Bitcoin Forum

Ok so i was wondering if anyone has used Western Union to sell BTC on LocalBitcoins.
I have BTC on Bittrex so i have to send it to LBC for starters.
Not sure how long that will take either or if i have control over that.
What i am wondering is has anyone done that before with LBC and did the Fee's cost a lot ?
Did it take a long time ?

I don't want to use PP or a bank account.
A couple years back i used Interac eTransfer a bunch of times to sell Bitcoin.
That worked fast and easy.
But i need to use Western Union or similar this time though.

Once I got robbed on excursion and I needed emergency cash. So I sold some BTC to WU through localbitcoin.

I've got my money in just an hour. But this is seller depending. If the seller is in a country where you have online WU, you could get your money very fast. Otherwise the seller will need physically to go and fill up the form - from few hours to few days.

But in all cases, WU is one of the most expensive ways to get cash for your BTC. It's just for emergency IMO.

Ya i know it's expensive.. Paypal was worse for me in 2013.
It cost me $500 in fee's total sending the BTCe max of $2,500 two times ouch  :'(

I want to avoid using a bank.
Previously i have many good trades on LBC via direct bank transfer or interac etransfer.
This time i wanted to use WU but i am wondering how the buyer is going to do it.
I am guessing he will message the details saying money sent..
Once i got the details i got it covered.. i have received money via WU before.

I sent my BTC from Bittrex and it arrived pretty quick.. i checked after a few hours.
I started a trade on LBC with a guy now and he sent me a message saying it's qued.

Both of us have a great profile with perfect trust etc etc.
So i am guessing this will work out ok.
I figure i'd pay maybe a hair under $20 fee's selling $200 worth of BTC.. that's alright with me.
The guy has a nice buy price  (almost 5k per BTC coin) so the fee will be covered i figure.

Quick Update:
The fee's cost me $9 on about $220.
I got a high price for my BTC and the guy gave me no hassles and was fast.
I had cash in hand pretty damn quick.
Once i had the details he messaged me back i simply went to a WU location and got my money.
Then went home and released his BTC and left him positive feedback.. done.

Local bitcoin is totally safe you don't have to worry i had traded couple of times i tell my buyers to either send through western union (they always covered the fees) or the no fees way by directly transferring the money to me through an atm most prefer to that but some send. Transferring from bittrex to local bitcoin there is no issue as you are the seller you don't need any id proof instead you can even ask the buyer for documents.

Actually you need to be very careful and when you trade there. Especially with unrecoverable methods like WU.

Accounts and Invites sections is full of offers about selling trusted Localbitcoin accounts. IMO the only reason somebody to buy such account is to scam people exactly like WU payments.

You'll usually be able to get much better rates if you advertised yourself instead of responding to someone else's offer, because they are earning a fee for their service here. Bitcoin is much more fungible than fiat, meaning that you have the upper hand and you can easily demand in your advertisement to charge 3-4% more than spot rate as a fee.

Also just a tip for next time, if you just want cash you'd probably get better rates for local offers instead of WU(country-dependent, ofc).

Either way, you're happy about the trade, so i can't really say anything more. Just try out the stuff i said next time, LBC is a great platform to not only cash out/buy but also to make some nice profits as well.

Local bitcoins has a long list of like minded traders (and a long list of scammers) and their reputation ratings makes things clear.
The best thing is you get to know bitcoin traders in your neighborhood, which makes further trade easier.

That's the biggest financial issue we have in Canada.

All these freeloading bums want our government to support them, while refusing to contribute when they earn.

:/

Avoiding banks doesn't necessarily mean that you're avoiding taxes.

Considering that the bank's money doesn't even exist, it would be fairly reasonable to try and get money which does exist.  Even if the money isn't backed by anything, you know that you actually have it.

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