Bitcoin Forum

Hi, I am trying to finalize my first transaction at localbitcoins.com , it would be in person and in cash

The seller 'claims' that the transfer is instant, no waiting like a wallet to wallet

I want to know if in fact that is true, and if so, should i be aware of any risk. Like say he transfers to my account at localbitcoins.com and I see it there, is there any risk at all there could be a problem with his bitcoins at that point?
and is he correct that normally when dealing with wallet to wallet (outside of localbitcoins.com) there is in fact a delay of even up to around an hour) but there isn't any delay when moving from 1 account at localbitcoins to another account.

thanks

I haven't tried before pal, But each and every new addresses will save in your own address list. and I don't feell there is any risk in LBC to LBc account transfers!!!

Seller probably does think you want to deal over the website and not in person.

On the website the deal is instant because the seller holds the bitcoin on the site and the buyer receives the bitcoins on his account. Then he can withdraw to his wallet.

I have done many face-to-face localbitcoins trades. The transfer from the seller's account to the buyer's account is instant because it is handled by the site and it is all done within LBC. When you transfer your bitcoins from LBC to your wallet, then it must go through the blockchain. But you can do that at your convenience.

If you can access LBC when you make the trade, you will see that you will be credited when the seller releases the bitcoins (but you may need to update the page).

If you don't have access to the site, you know that the bitcoins have been transferred to your account if the seller can tell you the verification code.