Bitcoin Forum

Hi, it has been a while since I last traded on localbitcoins. The last time I sold was in 2013 near the ath. However, now on localbitcoins I see many sellers asking for passport/ID and verification of bank account etc. So if I were to sell bitcoins should I ask for these too? Because back in 2013 trading wasn't as strict as this.

In the UK, can cash deposits/bank transfers be reversed?

Im not sure in the UK but unless the buyer has a great track record
its just safer to meet in person or to require all this stuff.

some people are even making you get on skype holding your ID just
as a safety measure. People are less likely to scam you if you make them
go through this horrible time taking process. But its for your safety against
thieves and scams

I've sold on Localbitcoins a few times in the past 2 couple of months and I've never felt the need to ask for ID. All you have to do if you want to be extra careful is to only sell to buyers with 1000+ successful trades and 100% positive feedback scores. There are usually plenty enough of those around.

If you think people will scam you, then you probably should do this. But if you still have trust on people just like 3 years ago (2013), then you shouldn't do that.

I wouldn't share my personal details for a cash deal. There are still folks who will trade anonymously and who aren't scamsters. I would do the work and get it done sans ID. But that's me.

Localbitcoin should be anonymous, compared to the other methods to exchange fiat to bitcoin and back. Some of these
users are just paranoid and over protective. You can even have some government agent on the other side of the trade, you will never know. ^hmmmm^

localbitcoin is just doing what they should do,preventing against fraud activities or transaction is a must,no word anonymous while making transaction to keep their user safe,i can imagine how their user accusing localbitcoins when scamming happen if they're less protective

very good topic, I complained much of this site, this site asked me ID and then when I wanted to check my ID, they told me: "not accept the ID of my country " ... and these high fees they charge are exploration.

I was 30 $ in paypal and exchanged on this site and gave me $ 12 in btc. I did it many times.

I know it must have security, but ask: paypal account screenshot, verified paypal, valid government issued ID, selfie, handwritten document and signed ... ask it all, have high rates. so I give up buying btc using paypal and not enter this site to buy btc.

In my view, not every users or traders are requesting for a verification. So if you need to be anonymous with the trader you can make trade with particular trader.

Usually passport/ID verifications are mandatory if you buy bitcoins because of the higher risk involved.

For selling btc,i guess it depends of the payment method and the reputation and trust.

Indeed and its also that its because lately there are a lot of scammers around the bitcoin and this is for the sellers just a point to make it clear people are not scamming and that its safely..
It also depends on how you are paying of course at localbitcoins.

Unless you are selling higher amount of coin and if the payment method used is reversible there is no need for all these documents. Better you find local guy willing to buy and deal face to face.

I've been using localbitcoins for quite a time now and last I bought was over 2 months ago.

I usually only trade with 1000+ success trades and 100% positive rating to avoid scam as much as possible. I do nott know how it works with UK if bank transfers can be reversed though.

You gotta really pay attention on the ads.

As some might actually abuse the right of that despite their efforts of preventing a scam.

I would go with a cash deal as much as possible depending on how many coins. You`ll notice their IP location and then selling in different countries looks very suspicious.

You can also go on the exchange thread on this forum and use escrow too.

Yes true. But even 100+ trades with 100% are good bunch of people if you trade with are genuine. Also somebody who reaches 100+ were some point in 100+ category to reach to that level. Trade with multiple users to have different experiences .

Localbitcoins all the way its a good pay method and they can be trusted without any doubts, they have a great service and there are some nice dealers over there.

Not all people there is trusted, AFAIK I ever see scammer with positive reputation, the positive reputation is pretty high too.