LocalBitcoins
Local Bitcoins is a different sort of exchange that allows anyone anywhere to trade. It therefore has the largest amount of markets - although some without much liquidity - for example in Venezuela and other emerging markets. LocalBitcoins works like an open outcry with people in the same location as you - if you want to trade you can place a buy or a sell for a price and wait to be contacted by someone who wants to execute that trade. After agreeing the trade funds are released and held in escrow and depending on the specifics of the local banking system and times for transactions to get confirmed, the trade will eventually be completed. There can be complications which mostly come in the form of couterparty risk - where someone refuses to go ahead with the trade as the price in the market has moved in their favour - so they gain by keeping the bitcoins or USD if they have gone up. Localbitcoins has a dispute resolution system in place to handle these sorts of issues - but on the flipside there is a reputation based system - so you can gauge whether your trading party is reliable or not. Trading fees vary and depend on whether you have placed an advert to sell - whereby LocalBitcoins takes a 1% fee. In all a good means to exchange Bitcoin but it doesn't have the razor edge price discovery, and execution time of more traditional order driven exchanges. Medium | Facebook | Instagram | LinkedIn | YouTube | Reddit.
Fees
Bitcoin trading: Registering, buying, and selling Bitcoin is completely free. LocalBitcoins users who create advertisements are charged a 1% fee for every completed trade. Bitcoin transaction fees: Transactions to wallets of other LocalBitcoins users are free. Incoming transactions to LocalBitcoins wallets are free, but a minimum deposit limit is applicable. Transactions below the minimum deposit limit will not be processed. You can find the current minimum deposit limit on your wallet page. Transactions to other Bitcoin wallets are subject to a sending fee, which is paid from your wallet when you send a transaction. The current fee is visible on the wallet page. The fee varies based on how congested the Bitcoin blockchain is; LocalBitcoins automatically adjusts this fee to make sure your transactions are confirmed as quickly as possible. Other fees: Custom work, e.g. research of possible external problems, is 200 EUR/hour paid in Bitcoin at the current market rate. Minimum billable amount is 200 EUR. See the full <a href="https://localbitcoins.com/fees" target="_blank">Fee Schedule</a>
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