About LocalEthereum

LocalEthereum is a peer-to-peer marketplace where over 100,000 users worldwide buy and sell ETH. You’re in charge of your wallet and transactions at all times, making it easier than ever to convert your digital currency for fiat money.

Every transaction you make will be free of reckless custodians and fat-cat middlemen. Instead, you’ll have complete control of your transaction on an end-to-end encrypted platform that is 100% transparent, so you and the other party know where your currency is at all times.

How LocalEthereum works

LocalEthereum is a listing service for buyers and sellers of ETH. Sellers and buyers from around the world can post offers to trade ETH through a wide range of payment methods. When a user responds to the offer, a peer-to-peer exchange is negotiated directly between the buyer and seller.

ETH is always owned and controlled directly by users — meaning private keys are kept private and messages are made secret using end-to-end encryption similar to that of WhatsApp and Signal. LocalEthereum doesn’t touch any users’ ETH or fiat; it’s a hands-free website known as a self-custodial decentralised web application. This maintains the anonymity and decentrality of ETH and it’s buyers and sellers.

Our hands-off approach is why LocalEthereum is immune from threats associated with centralised exchanges (which have resulted in too many hundred-million-dollar thefts and massive data leaks to count). We don't have cryptocurrency to take because of the self-custodial nature of the website, nor are there juicy records up for grabs as sensitive information is end-to-end encrypted. In an age where massive data breaches and cryptocurrency heists don't raise an eyebrow, handling valuable data is a hazardous liability.

Our international team is here to help in case of a payment dispute — other than that, we have no involvement in your peer-to-peer trade. A payment dispute can arise when the buyer and seller can't bring the peer-to-peer exchange to a natural close. In this case, either party can volunteer a secret key to an arbitrator, enabling them to decrypt the message history and work with both sides to make a fair decision. Using a non-custodial escrow service powered by an Ethereum smart contract, arbitrators have the limited ability to direct the escrow to one of the involved parties.

Our roots

Founded in 2017 by two long-time cryptocurrency enthusiasts in Australia, LocalEthereum combines the great aspects of other peer-to-peer platforms, such as LocalBitcoins and PaxFul, with many awesome innovations having taken place since then, such as end-to-end encryption protocols like Signal, widely supported in-browser cryptography APIs, and third-generation self-custodial web applications.

Without the need for an ICO, the platform managed to attract more than 10,000 users organically before its launch, and after a year of rigorous development with only a shoestring budget, the first version of LocalEthereum sprung into action in November 2017.

Within only a few months after its launch, LocalEthereum was helping people exchange more than US$300,000 per day. By the end of 2018, the marketplace had amassed more than 100,000 users in 130 countries.

LocalEthereum has users in nearly every country, with hot spots in Venezuela, Kenya, India, Russia, Nigeria, China and the United Kingdom.

Our vision

Cryptocurrency has the potential to rapidly accelerate global economic freedom. LocalEthereum is building tools to help lift communities out of unstable economies, and to allow every human to tap into their full economic potential.

We take pride in empowering individuals by putting them in the driver's seat of their own money. Bitcoin and Ethereum were born out of the desire for minimizing — and eliminating — the role of middlemen and legacy financial institutions in otherwise person-to-person interactions. We developed LocalEthereum based on the idea of users remaining in control at all times.

One of our top focuses is Venezuela, where LocalEthereum helps free people from runaway inflation. It's a long road ahead, but we firmly believe that Venezuela, and the rest of Latin America, could set an example for the world after it is flipped to a blockchain-first economy.

Our team

LocalEthereum's head office is in Melbourne, Australia, however we are a multi-national team with members in Australia, Hungary, Venezuela, Argentina, Ukraine and Russia.

We welcome you to get in touch with us for any query.