Local bitcoin reviews

local bitcoin reviews

However, that changed in as they had to comply with worldwide government regulations. Local bitcoin reviews KYC process is just like on any other exchange — you need to upload a government issued document along with another written document like a electricity bill or similar public service bill that confirms your address.

local bitcoin reviews

You also need to make a selfie with your local bitcoin reviews. On average, it takes less than 2 days for Localbitcoin support to process and verify your information. When it comes to fiat currencies, users are free to trade in any currency.

local bitcoin reviews

However, no altcoins are supported and the local bitcoin reviews allows only trading with fiat currency for Bitcoin. Transaction Fees LocalBitcoins tends to keep things simple and leaves everything to the users.

local bitcoin reviews

Keep in mind that standard Bitcoin network fees apply for all transactions. Instead, they charge higher exchange rates, so when making a trade, take that into account.


Read our updated guide on best crypto trading bots. The traders post ads on the platform, stating accepted payment methods and exchange rates for purchasing or selling Bitcoins.

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Other users reply to these ads. They arrange to meet the trader in order to make a transaction, online or in person.

You can also think of it as an eBay for bitcoins but stick around to see it for yourself why I am saying so. And in this preview, you can see the buyers and sellers list in the above and below image. This means that if the seller runs away with your money and does not release your Bitcoins, LocalBitcoins. Source: LocalBitcoins.

LocalBitcoins also has a feedback mechanism and reputation system to help the users distinguish the legit traders from the scammers. The trading platform also offers a conflict-resolution service which helps users overcome any misunderstandings, and an escrow service in order to help establish trust between the parties.

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local bitcoin reviews

Experts believe this will happen again inthe only question is which coin do you bet on? My friend and cryptocurrency expert Dirk is personally betting on 3 under-the-radar cryptocurrencies for huge ROI in Click here to learn what these coins are watch till the end of the presentation.

February Scammers! Some people were able to get some back after deleting their account and waiting 14 days!! Beware nnamdi November been trying to get a hold of them since sep ; now in november still no response received.

These are some of the things that you should keep your eye on when it comes to trading. Instead, you should look for users who are actively selling Bitcoins.

local bitcoin reviews

When it comes to communication, you should send a message to the seller requesting a trade and wait for their response. You should use only the LocalBitcoins interface. Read our updated review of Coinmama exchange here.