LocalBitcoins.com : An Introduction

Local Bitcoins

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LocalBitcoins is an escrow service which also helps to match bitcoin buyers and sellers. The most common method of payment for the purchase is cash deposit. However, users may advertise trades for whichever payment method they prefer.

Buying bitcoins via an in-person meeting, secured and facilitated by LocalBitcoins, may be one of the fastest and most private ways to buy bitcoins in any country.

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If you are interested in buying bitcoin from another user instead of going through a centralised exchange, you should consider using a marketplace like LocalBitcoins. A marketplace is useful for people who would not like to go through much KYC (Know-Your-Customer) identity verification. Marketplaces are usually riskier so be careful and only trade with those with good reviews. LocalBitcoins offer some basic protection with an escrow function.

Pros

Can be private, fast and easy
In-person trades require no personal information
Purchases of bitcoin can be made quickly via cash deposit
Cons

Beware of scams; always follow the rules!
Harder to buy large amounts of bitcoins compared to large exchanges
Slightly to significantly higher prices than regular exchanges; premium for higher privacy

 


Note: If you haven’t created an account on Zebpay or Unocoin or CoinSecure, you can grab the following referral code

Referral Code of Zebpay: REF06568678

Referral Code of Unocoin: U213061

Coupon Code of Unocoin: TTA200

Referral Code of CoinSecure: A67aTLwo7PNiLBysAU9h


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