LocalTrade Review 2023 - Is It Safe?

LocalTrade is a Brazil-based cryptocurrency exchange that was founded in 2018. The exchange offers users the ability to trade a variety of cryptocurrencies such as Bitcoin, Ethereum, Ripple, Litecoin, and Bitcoin Cash. LocalTrade provides a simple and user-friendly trading platform, making it a popular choice among both beginner and experienced traders in Brazil. This review will provide an in-depth analysis of LocalTrade, including its features, fees, security, user experience, and customer support.

Features

LocalTrade offers users a variety of features that make it a popular exchange in Brazil. The exchange supports a wide range of cryptocurrencies, including Bitcoin, Ethereum, Ripple, Litecoin, and Bitcoin Cash. Users can easily buy, sell, and trade these cryptocurrencies on the platform. LocalTrade also offers users the ability to deposit and withdraw funds using Brazilian Real (BRL) or cryptocurrency. This is a convenient feature for Brazilian traders who want to avoid the hassle of converting their funds to a different currency.
In addition to its basic trading features, LocalTrade also offers users a mobile app for Android and iOS devices. The app provides users with all the features of the desktop platform, allowing them to trade and manage their portfolios on the go. The app is easy to use and provides users with real-time market data, allowing them to make informed trading decisions.

Fees

LocalTrade charges users a fee of 0.25% for both market makers and takers. This fee is in line with industry standards and is competitive with other Brazilian cryptocurrency exchanges. LocalTrade does not charge any deposit or withdrawal fees, making it an attractive option for Brazilian traders who want to avoid high transaction fees.

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Security

LocalTrade takes security seriously and has implemented several measures to ensure the safety of user funds. The exchange stores the majority of user funds in cold storage, which is an offline wallet that is not connected to the internet. This provides an added layer of security against hacking and other cyber threats.
LocalTrade also requires users to set up two-factor authentication (2FA) when logging in to their accounts or making withdrawals. This is a common security feature that requires users to enter a code from a 2FA app in addition to their password. This helps to prevent unauthorized access to user accounts.

User Experience

LocalTrade offers users a simple and user-friendly trading platform. The platform is easy to navigate and provides users with all the tools they need to buy, sell, and trade cryptocurrencies. The platform also provides users with real-time market data and charts, allowing them to make informed trading decisions.
LocalTrade also offers users a variety of educational resources, including a blog and a help center. These resources provide users with valuable information on trading strategies, market analysis, and other cryptocurrency-related topics.

Customer Support

LocalTrade offers users several customer support options, including email and a live chat feature on the platform. The exchange also provides users with a comprehensive help center that includes answers to frequently asked questions and detailed tutorials on how to use the platform.
Overall, LocalTrade provides users with a reliable and user-friendly platform for trading cryptocurrencies. The exchange offers a wide range of features, competitive fees, and robust security measures, making it an attractive option for both beginner and experienced traders in Brazil.