Payments

LocalBitcoins cuts fees

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August 13, 2021

LocalBitcoins, a peer-to-peer bitcoin marketplace, has cut its deposit fees to zero. The company is also offering free bitcoin wallets and transactions between users, according to a press release.

Buying and selling bitcoin is also free on the platform, but LocalBitcoins will charge a 1% fee to members who create advertisements to sell their bitcoin.

"Requests for removing our deposit fee and clarifying our fee structure came from our loyal and trusted customers, and we delivered," Jukka Blomberg, CMO, LocalBitcoins, said in the release. "We continue our relentless focus on improving customer satisfaction, which can be seen from our recent and upcoming announcements as well as our TrustPilot score of 4.8, given to us by over 55,000 customers."