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Localbitcoins reviews of spirit

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You are essentially paying for higher security. It is highly recommended NOT to go with the cheapest price unless that seller is reputable. Visit Localbitcoins. Another major factor in the price is the method of payment. More convenience equals a higher price. Some sellers only want to sell a few hundred dollars. Others, typically verified companies, will sell tens of thousands of dollars worth. There are no verification requirements for LocalBitcoins; however, if you are making a large transaction, the seller may require it.

LocalBitcoins is one of the most popular exchanges on the web. Sign up, find a seller, and get some of those Bitcoins that everyone keeps talking about. Go to LocalBitcoins. Then enter the required information to register your LocalBitcoins account.

Locating a seller is simple. Here you can see all of the important details and enter the amount you wish to buy. The whole process is extremely straightforward. Most trades are completed extremely quickly unless there are extenuating circumstances. Community sentiment toward LBC is very favorable.

I actually found it funny how most users who posted complaints about scams were immediately blasted by other users. In fact, most reviews were very positive and sang the same song. Users generally liked how easy it was to use, the anonymity, and payment options. Complaints had to do with scams.

One Reddit user claimed his brother was scammed, but then later edited saying he got a refund. The support even showed up in the thread! The top 3 LocalBitcoins alternatives are:. Coinbase is the largest broker on the web and a starting point for most new Bitcoin users.

It offers a seamless buying experience, extremely user-friendly interface, tight security, and convenient payment options. You should almost never use CC on LocalBitcoins. Bitsquare is a truly decentralized Japanese P2P network. It is hosted by the series of nodes that run it, not on a central server. The degree of privacy is extremely high due to Tor hidden services and encryption. The escrow system is very efficient and protects both the buyer and seller.

This is slowly changing as it picks up steam. Coinmama is a reputable Israeli broker with highly touted support. On one side, Coinbase—polished, secure, and backed by major investors. On the other, LocalBitcoins—raw, anonymous, and run by a pair of brothers from Finland. One represents the corporate way of doing things, and the other fully embraces the nature of cryptocurrency. That being said, when it comes to Coinbase vs.

LocalBitcoins, both offer a great way to buy Bitcoins. Coinbase is by far the most popular way to buy Bitcoin, Ethereum, and Litecoin. This industry-leader is often compared directly with its upstart little brother. They serve different markets, though. And the results of my research might surprise you. It offers fast credit card payments, secure transactions, and a seamless buying experience.

The downside is its lack of currencies and heavy verification issues. Recently, their support has been buried under a flood of new registrants. Getting setup is so easy, and the site is safe enough with the right precautions. The fact that you can use nearly any payment option is what really did it for me.

Of course, it depends on what you are after. The security risks lead most users to do a lot of research before making a trade. Only the buyer can cancel a trade. As soon as the seller receives payment from you, they will disperse the coins. If the seller tries to run away with your money, support can release the BTC into your account.

This is because the seller is increasing the price to mitigate the risk of fraud. Credit card and PayPal transactions are easily reversible. This would bog the seller down in a dispute against you that could take months. The agreed upon amount of crytpo is automatically placed in escrow and held until the transaction is successfully completed. A: LocalBitcoins. A local trade is when you meet in person to exchange crypto for cash, gift cards, etc.

Face-to-face meetings of course carry risk, so always do this in a public place. First, create an account. Here is a screenshot to help. A: In short, yes. Thousands of transactions are carried out without incident every day. However, LocalBitcoins is riskier than other exchanges. If that bothers you, seek an alternative. A: It typically takes business days. They will get to you.

As someone relatively new to the cryptosphere myself, I liked how easy LocalBitcoins was. There are many different ways to buy bitcoin on Localbitcoins, as discussed above. I will outline two of the common methods, buying via bank transfer and buying in person. Many of the other methods of payment function along exactly the same lines, just involving a different transaction at the end, so these guides will be useful even if you plan on using a different payment method. First, though, I want to take a quick look at how you can select a seller for any kind of bitcoin transaction.

This part is really important because as LocalBitcoins is a decentralized exchange, it attracts more scammers. From the marketplace screen, you can find a list of sellers. A wide range of information about sellers is displayed: along with their name, you will see:.

It is recommended that you take a look at these detailed stats before choosing to buy from a particular seller, as this can help you determine whether or not they are trustworthy and legitimate. This detailed breakdown of a user should give you a more rounded picture of a buyer. Ideally, you want to be looking for people who have used the site for a long time, with a wide variety of verification methods completed. This way, you can be more confident that you are dealing with the person you think you are.

It is also worth checking that they have completed lots of transactions with different users, as this means the positive feedback has come from a wider pool of people. Purchasing via bank transfer allows you to buy bitcoin without leaving the comfort of your own home. This will give you a break down of every seller with an offer that matches. Alternatively, you can simply browse current offers from current sellers, and search out a deal that way.

Different sellers will have different criteria they require of you before they are willing to sell to you — for example, a lot of sellers using bank transfers will require that you have verified your real name on your account. Once you have found a seller that you like the look of, you can hit the buy button.

Enter exactly how much you are looking to buy, and also a message to the seller if you wish, and then you submit your trade request. This lets the seller know that you are interested and lets them know how much you are looking to buy. It is very important that you are able to pay once you have sent this request — by clicking you are agreeing to the sale, so be ready to pay. In this case, we are talking about a bank transfer, so at this point head over to your banking app and send the payment through to the address of the seller.

You will be informed exactly what to include as the reference code — do double check this before making the payment. This lets the seller know you have sent the payment. The seller will then verify your payment, and once they are satisfied then your bitcoin is released from escrow and into your wallet.

Buying bitcoin with cash in person follows the same basic procedure. You start by setting up the trade with the seller, and organizing a place and time to meet. Once you meet the seller, it is simply a case of them transferring the Bitcoin and you handing over the cash. In this way, it can actually feel more secure as you can see the seller and talk through the transactions.

Still, for some people, this idea of meeting and exchanging paper money for Bitcoin might seem a little daunting. Actually, though, it could not be simpler. As has already been mentioned, Localbitcoins offers a wide range of payment methods. In fact, at the time of writing, Localbitcoins lists over 45 different types of payment being taken by sellers! Broadly these fall into 5 categories:. Essentially, LocalBitcoins offer one of the most comprehensive set of transaction types in the world of cryptocurrency.

This makes them a great choice if you are needing to buy bitcoin in a less common way. The great news for buyers and sellers is that using Localbitcoins services is free. A network fee is incurred if you move bitcoins from the Localbitcoin wallet to another bitcoin wallet. Similarly, a fee is applied when you move bitcoin between Localbitcoin wallets too. At the time of writing, that fee is 0. A huge pro compared with buying through exchanges is that the competition between sellers keeps prices very competitive.

Many sellers will offer BTC at below the market rate, which means that you can find really good deals on cryptos. Localbitcoins has been in the game a while and has amassed a loyal user base. This means it gets more sellers and buyers than other peer-to-peer bitcoin services. Also, the fact that it has been around the crypto scene for so long has given it a good reputation. Its longevity does show that the system they use works: it is tried, tested and trusted. However, this is really little more than an aesthetic criticism — everything on the site works quickly and well.

Still, for some people, the fact that deals are person to person and do not go through a central exchange may be a little off-putting. Although the site takes lots of steps to ensure that it is safe, the risk of being scammed is still higher than using a recognized centralized exchange.

As such, some might feel it is just too risky, especially for purchasing a large amount of crypto. Finally, a big con here is that you can only buy bitcoin. Although you can use altcoins to buy BTC, there is no official option to buy altcoins. Some sellers will offer transfers of other cryptos, but this takes place outside of the Localbitcoins escrow system and is therefore not advisable.

If you are looking to invest in altcoins then, Localbitcoins is certainly not a one-stop shop. Still, you can buy bitcoin here often at a great rate and then use this BTC at other exchanges to get into other cryptocurrencies.

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Visit Localbitcoins. Another major factor in the price is the method of payment. More convenience equals a higher price. Some sellers only want to sell a few hundred dollars. Others, typically verified companies, will sell tens of thousands of dollars worth. There are no verification requirements for LocalBitcoins; however, if you are making a large transaction, the seller may require it.

LocalBitcoins is one of the most popular exchanges on the web. Sign up, find a seller, and get some of those Bitcoins that everyone keeps talking about. Go to LocalBitcoins. Then enter the required information to register your LocalBitcoins account. Locating a seller is simple. Here you can see all of the important details and enter the amount you wish to buy. The whole process is extremely straightforward. Most trades are completed extremely quickly unless there are extenuating circumstances.

Community sentiment toward LBC is very favorable. I actually found it funny how most users who posted complaints about scams were immediately blasted by other users. In fact, most reviews were very positive and sang the same song. Users generally liked how easy it was to use, the anonymity, and payment options. Complaints had to do with scams. One Reddit user claimed his brother was scammed, but then later edited saying he got a refund. The support even showed up in the thread!

The top 3 LocalBitcoins alternatives are:. Coinbase is the largest broker on the web and a starting point for most new Bitcoin users. It offers a seamless buying experience, extremely user-friendly interface, tight security, and convenient payment options. You should almost never use CC on LocalBitcoins. Bitsquare is a truly decentralized Japanese P2P network.

It is hosted by the series of nodes that run it, not on a central server. The degree of privacy is extremely high due to Tor hidden services and encryption. The escrow system is very efficient and protects both the buyer and seller. This is slowly changing as it picks up steam. Coinmama is a reputable Israeli broker with highly touted support. On one side, Coinbase—polished, secure, and backed by major investors. On the other, LocalBitcoins—raw, anonymous, and run by a pair of brothers from Finland.

One represents the corporate way of doing things, and the other fully embraces the nature of cryptocurrency. That being said, when it comes to Coinbase vs. LocalBitcoins, both offer a great way to buy Bitcoins. Coinbase is by far the most popular way to buy Bitcoin, Ethereum, and Litecoin. This industry-leader is often compared directly with its upstart little brother.

They serve different markets, though. And the results of my research might surprise you. It offers fast credit card payments, secure transactions, and a seamless buying experience. The downside is its lack of currencies and heavy verification issues. Recently, their support has been buried under a flood of new registrants.

Getting setup is so easy, and the site is safe enough with the right precautions. The fact that you can use nearly any payment option is what really did it for me. Of course, it depends on what you are after. The security risks lead most users to do a lot of research before making a trade.

Only the buyer can cancel a trade. As soon as the seller receives payment from you, they will disperse the coins. If the seller tries to run away with your money, support can release the BTC into your account. This is because the seller is increasing the price to mitigate the risk of fraud. Credit card and PayPal transactions are easily reversible. This would bog the seller down in a dispute against you that could take months. The agreed upon amount of crytpo is automatically placed in escrow and held until the transaction is successfully completed.

A: LocalBitcoins. A local trade is when you meet in person to exchange crypto for cash, gift cards, etc. Face-to-face meetings of course carry risk, so always do this in a public place. First, create an account. Here is a screenshot to help.

A: In short, yes. Thousands of transactions are carried out without incident every day. However, LocalBitcoins is riskier than other exchanges. If that bothers you, seek an alternative. A: It typically takes business days. They will get to you. As someone relatively new to the cryptosphere myself, I liked how easy LocalBitcoins was.

Just two steps separate you from buying your first Bitcoin. The flexibility of using everything from cash to PayPal though not recommended to Walmart gift cards is unmatched. This is very different from the business models used by centralized exchanges such as Binance. Sites like localbitcoins and eBay! Our company deals not only with crypto-currency mining, but also with their trade on internationalexchanges.

A community dedicated to Bitcoin, the currency of the Internet. Bitcoin is a distributed, worldwide, decentralized digital money. Bitcoins are issued and managed without any central authority whatsoever: there is no government, company, or bank in charge of Bitcoin. The above graph displays service status activity for Localbitcoins over the last 10 automatic checks.

The blue bar displays the response time, which is better when smaller. If no bar is displayed for a specific time it means that the service was down and the site was offline. LocalBitcoins is a popular Finnish crypto exchange, which has been operating steadily on the market since It provides a wide range of services for crypto trading. The company comes up with a possibility of secure storage of digital coins in crypto wallets. LocalBitcoins is P2P Bitcoin exchange with the largest network in the world.

Localbitcoins, Helsinki, Finland. Fast, safe and near you. To contact customer According to Tripadvisor travelers, these are the best ways to experience Point Venus: Morning half-day 4h Circle island tour From. There are a number of different ways to do a local bitcoin buy or sell through Local Bitcoins. Localbitcoins is somewhat of a veteran on the cryptocurrency scene — the site has been operating since The crypto startup is based in Helsinki, Finland, and started as a peer to peer exchange for Bitcoin that fits the spirit of Bitcoin as a decentralized system.

As such, the basic idea is that Localbitcoin functions like a marketplace, but any transactions that take place on the site. Turn your physical cash into bitcoin with this LocalBitcoin tutorial. To be more specific, the site is offered in English which is the number one language in the world, widely spoken and serving the vast majority of people , Russian and Spanish, French and Italian, Japanese, Portuguese and Chinese.

Did my first localbitcoins trade today Went really really well - we got coffee, sat down, I explained that people have disappeared with bitcoins before but it's harder to disappear with cash, so I proposed he hold onto my ID and give me the cash, and if I tried to screw him out of bitcoins then he could take my ID to the police station. Retrograde Conjunctions. LocalBitcoins has different verification tiers, with all except the lowest requiring users to provide ID documents.

Security features. LocalBitcoins has ongoing bug bounties and only gets involved in trades between users as the escrow provider. However, scams from other LocalBitcoins users are a constant problem. How to avoid scams on LocalBitcoins How to but and sell on localbitcoins is something i felt my followers needed. We all need access to our crypto currency, however with Wavecrest breaking Visa's terms and being pulled from their. LocalBitcoins also has a reputation system and feedback mechanism to help the members distinguish the legit traders from the scammers.

The trading platform also offers an escrow service in order to help establish trust between the parties, and a conflict-resolution service which helps users overcome any misunderstandings. You can unsubscribe at any point by contacting us or by clicking the unsubscribe link in an email sent by us.

LocalBitcoins is a P2P Bitcoin exchange. Buyers and sellers agree on trade terms, and LocalBitcoins is used as escrow. About LocalBitcoins. LocalBitcoins is a person-to-person bitcoin trading site. At LocalBitcoins, people from different countries can exchange their local currency to bitcoins. The site allows users to post advertisements where they state exchange rate and payment methods for buying or selling bitcoins.

Email notification has been sent. Venus Point has sent instructions to complete your registration to the inputted email address.

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There are two major exceptions; Local Bitcoins is not available in Germany or the state of New York due to regulations. Generally, reputable sellers will be able to command a few more dollars in the exchange rate than less experienced ones. Users can agree to buy Bitcoin using anything from iTunes gift cards to cash sent via mail.

As long as you and the trader agree on the cash transfer method, you can pay however you like. Cash deposits, money orders, and wire transfers are popular for this reason. If you allow someone to pay using a credit card via Paypal, that person can buy Bitcoin from you and then dispute the transaction with their credit card company, leaving you with no money.

Since many Local Bitcoins users are anonymous, it can be difficult or even impossible to track down someone who pulls such a scheme. This fee is added to the amount the seller places in escrow with Local Bitcoins as part of the deal-making process. If you want to maintain your anonymity, you can usually find other traders who are willing to execute trades without the identity verification.

I hope you enjoyed this Local Bitcoins review and found it helpful. As long as you exercise good judgment when selecting who to do deals with, Local Bitcoins can be a great platform for all your trading needs.

I recommend it as an easy way to get started in Bitcoin investing. In the early stages of Bitcoin development, most cryptocurrency enthusiasts tended to think that the original digital…. Even though it was founded in , a time when there were already established companies in the…. Ethereum 2.

Part meme, part functional token, dogecoin is like the class clown who got kicked out of school but who ended up becoming a billionaire anyway. Bennett is an editor at Coin Central and freelance technology writer specializing in blockchain, software development, and AI writing. Bennett Garner. What is LocalBitcoins? What is the difference between LocalBitcoins and regular exchanges? Does Localbitcoins charge for transactions? LocalBitcoins Rating. Visit LocalBitcoins.

Exchange Reviews. Newsletter Sidebar. This field is for validation purposes and should be left unchanged. December 11, Adam Stieb. Read More. How did Binance Grow So Fast? June 25, Adam Stieb. This will give you a break down of every seller with an offer that matches. Alternatively, you can simply browse current offers from current sellers, and search out a deal that way. Different sellers will have different criteria they require of you before they are willing to sell to you — for example, a lot of sellers using bank transfers will require that you have verified your real name on your account.

Once you have found a seller that you like the look of, you can hit the buy button. Enter exactly how much you are looking to buy, and also a message to the seller if you wish, and then you submit your trade request. This lets the seller know that you are interested and lets them know how much you are looking to buy. It is very important that you are able to pay once you have sent this request — by clicking you are agreeing to the sale, so be ready to pay.

In this case, we are talking about a bank transfer, so at this point head over to your banking app and send the payment through to the address of the seller. You will be informed exactly what to include as the reference code — do double check this before making the payment.

This lets the seller know you have sent the payment. The seller will then verify your payment, and once they are satisfied then your bitcoin is released from escrow and into your wallet. Buying bitcoin with cash in person follows the same basic procedure. You start by setting up the trade with the seller, and organizing a place and time to meet.

Once you meet the seller, it is simply a case of them transferring the Bitcoin and you handing over the cash. In this way, it can actually feel more secure as you can see the seller and talk through the transactions.

Still, for some people, this idea of meeting and exchanging paper money for Bitcoin might seem a little daunting. Actually, though, it could not be simpler. As has already been mentioned, Localbitcoins offers a wide range of payment methods. In fact, at the time of writing, Localbitcoins lists over 45 different types of payment being taken by sellers! Broadly these fall into 5 categories:. Essentially, LocalBitcoins offer one of the most comprehensive set of transaction types in the world of cryptocurrency.

This makes them a great choice if you are needing to buy bitcoin in a less common way. The great news for buyers and sellers is that using Localbitcoins services is free. A network fee is incurred if you move bitcoins from the Localbitcoin wallet to another bitcoin wallet.

Similarly, a fee is applied when you move bitcoin between Localbitcoin wallets too. At the time of writing, that fee is 0. A huge pro compared with buying through exchanges is that the competition between sellers keeps prices very competitive. Many sellers will offer BTC at below the market rate, which means that you can find really good deals on cryptos.

Localbitcoins has been in the game a while and has amassed a loyal user base. This means it gets more sellers and buyers than other peer-to-peer bitcoin services. Also, the fact that it has been around the crypto scene for so long has given it a good reputation. Its longevity does show that the system they use works: it is tried, tested and trusted. However, this is really little more than an aesthetic criticism — everything on the site works quickly and well.

Still, for some people, the fact that deals are person to person and do not go through a central exchange may be a little off-putting. Although the site takes lots of steps to ensure that it is safe, the risk of being scammed is still higher than using a recognized centralized exchange. As such, some might feel it is just too risky, especially for purchasing a large amount of crypto.

Finally, a big con here is that you can only buy bitcoin. Although you can use altcoins to buy BTC, there is no official option to buy altcoins. Some sellers will offer transfers of other cryptos, but this takes place outside of the Localbitcoins escrow system and is therefore not advisable. If you are looking to invest in altcoins then, Localbitcoins is certainly not a one-stop shop. Still, you can buy bitcoin here often at a great rate and then use this BTC at other exchanges to get into other cryptocurrencies.

If you are looking at buying or selling bitcoin and want a wide range of transaction options open to you, then Localbitcoins is definitely for you. If you are looking for a way to buy or sell bitcoins for cash, Localbitcoins is a great option. It is fast, safe and easy to use.

However, some will be put off by the peer to peer nature of Localbitcoins, as it does not feel as slick as the bigger centralized exchanges. But then, that is kind of the point of Localbitcoins, it places the power to buy and sell cryptocurrency in your own hands and gives you a huge amount of freedom in the process.

Further Reading At TotalCrypto. Tom is a cryptocurrency expert and investor from Edinburgh, United Kingdom, with over 5 years of experience in the field. He holds an MA in diplomacy and BA in politics from the University of Nottingham, giving him a firm understanding of the social implications and political factors in cryptocurrency.

He believes in long-term projects rather than any short term gains, and is a strong advocate of the future application of blockchain technology. Contact Tom: tom totalcrypto. Contents 1 Is Localbitcoins Safe? Sign Up To LocalBitcoins. This article must not be construed as investment advice.

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It is also worth checking that they have completed lots of transactions with different users, as this means the positive feedback has come from a wider pool of people. Purchasing via bank transfer allows you to buy bitcoin without leaving the comfort of your own home. This will give you a break down of every seller with an offer that matches.

Alternatively, you can simply browse current offers from current sellers, and search out a deal that way. Different sellers will have different criteria they require of you before they are willing to sell to you — for example, a lot of sellers using bank transfers will require that you have verified your real name on your account. Once you have found a seller that you like the look of, you can hit the buy button.

Enter exactly how much you are looking to buy, and also a message to the seller if you wish, and then you submit your trade request. This lets the seller know that you are interested and lets them know how much you are looking to buy. It is very important that you are able to pay once you have sent this request — by clicking you are agreeing to the sale, so be ready to pay.

In this case, we are talking about a bank transfer, so at this point head over to your banking app and send the payment through to the address of the seller. You will be informed exactly what to include as the reference code — do double check this before making the payment. This lets the seller know you have sent the payment. The seller will then verify your payment, and once they are satisfied then your bitcoin is released from escrow and into your wallet.

Buying bitcoin with cash in person follows the same basic procedure. You start by setting up the trade with the seller, and organizing a place and time to meet. Once you meet the seller, it is simply a case of them transferring the Bitcoin and you handing over the cash. In this way, it can actually feel more secure as you can see the seller and talk through the transactions.

Still, for some people, this idea of meeting and exchanging paper money for Bitcoin might seem a little daunting. Actually, though, it could not be simpler. As has already been mentioned, Localbitcoins offers a wide range of payment methods. In fact, at the time of writing, Localbitcoins lists over 45 different types of payment being taken by sellers!

Broadly these fall into 5 categories:. Essentially, LocalBitcoins offer one of the most comprehensive set of transaction types in the world of cryptocurrency. This makes them a great choice if you are needing to buy bitcoin in a less common way. The great news for buyers and sellers is that using Localbitcoins services is free.

A network fee is incurred if you move bitcoins from the Localbitcoin wallet to another bitcoin wallet. Similarly, a fee is applied when you move bitcoin between Localbitcoin wallets too. At the time of writing, that fee is 0. A huge pro compared with buying through exchanges is that the competition between sellers keeps prices very competitive. Many sellers will offer BTC at below the market rate, which means that you can find really good deals on cryptos.

Localbitcoins has been in the game a while and has amassed a loyal user base. This means it gets more sellers and buyers than other peer-to-peer bitcoin services. Also, the fact that it has been around the crypto scene for so long has given it a good reputation.

Its longevity does show that the system they use works: it is tried, tested and trusted. However, this is really little more than an aesthetic criticism — everything on the site works quickly and well. Still, for some people, the fact that deals are person to person and do not go through a central exchange may be a little off-putting. Although the site takes lots of steps to ensure that it is safe, the risk of being scammed is still higher than using a recognized centralized exchange. As such, some might feel it is just too risky, especially for purchasing a large amount of crypto.

Finally, a big con here is that you can only buy bitcoin. Although you can use altcoins to buy BTC, there is no official option to buy altcoins. Some sellers will offer transfers of other cryptos, but this takes place outside of the Localbitcoins escrow system and is therefore not advisable.

If you are looking to invest in altcoins then, Localbitcoins is certainly not a one-stop shop. Still, you can buy bitcoin here often at a great rate and then use this BTC at other exchanges to get into other cryptocurrencies. If you are looking at buying or selling bitcoin and want a wide range of transaction options open to you, then Localbitcoins is definitely for you.

If you are looking for a way to buy or sell bitcoins for cash, Localbitcoins is a great option. It is fast, safe and easy to use. However, some will be put off by the peer to peer nature of Localbitcoins, as it does not feel as slick as the bigger centralized exchanges. But then, that is kind of the point of Localbitcoins, it places the power to buy and sell cryptocurrency in your own hands and gives you a huge amount of freedom in the process.

Further Reading At TotalCrypto. Tom is a cryptocurrency expert and investor from Edinburgh, United Kingdom, with over 5 years of experience in the field. He holds an MA in diplomacy and BA in politics from the University of Nottingham, giving him a firm understanding of the social implications and political factors in cryptocurrency.

He believes in long-term projects rather than any short term gains, and is a strong advocate of the future application of blockchain technology. Contact Tom: tom totalcrypto. Contents 1 Is Localbitcoins Safe? It even suggests that you guys meet in person. All of this is done via a simple interface with a streamlined model. Thankfully, there are plenty of tools in place to help you make sound decisions.

LocalBitcoins is the most popular P2P network. This is a different model than brokers Coinbase or traditional exchanges Bittrex. A P2P network is a type of Bitcoin exchange where users deal directly with each other. With brokers or exchanges, the price of crypto is determined by a market rate and bought or sold at a fixed price directly via the platform.

With LocalBitcoins, the seller sets their own rate and requirements and buyers answer those ads. From there, you can either meet in person or use online payment options to complete the exchange with each other. Users create ads under usernames often anonymously and buyers respond. LocalBitcoins is not involved in the terms of the trade or payment processing.

It acts only as escrow during transactions remember this term. Your security depends on it. Sellers can set their payment methods, verification specs, price, and limits. Next to each username is the number of confirmed trades and feedback score. Check out this screenshot…. Payment, price, and limits are clearly visibile. Confirmed trades and feedback are visible under the arrows. Whatever CardsMoney is doing at the bottom must be working.

In general, buying and selling are a breeze. Once you make payment, the seller disperses the coins to your wallet. In the event of a dispute, support makes a decision. However, there are a few options you should almost never use. This Reddit thread offers some good advice. During my research I came across a lot of threads asking if LocalBitcoins was a scam. However, there are plenty of security measures in place to help users trade safely.

As one Reddit user aptly put it:. Some are riskier than others. Thankfully, LocalBitcoins helps you out. Here why LocalBitcoins is mostly safe. With a little bit of common sense, some extra research, and a few basic safety precautions, you can avoid most scams on the site. Always go through LocalBitcoins. The Fraud and Scam Warning forum is a great place to go for information about users.

The majority of transactions are completed successfully without incident. If LocalBitcoins is your first exposure to a P2P trading network, then the fee system might be a bit confusing. Unlike brokers or exchanges that set the price based on the market, on LocalBitcoins sellers set their own prices. In general, the more reputable a seller, the higher the price.

You are essentially paying for higher security. It is highly recommended NOT to go with the cheapest price unless that seller is reputable. Visit Localbitcoins. Another major factor in the price is the method of payment. More convenience equals a higher price. Some sellers only want to sell a few hundred dollars. Others, typically verified companies, will sell tens of thousands of dollars worth. There are no verification requirements for LocalBitcoins; however, if you are making a large transaction, the seller may require it.

LocalBitcoins is one of the most popular exchanges on the web. Sign up, find a seller, and get some of those Bitcoins that everyone keeps talking about. Go to LocalBitcoins. Then enter the required information to register your LocalBitcoins account. Locating a seller is simple. Here you can see all of the important details and enter the amount you wish to buy. The whole process is extremely straightforward. Most trades are completed extremely quickly unless there are extenuating circumstances.

Community sentiment toward LBC is very favorable. I actually found it funny how most users who posted complaints about scams were immediately blasted by other users. In fact, most reviews were very positive and sang the same song. Users generally liked how easy it was to use, the anonymity, and payment options.

Complaints had to do with scams. One Reddit user claimed his brother was scammed, but then later edited saying he got a refund. The support even showed up in the thread! The top 3 LocalBitcoins alternatives are:. Coinbase is the largest broker on the web and a starting point for most new Bitcoin users. It offers a seamless buying experience, extremely user-friendly interface, tight security, and convenient payment options. You should almost never use CC on LocalBitcoins. Bitsquare is a truly decentralized Japanese P2P network.

It is hosted by the series of nodes that run it, not on a central server. The degree of privacy is extremely high due to Tor hidden services and encryption. The escrow system is very efficient and protects both the buyer and seller.