Experts are speaking out about their experience working with LocalBitcoins. The peer-to-peer Bitcoin exchange has been located in Helsinki since 2012. It serves users from 240+ countries, aside from that, it isn’t available for the New-Yorkers, the Germans. Our experts detailed about the affiliate program and BTC ATM it offers. Many people have since come forward, sharing their own stories of the exchange peculiarity – no restrictions on the transfer service until the users determine them.
Pros and Cons
Why do you hesitate to share your own experience? You have a chance to choose with whom to do your deal:
- with the protection of Escrow;
- get 50+ payment services;
- avail of conflict resolution service;
- use the familiar already 2 Factor Authentication.
At the same time, people added that the idea of the plain and newbies-friendly service wouldn’t negate the need for not getting on the scammers, reducing high fees for cash. There are fewer points to use LocalBitcoins till your profile hasn’t rated highly.
Payment Methods
It’s important to take responsibility for the things we do, but we must drop apologizing for wanting more. Besides popular banking options in your country, there are more methods, and we advise checking them too.
The list includes:
- by mail
- cash deposit
- Moneybookers/Skrill
- PayPal
- PaySafeCard
- SEPA bank transfer, etc.
Alternatively, you may pay in cash in a face-to-face meeting.
Create Your Own Ads
You’re still reading reviews about LocalBitcoins, trying to get the idea of their work. But that’s FINE, we’ve prepared the example to teach the ropes over a short period. 0.04 BTC is on your balance, isn’t it? If it’s not, solve the issue prior making your own advertisement. For that, verify your ID plus the commission would be 1% out of the sum, not the 0.04 BTC, but the amount you have pointed out by yourself.
Be in no hurry when doing this, as the figure is changeless (fixed). Secure buying and selling are granted by you, as one can do it from your account only and it plays not the least role in the safety that users communicate within the LocalBitcoins website only.
Fill in the Form
How to complete the form? Decide if you buy or sell bitcoin locally or online. That is important, maybe, one of the most important steps to put the location, the currency, the margin, the price equation to the form.
Additional Options
There are such functions like liquidity and security offering different amenities, where you choose identified people, don’t confuse with trusted people feature, only or whether the SMS approval needed.
Fees
No fees to the buyers on the platform. In fact, no other cash transactions are supported, only directly peer to peer operations. For sellers, 1% fee, the deal-making cost, per transaction should be paid. To put it on the buyer shoulders is also possible. Vendors run the risk of selling BTC to individuals who use PayPal which in its turn has a chargeback option, what gives a higher prices.
Avoid Scammers
A majority of the users participating will go back without a profit, and many of them will be going back to day jobs afterward as teachers, doctors, other normal occupations, as LocalBitcoin doesn’t usually pay the bills. But part of the delight is that, for this time, almost all will become masters of their fate bunking in the circumstances they created themselves for the occasion.
Reach out to reps for Local Bitcoins users if an account has with a high rating, it means 97-98% or above, look closer to him or her profile. Being on the site for a year or more is the score of the trust, however, don’t miss the key point for you – the amounts (verified!) of done deals together with sold bitcoins, – stand for your success. The same is eligible with regard to you. They began with small deals though that is how it works.
Conclusion
The people think they are untouchable, but times are changing. It’s important to determine decisions based on facts, points as LocalBitcoin promises to be the largest-securest-profitable-ever licensed broker for a ton of people, pouring into the bitcoin trading with their hopes and dreams.