Localbitcoins is a Bitcoin Peer-to-Peer trading platform. They are truly de-centralized, embracing the true nature of Bitcoin. At Localbitcoins, you trade directly with other people, making it the most efficient way to buy Bitcoins!
LocalBitcoins is probably the best place to buy Bitcoins today. Even if you wanted to talk bad about them, you can’t. They do EVERYTHING right, and that is not an exaggeration. All the problems you may have experienced at other exchanges, you will not encounter them here.
What makes LocalBitcoins the best place to buy Bitcoins?
Peer-to-Peer Transactions: At LocalBitcoins , you are dealing with “Humans”.
Instant Access to Funds: Listen carefully. You can literally have Bitcoins within a few minutes of creating your account.
Complete Control of Funds: At Localbitcoins, once you withdraw funds from your wallet, it is INSTANTLY sent out. There is no processing time, meaning Localbitcoins does not need to verify your withdrawal!
Top-Tier Customer Support*: This is huge. The biggest problem with exchanges nowadays is there lack of customer support. LocalBitcoins has a great team ready to take care of all your problems. You are in direct contact with a customer support agent.
BulletProof Security: LocalBitcoins has never been hacked. That’s all I need to say.
Quick and Minimal Verification: You only need verification if you want to trade with certain sellers.
- Countless Payment Methods Available: At Localbitcoins, you can pay with over 100 different types of payment methods.
Step 2. Register
- You will now have to enter a username, your e-mail, and a strong password (that you won’t forget!)
- An e-mail will be sent to you with a link to confirm your e-mail addrress.
- After clicking the e-mail, you will automatically be logged into your new account. You are now fully registered and ready to make a trade.
Step 3. Verification
- There are several verifications available, and there pretty simple. A full verification will take you only a few minutes.
- Identity Verification: This is the most important one. You simply have to upload a picture of your Passport or Drivers License. They take about 24-48 hours to review it.
- Phone Verification: You simply enter your phone number and verify the code sent to your phone.
- Real Name Verification: Enter your real name and hit confirm. Pretty easy. Only sellers who you open up a trade with can see your name.
Step 4. Begin Trade
On the main page, you will see a “Quick Buy” form.
- In the first input box, write how much you want to spend on Bitcoin and choose your currency.
- Then select your country.
- Then in the last drop down, you will be able to choose from over 100 different payment methods available. (Paypal, Western Union, Moneygram, Cash Deposit, and much more)
- Now press “Search”.
Step 5. Choose a Trader
When you click “Search”, a list of advertisements will come up matching your search criteria.
- Choose a trader with a good reputation score and a high amount of trades(Theres usually a few available).
- Theres a colored circle to the top right of the seller’s name. When you hover over it, it indicates the seller’s response time(5 Minutes: Green , 30 Minutes: Yellow , slower than 30 Minutes: Grey).
- Click the “Buy” button to view more information about the advertisement.
Step 6. Start the Trade
When you click the “Buy” button you will be directed to the seller’s advertisement. Its pretty much like Ebay.
- Read through the terms of the trade very carefully. If you don’t agree with them, you can go back and choose another advertisement.
- To start the trade, type in the “blue box” how much you want to buy($50 USD or $100 EU). The amount of Bitcoin will be calculated for you.
- Enter a message for the seller and click the “Send Trade Request” button to start the trade.
- In your message, you can say something like “Hi, I can make the payment within 15 minutes, please send over your exact account details”
- Be sure you’re ready to pay when you send the trade request! If you don’t pay before the payment window is over, the trade will be automatically cancelled!
Step 7. Make Payment
For whatever payment method you chose, make the payment as quick as possible. Also, be sure to double-check the seller’s payment information.
Once you have made the payment, click the “I have paid” button.
*Make sure you have proof you sent the payment! (Receipt, Transaction ID, etc..)
Step 8. Bitcoins!
Once you’ve marked the payment complete, your set! The seller will now verify your payment and release the funds! Depending on the seller, this is usually done within 5 minutes!
- Once the seller releases the Bitcoin, you will instantly see it in your wallet! You have full access to these Bitcoins and may do whatever you want with it!
- *What if the seller doesn’t release the Bitcoins? This is pretty rare and they almost never do not release it. Don’t worry though, Localbitcoins is monitoring every trade!