LocalTrade Overview
LocalTrade is a cryptocurrency exchange based in the United Kingdom, having commenced operations in 2017. This overview delves into key aspects of the platform, including trading volume, US investor accessibility, trading view, trading fees, withdrawal fees, and deposit methods.
LocalTrade Trading Volume
As of the last review update on September 21, 2021, discrepancies in trading volume data were observed between Coinmarketcap and CoinGecko. While Coinmarketcap listed LocalTrade as an Untracked exchange with no reported trading volumes, CoinGecko indicated a trading volume of approximately USD 463 million, featuring 48 coin listings and 105 token pairs. Investigation into the cause of this disparity is ongoing.
US-Investor Accessibility
LocalTrade is believed to be accessible to US investors, but it is recommended for them to conduct an independent assessment considering their residency or citizenship.
LocalTrade Trading View
The trading view on LocalTrade varies from other exchanges, and users are encouraged to select a view that aligns with their preferences. Common features include the order book, price chart, order history, and buy/sell boxes. A careful examination of the trading view is advised before choosing the exchange.
LocalTrade Trading Fees
LocalTrade implements a unique fee structure, charging 0.00% for both takers and makers. This stands in contrast to the industry average, where the average spot trading taker fee is approximately 0.2181%, and the average spot trading maker fee is around 0.178%. LocalTrade's fees are notably below the industry average.
LocalTrade Withdrawal Fees
The withdrawal fee model on LocalTrade is percentage-based, varying for different cryptocurrencies. For Bitcoin (BTC), the rate is 0.10% + 0.0001 BTC. While this model benefits those withdrawing smaller amounts, it can result in higher fees for larger withdrawals. Users are advised to consider whether this withdrawal fee aligns with their trading preferences.
Deposit Methods
LocalTrade facilitates deposits through wire transfer, excluding the option to deposit via credit card.
In summary, LocalTrade presents a distinctive approach with competitive trading fees, but users should carefully assess the trading view and fee structures based on their individual preferences and trading habits.
What are the trading fees on LocalTrade?
LocalTrade implements a unique fee structure, charging 0.00% for both takers and makers. This stands in contrast to the industry average, where the average spot trading taker fee is approximately 0.2181%, and the average spot trading maker fee is around 0.178%. LocalTrade's fees are notably below the industry average.
Does LocalTrade offer leverage trading?
LocalTrade does not currently offer margin trading or leverage options.
