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3+ best LocalBitcoins alternatives & competitors in 2024

Research the best alternatives to LocalBitcoins, compiled using a range of criteria, including cost, security, and user reviews.
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Updated: Jun 28, 2023
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LocalBitcoins was one of the first peer to peer exchanges for buying and selling Bitcoin. Founded in 2012, the company closed in 2022 after struggling to compete with larger exchanges.  

Use this guide to find the best LocalBitcoins alternatives

Quick take: best alternatives to LocalBitcoins 2024

  1. eToro: Best for beginners, copy-trading & demo-account
  2. Plus500: Best for international trading*
  3. Kraken: Best for simple, global cryptocurrency trading from your phone
  4. Bitstamp: Best for professionals & trading with APIs
  5. Uphold: Best for building long term wealth

Top 10 LocalBitcoins alternatives & similar sites

1. eToro. Best for beginners, copy-trading & demo-account

1%

Fees

$100

Minimum deposit

4,000

No. assets

Yes

Demo/virtual account

Pros & Cons

Great for beginners, simple to set up and get started Competitive, industry-leading commissions Popular ‘Copy Portfolios’ function lets you follow top traders Excellent customer service, with live chat support provided
Comparatively high fees for withdrawals and account inactivity Does not integrate with the MetaTrader platform High spreads on some assets

Overview

We love eToro because it’s a crypto trading platform built with beginners and casual traders in mind. The platform combines an interactive, social trading experience with an easy-to-use interface, making it ideal for novice traders.

The far-reaching catalog of 100 cryptocurrencies includes big names like Bitcoin and Ethereum, as well as smaller crypto tokens with high growth potential. Some supported tokens can be seamlessly transferred to the eToro Money crypto wallet for safekeeping.

One feature we particularly appreciate is the ability to interact with eToro’s 35 million users on any asset, market, or portfolio page. If you find traders whose strategies match your risk tolerance, you can copy their portfolios automatically using eToro’s flagship copy trading functionality. eToro crypto’s Smart Portfolios offer a great entry point into digital currencies, an opportunity to learn and potentially benefit from the expertise of more experienced traders.

If you don’t feel comfortable investing your cash straight away, you can use a free demo account, credited with $100,000 virtual dollars. This offers plenty of opportunities to try out a trading strategy that works for you across the 100 crypto tokens available.

Highlights

Visit eToro eToro Review

Cryptocurrency is offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk, and content is provided for educational purposes only, does not imply a recommendation, and is not a guarantee of future performance. Invezz.com is not an affiliate and may be compensated if you access certain products or services offered by the MSB.

2. Plus500. Best for international trading*

From 2%

Fees

$100

Minimum deposit

3,000

No. assets

Yes

Demo/virtual account

Pros & Cons

Free demo account for every user Secure broker, licensed by top-tier regulators Wide variety of CFDs to trade Several good risk management tools
No support on trading information and education Website isn’t brilliantly designed to help users find answers to their questions No MetaTrader trading platform compatibility

Overview

We love Plus500 because it is one of the industry’s most transparent and reliable brokers. Its fees are clear and you’ll know exactly what you will be paying before you trade. Its technology driven platform gives access to futures for the two biggest cryptos, Bitcoin and Ethereum. 

Plus500 has something for all types of crypto trader, no matter what level of experience. Its low margin requirements of $20 for Ether and $100 for Bitcoin make it a top choice for day traders. At the same time, its trading academy is packed with educational content, perfect for beginners just starting. 

One of the features we like most about Plus500 is its bonuses. Not only does it have a low minimum deposit of $100, but you’ll also have the option to receive a bonus the first time you add funds to your account, so you can stretch your money a little further.

For accurate instrument availability, visit plus500.com.

The fees: Plus500 charges a commission of $0.49 per Micro contract and $0.89 per Standard contract (per side). There is an Auto-Liquidation fee of $10 per contract. Other exchange fees may be applicable and can be found on the CME group website. 

*Based on a comparison of 60+ leading brokers and trading platforms.

Highlights

Visit Plus500 Plus500 Review

CFD service. 82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

3. Kraken: Best for simple, global cryptocurrency trading from your phone

0.10% - 0.26% (volume dependent)

Fees

$10

Minimum deposit

200

No. assets

Yes

Demo/virtual account

Pros & Cons

Cheap/ free deposits in EUR and cheap deposits for the USA Margin trading and Futures supported Transparency - it was the first exchange to carry out proof of reserves Low fees in comparison to other exchanges
Catered towards professional traders with large trading volumes Slow account verification in comparison to other brokers

Overview

We love Kraken because it’s a beginner-friendly crypto trading platform, one that’s designed to make it quick and convenient to buy and sell crypto on the go. The Kraken mobile app provides access to over 200 cryptocurrencies making it one of the most diverse platforms around. 

With an intuitive interface and many advanced features, the Kraken crypto app is suitable for those just starting, or experienced traders wanting to enhance their trading experience. The Kraken mobile app caters to different trading styles and preferences with spot, margin, and futures all available. 

Kraken’s mobile app also supports up to 5:1 leverage allowing you to amplify your position and potentially increase your returns. With such a wide selection of tokens available and a solid range of features and tools, the Kraken app is one of the top cryptocurrency trading platforms while on the go. 

The fees: Kraken charges a fee of between 0-0.26% on every crypto trade. There are no costs to set up an account and no flat trading fees.

Highlights

Visit Kraken Kraken Review

4. Bitstamp. Best for professionals & trading with APIs

Variable

Fees

$10

Minimum deposit

100

No. assets

No

Demo/virtual account

Pros & Cons

Low trading fees and no spreads Supports multiple fiat currencies Regulated platform
Limited number of coins available Major fees on deposits and withdrawals Liquidity has suffered due to the limited selection of coins and most liquidity is concentrated in top names like Bitcoin and Ether

Overview

We love Bitstamp because it has a proud reputation for top performance over more than decade. Bitstamp offers trading on 75+ cryptocurrencies, including Bitcoin, Ethereum, and Litecoin, while staking is available on Ethereum and Algorand. 

Bitstamp was one of the first crypto platforms to set up shop in 2011 and has built up trust since. It’s designed with institutional traders in mind, so it prides itself on near 100% uptime. It stores 95% of assets in cold storage and offers a sliding scale of fees so that high volume traders get the best rates.

The fees: There are no trading fees if you trade less than $1,000 in a rolling 30-day period. Above that, fees start from 0.4% and decline the higher your trading volume is. There is a 15% charge for staking. Withdrawals are charged a flat €3 fee.

Highlights

Visit Bitstamp Bitstamp Review

5. Uphold. Best for building long term wealth

$0.99

Fees

...

Minimum deposit

300

No. assets

Yes

Demo/virtual account

Pros & Cons

Wide range of cryptocurrencies available Zero deposit and withdrawal fees Crypto wallets to store your coins Low minimum deposits and fast account set up
Spreads can be high for some cryptocurrencies Services vary depending on region Customer support is limited

Overview

We love Uphold because it’s a regulated and transparent digital asset platform. There are 160+ cryptocurrencies available to hold and trade, along with three fiat currencies; GBP, EUR, and USD. 

Uphold’s key features include the ability to schedule transactions to avoid trying to time the market. With a focus on long term wealth building, Uphold also offers the ability to earn rewards of up to 25% on staked crypto, as well as 4% cashback paid in XRP for purchases made with the Uphold card.

The fees: Crypto spreads start from 0.9% and are usually lower than 1.3% for BTC and ETH. Other cryptocurrency spreads are higher. Average spreads on fiat currency are 0.2%. There is a $0.99 fee for transactions under $100 made with the Uphold card.

Highlights

Visit Review

Terms Apply. Cryptoassets are highly volatile. Your capital is at risk.

6. Public. Best for AI analysis

public.com logo

1-2% (spread)

Fees

$20

Minimum deposit

9,000

No. assets

No

Demo/virtual account

Pros & Cons

Commission free stock and ETF investing Share and compare your portfolio on a social trading platform Trade crypto, fractional shares, and alternative investments
You can't trade on margin or use leverage No forex, options, funds, metals, or bonds

Overview

We love Public because it makes use of cutting-edge AI technology to enhance your trading and investing experience. Public’s AI-powered feature, Public Alpha offers personalized insights and recommendations through its natural language interface in real time. 

Public’s AI technology helps you make more informed decisions by analyzing massive amounts of data and providing actionable insights. These AI-driven insights are easily accessible and give users access to the latest advancements in crypto analysis and trading. 

Not only do can you use AI to help your crypto investments, Public is one of the lowest cost brokerage firms out there. You can invest in a selection of cryptocurrencies without breaking the bank or having to invest large sums. Public charges 1.25% of your order amount, which is considerably cheaper when compared to similar platforms. 

The fees: There are no fees for investing in stocks during regular trading hours in the US – 9.30am-4pm EST. There is a $2.99 fee for trades outside of regular hours. Alternative investments, including cryptocurrency, are charged a 1.25% fee per transaction.

Highlights

Visit Review
Cryptocurrency execution and custody services are provided by Apex Crypto LLC (NMLS ID 1828849) through a software licensing agreement between Apex Crypto LLC and Public Crypto LLC. Crypto trading on Public platforms is served by Public Crypto LLC and offered through APEX Crypto. Please ensure that you fully understand the risks involved before trading.

7. KuCoin. Best social trading altcoin exchange

...

Fees

...

Minimum deposit

...

No. assets

No

Demo/virtual account

Pros & Cons

Anonymous trading with up to 2 BTC withdrawals/24 hours Wide variety of cryptocurrencies No deposit fees
Low trading volumes not suitable for big traders Doesn’t support U.S. customers You might experience delays and lags during high-traffic times.

Overview

We love KuCoin because it;s a great place for beginners to trade more than 700 altcoins. KuCoin is a social trading platform with 20+ million investors worldwide in 200+ countries.

KuCoin’s beginner zone offers up rewards up to $500 for new users. The rest of the platform has plenty of features for the crypto enthusiast: a staking service to earn money on your stored crypto, an NFT marketplace, and margin trading features to buy leveraged tokens.

The fees: Trading fees are charged on a sliding scale. Fees are 0.1% on trading volumes below 50 BTC in a 30 day period. Discounts are available if you pay fees in KCS or store more than 1000 KCS in your account.

Highlights

Visit KuCoin KuCoin Review

8. Coinbase. Best secure trading platform for all types of trader

Up to 0.6%

Fees

$10

Minimum deposit

200

No. assets

No

Demo/virtual account

Pros & Cons

Simple and easy to use interface Able to buy cryptocurrencies instantly with a credit or debit card Offers great security on its wallet Can use a variety of payment methods
Quite high fees for credit and debit card instant buys Poor customer support

Overview

We love Coinbase because it’s the leading public crypto platform. Coinbase offers more than 170 cryptocurrencies to trade, a secure wallet to store your coins in, and automatic staking rewards on 10+ cryptos through Coinbase Earn.

A public company brings transparency and renown, so you can trust that any money on Coinbase is safe and you’re sharing the platform with over 100 million other users. There is insurance on all cash balances up to $250,000 and the majority of assets are stored offline in cold storage.

The fees: Trading fees start from 0.6% but reduce the higher your trading volume. Bank transfer deposits and withdrawals are free, other payment methods may be charged. There is no fee for wallet-to-wallet crypto transactions but you will have to pay blockchain fees. Coinbase charges a 25% fee for its staking services.

Highlights

Visit Coinbase Coinbase Review

9. Nexo. Best for earning interest & rewards

...

Fees

...

Minimum deposit

...

No. assets

No

Demo/virtual account

Pros & Cons

Offers excellent rates of interest on crypto and fiat savings Nexo debit card makes it easy to access and spend your funds Access crypto loans and collateral Equipped with top quality security infrastructure and insured
No anonymous option, your identity must be verified to place buy and sell orders Margins calls if the value of your collateral drops between a certain level

Overview

We love Nexo because you earn rewards every time you make a purchase. You can trade 60+ cryptocurrencies and earn rewards of up to 0.5% on every transaction, then store your coins on Nexo to build your wealth through passive interest payments.

You can trade on the go from a mobile app and Nexo is designed for simplicity. Every trade is locked in at the rate you see on your screen, so you won’t suffer from price slippage, and it has the added bonus that any crypto held in your account automatically starts to earn interest. 

The fees: Nexo charges a 2% spread on buy and sell transactions. There are no fees for storing coins in your Nexo account. Depending on your loyalty tier, you receive a fixed number of free withdrawals, and any additional withdrawals will be charged a network fee. 

Highlights

Visit Nexo Nexo Review

10. OKX. Best for futures and margin trading

...

Fees

...

Minimum deposit

...

No. assets

No

Demo/virtual account

Pros & Cons

Stake ETH to freely mint FIFA WORLD CUP 2022 NFTs & big prizes 350+ cryptocurrencies & NFTs available across 650+ trading pairs Crypto spot & derivative markets available Pay using hundreds of local payment methods
Not available in the US Lack of fiat withdrawal options

Overview

We love OKX because it’s an adaptable and flexible exchange, with an app that’s available in three different versions depending on how you trade. Choose from the beginner-friendly Lite version, Web3 option for NFT traders, or the Pro version for a plethora of trading tools. 

From an app or desktop you can trade 350+ crypto coins on one of the world’s top crypto exchanges. You can fund your account easily, through a variety of simple payment methods, and a sliding scale of fees that means you can access discounts by holding the OKB token or trading high volumes.

The fees: Regular users pay a 0.1% fee on spot crypto trades. OKB crypto holders are entitled to a discount, up to 0.02% off for holding more than 2,000 coins. High volume traders are also entitled to a discount, with the cheapest fees available for traders with a 30 day trading volume above $10,000,000,000.

Highlights

Visit OKX OKX Review

Compare similar apps to LocalBitcoins

We have assigned each LocalBitcoins alternative a rating to give you an idea of the overall service each crypto exchange provides. The score, alongside a snapshot of some important features, allow us to quickly summarise LocalBitcoins’s top competitors.

LocalBitcoinseToroCoinbaseOKX
Minimum deposit£10£10Variable
Trading feesYesYesYesYes
Tradable assets13,000+3,000+350+
Supported assetsBitcoinCrypto, stocks,
forex, indices,
ETFs, NFTs
Crypto, NFTsCrypto, NFTs
Demo accountNoYesNoYes
Invezz rating3.54.64.54.4
Visit site > Visit site > Visit site > Visit site >

How the best LocalBitcoins alternative was found

We found alternative crypto exchanges to LocalBitcoins by reviewing what most closely matched LocalBitcoins in terms of the business model, licensing & operations, cost of trading, target audience, and cryptocurrency markets available.

We ranked each alternative on these factors while taking into account all available user-reviews across services like Trustpilot, Reviews.io, and Sitejabber, to find the services that offered similar apps to LocalBitcoins.

Here are some more of the features we used to identify the best LocalBitcoins alternatives.

  • Best low fee LocalBitcoins alternatives. The main cost of using a crypto exchange comes from trading fees or commissions but there may be other fees as well. We considered the overall cost of using a different exchange platform, including inactivity fees, spreads, and conversion fees.
  • Best LocalBitcoins alternatives for beginners. Beginner-friendly LocalBitcoins alternatives provide an intuitive app and trading experience that helps you make your first steps in trading. The most important feature it must offer is a free demo account, while features like copy or social trading can be useful as well.
  • Best LocalBitcoins competitors with similar products. We picked out cryptocurrency exchanges where the markets and number of assets available most closely resembled LocalBitcoins. Good LocalBitcoins alternatives offer a large, varied range of crypto products.
  • Most secure LocalBitcoins alternative. All the LocalBitcoins competitors we recommend are regulated by top tier financial regulators to protect you and your money. We also look for similar apps to LocalBitcoins that are transparent about their finances and how they store customer funds.
  • Best LocalBitcoins competitors with highest user reviews & customer ratings. Real life experience of using a cryptocurrency exchange is important. We identified the most popular exchanges by comparing those with the best average ratings and most positive user reviews.

Best low fee alternatives to LocalBitcoins

You don’t want to switch crypto exchanges only to pay more for the service. Here’s how LocalBitcoins alternatives compare in terms of how they make their money:

LocalBitcoinseToroCoinbaseOKX
Trading feesYesYesYesYes
Inactivity feesNoYesNoNo
Rollover/overnight feesNoYes, on CFDsNoNo
Withdrawal feesNoYesYesYes
SpreadsYesYes, on certain assetsYesYes
Conversion feesYesYes, for non-USD currenciesNoNo

Best LocalBitcoins alternative for beginners

LocalBitcoins is targeted towards beginners, so any competitor should provide a helpful experience to new users as well. Here is a comparison of beginner-friendly features available from LocalBitcoins’s competitors:

LocalBitcoinseToroCoinbaseOKX
Free demo accountNoYesNoYes
Video tutorialsNoYesYesNo
Copy tradingNoYesNoNo
Trading academyNoYesYesYes

LocalBitcoins competitors with similar products

A LocalBitcoins alternative should allow you to invest into a similar range of digital assets and crypto markets. That way, you can invest in the same products even if you switch exchanges. Here’s how the competitors compare to LocalBitcoins:

LocalBitcoinseToroCoinbaseOKX
Currencies49
Stocks3117
ETFs317
Indices20
Commodities26
Cryptocurrencies1733,000+350+

Most secure LocalBitcoins alternative

Regulation is important because it offers you financial protection in the event that something happens to the exchange, like a bankruptcy. Here are how the top alternatives fare against LocalBitcoins in terms of regulatory protection.

LocalBitcoinseToroCoinbaseOKX
Africa regulationFSAS
Asia regulation
Australasia regulationASIC
European regulationFCA, CySEC, DNB, AMF, OAM, MFSABaFin
North American regulationFinCEN, FINRAFinCEN
South American regulation

Best LocalBitcoins competitors with highest user reviews & customer ratings

We gathered data from independent review platforms to show what the experience of using a LocalBitcoins alternative was like for other people. 

This information can be a useful tool to help you decide which crypto exchange to use, but remember that there are many reasons why someone might have a good or bad experience with a service – and not all of them are the platform’s fault.

LocalBitcoinseToroCoinbaseOKX
Trustpilot4.74.41.52.9
Reviews.io3.04.52.2
Sitejabber2.071.743.65
Choose a LocalBitcoins alternative

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Sources & references
Risk disclaimer
Prash Raval
Financial Writer
Prash is a financial writer for Invezz covering FX, the stock market and investing. For over a decade he has traded spot FX full time while... read more.