How to buy Bitcoins using LocalBitcoins
Today we want to show you how to buy bitcoins from your peers without the need to deposit national currencies or provide personal information. We are talking about LocalBitcoins, a p2p Bitcoin exchange that allows users to buy and sell from each other for basically every payment method available. This is a prefered exchange among deep web users, since it protects your privacy to a certain degree as it does not require you to provide any personal information or documents. Of course, this method is not infallible as it requires you to reveal your identity to the person selling Bitcoin. You can also sell your btc on LocalBitcoins. LocalBitcoins charges a 1% fee to the user that posts the trade. All other trades are free of charge.
Letâs get started
Create an account
Step 1: Click here to register an account with LocalbBitcoins. Click âSign up freeâ
Step 2: Enter your information and click âRegisterâ
Step 3: Confirm your email and log in.
Now itâs time to buy some Bitcoin. Ideally, you will want to choose cash in person as itâs the most untraceable way to exchange money. You can also choose to create your own order with your preferred price or to take one that has been previously created by someone. Remember that since users are providing a service in selling you Bitcoin, they will charge a premium on the market price. This premium will change according to the type of payment method, user reputation, and quality of service. Ideally, youâll want to use your best judgement to make a reasonable choice between price and the type of seller.
Never try to haggle with the seller or change the terms. It will probably not happen and the seller will not appreciate it.
Step 1: Enter the amount (1) and currency you want to buy your Bitcoin with (2), the location (3), and the type of payment method (4). We are going to choose cash in hand.
Step 2: Click âSearchâ
Step 3: Select an offer that best fits your needs according to distance, price and seller reputation. Then click âBuyâ
The seller reputation is described in from of his name. The first number is the number of trades and the % is the number percentage of positive feedback. (In this example, the seller has more than 100 trades with 100% feedback)
Step 4: Make sure you read the terms of the trade (1) and agree with them before proceeding. Then select the amount of BTC you want to buy (2) and click âSend trade requestâ (3)
You will begin a chat with the seller. Follow the sellerâs instructions to complete the trade in person. His Bitcoin will remain in escrow until the transaction is complete, after which you can withdraw them to a personal wallet.
Create an Order
If you donât like any of the available orders, you can always create your own. If anyone is interested they will open it and follow your terms. Remember that it may take a very long time for someone to take your order, depending on the price, location and quantity.
Step 1: Click âPost tradeâ
Step 2: Fill in your preferred settings and click âPublish advertisementâ at the bottom of the page
Step 3: Wait for someone to take your order and chat with that person to agree on a location and time.
It is far more complicated to create an order than to take one, so make sure youâre prepared to walk the âcustomerâ through the process. If not, you can always just take an order, which is much more simple. Furthermore, trades are free for the one that takes the order, while the poster has to pay a 1% fee.