LocalCryptos Reviews 289

I got screwed out of SEVERAL HUNDREDS of dollars using this phony site!! Was really fooled by the fake 5 star reviews. That's why most of them are short written with very few details. It's harder to write a 3,000 character review full of positive lies without people seeing through the bs.

I'm gonna give you the entire low down on how it works in a nutshell. Take my loss as your WARNING to not do ANY business with them.

So on this platform you will see all of the buyers/sellers who you want to trade with. Most people will want to do business with those who have done the most trades and offer close to market value for their crypto. Well here's how it works. If you sell you have to put your money in an "escrow" Then wait for the buyer to confirm they sent payment. After proof that you have received it you release the crypto to the buyer.

Well guess what? The deal will never be made and here's why. They either HOPE you release the funds before checking...(which at this point I assume you will never hear from them again). OR they will cancel the trade and give ANY excuse as to why. They mark that they've sent payment before they have actually sent it #1. #2 Nearly all of the buyers and sellers with tons of trades work for the company or are in on the scam.

It's a catch-22 and you lose either way you flip the coin. Whenever a trade is cancelled the SELLER is charged the bulk of the network and escrow fees. So even if a deal doesn't go through you will get returned less $ than what you started with. You will a lose minimum $50-$100 each time.

I think somehow the site is set up to make people think these are regular users looking to do business. But it's actually people that either own the company or work for the company that are setting up new and naive people to stay on the platform to keep trying to buy and sell. They will milk you and just keep apologize after every unsuccessful trade saying (they didn't know why their bank is giving them sending limits or Paypal blocks, etc). Hoping you will keep trying with them...or someone else. They all work together so it really doesn't matter who you choose.

They even ask for personal info in trades which isn't necessary to do business. I gave a fake name because I already knew it was fishy...and just like I thought "cancelled trade!" Seems harmless until you realize you're losing BTC or ETH from your wallet each time. Cancelled trades and releasing escrow too soon is primarily how they get your money. In fact you lose in any trade because once it cancels you get back less.

There's probably some kind of commission or % structure setup in how they divide the money up that is made scamming people. Think of it like if you worked for a collection agency. I never have but I have had friends who did and explained how it works.

If you are the buyer...I imagine that it's the same scam but in reverse. Even if they do send you your crypto, you will probably end up paying 2-3x what you would pay to buy using Coinbase....and everybody knows that CB charges the most in fees (but they are at least LEGIT!!).

The customer service and even more the arbitrator on this site is useless. But I expect them to defend all aspects of their service. Gotta keep the scam going right??!!

Take Heed...my loss is your gain. If you get taken too after reading this review...you have no one to blame but yourself.

Great platform! Simple, trustworthy, efficient.

Not able to buy many top coins. Selection limited. Else.. An awesome platform

This is simply the best site i've used to buy and sell crypto. So fast, cheap and secure it's hard to believe it.

It's simply perfect, because the platform self is very consistent, fluid, trusty by both sides (seller/buyer), very welcoming to the users and just the Number 1 in his Style.

I deposited some funds last night and posted an offer so that I can sell them....I now try to login and I'm given this error "A connection error occured while attempting a HTTPS request to a backend server."

It seems they have Scam exited after bitcoin hit $47k

SCAM SITE, MUST HAVE EXITED AFTER BITCOIN REACHED ATH @47k

BEWARE!!!!! DO NOT USE IT!

They have a horrible security procedure that suspends your account when you try to make a first trade and ask you to contact support to re-enable your account. When you do so, they say that they decided to block your account and that's the final decision, and that's it. You waste your time and fees just by trying to sign-up and using their crappy service! A great way for welcoming new users!

I like the platform looking for an OTC trader have never been easy! Do look out for those with a lot of trades and don’t let scammers get onto you. Always do FAST TX instead of waiting for a TX to go through, scammers are lurking around.

Used for the first time had a great experiance with no issues the website does as intended, just be selective on who you chose to buy from i.e people with lots off trade activity and %100 feedback and you will be okay also make use of the escrow system do not send payment until buyer has placed funds in escrow !

I always have login problems, always saying error kindly check on that

I have refused to give a five star experience because there is a day I used a lot of gas on ETH. Also you have few cryptocurrencies on the platform. Please add LINK and Tether.

Fell victim to a scammer. Transfered £400 to a transferwise bank account and scammer claimed it hadn't arrived, and immedietely threatened to go to the police etc before anything had been decided. Provided LocalCryptos with full bank statements, photo id, video of online banking etc and all i was told was 'seller has proof they didnt receive the funds'

Statement was clearly faked but best I could get was 1 liner responses from 'Arbiter' Irritated I fell for it, and disapointed that LocalCryptos was not staffed by more helpful people.

I like very much this platafform, all my transactions alwways go it very fast. And it's very secure.

Some employees actually do a great job.
Sadly "Anibal" is the worst person in Customer service I have ever experienced.
He should have been fired a long time ago, never ever reads the emails I sent and he always responds with a pre written text. Basically a stupid bot.

The others are cool tho, it's hit or miss, depending on which representative you get.
I never had any issues with other representatives, they always fix my issues immediately.