Bitcoin Forum

Hi, I am planning on doing some trading on Localbitcoins to make extra cash or Bitcoin on the side while working in an office. Is there a guide somewhere I could read? I do not want to straight up post my bids and asks without knowing what I am doing. Please help.

I heard that they charge 1% of the traded amount as fee.You would have to register yourself by providing your details.I think its the leading website in providing platform between the traders and sellers.You may find more details in their official website.

Hm.. Almost all of the tips were already here on forum and for the guidelines how to do simple buy and sell is in youtube .Goodluck and have a patience .

Watch out for Deepak Chawla at LBC, you will get scammed.
LBC should wipe him from the site.

I've now moved to Paxful and other dNet sites because of that problem that they can't seem to resolve.

Please note that there are tons of scammers in localbitcoins web site. If you live in united states, plesae be careful for those scammers first.

Like other said almost you can see the tips if how to trade  or any some guide how to trade.. if you are just trading with local bitcoin and none altcoin  you can make a good profit the simple and old guide shared by almost other traders always buy with low price if you seen there is a large dump you should buy bitcoin and expect that the price will increase in few days or weeks and sell if you seen in the trends the price will be still increase better to wait and sell if the price will increase more but if you heard some bad news here in forum or outside like in btc news expect that the price of bitcoin will reduce..

be careful with the scam,
avoid to trust to much on message.
This forum has lots of good guidance.

I already have my documents and other information uploaded to the site. I already have used the site before and I was required to prove my identity to trade with more trustworthy traders on the site.


Right. Thanks, I will have a look later.

I don't use it very much except to sell my bitcoins at regular intervals for expenses. The only advice I would say is to only fill the online buy orders because of the escrow, where you only release bitcoins after the buyer has paid (in my case I use online bank transfer). I may get about 2-3% less than other offers but I would never make a trade that doesn't use escrow. I recommend that as minimum to prevent being scammed.

I would assume the same for posting sell/buy orders. There are fees involved, but as you'll find on LBC, the fees are priced in anyway, so you're still likely to make more than when using non P2P exchangers.

I appreciate your motivation for bitcoin, If you want to make some investments in bitcoins then I am very glad to tell you that it is the right time to make this happen, All you need to do is invest and wait for you dream price and when it come simply go sell your bitcoins and get rich.

You should be very careful with reversible payment methods like PayPal, Skrill, etc.
Because there you have 2 main problems:
1. The other user may reverse the payment and/or fill a complain for hacked account and get your coins + get back his payment.
2. Skrill have the common practice to require proof of transfers when bitcoin is involved. And you may ended with locked account+money.

Trade on localbitcoin is like trade/ exchange on bitcointalk on currency exchange section, that's you exchange bitcoins to fiat money with use some method of payment are like perfect money, okpay, Paypal and any other method payment, of course you can apply the fees for the people who want to trade with you, that is why bitcoin's price on there different with common markets.

I was recently given a vouch copy to a guide here (https://bitcointalk.org/index.php?topic=2046585.0).  Despite the hyperbolic title, I thought the guide contained quite a lot of useful content.  You can read my thoughts in more detail on the thread.

Always be wary of guides and their sellers though, including Razick.  Many of these guides get leaked and sold over and over again for barely $5 on Black Hat World and other places.

Local bitcoin, despite its popularity over the years, depending on the country, that place is infested with scammers and because you dont know who you are dealing with there is nothing you can do about it. And even if the scammer is reported and his account deactivated, it does not take long tomake a new account then by recommendations from the same league of scammers in other to dupe unsuspecting individuals. These are issues that are being faced over there that I just decide to stay away and I advise you to be very careful.

If you really don't how to trade, don't do it because trading is an unpredictable job. We need a lot information on it before we start. About bidding, this is my advice for you, buy at low peak or in the deep price but you need know that the cryptocurrency that you wanted to trade is legit. Then sell it high price at any but make sure you earn profit on it. It will be helful advice for you as a trader.

They have a pretty extensive tutorial on their website, you know.
Have a look at this page: https://localbitcoins.com/guides/how-to-sell-bitcoins-online or  https://localbitcoins.com/guides/how-to-sell-bitcoins

Make sure you do enough research of your competitors first and lowball their offers to get some good reviews from customers.
You need to build a good reputation before you can start start making a decent profit, at least that's how I see it.

Nice step before investing into high risk environment. The market is very simple, you have to specific your deal in the profile by setting up your own price of bitcoin which needs to precise and against the other people around the website. Secondly you can open the bid or let others search your profile for opening of trade. Once this is done, you guys can chat securely on the website chat box. Mostly locals will ask for number immediately and will soeak over the phone if you are comfortable about it. Then there will be negotiations and finalisation of price. After this you can finish the trade by exchanging money and coins

Good thing that you do inquire here first on this forum before tending to jump on lending range. As most people said here be careful on transaction on people who do ask for loan. There are lots of scammers on that place.If you are careless to trust you will surely lose up your money. Always seek on most reputable persons and don't fall on scammers. So watch out carefully.

Bro have you thought of trading your money on altcoins instead of trading it into localBitcoin.

That website will charge you 1% of the fees and you will have to be very competitive to get any deal done. There are big players on the site who has gained lots of trust and they capture the market quickly. You will need to lots of efforts in creating the profile and that trust mark to get many deals.

Their is nothing much you have to do, just open your account and give your details and get full account confirmation. Just place your buying and selling oders, Now they are charging incoming bitcoin transaction also. so you have to be sure for that also.

I am not active on localbitcoins in these days but I can surely say that it is one of the best ways to earn profits in trading. Make sure you are starting with the less amount limits and higher options of trusted payment options. I have seen traders are charging anywhere between from 1% up to 30% commission for the transactions by offering multiple modes of trusted payments and trade with reputed members to maintain the security of your capital. Be super flexible with the communication and time to attract maximum trades.

With localbitcoins the trading process is quiet simple and there is not much of complications if you have a good knowledge to make a calculation on the profit to be earned based on the price volatility. I have gone through the trading platform and observed it and haven't given a try as I was new to the digital currency network.

yes, He is in need of working hard. For grabbing big deals, he needs to win the trust of investors in the market and be active for the maximum time. Once he developed goo trust on the site, will start making big deals. All he needs is to stay honest and loyal to his work. His efforts are definitely going to pay him off.

You could find the guide lines in that website itself.I think they charge about 1% on the traded value as fee.To register there,you would have to give your personal details.Its available in most of the countries.There is no need for you to be online any time there.If you are not free,then you could also be in offline.

I don't know but the most of people are using these methods so I'm also using that method I would like to say that nothing had happened to me right now because I'm totally safe and also waiting for bitcoin ATM card that I have use that card as I use banks card because it would be more easy for me so waiting for bitcoin response that they will lunch or not.

If you really want to make some trade for you to have some extra source of income, I think you need to think about this things several times. It is too risky actually. I don't or I'm not sure if this link could help out your concerns here https://bitcointalk.org/index.php?topic=1024457.msg11085774#msg11085774