LocalBitcoin is a peer to peer bitcoins exchange service where you can buy bitcoins directly from the seller or sell bitcoins directly to the seller. Localbitcoins serves as an escrow service that holds the bitcoins for a smooth transaction. The process to buy and sell bitcoin on Localbitcoins is simple and fast.
Buy Bitcoins on LocalBitcoin
For example lets say Mr A wants to buy bitcoins from Mr B on Local Bitcoins.
Mr B already placed and advert on local bitcoins to sell bitcoins.
Mr A goes to the Mr B’s advert click buy , then type the amount of bitcoins he wants to buy and then place the order.
LocalBitcoins will hold the bitcoins value that Mr A wants to buy in escrow.
Mr B will respond by given Mr A his bank details via the chat box .
Mr A then payment into Mr B’s bank account.
Mr A then mark on Local bitcoin that I have paid.
Mr B checks his bank to make sure the money is there.
Mr B then releases the bitcoins from escrow to Mr A.
The bitcoins balance will then be available on Mr A’s local bitcoins wallet.
Sell Bitcoins on LocalBitcoin
To Sell the bitcoins on Local bitcoins you only need to reverse the process
Benefits of buying and selling bitcoin on LocalBitcoins.com
- The largest P2P Bitcoin trading platform, LocalBitcoins trade volume doubled during the past 12 months.
- More than one million users registered from 249 different countries, LocalBitcoins gives you access to a global marketplace.
- Quick and easy way to trade Bitcoins.
- Escrow protection for safe trading protects both the buyer and the seller.
- Reputation system for finding and filtering trustworthy customers.
- Dynamic pricing system with hundreds of sources ensures your prices are always up to date.
- API to allow you to make your own trading applications to automate trading.