Localbitcoins Review

LocalBitcoins.com is a Bitcoin trading marketplace where folks from all over the world, including The United States of America, can buy, sell, and trade Bitcoins. Sign up for LocalBitcoins.com for free and start to buy, sell, or trade Bitcoins today. In this Localbitcoins review, we will discuss the following:

1. Review
2. Features
3. Fees
4. Analysis
5. Things To Avoid
6. Payment Methods
7. Security
8. Customer Support
9. FAQ

Localbitcoins.com Review

LocalBitcoins is a Finland-based crypto currency exchange. It is the largest peer-to-peer service, which means that people from all around the world can exchange their local currency to Bitcoins.Bitcoin buyers and sellers who live close to each other can benefit from face-to-face or online transactions.

Users can post advertisements with their exchange rate and payment methods for purchasing or selling Bitcoins. Other members can reply to these advertisements and agree to meet the person to purchase Bitcoins with cash. LocalBitcoins is also used to make sure that every transaction between users is fair.

LocalBitcoins is a company that was founded in 2012 by Jeremiah Kangas. He is a programmer and entrepreneur.

The company operates in 248 countries and 13774 cities. It is especially popular in the US, UK and China.

Online Transactions And Their Fees

LocalBitcoins is a website that lets users trade Bitcoins. The website keeps things simple by leaving everything up to the users. The same goes for the transaction fees. A 1% fee is applied to all trades, and the seller pays the fee. T

his means that LocalBitcoins will be free to use if you’re only looking to buy cryptocurrencies.

Remember that when you make a trade, you will need to pay a fee to the Bitcoin network. The sellers themselves do not have to pay this fee, but they charge more for their services so take that into account when making your decision.

It is highly recommended to move your Bitcoins to your own secure Bitcoin wallet, rather than leave them lying around in LocalBitcoins’ wallet.

Key Features

For a long time, LocalBitcoins was the most popular way to trade Bitcoin. Today, it remains popular because it has these features:

One of the oldest bitcoin exchanges is LocalBitcoins. It has been in operation since 2012 and it is trusted by more than a million users worldwide.

The liquidity on this exchange is decent, even though there are many other exchanges that have copied its model. Buyers and sellers should look at the standard bitcoin network fees, Match bitcoin buyers always look at the seller’s transaction history.

Escrow service with a built-in reputation system makes it easy to find reputable buyers and sellers. It also helps identify suspicious offers.

Also, it allows fiat currencies for payment methods are reasonable exchange rates. At LocalBitcoins, people can find more reputable seller based solely in United Kingdom or any area. They accept phone calls once you use ID verification.

The platform is secure, although there have been several minor breaches over the years.

The LocalBitcoins team is working hard to make sure that Bitcoin is used in a responsible and legal way. This includes making sure that people who use the site are trustworthy and that the site follows all regulations.

LocalBitcoins offers a variety of payment options in different countries. You can use this platform to trade bitcoins with people in more than 248 countries.

LocalBitcoins Account Trading Platform Analysis

LocalBitcoins is not like a regular brokerage. It is more like a network that connects sellers with buyers in the local area. The traders post ads on the platform, and other users reply to these ads. They meet in person to make a transaction, online or offline.

LocalBitcoins also has a system to help users tell the difference between legit traders and scammers.

This system includes feedback and a reputation system.The trading platform also has a conflict-resolution service and an escrow service. These services help users to understand each other better and to trust each other more.

When trading on LocalBitcoins, it is important to be careful because there is a chance you could get scammed. Remember that the deal is made between individuals, so be very careful. Make sure to watch out for these things when trading.

Check the seller’s qualifications to make sure he meets these requirements:

• Have traded over 100BTC in his lifetime
• Is trusted by at least ten people
• Has a minimum of one hundred trades
• Is a verified seller with a company account, email, and phone number.
• Has an actual feedback score of 98% or higher
• Has an account that is more than one year old

You should also not post ads to buy Bitcoins, because that will just attract a lot of scammers. Instead, you should look for people who are selling Bitcoins.

You shouldn’t choose a seller just because they have the lowest price. Look at the seller’s past transactions to see if they were successful. If you want to be sure the sale goes through, it might be worth paying 5% more to a reputable seller.

You’ll be good if you follow these rules. If you can’t find a seller that matches all of these, try to find the next best thing. The idea is that the seller has completed successful trades in the past.

After you have found a seller on LocalBitcoins, search their username on the forum to see if they have any complaints. If they do, you should avoid doing a trade with them.

When it comes to communication, send a message to the seller requesting a trade and wait for their response.

THINGS TO AVOID

• Send them more information before you receive a response from the seller. Because you will not be protected by LocalBitcoins’ escrow service, you should trade outside of the exchange.
• When you are buying or selling bitcoins, always use the LocalBitcoins interface to send payment information. Do not call, email or text about payments.

If you want to sell cryptocurrency to new users, it’s important to note that “power sellers” may refuse to sell to you if you don’t have enough feedback yet.

This means you may have to make a few small trades with less trustworthy sellers in order to get a positive feedback and be accepted into the “big league.”

The exchange does not support futures or derivates trading, margin trading, short selling or any other option.

Payment Methods Accepted on LocalBitcoins Escrow Service

Here is a list of the different payment methods accepted by LocalBitcoins sellers/buyers:

• PayPal
• Cash (in person)
• Webmoney
• Cash by mail
• Western Union
• Wire transfer

When you are buying and selling bitcoins to individuals, you will not be able to use a credit card.

However, if you don’t have a PayPal balance, you can use your credit card through the PayPal payment method. Depending on the payment method you choose, there are different fees.

For example, when using PayPal through LocalBitcoins is a higher risk for the person selling.

Why?

Bitcoin is different from any other thing that you can purchase online. It is a form of money, and it is different because it is not always easy to track where the money came from.

That is why some credit card companies (like PayPal) do not insure Bitcoin exchanges that sell Bitcoins using credit cards.

You can usually get a better price for Bitcoin if you use a payment method that is hard to reverse, such as wire transfers or cash deposits.

The Ease Of Use

LocalBitcoins.com has a great design and provides clear information. The website is easy to use and everything you need is easy to find. It’s also very fast, and you can sign up in just 20 seconds.

Is LocalBitcoins Safe? Security

Since security is a major concern for LocalBitcoins, the exchange has several security measures in place. These include using several measures to make trading safe, such as:

• Reputation system –All LocalBitcoins users have a reputation score and public history data documenting previous actions.
• The escrow service – When you request a trade, money is held on LocalBitcoins’ escrow service until the seller confirms your payment, at which point the virtual currency is sent to you.
• Two-factor authentication (2FA) –2FA is another security measure that LocalBitcoins uses. This is the same security feature that Google and banks use. When you log into your account, you will need to enter a PIN code that will be sent to your mobile phone. This prevents people from hacking into your account. However, this option is not enabled by default.
• Login Guard – Login Guard helps to protect your account by verifying that you are always logging in from the same browser. If you try to login from a different browser, you will need to verify your identity through email.
• Support and conflict resolution – LocalBitcoins has a support team that is ready to answer your questions. If there are any conflicts between buyers and sellers, the support team will help to resolve the issue.

Customer Support

LocalBitcoins’ support staff is highly efficient and competent, with an unusually large number of pathways to request help for a variety of issues. Remember, this is not like a typical brokerage business model.

The Local Bitcoin FAQ section is very helpful, and they typically answer questions within 1 hour. They also offer special forms to report phishing, lost two-factor authentication or password.

However, they only offer support via email. There is no phone support or live chat support available. However, their service is excellent overall.

Buyers and sellers that are actively selling bitcoin on the LocalBitcoins platform say it has secure trading platform for Bitcoin buyers, to sell bitcoin, local fiat currency, and for futures trading.

If you are actively selling bitcoins, you may want to look for a traditional trading platform for peer to peer trading that use fiat currencies.

Overall User Experience

LocalBitcoins team is a great platform, but sometimes the traders on it are not so great. Many users have gotten scammed on LocalBitcoins platform, primarily because of peer-to-peer interaction.

There are many scam reports all over the web.Unfortunately, this damaged the reputation of LocalBitcoins exchange.

The exchange is still a great place to purchase or sell Bitcoins. However, it is important for users to stay safe and educate themselves about the potential dangers of peer-to-peer trading.

LocalBitcoins Bitcoin network also has a section where people warn each other about scams and fraud.

People share their experiences with other traders on this platform. Some people say it is a scam company (just a scam) other users say they completed large successful trades.

Remember, get the seller’s username and don’t trade locally. Look at the trading fees and transaction fee on the peer to peer network.

Supported Countries

LocalBitcoins is available in most countries, but not in New York. New York has a special license that is required for LocalBitcoins to operate, so they left.

LocalBitcoins Review Summary

If you want to purchase Bitcoins locally and keep your privacy, the LocalBitcoins is a great way to do it. However, it might not be the best choice for beginners. Overall, this is a great exchange. Look at localbitcoins fees, exchange rates, support services, and feedback mechanism so you don’t start losing money as you don’t know where localbitcoins located.

How To Buy and Sell Bitcoins

Even the folks that have been playing real money slots or any casino game online for years ask people “how do I buy Bitcoins” and “How can I Sell Bitcoins”. LocalBitcoins.com allows their users to advertise the exchange rate that they want and their preferred payment method. The users can either reply to these advertisements or make their own buying or selling Bitcoin advertisements. Even better – the real money online slot players that use Bitcoin casinos and cash out their Bitcoins at LocalBitcoins.com can agree to met in person to make the exchange or do the transaction online with their digital / web e-wallet.

Benefits Of This Bitcoin Exchange

LocalBitcoins.com embraces the nature of Bitcoin, and is decentralized. They make dealing in Bitcoin easier for all people, not just the online casino customers that play slots for real money.

Most Bitcoin exchanges do not allow people to meet in person; LocalBitcoins.com adds a human element to buying, selling, and trading Bitcoin. Many of the folks that read Play Slots 4 Real Money have told us that they feel LocalBitcoins.com is one of the best places to buy, sell, and trade Bitcoins because it is more personable.

LocalBitcoins.com is not the stock exchange where you have to go through a broker to buy, sell, or trade. You can deal directly with the person you are buying, selling, or trading the Bitcoins to. This makes it easier to deposit and withdraw USA online and mobile slots casino funds, and is also more convenient for the folks that do not play online slots for real money. Sign up for LocalBitcoins.com for free and start to buy, sell, or trade Bitcoins today. Top

FAQ

Is LocalBitcoins legit?

LocalBitcoins used to not require any personal information or KYC data. However, in 2019 they had to comply with worldwide government regulations.

The KYC process is just like on any other exchange. You need to upload a government issued document that confirms your identity. You also need to upload another written document (like a electricity bill or similar public service bill) that confirms your address. Finally, you’ll need to snap a photo of yourself with your document. On average, Localbitcoin support takes less than two days to process and verify your information.

People can trade in any fiat currency. This means that people can use different currencies to buy Bitcoins. This is a good thing because it means that more people can use Bitcoin.

Is LocalBitcoins legal?

Not every state in the United States of America allows people to use LocalBitcoins. The states that allow it are listed on the website.

Is LocalBitcoins a wallet?

The LocalBitcoins Wallet is an online wallet. Transacting and receiving operations are not linked.

Can I use LocalBitcoins in USA?

LocalBitcoins does not offer its Services in every state in the United States. You can see a list of states on the LocalBitcoins website where Services are offered.