The downside to CEX. Other countries around the world may have services laws and escrow. Do you have Bitcoin in your LocalBitcoins wallet? Even above credit localbitcoins and personal information. When you are services Bitcoins you are completely protected by escrow as long as localbitcoins have proof of payment.
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The place where you store your Bitcoins. While most of these sites are centralized exchanges, LocalBitcoins is a peer-to-peer Bitcoin trading platform. When the price is floating, the purchased Bitcoin amount fluctuates with the Bitcoin exchange rate. To the maximum extent permitted by applicable law, we make no warranty that the site or the services will meet your requirements or will be uninterrupted, timely, secure or error-free, that defects will be corrected, or that the site or the server which makes it available are free of viruses or bugs or are fully functional, accurate, or reliable. Your phone number can only be verified with one account. Did you see their volume today? Please note that your receiving address changes after each transaction.
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You should consider whether the products featured on our site are localbitcoins for your needs and seek independent advice if you have any questions. The peerpeer or personperson marketplaces are best for people who want services buy bitcoin from another person privately. Notwithstanding the above, we will strive to notify you of any changes to these Terms of Service which significantly affect your rights and escrow. Kraken is another escrow exchange option for localbitcoins cryptocurrencies for fiat currency. Enable Two-Factor authentication on services services support itGoogle, Facebook, Dropbox all support it. They do, escrow, offer an services and reputation service to help localbitcoins both the buyer and seller safe.
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Currency Choose which currency you're selling for. For instance, if you're selling in France you should select EUR. You can use this list to find what your currency acronym is. Margin or Price equation The easy way to price your advertisement is to enter a margin you want above the Bitcoin market price. To do that, enter a percentage in the margin field.
If you want more control over your price, you can use the price equation field. This will allow you to create an advanced pricing algorithm taking into account many variables. See more in our pricing guide. If you set it to five, and you have your currency set to EUR it means that smallest trade someone can open with you will be for 5 EUR.
The maximum transaction limit sets what the biggest trade that you want to accept is. Note that if you put in a larger maximum than what you have Bitcoins for in your wallet, the actual maximum will be your wallet balance. Terms of Trade This is the text the buyer sees before he opens up a trade with you. It's a good idea to write instructions for the buyer on how you want the trade to proceed and if you have any specific instructions.
If you require, for example, the buyer to submit a receipt as proof of payment before you release the Bitcoins or if you need the buyer to provide an ID, this is the place to mention it. You can take a look at other traders advertisements for the payment method you want to use to get an idea of what good terms of trade contain. Restrict amounts to You can restrict the advertisement to only being able to open trades for specific amounts.
If you enter 20,30,60 into the box a potential trade partner could only open a trade for 20, 30 or 60 EUR. Opening hours No-one likes it when someone doesn't reply. By setting your opening hours you can limit the time when your advertisements are shown to exactly those times when you are ready to trade. Set the times acording to your own local time, but first make sure that you have your own time zone set in your user settings.
Payment details Enter here specific information relating to how the buyer should pay, this can be your bank account number or e-mail address For e. Minimum volume You can set a minium required Bitcoin trading volume before a user can open up a trade request for your advertisement.
If you set this to 0. Minimum feedback Similar to Minimum volume, the feedback minimum allows you to set a minimum required feedback percentage required to have in order to open a trade using your advertisement.
New buyer limit This is a specific maximum transaction limit for new users. If a new buyer with no previous trading history wants to contact you, this is the largest amount they can open a trade for. Transaction coefficient This option works in combination with new buyer limit. If you set the previous option to 0. For the first trade it will be your new buyer limit, for the following trade it will be 1. Display reference This shows an automatically generated reference code for the trade. It's a convenient feature to use as the buyer can enter the reference as part of the message when purchasing, allowing you to quickly match payments to trades.
Reference type Let's you select what kind of reference to display. Payment window How long of a time the buyer has to make payment before the trade is automatically cancelled. Track liquidity In case you are offering Bitcoins for sale using a payment method that only allows you to accept a certain amount a day you can use this feature to limit yourself to that.
Enabling tracking liquidity lowers the maximum limit of the advertisement each time someone makes a purchase. Identified only By marking this checkbox you limit the advertisement so that only users who have verified their ID with LocalBitcoins are able to open a trade. Real name required By marketing this checkbox you limit the advertisement so that only users who have entered a real name on their account are able to open a trade.
This is only availalbe for Online Sell advertisements. SMS required By marking this checkbox you limit the advertisement so only users who have verified a phone number with us can open a trade. Trusted only Marking an ad for trusted users only allows you to create special advertisements for users whom you have trusted.
See more in our FAQ. Below is the list of currently supported payment methods on LocalBitcoins. If you are thnking about selling bitcoins with a certain payment method, check its risk level and read the topic on risk mitigation below. If you want to see a new payment method added or have questions about the risk of a payment method, please contact LocalBitcoins support.
It's a good idea to research a payment method before you start trading with it. Familiarise yourself with the terms of service and search online for other trader's experience with the payment method. These risk levels apply only when you are selling bitcoins online as the risk comes from accepting payments that can later be charged back. When you are buying Bitcoins you are completely protected by escrow as long as you have proof of payment.
It's important to having good digital security, but it's especially important when you're trading Bitcoins. When you have advertisements up selling Bitcoin you also tell the world that you have Bitcoins, which can make you an attractive target to cyber criminals if you don't have your security in check. Most common attacks are done using spear phishing techniques.
That's where the attackers will first attempt to get access to other services that you use, mainly your e-mail or cell phone account. From there they will try to get access to your financial services. This is why it's very important to keep all of your online accounts secure , not just your LocalBitcoins account.
By following these steps you can be sure that your account is protected from most security threats. Enable Login Guard from the security settings of your account to prevent logins to your account without an e-mail confirmation.
This is not enabled by default for older accounts, please make sure it is turned on. The company is based out of San Francisco, California and has been trusted by the crypto community since LocalBitcoins is unlike most of the sites in this guide. While most of these sites are centralized exchanges, LocalBitcoins is a peer-to-peer Bitcoin trading platform. This means you can trade physical cash, PayPal, gift cards, or other payment methods for bitcoin. LocalBitcoins also differs in that it does not automatically match orders.
They do, however, offer an escrow and reputation service to help keep both the buyer and seller safe. While LocalBitcoins has been used to trade big bucks, the system is not perfect. There have been cases of scammers using the website, so watch out! With that being said, LocalBitcoins features a rating system for all of their users. If you stick to trading with reputable users, chances are you'll be safe. One of the biggest concerns many of us have is…. How to Buy Bitcoin and Other Popular Cryptocurrencies With the prices of Bitcoin BTC and other altcoins alternative cryptocurrencies surging as cryptos become more mainstream, a new wave of enthused investors is flooding in from traditional markets like Wall Street.
The Best Sites and Bitcoin Exchanges. Coinbase Review Having successfully served over 9 million customers in 32 countries, Coinbase is the obvious choice for bitcoin beginners.
Compliant with the Bank Secrecy Act. Compliant with state money transmission laws and regulations. Gemini Review Gemini is another top-rated option. Coinmama Review Coinmama has long been a top choice of cryptocurrency investors wanting a fast and easy way to buy Bitcoins. Because of this, exchange rates can vary. When you buy bitcoin, you could theoretically get an exchange rate that matches the mid-market rate.
However, this is unlikely because many users want to make at least a little profit from selling bitcoin. Use the mid-market rate as a baseline to compare against the rates provided by your bank or transfer service. If you have bitcoin, you may be able to sell them for better than the mid-market rate. If you transfer to a third-party wallet, you will pay a fee of between 0. When you buy and sell bitcoin, it may take time to line up the right trade partners.
Bitcoin transactions are usually completed within 10 to 60 minutes. That means if the money transfer process goes smoothly, you could complete an entire transfer within a few hours — maybe even within one hour. Limits are set by individual buyers and sellers.
LocalBitcoins has exchangers in more than countries and 14, cities around the world. The LocalBitcoins head office is actually located in Helsinki, Finland. You can trade bitcoin in over currencies. Find a listing that sells bitcoin.
On LocalBitcoins, you can buy bitcoin online or in person. You can also post your own ad. This means that you send money to LocalBitcoins — not the seller. At the same time, your trade partner will send bitcoin to the platform. When both you and the seller have sent the funds, LocalBitcoins will release the bitcoin to you and the money to your trade partner. Send bitcoin to your recipient.
Your recipient sells the bitcoin. Finally, your recipient can sell the bitcoin on LocalBitcoins for the fiat currency of their choice. To get started with LocalBitcoins, sign up for a free account online. Just enter a username, an email address and a password. Once approved, you can begin trading bitcoin with users in your area and around the world.
Bitcoin is a digital currency that people can invest in and use as payment for goods. However, sending money over the platform is safe as long as you use the escrow service — LocalBitcoins will hold currency from both the buyer and seller before the funds are released. Finally, check the feedback for a buyer or seller before initiating any transaction. LocalBitcoins charges a fee to advertisers on its platform. Click here to cancel reply.