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Localbitcoins Review 2018 | Scam Or Legit? We've Checked!

Localbitcoins Review 2018 | Scam Or Legit? We've Checked!

Localbitcoins is an established exchange site that provides bitcoin cryptocurrency investors with an opportunity to meet and buy or sell Bitcoins. The site operates in a slightly different mode compared to the traditional cryptocurrency exchanges Unlike other trading sites, Localbitcoins does not need its clients to link their bank accounts to the site. What happens is that if you want to buy or sell Bitcoins, you set up an account with Localbitcoins then find interested buyers/sellers before you finalize the transaction. It is basically a peer-to-peer marketplace. The site provides a forum where BTC buyers and sellers meet to conduct to sell or buy bitcoin . Localbitcoins is based in Helsinki, Finland. The site began operations in June 2012. It has been in operation for over five years now. Localbitcoins is supported in the UK, US, China and in over 250 countries around the world. However, the site does not support operations in Germany and New York. Localbitcoins has no limitations in place on the transactions conducted on its site. When you find a suitable buyer or seller, you are at liberty to trade as much as you are able to. Though price will have a particular range, the seller is free to set their own prices. I found this to be a great thing since I can actually know beforehand whether I am making a profit or not. As long as the trader and the buyer reach an agreement on the price of bitcoin, theres no limit to how much I can sell or buy. When you sign up with Localbitcoins, you will notice that there are a few special features that the site has. I find the features helpful for the traders using Localbitcoins. These are: Buying and selling Bitcoin on Localbitcoins The question we need to ask here is: is Localbitcoins legit? Before you buy or sell on Localbitcoin Continue reading >>

Local Bitcoins Step-by-step Guide

Local Bitcoins Step-by-step Guide

Local Bitcoins is a reputable marketplace, much like ebay, where traders in your local area offer bitcoins for sale at various rates and transact with you directly. At Local Bitcoins you can buy with an online bank transfer, a cash deposit at a local bank or transfer agency such as Western Union, or by meeting the seller in person. Most bitcoin sellers will not accept paypal or credit card payment from a first time buyer. STEP 1 OPEN A FREE LOCALBITCOINS.COM ACCOUNT: Go to and click on the big green Sign up free button. Enter your details and click on Register Confirm your account by going to the email account you provided and following the link in the registration email they sent you. You now have a Wallet which enables you to buy and sell bitcoins and use them to purchase products. You can see how many bitcoins you have in your wallet next to the Bitcoin B at the right hand side of top tool bar on the home page. Click on the B and it will take you to a page that lets you send bitcoins and tells you your unique bitcoin address which consists of a long list of numbers and letters eg:12w3xe3f1bxVqaHCBjG89tuAMV2NX8dFbw To make a transaction you may need to update your profile information by registering your real name and verifying your phone number. To do this, click on the person icon on the right hand side of the top tool bar and scroll down to Edit profile. Then go to verification or Real Name. Log in to your localbitcoins.com account. Click on Buy Bitcoins on the left hand side of the tool bar at the top of the page. You will see a list of sellers in your local area with the following information: SELLER this gives you the name of the seller and their stats: (100+, 100%) indicates that they have made over 100 trades and have a 100% positive rating. We would recommend Continue reading >>

Localbitcoins Introduces New Fee Structure

Localbitcoins Introduces New Fee Structure

Localbitcoins Introduces New Fee Structure In the face of rising Bitcoin network transaction fees, the premier over-the-counter exchange Localbitcoins is enacting several changes to their fee structure. The company aims to cover the higher fees by spreading the cost fairly among customers. Also read: Popular Demand Spurs Goldman Sachs to Start Covering Bitcoin Localbitcoins has introduced a new fee structure which will affect all customers. Citing the rising Bitcoin network fees, the company announced on Tuesday the details of their new fees: In order divide the costs of handling Bitcoin transactions in a fair manner we are introducing deposit fees for incoming transactions. At the same time we will lower Bitcoin sending fees for all customers. The new fee system will be put into effect around 19th-21st June. The Finland -based company with bitcoin sellers and buyers in almost every country further explained that you can save further on the sending fee by timing your transaction to when the network is quiet. However, the new deposit fees will be larger than the new sending fees, they disclosed, adding that generally we expect it to be about 3x the amount of sending fees per transaction. The existing fee structure at Localbitcoins has the drawback of overcharging fees to users withdrawing bitcoins, but none to those depositing them. Sellers will now be covering two Bitcoin network fees; one for the cost of sending the coins into escrow and the second from escrow to the buyer. With the new fee system, we want to spread these costs more fairly between our customers the company wrote. Over the years, Localbitcoins found that a large part of each Bitcoin transaction fee was used to cover the costs related to deposits, not withdrawals. The company clarified: This means that Continue reading >>

Localbitcoins.com Review: Exchange Rates, Fees, Speed | Finder.com

Localbitcoins.com Review: Exchange Rates, Fees, Speed | Finder.com

If you want to make a bitcoin-based international money transfer, using LocalBitcoins.com is one of the best ways to do it. Bitcoin isnt usually the best medium to make an international money transfer. In fact, most of the time its actually slower and more expensive than other methods like forex services and even bank transfers. A different story emerges with LocalBitcoins.com, a peer-to-peer exchange. Because you trade bitcoins with other people, you can find attractive exchange rates as long as other traders are willing to offer them. And best of all: LocalBitcoins charges very few fees, if any. LocalBitcoins is such an effective option that you could theoretically complete an entire money transfer at no cost. Even if you dont get a deal that good, you could realistically walk away with a low-cost money transfer thats completed in as little as an hour. Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade. Cryptocurrencies are speculative, complex and involve significant risks they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed. Bitcoin exchange rates arent set by LocalBitcoins instead, theyre set by individual buyers and sellers on the platform. Because of this, exchange rates can vary. Continue reading >>

Review: Paxful Vs. Local Bitcoins

Review: Paxful Vs. Local Bitcoins

Last updated on January 2nd, 2018 at 12:00 am Today when it comes to buying Bitcoins you usually go to a Bitcoin broker (e.g. Coinbase and Coinmama) or a Bitcoin trading platform (e.g. Bitstamp and Kraken ). However some of these exchanges just dont cut it either due to their accepted payment methods or their geo restrictions (for example Coinabse doesnt accept people from many countries around the world). In this case you can always use something that can be best described as the eBay of buying Bitcoin. Networks of Bitcoin sellers from around the world that allow almost anyone to buy Bitcoins. Today there are two platforms that supply this kind of service Paxful and Local Bitcoins. Ive reviewed Local Bitcoins in the past and today I want to take the opportunity and review Paxful as well. In its core, Paxful is very similar to Local Bitcoins. You choose the amount of Bitcoins you want to buy and your payment method, and then you are presented with available sellers. Each seller has a reputation from past trades and each specifies their Bitcoin exchange rate. The exchange rate is much higher than what youll find at regulated trading platforms like Bitstamp and thats due to the fact that sellers are taking a much bigger risk when selling Bitcoin to strangers. Since Bitcoin transactions are irreversible, if someone pays the seller and then denies he ever conducted the transaction, the seller may end up with no Bitcoins and no payment. Also, some sellers allow you to buy Bitcoins with less traditional payment methods (e.g. Amazon gift cards, Skype voucher codes), so they tend to charge more for those. Finally the seller will also display any specific details he deems relevant forthe transaction. You will be able to see if the seller is currently online as well so you can b Continue reading >>

Localbitcoins.com: Fastest And Easiest Way To Buy And Sell Bitcoins

Localbitcoins.com: Fastest And Easiest Way To Buy And Sell Bitcoins

LocalBitcoins is a peer-to-peer Bitcoin exchange. We are a marketplace where users can buy and sell Bitcoins to and from each other. Users, called traders, create advertisements with the price and the payment method they want to offer. You can browse our website for trade advertisements and search for a payment method you prefer. You will find traders buying and selling Bitcoins online for more than 60 different payment methods. If you're new to LocalBitcoins and want to buy Bitcoins, please take a look at our how to buy guide to learn how to buy Bitcoins. To help you get started with your first Bitcoin trade we've made two short guides to answer all your questions. If you are looking to buy bitcoins please take a look at our how to buy Bitcoins guide . If you are looking to sell bitcoins please take a look at our how to sell Bitcoins guide . All online trades are protected by escrow. When a trade is started the amount of Bitcoins for the trade is automatically reserved from the seller's LocalBitcoins Wallet. This means that if the seller runs away with your money and does not release your Bitcoins LocalBitcoins.com support can release the Bitcoins to you from escrow. If you're selling Bitcoins, never release the escrow before you know that you have received money from the Bitcoin buyer. Please note that local trades do not have escrow enabled by default. Why is it so expensive to buy with Paypal? or Credit card? Why are some payment methods cheaper? One of the best features of Bitcoin is that it gives you control over your money, but it's also this feature that makes it very different from traditional money. Bitcoin transactions are irreversible, most traditional payment methods can be charged back. This creates risk for the person selling the Bitcoins, as PayPal or a Continue reading >>

Localbitcoins Review

Localbitcoins Review

LocalBitcoins is a P2P Bitcoin exchange. Buyers and sellers agree on trade terms, and LocalBitcoins is used as escrow. This post contains affiliate links. Before reading more, an important disclosure . LocalBitcoins is a global Bitcoin exchange that gives a lot of options to its users. Before getting into the details, here are some good and bad things to know about LocalBitcoins: LocalBitcoins is one of the most private ways to purchase bitcoins In some countries it is the only way to buy bitcoins It allows you to buy bitcoins with many payment methods There are many scams and you need to use caution Fees can be slightly high when buying with cash, since many people are willing to pay extra for the privacy LocalBitcoins offers limits and liquidity: How Much Are You Buying? LocalBitcoins itself does not impose any limits on its users. Users are free to decide on their own prices and limits. No buying or selling limits imposed by LocalBitcoins Some sellers will require ID verification for larger amounts LocalBitcoins is available in nearly every country. Liquidity will depend on the amount of buyers and sellers in your area. LocalBitcoins is not available in Germany or the state of New York. LocalBitcoins left New York due to the BitLicense. What Makes LocalBitcoins Different than Other Exchanges? The difference between Local Bitcoins and most exchanges is that LocalBitcoins does not require personal information when making good trades. Unlike other exchanges, which require ID verification and personal information, Local Bitcoins allows you to buy bitcoin without connecting your name to the bitcoin youre buying. Although LocalBitcoins allows for ANY payment method, cash deposit is the most popular method. This table compares it so some other cash exchanges. Continue reading >>

Localbitcoins - Wikipedia

Localbitcoins - Wikipedia

LocalBitcoins is a bitcoin startup company based in Helsinki , Finland . Its service facilitates over-the-counter trading of local currency for bitcoins. [5] Users post advertisements on the website, where they state exchange rates and payment methods for buying or selling bitcoins. Other users reply to these advertisements and agree to meet the person to buy bitcoins with cash [6] or pay with online banking. LocalBitcoins has a reputation and feedback mechanism for users and an escrow and conflict-resolution service. As of December 2013, LocalBitcoins has around 110,000 active traders with a trade volume of 1,4003,000 bitcoins per day. [7] LocalBitcoins was founded in June 2012 by Jeremias Kangas. He implemented an escrow system for the marketplace by the end of 2012. The website started generating revenue by early 2013. [4] In April 2014, the company announced that it would begin mass-producing low-cost bitcoin ATMs . [8] In the same month, LocalBitcoins suffered from a security breach, when 30 bitcoins (then worth US$15k) were stolen from its users. [9] In December 2014, the Federal Financial Supervisory Authority of Germany contacted LocalBitcoins about licensing issues, and LocalBitcoins ceased to operate in Germany. [10] LocalBitcoins said that it had about 8000 people actively using the service from Germany at the time. [10] In February 2014, two men from Florida were charged with violating state money laundering laws for using LocalBitcoins. [11] In April 2016, another two men from Louisiana , United States , a former chiropractor and his son, pleaded guilty to funneling money through an unlawful Bitcoin financial scheme. The men were using LocalBitcoins to advertise their services. [12] In August 2015, LocalBitcoins ceased to operate in New York state because Continue reading >>

How Safe Is Localbitcoins?

How Safe Is Localbitcoins?

I am using localbitcoins for the first time , deposited some btc , created an ad for western union payments and left it open. Few minutes later when I came , I noticed that 0,5 btc were deducted from my account, a random guy has left a message giving me his email and marked payment as complete, I started the dispute and did not release the bitcoins but they were already deducted. I quickly wrote a message to support explaining the situation , can someone tell me if this is an usual thing there and what are the chances of getting scammed like this? During the trade buyer made a scam attempt where he marked as payment complete , meanwhile during the process of trade bitcoins are not actually deducted but "reserved" and held until the payment is complete OR the payment window ends(which can take hours). It took me ~5 hours to get my bitcoins back , beware of scammers out there! Quote from: TryNinja on September 21, 2017, 05:24:38 PM No. Localbitcoins is legit and one of the oldest bitcoin p2p websites I know off. Here what I think could have happened: You had a malware on your computer, which allowed a hacker to get access over your account and steal your coins by doing a fake trade with himself. If that's the case, Localbitcoins can't do anything since Bitcoin transactions are irreversible. Which means that your coins are probably gone. I do care more of my account's security then I do for myself, I do daily scans, download and run files on vps , use hard to break passwords , two step authenticators so hacking is not an option , someone told me that it is not deducted but it is "reserved" and released once both sides accept the trade, so let's see , waiting for hours now , payment window was around 5 hours so it should close soon or ... Quote from: Anzylon on September 2 Continue reading >>

The Secret To Buying Bitcoin With Cash

The Secret To Buying Bitcoin With Cash

Lets face it getting ahold of your first bitcoin isnt easy. It may seem like buying a digital currency should be as simple as entering a payment amount and a credit card number into a website form. But if youre like thousands of beginners, youve discovered the surprising, disappointing truth: it doesnt work that way. Worse, buying bitcoin seems to either involve the digital equivalent of root canal or a shady cash deal with a total stranger. Fortunately, US residents can take advantage of another option. It does away with the need for credit cards, bank accounts, picture IDs, and biometric scans. It can work with as little as $5 cash. Best of all, this option eliminates the need for awkward meetups with total strangers. Localbitcoins helps match bitcoin buyers with sellers. Since 2012, this international service has earned the reputation as a top marketplace for in-person bitcoin trades. Localbitcoins counts over 110,000 active traders exchanging 1,400-3,000 bitcoins in daily volume . In-person meetings are only needed during the actual transfer of cash. Localbitcoins handles the rest of the transaction online. Fortunately, Localbitcoins supports a variety of payment methods. The one Ill show you here is called Cash Deposit. Cash Deposit offers a legal, effective, and reliable way to get your payment to a Localbitcoins seller without an in-person meeting. You may have previously deposited cash into your own bank account by filling in a deposit slip and handing both cash and the slip to a teller at a local branch. It turns out that anyone who knows your bank account number can give you money by doing the same thing. Banks generally dont care whether you own the account. Cash can be deposited in any branch nationwide - not just the one the account owner normally uses. Lo Continue reading >>

Localbitcoins.com Review Is It Scam Or Legit?

Localbitcoins.com Review Is It Scam Or Legit?

LocalBitcoins.com Review Is It Scam or Legit? Felix Kster November 8, 2017 834 no comments LocalBitcoins is a very interesting Finland-based crypto currency exchange. It is the largest peer-to-peer service, which means that in LocalBitcoins people from all around the world can exchange their local currency to Bitcoins. It also helps to match Bitcoin buyers and sellers who live close to each other, enabling face-to-face and online transactions. Users can post advertisements where they say their exchange rate and payment methods for purchasing or selling Bitcoins, and the other members can reply to these advertisements and agree to meet the person to purchase Bitcoins with cash. LocalBitcoins is also used as escrow, which is used to ensure fairness of every transaction made by the users. The company is one of the oldest exchanges in the industry. It was founded in 2012 by Jeremiah Kangas , a programmer and entrepreneur.LocalBitcoins currently operates in 248 countries and 13774 cities, and it is especially popular in the US, UK and China. LocalBitcoins respects the anonymous nature of Bitcoin. Thats why it doesnt require any personal information and it doesnt have a mandatory I.D. verification. The only thing needed for signup is the email address. As I already said, the exchange doesnt require any personal details. However, some buyers or sellers may request identification in order to proceed with the trade. When it comes to fiat currencies, users are free to trade in any currency. This means that if theres someone willing to accept your local fiat currency, you can purchase Bitcoins for it, which is pretty awesome. However, no altcoins are supported and the exchange allows only trading with fiat currency for Bitcoin. LocalBitcoins tends to keep things simple and leaves Continue reading >>

Localbitcoins Review

Localbitcoins Review

LocalBitcoins have been available for such quite a while. The site is an area to meet as well as to exchange Bitcoins, for both purchasers and dealers around the globe. It is tantamount to Craigslist as to exchanging Bitcoin. You will discover various bitcoin aspects in this article and this will provide directions also on the methods for picking a secure exchange in the website. LocalBitcoins dealers or purchasers utilize diverse payment methods. The fundamental ones are named below: Since youre purchasing and selling to individual people, a credit card cannot be utilized. The Paypal alternative though can be utilized to pay via your credit card during instances where you dont have Paypal balance. Various fees are necessary to pay which depends on the payment method you have chosen. One specific example is during Paypal usage to purchase LocalBitcoins that gives the seller a considerably more risk. The reason is primarily because Bitcoin isnt a typical digital or physical commodity you can buy online. It is to some degree a type of money and an untraceable one somehow. That is the primary reason why several credit card organizations (i.e. Paypal) cannot ensure Bitcoin exchanges offering BTC via credit card purchases. The typical way for having the best cost to purchase Bitcoin is utilizing Wire Transfers or Cash Deposits wherein its hard to have your payment reversed. If your intention is just to buy Bitcoins, then you can freely utilize LocalBitcoins. The website only takes one percent (1%) commission taken from the sellers. However, one should remember that when the BTC are in your own account already, a payment for the Basic network fees is gonna be required so that you store your money in your personal Bitcoin wallet . Its highly advised not to keep your Bitcoins Continue reading >>

Localbitcoins.com Introduces Deposit Fees

Localbitcoins.com Introduces Deposit Fees

LocalBitcoins.com introduces deposit fees LocalBitcoins.com, theover-the-counter trading service of local currency for bitcoins today announced updates to their transaction fee system due to the rise in Bitcoin network fees. Deposit fees for incoming transactions have been introduced, while the company will lower bitcoin sending fees for all customers. The new fee system will be put in to effect around June 19th-21st. With the old transaction fee system users paid a transaction fee when sending bitcoins out from LocalBitcoins to a different bitcoin wallet. This fee covers the cost for LocalBitcoins to send the transaction and the costs to manage the deposit(s) used to send a transaction. By introducing deposit fees customers who make many small deposits will pay a larger share of the overall transaction costs and customers who send out transactions will enjoy lower fees. All fees will be adjusted dynamically based on how congested the Bitcoin network is. With the new transaction fee system outgoing transfer fees will be smaller than with the old transaction fee system. Users can save further on the sending fee by timing a transaction when the network is quiet. Deposit fees will be dynamically adjusted based on how congested the Bitcoin network is. Deposit fees will be larger than the new sending fees, as of now it is expected to be about 3x the amount of sending fees per transaction. Bitcoin network fees have been rising along with the Bitcoin price and other exchanges have introduced the same sort of dynamic and higher fee structures . We try to develop tools that make our fees competitive while ensuring fairness in our transaction fee system. LocalBitcoins is committed to improving the situation. Well invest resources towards developing various offchain technologies, Continue reading >>

Localbitcoins.com: Fastest And Easiest Way To Buy And Sell Bitcoins

Localbitcoins.com: Fastest And Easiest Way To Buy And Sell Bitcoins

Registering, buying, and selling Bitcoin is completely free. LocalBitcoins users who create advertisements are charged a 1% fee for every completed trade. Transactions to wallets of other LocalBitcoins users are free. Transactions to other Bitcoin wallets are subject to Bitcoin network transaction fee. The current fee is visible on the wallet page under the heading Bitcoin Network Fees. The size of the fee changes depending on the current usage rate of the Bitcoin blockchain, we automatically adjust this fee based on the current network congestion to make sure your transactions are confirmed as quickly as possible. The transaction fee is paid from your LocalBitcoins wallet when you send a transaction. When sending to LocalBitcoins wallet, a bitcoin network fee is deducted from the deposit. The fee varies on how congested the Bitcoin Network is. If your deposit amount is smaller than the bitcoin deposit fee, the deposit will not be processed. The current sending fee is visible on the wallet page under the heading Incoming transactions and fees. When using our merchant invoicing services a fee of 0.5% is deducted from the paid invoice amount of each invoice. Also Bitcoin network deposit fee is deducted from the invoice amount, if the invoice is paid with an external transaction. Custom work, e.g. research of possible external problems, is 200 EUR/hour paid in Bitcoin at the current market rate. Minimum billable amount is 200 EUR. Continue reading >>

Localbitcoins Review: What You Need To Know

Localbitcoins Review: What You Need To Know

LocalBitcoins Review: What You Need to Know Local Bitcoins is a place where you can meet other people interested in buying and selling Bitcoins. As such, you should use caution when selecting traders to conduct a transaction with. While Local Bitcoins has measures in place to make sure youre not ripped off, filing a complaint can be frustrating and time-consuming. What is the difference between LocalBitcoins and regular exchanges? Local Bitcoins is like the Craigslist of buying Bitcoins, as you're in charge of facilitating payment with the person you choose to buy from, whether that be through ACH deposit, PayPal, or direct payment in cash. This differs from traditional exchanges, where all values are swapped on the exchange and the exchange oversees the transaction. Does Localbitcoins charge for transactions? Sellers pay a fee of 1% while buyers garner no fee. LocalBitcoins has been around since 2012, connecting Bitcoin buyers and sellers on an open, peer-to-peer marketplace. There are plenty of reasons to recommend Local Bitcoins as a secure and easy-to-use trading platform. In this Local Bitcoins Review, Ill explain what I like about Local Bitcoins and how you can benefit from using the platform. Before we dive into the review, the most important point about using Local Bitcoins is to use good judgment. Local Bitcoins is not an exchange in the traditional sense. You dont enter your bank account information and buy Bitcoin. Instead, Local Bitcoins is a place where you can meet other people interested in buying and selling Bitcoins. As such, you should use caution when selecting traders to conduct a transaction with. While Local Bitcoins has measures in place to make sure youre not ripped off, filing a complaint can be frustrating and time-consuming. What Makes Local Continue reading >>

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