LocalCoinSwap
grade D
Non-custodial cryptocurrency marketplace. Buy BTC, ETH, USDC, USDT, DAI and more cryptos worldwide using 300+ payment methods.
grade D
What the documents mean for you
LocalCoinSwap can demand ID documents in a dispute or on suspicion, and refusing means trades cancelled or the dispute lost. Its decision on multisig escrow is final. It can suspend accounts without notice on undisclosed criteria, and bans VPNs and 20+ countries.
There is no routine identity check to register or trade, but LocalCoinSwap reserves 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. Company accounts must be verified as a company. There is no clause describing automated transaction scoring that triggers identity checks, so this is discretionary and risk-based rather than shotgun or mandatory KYC.
Identity checks are set off by a trade dispute, by activity LocalCoinSwap treats as suspicious or fraudulent, or by a request from a regulator or law enforcement. If they ask, you must hand over government-issued ID, proof of address, payment evidence and any other document they consider relevant. If you refuse, they can suspend or terminate your account, refuse to resolve your dispute, or cancel your trades; your crypto stays in the on-chain escrow whose outcome they decide.
Warnings
LocalCoinSwap can require KYC information, payment records, photo, audio or video evidence as a condition of resolving a dispute. If you do not follow those instructions, the dispute may be resolved against you and your escrowed crypto goes to the other side.
They can limit, suspend or terminate your account without prior notice and on criteria they will not disclose. If you did not back up your private keys, a suspension can leave you permanently unable to reach your crypto.
Over twenty countries are blocked, plus any jurisdiction under US, EU, UN or UK sanctions and any other country the operator designates. They can add to the list at any time without notice, and you must stop using the platform immediately if you move to one.
Personal data is kept as long as needed for the purpose it was collected for, but they may hold it longer to meet a legal obligation or on the order of an authority.
The privacy policy is dated 19 August 2018 and still refers to the EU-US Privacy Shield, a data transfer framework that was invalidated in 2020. The list of processors it names may no longer match current practice.
How the score was reached
Privacy33/100
Trust65/100
Overall = (privacy × 0.6 + trust × 0.4) / 10, rounded = 5/10, grade D. Each attribute above rests on a clause quoted below or was assigned by a moderator; the rest is what the listing knows.
Attributes13 moved the score
May require KYC/SOF by policy/lawprivacy -6 · trust -4
The service may require identity verification, KYC or Source of Funds information, by its own policy or by law, at any time.
The service reserves the right, at its own discretion, to require KYC and AML documents from you in disputes, on suspicion of fraud, or when regulators or police ask.
“LocalCoinSwap reserves the right, at our sole discretion, to require Know Your Customer (KYC) and Anti-Money Laundering (AML) documentation from you in specific circumstances, including but not limited to: (i) dispute resolution, (ii) suspicious or potentially fraudulent activity”
https://localcoinswap.com/terms-of-service
Seller wallet is custodialprivacy -3 · trust -3
The seller lacks control of the funds while a trade is open, common on P2P exchanges for dispute handling.
While a trade is open the seller's coins sit in escrow, and LocalCoinSwap decides who gets them by applying or withholding its escrow signature in a dispute.
“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”
https://localcoinswap.com/terms-of-service
May suspend your accounttrust -4
The service reserves the right to suspend or limit access for violations or arrears.
Access can be limited or suspended when the operator believes you broke the terms or suspects financial crime, or when it suspects unauthorised account access.
“Restrictions may be applied to your account (for example, by limiting your ability to open new trades) if we suspect unauthorized access to your account, fraudulent or unlawful activity, or if required by law.”
https://localcoinswap.com/terms-of-service
Phone number is requiredprivacy -4
A valid phone number is needed, verified by SMS or a call. Anonymous SMS services are often acceptable.
Phone numbers are collected and managed through Twilio, a phone number and messaging provider, and the terms forbid using a non-personal phone number on your account.
“Your account must not contain misleading or fraudulent information, including, but not limited to, the use of a non-personal phone number.”
https://localcoinswap.com/terms-of-service
Service termination policytrust -4
The provider can terminate access at any time, without notice, at its discretion.
The operator can limit, suspend or terminate your account without prior notice, and says it need not disclose the criteria behind that decision.
“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.”
https://localcoinswap.com/terms-of-service
Data sharingprivacy -3
Personal data may be shared with authorities or third-party providers for compliance.
The privacy policy says personal data may have to be revealed to public authorities, and that data is accessible to external processors such as hosting, mail and IT providers.
“The User declares to be aware that the Owner may be required to reveal personal data upon request of public authorities.”
https://localcoinswap.com/privacy
Account requiredprivacy -1
An account has to be created to access and use the service.
You cannot use the trading services without registering an account and giving accurate, complete information.
“To use the Services you must register a user account (“Account”) and provide accurate, current, and complete information.”
https://localcoinswap.com/terms-of-service
Non-custodial walletprivacy +3 · trust +5
The user holds and manages the private keys; the service never has custody of the funds.
The operator states it does not store or have the ability to access or recover your private keys, and cannot reissue seed phrases.
“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.”
https://localcoinswap.com/terms-of-service
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 (Bitcoin multi-signature script or a smart contract) for the duration of the trade.
“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).”
https://localcoinswap.com/terms-of-service
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 post offers and trade cryptocurrency directly with each other; the operator provides the interface and escrow, not the other side of the trade.
“All cryptocurrency settlement occurs peer-to-peer on-chain between users. Users may create offers to buy or sell cryptocurrency and respond to offers from other users.”
https://localcoinswap.com/terms-of-service
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 applying or withholding its signature, and it calls that decision final.
“Any decision reached by LocalCoinSwap in a Dispute is final. Our involvement in Disputes does not make us a party to the underlying transaction, and we disclaim all liability arising from any dispute resolution outcome.”
https://localcoinswap.com/terms-of-service
If you do not hand over the ID, proof of address and payment documents they ask for, they can suspend your account, refuse your dispute, or cancel your trades.
“If requested, you must provide accurate and complete verification information, which may include government-issued identification, proof of address, payment evidence, and other documents. Failure to comply may result in suspension or termination of your account, denial of dispute resolution”
https://localcoinswap.com/terms-of-service
They say the decision to limit, suspend or terminate your account may rest on confidential criteria they are not obliged to explain to you.
“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.”
https://localcoinswap.com/terms-of-service
If you do not answer support within 12 hours during a disputed trade, they can treat you as unresponsive and resolve the dispute against you.
“This means that you must be able to provide a response to a request by LocalCoinSwap support in a disputed trade within 12 hours or you may be deemed as unresponsive and the dispute may be resolved against you.”
https://localcoinswap.com/terms-of-service
All trade communication must happen in the platform chat so support staff can read it. Encrypted or off-platform messages are ignored in disputes.
“All communication relevant to the trade must happen in the trade chat part of the trade in such a way that it is readily available for LocalCoinSwap support staff to review.”
https://localcoinswap.com/terms-of-service
Cookies and usage data go to Google Analytics, Facebook, Twitter and Google Ads for analytics and remarketing, and Cloudflare filters all traffic between you and the site.
“The way Cloudflare is integrated means that it filters all the traffic through www.localcoinswap.com, i.e., communication between www.localcoinswap.com and the User's browser, while also allowing analytical data from www.localcoinswap.com to be collected.”
https://localcoinswap.com/privacy
The site may collect, use and share your location data, and your public profile can show your city and geographic position.
“www.localcoinswap.com may collect, use, and share User location Data in order to provide location-based services.”
https://localcoinswap.com/privacy
Using a VPN, proxy, device spoofing or false residency to get around geoblocking is a breach that can cost you your account and your open trades.
“You will not attempt to circumvent geoblocking or other controls, including by VPN, proxy, falsified residency, or device spoofing.”
https://localcoinswap.com/terms-of-service
The operator states it cannot access, reset or recover your private keys or seed phrases, so losing your backup means losing the coins.
“Export and securely back up seed phrases and private keys for any wallet created or connected through the Platform; LocalCoinSwap cannot reset, recover, or reissue keys, seed phrases, or on-chain addresses.”
https://localcoinswap.com/terms-of-service
The site says it does not honour browser "Do Not Track" signals.
“www.localcoinswap.com does not support “Do Not Track” requests.”
https://localcoinswap.com/privacy
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