LocalMonero

LocalMonero is a cryptocurrency exchange. It was launched in 2017, and it is based in the British Virgin Islands. LocalMonero is a peer-to-peer marketplace that is used by different users worldwide. Users can buy or sell Monero (XMR) to each other directly. Interestingly, LocalMonero supports more than 160 fiat currencies. Hence, many users can use their local currency. Additionally, the platform supports many methods for deposits and withdrawals.

Features

1. Supports more than 60 different payment methods (Credit card, PayPal, Gift card, etc.)
2. Supports more than 160 fiat currencies
3. No deposit and withdrawal fees
4. Trading fees apply for different trades
5. offers online and offline (face to face) trades
6. Does not comply with KYC or AML
7. Offers an escrow system
8. 2FA for security
9. There is I2P and Tor network for privacy

Pros

• Available in multiple languages (English, Spanish, Chinese, etc.)
• The platform mediates disputes between  users
• Users have the freedom to set minimum and maximum transaction limit
• Users  can trade unanimously
• Prevents fraud through escrow system
• Values privacy and security
• Offers a user-friendly and simple interface

Cons

• Supports 1 cryptocurrency
• Has limited trading features
• Credibility is questionable on the unknown team behind the platform
• There is a 1% fee for trades when there is an advertisement creation
• Users are limited to create up to 100 ads

For LocalMonero alternatives check the following list