LocalBitcoins is a P2P (person-to-person or peer-to-peer) exchange. It was one of the first P2P Bitcoin exchanges, and is the largest one today.
Buyers and sellers of Bitcoin can agree on the deal term and LocalBitcoins can be used as escrow.
LocalBitcoins allows for any payment method, but cash deposit is the most popular one.
Limits – How much can you buy or sell
LocalBitcoins doesn’t have limits and you are free to decide on the amount and pricing.
What about Privacy
LocalBitcoins is a relatively private and even an anonymous way to buy bitcoins. The exchange does not require personal information besides an email address on signup. However, some sellers will ask you for and ID.
LocalBitcoins is available almost all over the world, except Germany and the state of New York (due to the BitLicense).
LocalBitcoins charges a flat 1% fee on all trades. That is a low fee.
LocalBitcoins offers support via email and usually responds quickly.