Cryptos Land: Local Bitcoins

Saturday, 16 September 2017

Local Bitcoins

LocalBitcoins was founded in 2012 to help people buy and sell Bitcoins in their locality. Since then it has become a large trading platform where an estimated 1200-1400 Bitcoins are traded daily. You can buy Bitcoins using this platform very easily. To buy Bitcoins first you need to register with LocalBitcoins website. The sign up process is simple and you only need to provide your desired Username, Email and password. After signing up a confirmation link will be send to you. You need to confirm this in order to buy and sell Bitcoins on platform so don't forget to.

After signing up you need to look for Sellers in your country to buy Bitcoins or you can create your own ad on the network at your desired buy to buy Bitcoins. While selecting the person to trade with you really need to be cautious since there may be fraudsters or scammers. A good way to check a person is by looking at his profile age and trust ratings and feedback score. Additionally all trades are secured by escrow.

Once you have decided from which seller you want to buy. Just click on "Buy" and pay using the desired method. LocalBitcoins support several payment options depending on your region. Send the payment to the seller and wait for him to return it to you in Bitcoins. LocalBitcoins is one the easiest way to buy Bitcoins.

Pros
- P2P Exchange
- Escrow Protection
- Only option to buy Bitcoins in some country
- Several Payment methods
- Low fees
- No Buy/Sell Limits from LocalBitcoins
- Quick and Active Support
- One of Oldest Exchange
- Global users
- Built in Bitcoin Wallet

Cons
- Sellers can place limits
- Transfer of Bitcoin depends entirely on seller can take a hour
- Not an anonymous exchange (Phone and ID and Passport verification might be required)
- Possibility of scammers

LocalBitcoin Community
Local Bitcoin Twitter
Local Bitcoin Reddit
LocalBitcoins Facebook

localbitcoin logo

No comments:

Post a Comment

Get Latest Post Via E-mail