Your Most Secure, Fair, And Transparent Platform
LocalBitcoins is a peer-to-peer Bitcoin marketplace that allows you to buy and sell bitcoins with cash or bank transfer without going through an exchange. The platform allows users to create ads and choose their preferred payment method for buying and selling bitcoins to and from other LocalBitcoins users.
After replying to the advertisements of sellers who are willing to accept your offer, you can then negotiate directly via trade chat, where escrow protection is automatically activated.
Escrow protects both parties by requiring them to confirm each other’s identity before completing the transaction. This way, buyers have peace of mind knowing that once the seller receives their money, they will send it to the buyer.
Once the deal has been completed, the funds are transferred instantly between accounts. LocalBitcoins also provides a web wallet from where you can manage all your transactions in one place. You can even use this service as a means of accepting payments on behalf of merchants.
The site was launched in 2012 and since then has grown into what it is today, a trusted community of over 1 million registered members worldwide. It’s no wonder why the company was voted “Best Peer To Peer Marketplace 2014″ at FinovateFall2014!
Top Features Of LocalBitcoin.com
Register For Free
Sign up using Facebook Connect if you already have an account there. If not, sign up using an email address. Then log in and start trading immediately.
Buy & Sell Bitcoins With Cash Or Bank Transfer
We allow our customers to pay us either with PayPal, Western Union Moneygram, or any major credit card such as Visa, MasterCard, American Express, etc. In addition, we also provide instant wire transfers.
Create Ads Where You Choose Your Preferred Payment Method
When creating an ad, you can select which payment methods you want to receive when someone buys from you. There are three options available: Paypal, Wire Transfers, and Credit Cards.
Negotiate Directly Via Trade Chat
Our system automatically creates a private message channel so that you can communicate privately with potential buyers. As soon as you agree upon terms, the sale goes through, and the funds are deposited into your account within minutes.
Web Wallet From Which You Can Manage All Transactions
Using the website’s built-in web wallet, you can view all your recent trades, make new ones, deposit, and withdraw funds.
Accept Payments On Behalf Of Merchants
Another great feature offered by LocalBitcoins is its ability to act as a merchant itself. So, instead of having to go through an intermediary like Coinbase, BitPay, or Circle, you can list yourself as a vendor and let people know about your services.
Use Escrow Protection
One of the essential features of LocalBitcoins is the automatic activation of escrow protection whenever two parties come together to complete a bitcoin purchase. This ensures that neither party loses out due to fraud or theft.
How To Start Trading With LocalBitcoins.com
Note: It may take 24 hours before the transaction gets verified. However, once it does get verified, you’ll see a notification pop up on your screen.
LocalBitcoin Commissions And Costs
0.25% + $0.50 per transaction.
1% + $0.20 per transaction.
Instant Exchange Rate
Currently, there is no charge for exchanging Bitcoin to USD.
International Currency Conversion
If you’re buying BTC outside the US, you might have to convert them first to dollars using another exchange platform.
LocalBitcoin Licenses And Regulations
The company has been licensed by FinCEN, which makes sure that users diligently follow anti-money laundering laws. Regulations also apply to those who want to operate from countries where doing so isn’t legal.
For example, if you live in New York but plan to use LocalBitcoins to conduct transactions in California, you need to comply with state regulations.
The platform offers customer support via email, phone calls, and chat. LocalBitcoins website says that emails are answered within 12 hours while chats are available between 9 am and 8 pm EST. Phone calls are taken care of during regular working hours only. You can find more details here.
What Makes LocalBitcoin Different From Other Trading Platforms?
There’s nothing like LocalBitcoins when it comes to trading Bitcoins online. Here are some reasons why people love the company.
We offer low commission rates compared to most other platforms out there. Our standard fee is just 0.5%. That’s less than half of what many others charge! That’s less than half of what many others charge!
No Middlemen Involved
Unlike traditional exchanges, LocalBitcoins doesn’t involve third parties at all. This means that both buyers and sellers pay directly to each other without having to go through intermediaries. This means that both buyers and sellers pay directly to each other without having to go through intermediaries.
With our instant payment system, you won’t be waiting long to receive funds after completing an order. The average time frame for receiving payments is about two days.
Easy Verification Process
All accounts are verified manually. There’s no automated screening process. So, even though we make every effort to ensure that everyone meets our standards, mistakes happen occasionally. But rest assured, But rest assured, we will never ask you to provide sensitive information.
Safe & Secure Environment
Your data is always safe with us. We encrypt everything sent over the internet. Also, we keep your private keys offline. They aren’t stored anywhere else except on your computer. They aren’t stored anywhere else except on your computer.
Whether you’re a new or experienced trader, we’ve got you covered. Just sign up and start making money right away. Whether you’re a novice or expert, we have something for you. Just sign up and get started today!
Escrow services protect traders against fraudsters. If someone tries to scam you, escrows will prevent them from stealing your coins until they complete their transaction.
Multiple Currencies Supported
In addition to USD, EUR, and GBP, LocalBitcoins supports multiple cryptocurrencies including Bitcoin, Litecoin, Dogecoin, Peercoin, QuarkCoin, Namecoin, Darkcoin, Blackcoin, Primecoin, Vertcoin, Nxt, NXT-ID, Counterparty, Bitshares, BitShares, HashCash, PPCoin, Reddcoin, Decentraland, MaidSafeCoin, Lisk, Stratis, Ripple, Ethereum Classic, Dash, Zcash, Monero, Byteball, Golem, Iconomi, Factom, Augur, Siacoin, Stor j, Steemit, Tether, Waves, WorldCoinIndex, OpenLedger, Digibyte, Qtum, EOS, Cardano, Stellar Lumens, VeChain, OmiseGo, QTUM, Binance Coin, KuCoin Shares, etc.…
Become LocalBitcoin Partners
LocalBitcoin is seeking partners, affiliates, and investors in various countries around the world. It doesn’t matter if you want to become a partner as an individual or company.
- Do you have bitcoins and would like to exchange them into local currency?
- Are you interested in becoming a partner or joining our affiliate program?
- Would you like to invest in LocalBitcoins?
If so, please get in touch with the company.
LocalBitcoins has been around since 2012 and has become one of the largest peer-to-peer bitcoin markets in existence. It’s also one of the safest places to buy bitcoins because users can verify each other before doing business together.
You don’t need any special skills to use this platform; anyone who wants to trade should find it easy enough to do so here.
The site offers two main ways to purchase Bitcoins: through bank transfer or by using credit cards. Both methods require registration but once registered, buying Bitcoins couldn’t be easier. Once you register, you select how much BTC you want to spend and then enter your email address, where you’ll receive instructions on how to send the required amount via wire transfer.
Bottom line, LocalBitcoin is one of the most effective, most secure, and transparent exchange platforms.
I hope this guide helped you understand how LocalBitcoins works. Thank you!