Is Lootbear Legit 2023 – Our Full Review Here
Introduction to Lootbear
Straight out from Israel, Lootbear is a skins trading and rental platform that has been running since 2018. You can buy, sell and rent CS:GO skins with ease thanks to its outstanding liquidity and fast bot. Many people often ask is Lootbear legit?
It has managed to stand out from the rest by introducing the concept of CS:GO skins trading, to help skins owners earn passive income while allowing users to flex on premium and rare skins at a low price… but is it as good as advertised? To buy, sell and rent CSGO skins?
This review will let you know if Lootbear is a legit platform and how you can benefit from joining it. Read our analysis now to discover if you should join this trading and renting platform today to deposit skins and sell CSGO skins in our extensive Lootbear review.
Chris Martin and Jimi Gecelter created Lootbear in 2018 to allow users to buy, sell and rent CS:GO skins effortlessly. In such a competitive industry, they decided to stand out from the competitors by heavily promoting its skins renting service from the start of their operations. This is why they crafted the following vision:
“LootBear is the biggest and most valuable shared inventory, allowing players to use premium skins without spending a fortune.”
Lootbear created a completely new sector in the CS:GO skins industry, registering outstanding numbers: Over $4.5M paid to suppliers and 188M+ hours rented. It has benefited thousands of CS:GO skins owners by bringing them a new way to earn passive income while helping users flex on premium skins at a low price.
It also introduced total insurance for users who decide to rent out their skins, covering them against losses on a 100% basis. Nowadays, it’s mainly known as a skins renting platform rather than a trading site itself because its buying fees and low prices diminish the trading experience. Lootbear pioneered the Skin rental service and even boasts a free trial and a free week of renting for its users. However we must state before you can start trading on Lootbear, you will need to complete the manual verification which will then allow to start trading skins instantly after you verify your identity.
Lootbear has built a solid presence on the internet since 2018, especially on Twitter, TikTok and Instagram. Registering over 6,000 daily visitors, Lootbear has plenty of fans around the world because it’s a legit and useful CS:GO trading platform – here you have their popularity stats:
- Monthly Visitors: 188,000+
- TrustPilot Rating: 4.6/5.0
- TrustPilot Reviews: 2,650+
- Reddit Threads: 1,800+
- Twitter Followers: 36,000+
- TikTok Followers: 18,000+
- Instagram Followers: 16,000+
- YouTube Subscribers: 1,800+
- Steam Community Threads: 940+
- HLTV Threads: 120+
Quality over Quantity for Smooth Trades
At first glance, the monthly traffic at Lootbear is lower than other platforms such as DMarket, SkinsMonkey, or SkinBaron, but it’s highly targeted. Lootbear lives by quality over quantity, and it’s reflected in the total value of its marketplace: $1,500,000+. It means that there’s tons of liquidity, bringing you easy and smooth trades 24/7, especially for rare and expensive skins, which compose the majority of the marketplace. It makes it ideal for users that want to change their inventory on the fly as Lootbear composes a great platform for renting CSGO skins, as a buyer and as a seller. If you have great CSGO skins and want to rent them to other players, Lootbear makes this possible for both parties. Don’t worry about losing your skins if you rent them out to other players as each Skin comes with Skin insurance on all rented items, which makes it great if you want to earn money from the skins on your Steam account so is Lootbear legit? It’s safe to say it is.
If you have any issues with your transactions you can contact customer support on their website where you can create a ticket which is very beneficial for its customers as the wait time is slow for ticket responses.
Backed Up by the Biggest Gaming YouTubers
Many of the biggest gaming YouTubers actively talk about Lootbear and promote the platform to their fans, because they’ve used it and they all agree that it’s a great site for renting skins and buying specific CS:GO skins and even a deposit of skins as stated previously you can even get a free week.
Here you have a list with the YouTubers that backup Lootbear:
- TheGrefg (18M Subs)
- SwaggerSouls (4M Subs)
- LICHTENSTEIN (1.5M Subs)
- NadeKing (1.3M Subs)
- MojoOnPC (969K Subs)
- Toby on the Tele (687K Subs)
- Kugo the Mighty (527K Subs)
Lootbear is a bot-powered platform because it manages all transactions automatically, be it buying, selling or renting. You can buy, sell or rent in just a couple of clicks 24/7, making it a highly reliable trading platform.
You can buy CS:GO skins and items at any time of the day on Lootbear. Their store is full of skins ready for sale, which you can buy instantly and they will be transferred to your Steam Inventory. The bot will execute the operations automatically.
If you want to sell or rent skins, you need to deposit them into Lootbear’s Inventory. After that, the bot will take care of executing the transactions immediately. You can watch your account balance grow with sales or passive income effortlessly, because the traffic, liquidity and bot will take care of completing the deals for you.
Buying & Selling Fees
Let’s start by exploring the buying fees at Lootbear, because we’ve organized them in the following table:
|Payment Methods||Buying Fees|
|Visa||3% + $0.30|
|MasterCard||3% + $0.30|
|PayPal||3% + $0.30|
We aren’t fans of this because most CS:GO trading sites don’t charge a buying fee. It makes cryptocurrency deposits a bad choice, especially if you want to buy skins by the lot.
They don’t charge a selling fee, but the prices are lower than Steam, and it’s fair to say that the real cost of their services resides here, in buying your skins at a lower price, especially if you opt for Instant Sell, because they’ll only pay 50-60% of the original price of
About the Subscription Cost and Renting Fees
If you want to unlock all the benefits of this website, you need to purchase a subscription. Here you have a breakdown on the costs:
- 1 Month of Lootbear: $24.99/month
- 6 Months of Lootbear: $16.99/month
- 12 Months of Lootbear: $14.99/month
You need to get a subscription to rent skins from Lootbear. The more you rent the more chance you get of renting $1200 worth of skins on the website with Lootbear Ultra.
Whereas you don’t need it if you want to rent out your skins Lootbear won’t charge fees at all, and it will pay you a monthly ROI of 3% which is a nice bonus, which can be withdrawn via PayPal on the site and is slightly different when you sell skins.
Bear in mind you cant trade skins from other games and only offer cash for CSGO items.
Deposit & Payout Methods
Here you have the available deposit, payout and renting methods available at Lootbear:
|Payment Methods||Deposit||Payout||Renting||Rental Profits Payout|
You need to be aware of the fees that will apply to all deposit methods, which will range from 3% up to 10%. For payouts, there’s no extra fee however skins are usually cheaper than market value when you sell skins and buy skins.
Keep in mind that payouts, especially for rental profits, can take 1-5 days to show up on PayPal from the Lootbear website. Even though they normally send payments within 24 hours, it’s worth mentioning that sometimes it can take longer to get your money, as it’s been reported on Reddit, Steam Community and HLTV. Which is something to take note off that we noticed while doing this Lootbear review.
- Unique platform in the world for renting CS:GO skins
- Get a monthly ROI by renting your CS:GO skins
- Rent your skins without risk thanks to the full-coverage insurance
- Instantly sell your skins for quick money
- Plenty of rare and expensive skins and items available for trading
- Several deposit methods available
- Crypto buying fee is 10%
Verdict: Should You Trade at Lootbear?
If you want to rent out your skins to obtain a monthly ROI, then Lootbeat is a good choice because it’s the unique platform that offers this service. And if you’re looking to buy rare and expensive CS:GO skins and items, then you should trade at Lootbear because you’ll find plenty of options and prices lower than Steam for lower than market value. Lootbear has become very popular because it’s great for renting skins and provides a modern platform to sell CSGO skins and you can then withdraw your earnings to your PayPal account.
Lootbear only offers services for CSGO skins and not for any other games.
So Lootbear is certainly not a scam and paying and selling on Lootbear is perfectly safe as they have strict skin insurance as stated previously and great if you want to earn money, with a promo code on offer daily.
We hope you enjoyed our Lootbear review and hope we answered your question is Lootbear legit?