#Bitcoin is king
CryptoLocally
Discontinued non-custodial peer-to-peer crypto exchange launched across EOS, Tron, and BNB Chain
1.6/ 5
Our score
Weak
What is CryptoLocally?
CryptoLocally was a peer-to-peer cryptocurrency marketplace launched in 2019 that provided non-custodial trading infrastructure across multiple blockchains, including EOS, Tron, Ethereum, and BNB Chain. Designed to connect buyers and sellers directly using local fiat payment methods, the platform integrated smart-contract escrow systems alongside its native utility and governance token, GIV. The exchange discontinued operations in October 2024, when its website went offline.
Corporate background and backing
Founded in 2019, CryptoLocally operated out of Hong Kong. In September 2020, the project raised funding through a private pre-sale round for its GIV token. That investment round was led by Alameda Research, with participation from IOSG Ventures, NGC Ventures, Genesis Block, 3Commas, Smile Research, and One Block Capital.
Trading mechanics and custody architecture
CryptoLocally operated on a non-custodial model, meaning the platform did not hold custody of user balances in centralized accounts during standard trades. Instead, transactions were secured through on-chain escrow contracts on supported networks like EOS and Tron. When a trade commenced, seller funds were locked into an escrow smart contract until the buyer completed the agreed fiat payment via local bank transfer or cash methods. The platform also introduced a Finance Wallet that added decentralized finance capabilities to trade balances, as well as the GIVernance system, which enabled GIV token holders to vote on feature deployments.
Verification and platform availability
CryptoLocally allowed users to register and trade without mandatory identity verification, operating without KYC requirements for basic account levels. User security and transaction trust relied heavily on an internal reputation scoring system, where traders reviewed counterparties following completed transactions. The platform supported transactions in several digital assets, including EOS, TRX, BNB, BTC on BEP-2, and USDT on TRC-20.
Operational shutdown and risks
On October 17, 2024, CryptoLocally went offline and was categorized as discontinued. Operating a non-custodial P2P marketplace carries typical risks, including payment dispute delays, counterparty fraud during fiat transfers, and reliance on smart-contract escrow logic.
Best for:Historical peer-to-peer exchange researchDiscontinued EOS and Tron tradingNon-custodial crypto market studies
Pros and cons
Pros
- Non-custodial trading architecture using on-chain escrow smart contracts
- No mandatory identity verification (KYC) required to trade
- Supported multiple base networks including EOS, Tron, Ethereum, and BNB Chain
- Integrated user reputation and feedback scoring for counterparty evaluation
Cons
- Platform discontinued and website offline since October 2024
- Relied on lead funding from Alameda Research
- Non-custodial escrow remains vulnerable to fiat counterparty payment disputes
Our review
1.6/5
Weak
CryptoLocally offered non-custodial peer-to-peer crypto trades without mandatory identity verification, but the platform ceased operations and its website went dark in October 2024.
Founded in Hong Kong in 2019, CryptoLocally launched as a decentralized peer-to-peer trading venue designed to enable direct cryptocurrency transactions in local fiat currencies. Unlike traditional centralized exchanges that require account holders to deposit funds into centralized custodial balances, CryptoLocally implemented smart-contract escrow protection across networks such as EOS, BNB Chain, Tron, and Ethereum. The venue operated without mandatory identity verification, letting counterparties trade assets such as Bitcoin, Tether, TRON, and EOS based on mutual ratings and reputation scores.
The platform raised seed funding in September 2020 via a private token pre-sale round led by Alameda Research, with participation from IOSG Ventures, NGC Ventures, Genesis Block, 3Commas, Smile Research, and One Block Capital. That round was followed by the rollout of the GIV token, a community governance module called GIVernance, and an integrated DeFi feature labeled Finance Wallet. While this model eliminated direct custodial counterparty holding by the company, the website went offline in October 2024, marking its permanent closure.
Traders who focus on active markets and deep liquidity will not find an operational service here.
Sources (1)
Specs
| Markets | P2P · unverified |
|---|---|
| Fiat deposit methods | P2P · unverified |
| KYC required ⓘ | No · unverified |
| Security features | Escrow smart contracts · unverified |
| Futures & perpetuals | No · unverified |
| Copy trading | No · unverified |
| P2P market | Yes · unverified |
| Earn / savings products | Yes · unverified |
Not disclosed by the provider: Maker fee, Taker fee, Coins listed, Accepts US customers, Proof of reserves, Staking / earn, Mobile app, Licenses & registrations, Max leverage (x), User protection fund, Referral program.
Data from the provider's website and public sources. Fees and availability change; confirm on the official site before you sign up.
Key features
Smart contract escrow
Transactions locked seller crypto inside smart-contract escrow on chains like EOS and Tron until fiat payments were verified.
Multichain asset support
Traders could swap assets across EOS, Tron, Ethereum, and BNB Chain, including BTC (BEP-2) and USDT (TRC-20).
Finance Wallet
Integrated decentralized finance features directly into user wallets for managing trading balances.
GIVernance community voting
Allowed holders of the native GIV token to submit proposals and vote on platform development choices.
Counterparty rating system
Provided post-trade user reviews and reputation scores to evaluate trading partners before entering escrow.
Inside CryptoLocally
CryptoLocally P2P Marketplace
A peer-to-peer exchange interface that facilitated direct crypto purchases and sales using fiat payment methods, protected by smart-contract escrows.
Finance Wallet
An integrated wallet tool designed to give marketplace participants access to decentralized finance tools.
GIVernance
A community governance portal allowing GIV token holders to vote on platform development proposals and features.
CryptoLocally screenshots
User reviews
No user reviews yet. Have you used CryptoLocally? Share your experience below.
Funding and investors
1Round
7Investors
-
Pre-sale Sep 2020 Amount undisclosed
FAQ
Is CryptoLocally still active?
No, CryptoLocally discontinued operations and its website went offline in October 2024.
Where was CryptoLocally based and when was it founded?
CryptoLocally was founded in 2019 and was based in Hong Kong.
Did CryptoLocally require KYC identity verification?
No, CryptoLocally operated without mandatory KYC verification, relying instead on user reputation ratings and on-chain escrow.
Who invested in CryptoLocally?
CryptoLocally closed a private pre-sale in September 2020 led by Alameda Research, alongside investors including IOSG Ventures, NGC Ventures, Genesis Block, and 3Commas.
Did CryptoLocally have a native token?
Yes, CryptoLocally launched the GIV token, which was used for platform governance through its GIVernance portal.
Which blockchains did CryptoLocally support?
CryptoLocally supported trading across EOS, Tron, BNB Chain, and Ethereum.
Latest from CryptoLocally on X
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#cryptocurrency #blockchain
#cryptocurrency #blockchain
Cardano founder talks about Web3 and the comfort of Bitcoin at Binance Blockchain Week
“When you move past the comfort of Bitcoin, you start entertaining many other ideas,” said Cardano founder Charles Hoskinson in his keynote speech.
“When you move past the comfort of Bitcoin, you start entertaining many other ideas,” said Cardano founder Charles Hoskinson in his keynote speech.
Bitcoin is king, the $45k resistance zone has been disarmed.
We have started this week with bullish momentum
#bitcoin
We have started this week with bullish momentum
#bitcoin
Recent public posts from @cryptolocally, shown as published. Not reviewed or endorsed by CryptoReview.
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