Get Custom Quotes, Info & More from Multiple Providers At Once.
Liquidity Finder
February 9, 2023

Bitcoin Exchange LocalBitcoins to Close, Citing Market Conditions

LocalBitcoins is suspending the exchange 10 years after its inception as weekly volume has slumped significantly.

February 9, 2023 - Bitcoin exchange LocalBitcoins is set to close on 16th February 2023 in response to the "ongoing very cold crypto winter."

Launched 10 years ago, Helsinki based LocalBitcoins is one of the longest-running exchanges, averaging between $5 million and $7 million in weekly trading volume over the past four months.

This is significantly below 2017 levels when it surged to above $100 million in consecutive weeks according to a report in CoinDance.

"We are sad to share, that regardless of our efforts to overcome challenges during the ongoing very cold crypto-winter, we have regretfully concluded that LocalBitcoins can no longer provide its Bitcoin trading service," the company said in a statement.

Trading will be suspended on February 16, after which users will be able to log in only to withdraw their crypto.

LocalBitcoins offered peer-to-peer and escrow services for users looking to buy or sell bitcoin via traditional bank transfers and cash deals across multiple currencies. 

It was a marketplace driving liquidity and helped to spur the arbitrage market as users could sell bitcoin at a spread above spot price and then buy the asset on centralized exchanges for cheaper.

Require Some Guidance in Finding The Right Provider?

Let One of Our Experts Help!

Use the LiquidityFinder Match Matrix to find the right provider for your electrionic trading business!

Get Started


LiquidityFinder was created to take the friction out of the process of sourcing Business to Business (B2B) liquidity; to become the central reference point for liquidity in OTC electronic markets, and the means to access them. Our mission is to provide streamlined modern solutions and share valuable insight and knowledge that benefit our users.

If you would like to contribute to our website or wish to contact us, please click here or you can email us directly at

Be First To Comment.
Featured News on LiquidityFinder
Latest News on LiquidityFinder

To personalize content, provide a optimal experience, tailor and measure engagement; the browsing, navigating and the continous use of this website means you agree to the Terms of Service, Privacy Policy & Security Policy of this website. Your choices on this website will be applied globally throughout the website.

LiquidityFinder & Our Partners

Your behavior, data and actions may be utilized to offer you optimal connections and services by approved and suitable providers fitting your account requirements and website actions. When contacting providers or initiating a provider request, match matrix or expert match review we may share necessary data to evaluate your compatability with our connected partners and suitable providers.