Detailed LocalTrade Review
LocalTrade is a cryptocurrency and digital asset exchange, which was founded in 2018.
The brand serves the cryptocurrency space through no less than 27 active markets. They also provide trading access to both crypto-to-crypto and fiat-to-crypto pairs. Our LocalTrade review shows that the main currencies on this cryptocurrency exchange are the US Dollar (USD), Bitcoin (BTC), and Ethereum (ETH).
LocalTrade Review in Short
Exchange analysts recommend that traders pay attention to Ethereum as the main cryptocurrency for making money easily and quickly. Local Trade reports a minimum investment of $0.01 with a 0.2% trade commission.
The LocalTrade review highlights that the website serves 13 languages, including English. This is great and goes beyond what most crypto exchanges offer. However, outside of the trading panel, most of the information is available in English only. It’s nice to see that the trading panel itself supports all the available languages in the list almost in full.
The brand offers two-factor authentication (2FA) for added security to help users avoid fraudulent transactions.
The exchange delivers real-time support, and it can take up to 24 hours for technical support to answer messages.
The Company Mission
The company’s mission is to provide easy access to the most profitable and secure DeFi & CeFi financial products by leveraging existing payment infrastructure and CEX capabilities. Through combining CEX expertise and DeFi solutions, the brand aims to launch the DeFi Lab for a new generation of independent crypto investors looking for reliable tools to help them seize market opportunities in a fast-growing industry.
The platform offers the following financial products:
- CEX & Trading – Local Trade Exchange, CEX Mobile App, LocalTrade University.
- Payments — LocalTrade Pay, VISA card, Neobanking app.
- Decentralized Finance — LocalTrade DEX, DeFi Lab, DeFi Wallet App, Launchpad.
Features of Local Trade
Here is an extensive suite of trading and financial services with a wide range of available features:
- Spot trading
Available since the launch of the platform, the spot trading market allows traders to use a variety of assets via a web interface or API. Traders can switch between supported trading pair numbers, including BTC, ETH, USDT, etc.
- Margin trading
Expanding the functionality of spot trading, margin trading provides users with the possibility to trade leveraged assets by opening positions over their available balance.
- Trading competitions
To stimulate the trading process, LocalTrade CEX regularly holds various campaigns and contests for traders.
Traders can generate a code, which can then be redeemed by any LocalTrade account without any additional fees.
A Unique Product from LocalTrade – Neobank
Despite all the advantages of a cryptocurrency over fiat currencies, most users are still hesitant to accept crypto as their main payment method. This is mainly due to general inconveniences. Only a few places (both digital and physical) currently accept payments in cryptocurrency, and this fact, combined with long transaction processing times, slows down the global adoption of coins.
The LocalTrade VISA card is created to provide users with a viable payment option to use cryptocurrency with ultimate convenience.
In the view of the authors of this LocalTrade review, the product will please users with the following features:
- instant crypto to fiat conversion
- cash withdrawal at any ATM in the world without commission for foreign transactions
- cashback in LTT tokens for your purchases
The LocalTrade VISA card is at the heart of a full-fledged payment solution — the Neobank application.
The NeoBank app is the platform’s solution to eliminate the boundaries between crypto and fiat. It is a one-stop option that provides users with the convenient and secure possibility to trade and exchange cryptocurrency instantly using LocalTrade liquidity.
Is it Worth Trying to Trade?
Like any other financial instrument, the LocalTrade platform has its benefits and disadvantages. Generally, analytics always emphasizes the risks of digital trading. However, the experts from LocalTrade do their best to minimize the risks and provide a safe environment for the investors.
LocalTrade Review from Real Traders
It is understandable to have doubts before entering the new trading platform. Therefore, here are the reviews of real users, both novice and experienced traders, giving their honest opinions about the Local Trade platform.