Localtrade Crypto Exchange Review: It Is Good Or Bad?

About Localtrade Crypto Exchange

Localtrade Crypto Exchange is one of the cryptocurrency exchanges from the United Kingdom. It has been active since 2017. The Token (LTT) is a BEP-20 standard token minted on the Binance Smart Chain. LTT token combines utility and governance functionality, powering up the whole LocalTrade ecosystem.

Localtrade Exchange Basic Points

How To Start ?

Localtrade Crypto Exchange Trading fees

Most crypto exchanges charge two different types of trading fees: taker fees and maker fees. The taker is the person who picks up an existing order from the order book. The maker, on the other hand, is the person who creates an order that is not immediately matched against an existing order on the order book. Makers are often rewarded for creating liquidity on the platform by a lower trading fee than takers. Exchanges that do not make a distinction between takers and makers charge what they call “flat fees”. Localtrade Crypto Exchange charges 0.00% for both takers and makers.

According to the largest and most recent empirical study on crypto exchange trading fees, the average spot trading taker fee is currently 0.2181% and the average spot trading maker fee is currently 0.178%. Compared to those average trading fees, LocalTrade taker and maker fee are below the industry average.

LocalTrade Withdrawal fees

Localtrade Crypto Exchange has a percentage based withdrawal fee, meaning that they charge you a percentage of the withdrawn amount when you withdraw. Their percentage charged vary from crypto to crypto, but for BTC, the rate is 0.10% + 0.0001 BTC. This is an unusual withdrawal fee model, but it is not unheard of. Most exchanges have a fixed withdrawal fee, regardless of the size of the withdrawn amount. 

With the fee model that this exchange has, when you withdraw small amounts, it is beneficial to you. If you withdraw 0.01 BTC, the withdrawal fee becomes 0.0001 BTC (quite low). However, if you withdraw 10 BTC, the withdrawal fee becomes 0.1 BTC (extremely high). Please consider whether this withdrawal fee suits your own trading or not.

By charging percentage based withdrawal fee models, the exchange makes up for some of the profit they loose when not charging any trading fees. Overall, they still think these trading fees are quite competitive.

Deposit Methods

This cryptocurrency trading platform offers wire transfer as a deposit method, but you can’t deposit via credit card.

Features

Deep Knowledge

Localtrade Crypto Exchange Educational materials on blockchain, crypto and trading topics are published regularly and will satisfy both novices and experienced users.

Trading Masterclass

Extensive online course from a professional crypto trader delivers unique knowledge and skills to multiply your trading returns.

DeFi Universe

They give decentralized finance a new meaning by making it simple and convenient for everyone. Explore how Localtrade Crypto Exchange embraces technology to deliver convenient tools and a full-fledged user-friendly DeFi ecosystem.

Token Listing

Supercharge your token’s performance: list your digital assets on LocalTrade to get worldwide exposure and access to instant liquidity.

Staking

Still HODLing? Time to start earning! Stake your assets in pool to get additional interest and feel the power of passive income.

Trading Competitions

Are you a Master Trader? Prove your selfworth: get to the top of our traders leaderboard and enjoy exclusive prizes for being among the best!