Q. What is CryptoLocally?
CryptoLocally is a community run P2P trading platform for popular cryptocurrencies like BTC, ETH, USDT, TRX etc… Thanks to our unique smart contract escrow, users are able to buy and sell crypto tokens with each other in the fastest and most efficient way possible. You can either post offers or respond to offers already on the website.
CryptoLocally makes exchanges between fiat currencies and cryptocurrencies easy and improves the overall trading experience for cryptocurrency traders.
Q. What does P2P mean and why should I trade P2P?
P2P stands for Peer-to-Peer. All traders on CryptoLocally enjoy a p2p trading experience. Each user can trade cryptocurrencies person to person, thus the transaction is completely based on your preference. Both traders can easily set the payment method and location, and communicate with each other to successfully finish the trade.
Q. Is CryptoLocally safe?
Yes, it’s SAFE! All transactions made on CryptoLocally are powered by a smart contract on chain and are secured by the escrow until the end of your trade. No third party, including hackers, can interfere or lay a hand on your crypto.
Q. What’s an escrow? Are my cryptos safe?
Escrow is a legal concept describing a financial instrument whereby an asset or escrow money is held by a third party on behalf of two other parties that are in the process of completing a transaction.
Our escrow system protects all the trades on CryptoLocally until the end of each transaction. The seller’s fund will be held by an escrow on behalf of CryptoLocally. You do not need to deposit any money on our platform. The buyer sends the money directly to the seller only once the escrow has been funded; The fund is held in the escrow in the name of the user temporarily. Then after the seller confirms that they have received the payment, the escrow is released and the tokens are sent to the buyer’s wallet. This process allows buyers and sellers to complete trades safely and trustfully.
Q. Are you a custodial service?
No! Our service is 100% non-custodial. CryptoLocally NEVER holds users’ funds. Our non-custodial service allows each user to fully control their own digital assets so their funds remain secure. You can send or receive cryptocurrencies directly with your own wallet.
Q. How long will it take for my trade to occur?
Once the trade starts, CryptoLocally sets a time limit for each step that occurs afterwards. Depending on the reactivity of the traders and the payment method, a trade can take less than 2 minutes or a maximum of 40 hours.
Here is the time limit for each step of a trade:
- Agree on terms: 25 hours
- Fund escrow: 2 hours
- Pay: 2 hours
- Release escrow: 16 hours
There are two exceptions to the time limit for payment - Transferwise and Local Cash. The time limit for Transferwise is 16 hours and the time limit for Local Cash is 72 hours.
Q. What payment methods are supported?
There are many payment methods available on our platform.
Bank Transfer, Local Cash(in person) Cash Deposit, International Wire, Venmo, Wechat Pay, Toss, Kakao Pay, Cash App, SEPA transfer, TransferWise, Mercado Pago, Paypal, Alipay, M-Pesa, Sesacash, Revolut, Zelle, IMPS, UPI, Chippercash, Pesalink, FNB, Yandex money, Qiwi, Xoom, WorldRemit, Gcash, Grabpay, Coinsph, Paymaya, Swish, GooglePay, Paytm, Skrill, Western Union...
Q. Is it safe to use PayPal on CryptoLocally?
Although PayPal has been seamlessly integrated with the CryptoLocally platform, using PayPal as a payment option creates some risk for sellers.
Buyers can revert payment if they don’t use the friends and family option, and not all countries have the friends and family option.
Q. Can I trade crypto-to-crypto on CryptoLocally?
Yes! You can use USDT (Crypto) and Monero in exchange for other cryptocurrencies on CryptoLocally. When it comes to USDT, you can use both USDT ERC-20 and USDT TRC-20 to buy or sell cryptocurrencies.
Q. What type of USDT do you accept on your platform?
CryptoLocally accepts USDT ERC-20 and USDT TRC-20 trades.
Q. How can I report an issue?
Anyone can report an issue simply by clicking the button on the bottom right of our main page. It will allow any user to leave a message or chat with our support assistant.
Q. The user I am trading with isn’t responding, what should I do?
We highly recommend that traders try to solve problems amongst themselves while using our platform, however, if this does not work you should contact the CryptoLocally staff to file a dispute. At that time, we will provide further instructions regarding the process for filing disputes. You can find more details on our arbitration policy page.
Q. What happens when I initiate a dispute resolution case?
When a user commences with the dispute resolution process, CryptoLocally will freeze the smart contract (the escrow). The next step is to determine which side of the transaction is being disputed, e.g. unreleased escrow or a missing/partial fiat. CryptoLocally will contact each party to obtain evidence to substantiate the claim. After reviewing the evidence, CryptoLocally will either ask for additional information or offer a decision on the claim. All decisions in the arbitration process are final and binding. Each party will be notified of the decision and the resolution will be executed within 24 hours of the decision.
Q. Can I use CryptoLocally in my location?
Absolutely! CryptoLocally can be used by anyone anywhere as long as they have access to the internet. We allow users to select their preferred location and currency so that they can easily trade with those near them using their local currency.
Q. I can’t find offers from my location or in the currency of my choice, what should I do?
If you cannot find the offer you like the most, you can create your own offer in a minute. Simply set up your preferred payment method, location, currency, and margin of choice.
Q. How to receive telegram or sms notifications?
You can receive telegram or sms notifications relating to your offer and transaction status. All users who have signed-up can go to the account settings and turn on the notifications. Notifications include the start of your offer, each step, and each new message.
Q. What do the symbols/numbers next to traders’ names mean?
If you hover over the gray dot next to traders’ names you can see when they were last active on CryptoLocally. Under their names is a number with the letters “trd” after it. The number represents the number of trades (trd) they have completed on CryptoLocally.
Q. I started a trade but I’m not sure what I should do. How can I get help?
Q. How are the exchange rates calculated and locked in during a trade?
The exchange rates are based on the price source that the offer creator chooses when creating the offer. For example, if the user chose CoinGecko as the price source, the exchange rate would be based off of the current data from CoinGecko's API. The exchange rate is locked in when a user opens a trade by clicking "Publish Offer". However, the "locked in" rate is only for the users' reference. The buyer and seller can still negotiate the price while they agree on terms.
Q. How do I change the status of my offer?
To change the status of an offer, click on your username in the heading of your CryptoLocally account. Then select “My Offers”. Under “Status” you can switch between active and inactive depending on whether you would like to actively seek trades from the offer or not. You can also delete offers by clicking on the red “Delete” button.
Q. How do I become a VIP on CryptoLocally?
To become a VIP you must hold at least 25,000 GIV and to become a VVIP you must hold at least 100,000 GIV. You can find more information about VIP levels and earning GIV here. If you have any additional questions or comments regarding CryptoLocally, please send your questions to firstname.lastname@example.org
Q. What is a Referral code?
CryptoLocally offers a robust referral program where you earn passive crypto income every time a friend you referred completes a transaction! Joining our referral program is very simple. First, sign up and get your own referral code, then share your referral code or referral link with your friends and family or any other users in the world!For more details regarding our referral program. details regarding our referral program.
Q. I want to list a token on CryptoLocally. Who should I contact?
If you would like to list a token on CryptoLocally, please contact the CryptoLocally support team at email@example.com
Q. What is GIVernance?
We envision CryptoLocally as a Community Run project. GIVernance enables GIV token holders to manage and govern Cryptolocally by integrating a governance model at the heart of the platform.
GIVernance marks an evolution of the GIV Token. Through GIVernance, GIV token holders will be empowered to control over the level of inflation of the GIV token, change its staking rewards, and decide on platforms free floats by way of token burns. Furthermore, GIVernance participants will also be able to decide on CryptoLocally Vault (CLV) strategies.
Q. How does GIVernance work?
You can vote on a proposal (idea) by staking your GIV token to a proposal. Votes on proposals are time-weighted and time-sensitive. More specifically, at least 10% of the real-time circulating supply of GIV tokens must be staked on a proposal for at least 14 days to make the proposal pass. For the time being, these criteria apply to all proposals. The community will determine revisions for these criteria going forward by voting.Don’t hesitate to read our guide on how to use GIVernance
Q. What is GIVernance Voting Portal?
GIVernance is here to make CryptoLocally a truly decentralized provider of non-custodial smart contract escrows for Peer-to-Peer digital assets trading.
Through the GIVernance voting portal, you can easily see what proposals our GIV community members listed. At the same time, you can vote for the proposals you like by staking GIV, and decide on how CryptoLocally develops.Feel free to read our guide, if you want to know further information.
Q. What is the GIV Guild forum?
The community-run project can be seen on our GIV guild forum. It is the key that makes CryptoLocally the world’s first completely decentralized platform.
GIV community members can create a proposal starting at the GIV Guild forum. Any membes can open a draft to write the proposals and to give site feedback.You can always share your thoughts on the GIV guild forum.
Q. How can I get GIV?
You will automatically be gifted GIV on sign up as our welcoming gift. Don’t forget to share your referral code to your friends and family, so that you can earn passive income every time they complete a trade on CryptoLocally.
The best way to earn GIV is to fully utilise our P2P trading service and become an active trader. After each trade, both users will be awarded GIV based on the trade amount.
Q. How do I use GIV?
There are various services you can use with our GIV token.
1. Discount Coupon
This coupon will reduce your trading fees by 50% for a trade of your choice.
2. Offer Boost
Place one of your offers at the top of the buying or selling list.
3. Voting for Proposals
Vote on any proposal for the GIV community using GIV.
4. Tier system
Enjoy the amazing trade experience on CryptoLocally and gain access to the perks of the Tier system - Bronze, Silver and Gold.You can check out the detailed information here