LocalCoinSwap
grade C
Non-custodial cryptocurrency marketplace. Buy BTC, ETH, USDC, USDT, DAI and more cryptos worldwide using 300+ payment methods.
grade C
What the documents mean for you
LocalCoinSwap can demand ID in a dispute or on suspicion, and refusing can cancel your trades or end your account. It signs or withholds the multisig escrow key and its dispute ruling is final. Account required, 20+ countries blocked, VPNs banned.
Registration does not require identity documents, but LocalCoinSwap keeps the right, at its sole discretion, to demand KYC and AML documents in disputes, on suspicion of fraud, or when regulators or law enforcement ask. That is a discretionary, situation-driven check rather than a routine or automated one, which matches level 2.
Three things set off an identity check: a trade dispute, activity the company finds suspicious or possibly fraudulent, and requests from regulators or police. If asked, you must hand over government-issued ID, proof of address, payment evidence and any other document they name. If you refuse, they can suspend or terminate your account, cancel your trades, and refuse to resolve your dispute, which can decide the escrowed crypto against you.
Warnings
In a dispute, LocalCoinSwap alone decides how the escrow is signed, and that decision is final. If you do not answer support within 12 hours, or you refuse their document requests, the dispute can be resolved against you.
Government ID, proof of address and payment records can be required in a dispute, on suspicion of fraud, or at the request of regulators or police. Swaps are also subject to this identity verification clause.
The account must carry accurate information, a personal phone number, and a true country of origin. Payments must be made from an account in your own name, which exposes your identity to your trading partner.
Usage data, IP addresses, geographic position and system logs are collected, and data flows to Google, Facebook, Twitter, Cloudflare, Zendesk, Twilio, Sendgrid, Mailgun and Splunk, mostly processed in the United States. Do Not Track requests are not honoured.
They can amend or replace the Terms at any time with no prior notice, and continuing to use the platform counts as your acceptance.
How the score was reached
Privacy45/100
Trust71/100
Overall = (privacy × 0.6 + trust × 0.4) / 10, rounded = 6/10, grade C. Each attribute above rests on a clause quoted below or was assigned by a moderator; the rest is what the listing knows.
Attributes11 moved the score
May suspend your accounttrust -4
The service reserves the right to suspend or limit access for violations or arrears.
Breaking the rules, or merely being suspected of it, can get your account limited or suspended.
“Any violation of these representations may result in immediate suspension or termination of your account, denial of dispute resolution, cancellation of trades, and reporting to competent authorities where required by law.”
Terms, localcoinswap.com
Service termination policytrust -4
The provider can terminate access at any time, without notice, at its discretion.
The operator can limit, suspend or terminate an account without telling you first, using criteria it will not disclose.
“We will normally give you a notice of any limitation, suspension, or termination of your account but we may, if it is reasonable to do so (for example we consider it advisable for security reasons), limit, suspend or terminate your account without prior notice to you.”
Terms, localcoinswap.com
Data sharingprivacy -3
Personal data may be shared with authorities or third-party providers for compliance.
The privacy policy says data may be revealed to public authorities and is accessible to external processors such as hosting and IT providers.
“The User declares to be aware that the Owner may be required to reveal personal data upon request of public authorities.”
Privacy policy, localcoinswap.com
Liquidity provider may block fundsprivacy -1 · trust -1
Even if the service itself is permissive, the upstream liquidity provider can independently freeze funds and demand KYC or Source of Funds.
The outside Swap Provider can run its own compliance checks and place holds on your deposit, and the operator says this is outside its control.
“Swap Providers may set minimum and maximum amounts, may decline a Swap or a currency pair at any time, and may apply their own terms, compliance checks, and holds to your deposit. Any such action is taken by the Swap Provider and is outside LocalCoinSwap's control.”
Terms, localcoinswap.com
Account requiredprivacy -1
An account has to be created to access and use the service.
You cannot use the service without registering an account.
“To use the Services you must register a user account (“Account”) and provide accurate, current, and complete information.”
Terms, localcoinswap.com
Non-custodial walletprivacy +3 · trust +5
The user holds and manages the private keys; the service never has custody of the funds.
The service states it cannot access or recover user private keys, which the user must back up themselves.
“LocalCoinSwap does not store or have the ability to access or recover your private keys. You are solely responsible for securely backing up any private keys generated or used through the Platform.”
Terms, localcoinswap.com
Peer to peer networkprivacy +2 · trust +5
A decentralised network in which individual computers connect directly rather than through the operator.
Escrow availabletrust +6
A trusted third party holds funds during a peer-to-peer transaction until both sides have delivered.
Seller funds are locked in an on-chain escrow during a trade, and the operator can sign the escrow to settle a dispute.
“When a user sells cryptocurrency, the funds are secured in an on-chain non-custodial escrow mechanism native to the relevant blockchain (for Bitcoin, a multi-signature script output; for other chains, a smart contract).”
Terms, localcoinswap.com
Mature servicetrust +5
This service has been operational for 2 years. While this indicates stability, it is not a future-proof guarantee.
Approvedtrust +5
Passed limited recent checks and met approval threshold.
Peer to peer markettrust +4
A marketplace where unknown people trade directly with one another rather than with the operator.
Users trade directly with other users through offers, and the operator says it is not a party to those trades.
“Users may create offers to buy or sell cryptocurrency and respond to offers from other users.”
Terms, localcoinswap.com
What costs you most first. Tap one to read the clause it rests on, or what the listing knows, priced as kycnot.me prices it.
What the documents say
In a dispute, LocalCoinSwap decides who gets the escrowed crypto by signing or refusing to sign the multisig escrow, and its decision is final.
“LocalCoinSwap may, at its sole discretion, review the evidence provided and determine how the on-chain escrow smart contract should be resolved. As part of this process, LocalCoinSwap may sign or withhold its signature in a multi-signature escrow”
Terms, localcoinswap.com
The site feeds your usage data into Google, Facebook and Twitter advertising and analytics networks, and it ignores browser Do Not Track signals.
“This type of service allows www.localcoinswap.com and its partners to inform, optimize and serve advertising based on past use of www.localcoinswap.com by the User.”
Privacy policy, localcoinswap.com
They can base a limit, suspension or closure on confidential risk criteria and owe you no explanation.
“You acknowledge that our decision to limit, suspend, or terminate your account, may be based on confidential criteria that are essential to our risk management and security protocols and that we are under no obligation to disclose the details of our risk management and security procedures to you.”
Terms, localcoinswap.com
Using a VPN, proxy or spoofed location to get around the country blocks is a breach, and they can cut off your account for it.
“You must not attempt to circumvent these restrictions (including via VPNs, proxies, spoofing, or falsified information).”
Terms, localcoinswap.com
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