uses an escrow system, and the transfer of bitcoin is made after funds are received in the sellers account.
  • LocalBitcoins has a reputation and feedback mechanism for users and an escrow and conflict resolution service.
  • In November 2019, LocalBitcoins.com got registered as a Virtual Currency Provider by the Finnish Financial Supervisory Authority.

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