LocalBitcoins is a p2p cryptocurrency exchange platform launched in Finland in 2012. In some countries, the service is not available however it is possible to use it via VPN or other methods concealing the user's IP address. The main purpose of this platform is the exchange of local national currencies for BTC. |
| Launched |
|---|
2012 |
Website: |
| Deposits |
Crypto, credit card |
| Payouts |
Crypto |
| Security |
2fa, ssl encryption |
| Verification |
Kyc varies |
Allbit is one of the Decentralized cryptocurrency exchanges based in South Korea. The exchange was launched in 2018. According to the exchange website it’s got a big liquidity volume which is about 20 millions $ for 2019. Allbit has 24 available trading pairs and 19 coins. Allbit declares that it supports a special decentralized network system. It’s called “decentralized heterogeneous chain communication technology”. |
| Launched |
|---|
2018 |
Website: |
| Deposits |
Crypto, credit card |
| Payouts |
Crypto |
| Security |
2fa, ssl encryption |
| Verification |
Kyc varies |
LocalBitcoins is a p2p cryptocurrency exchange platform launched in Finland in 2012. In some countries, the service is not available however it is possible to use it via VPN or other methods concealing the user's IP address. The main purpose of this platform is the exchange of local national currencies for BTC. | Allbit is one of the Decentralized cryptocurrency exchanges based in South Korea. The exchange was launched in 2018. According to the exchange website it’s got a big liquidity volume which is about 20 millions $ for 2019. Allbit has 24 available trading pairs and 19 coins. Allbit declares that it supports a special decentralized network system. It’s called “decentralized heterogeneous chain communication technology”. |
| Launched | |
|---|---|
2012 | 2018 |
Website: | Website: |
| Deposits | |
Crypto, credit card | Crypto, credit card |
| Payouts | |
Crypto | Crypto |
| Security | |
2fa, ssl encryption | 2fa, ssl encryption |
| Verification | |
Live Market SentimentLive Market SentimentLive Market SentimentLive Market SentimentLive Market SentimentLive Market SentimentLive Market SentimentLive Market SentimentLive Market SentimentLive Market SentimentLive Market SentimentLive Market SentimentLive Market SentimentLive Market SentimentLive Market SentimentLive Market SentimentLive Market SentimentLive Market SentimentLive Market SentimentLive Market SentimentLive Market SentimentLive Market SentimentLive Market SentimentLive Market SentimentIt's pretty simple to choose between the two platforms. Which exchange will protect your margins? Whatever type of trader you are – whether a high-frequency volume trader trying to beat maker-taker fees, or an investor needing cold storage – an exchange becomes your partner. We will explore how LocalBitcoins fares against Allbit when it really matters.
Fees become the silent killer of any portfolio performance. Both exchanges utilize a tiered maker/taker fee model, which basically means you get lower fees for higher 30-day volumes. However, there are subtle differences – and the effect can be dramatic. Every additional 0.05% on taker fees will add up, cutting your profit margins.
Pay particular attention to fee discounts available for the native tokens issued by each exchange – sometimes these discounts can be quite generous.
Bitcoin and Ethereum can be found on every exchange. However, the competition between LocalBitcoins and Allbit happens on altcoins territory. One company will actively push obscure coins for speculative gains, the other will focus on regulatory compliance and thorough listings process. This will result in two opposite approaches: a larger but riskier catalog of coins against a safer and stricter set of coins.
Liquidity is a crucial metric for both traders and investors alike. Lack of liquidity will cost you slippage – no need to pay additional fees if the market conditions won't allow you to execute your trades profitably. Luckily for both platforms, the most common trade sizes in standard retail instruments see enough trading volume and narrow spreads.
There is no place for anonymous trading anymore. Both exchanges require KYC verification, which will unlock the possibility of withdrawing larger amounts and using various advanced derivatives.
Nevertheless, the real issue here is geography rather than personal data – due to legal licensing requirements, one of the exchanges may be blocked in your region.
No one likes sitting on a passive portfolio. Nowadays, every cryptocurrency exchange serves as a bank. Various savings programs, staking, and dual investments can provide a significant yield for any portfolio holder. Advertised APY rates vary depending on market demand but check if you will lose money on withdrawal from locked coins if necessary.
Kyc varies |
Kyc varies |
Live Market SentimentLive Market SentimentLive Market SentimentLive Market SentimentLive Market SentimentLive Market SentimentIn modern times, reputation is everything in crypto. When choosing between two options for your investment portfolio, pay close attention to the security track record. Do they publish regular proof of reserves? Do they keep most of the user funds in offline cold storage? If an exchange managed to overcome some kind of hack or incident before and compensate users – it's usually the better option.
It's difficult to find a truly universal "one fits all" approach to exchanges. In case of LocalBitcoins vs Allbit comparison, the winning choice is quite clear – you should use whichever exchange offers more obscure altcoins you wish to trade. Or maybe you're getting discounted fees for your trading tier at Allbit? In any case, run the calculations yourself and choose the winner.
Cryptogeek.info publishes independent, factual comparisons. Our ratings are not influenced by commercial relationships.
