LiberalCoins – Decentralized BTC Cryptocurrency Trading Exchange?
Liberalcoins is a local cryptocurrency exchange that lets you buy and sell cryptocurrencies for cash. Find out how it works today in our review.
What Is Liberalcoins?
Liberalcoins, found online at Liberalcoins.com, is a local cryptocurrency trading website. The site was announced and launched in May 2017.
Unlike Localbitcoins and similar services, Liberalcoins has offered bitcoin and altcoin trading from the very first day. Overall, Liberalcoins aims to be the first local person-to-person exchange that offers bitcoin and altcoin trading for cash as well as inter-cryptocurrency trading all under one roof.
You can use Liberalcoins to buy and sell bitcoin along with altcoins like Monero, Dash, and Litecoin.
Traders can use Liberalcoins to manage their cryptocurrency portfolio and easily trade across all cryptocurrencies. The company also claims to have unique security and trading features enabling individuals to trade faster and more securely.
One of the unique things about Liberalcoins is that the company does not use KYC methods. They also don’t participate in data sharing – they don’t even use Google Analytics.
How Does Liberalcoins Work?
You sign up for Liberalcoins using an email address, a username, and password.
Once you’re signed up, you can search through ads in your area. Just like Localbitcoins, you can see people in your local area advertising various bitcoin offers. You might see someone offering bitcoin in exchange for a bank transfer, for example, or a cash deposit.
Users pay fees of around 0.5% on each completed trade. All trades are performed over the user-friendly UI. Users can connect with local or global traders through a private, secure system.
Liberalcoins offers all of the following features:
- Bitcoin, Dash, Monero, and Litecoin for cash trades at some of the lowest trading fees on the market
- Most electronic payment methods available, or can be added if they’re not initially listed
- Cryptocurrency trades between bitcoin, Dash, Monero, and Litecoin to give traders flexibility when balancing their cryptocurrency portfolio
- Automatic database backups every 4 hours, with backups saved at 2 different locations
- Users can encrypt access to their funds using their password (private key encryption)
- Servers are located on the Isle of Man, described as “one of the best regulated countries in terms of privacy protection in Europe)
- No Google Analytics, no advertisements, no user data sharing, and no social media tags and pixels
- Multiple currency trades available; at the time of writing, Liberalcoins supported bitcoin, Monero, Dash, and Litecoin
Overall, Liberalcoins is a local bitcoin trading website developed with an emphasis on privacy and low fees.
Liberalcoins charges a 0.5% fee on bitcoin/cash trades, and most altcoin trades seem to offer an identical 0.5% fee.
Who’s Behind Liberalcoins?
Liberalcoins was created by Simon Lange, a 26 year old entrepreneur. The exchange launched on May 13, 2017 after two years of development.
Liberalcoins offers a service similar to Localbitcoins, but with the added ability to buy/sell Dash, Monero, and Litecoin. You can use the site to browse through offers in your local area, including locals who are willing to exchange cash for bitcoin. Liberalcoins holds fees in escrow, then charges a 0.5% fee on completed trades.
The platform is very privacy-focused. The website uses no tracking software – not even Google Analytics. Plus, users don’t have to complete KYC verification or other authentication procedures. All you need to sign up is an email address and a username.
To learn more about Liberalcoins and how the platform works, visit online today at Liberalcoins.com.