We decided to do a complete compilation of the fastest and slowest methods overall on Local Cryptos platform below:
AliPay, WeChat – 5 minutes
M-PESA – 7 minutes
Russia, Kenya bank transfers – 9 minutes
IMPS – 10 minutes
Malaysia, Thailand, India bank transfers – 10 minutes
China, Poland bank transfers – 11 minutes
Western Union – 18 minutes
International Wire Transfer – 34 hours
SEPA – 18 hours
TransferWise – 5 hours
Kenya, home of Safaricom’s M-PESA, is the third most popular country on Local Cryptos by weekly trade counts. According to Local Cryptos, there has been 10x growth in Kenya in 2020 so far, and no doubt, bank transfers and M-PESA are contributing immensely to the massive growth on the platform.
NB: Unlike other P2P platforms, Local Cryptos is a non-custodial P2P wallet – this means that when you make a transfer in your Local Cryptos web wallet, your browser uses your private key to generate and sign a transaction on your device using client-side cryptography. At no point in time do their servers see your private key. Your keys – your coins.