LoCoins - Buy and sell coins locally. Fast and safe!

[7jaka7]

LoCoins on Facebook | LoCoins website

I would like to introduce you to LoCoins - https://locoins.io/
It's a OTC service for buying and selling crypto currencies in your local shop.
Founders have already established a successful bitcoin ATM operator and local cryptocurrency promoter - Bitnik. They’re from Slovenia and love crypto!


HOW TO

The whole process of selling or buying cryptocurrencies with LoCoins is very simple.
For now they support 4 different currencies - Bitcoin, Ether, Litecoin and Bitcoin cash. More to come!
After you've created an account on their platform you only need to make 5 simple steps to buy/sell your coins.
This can take you less then 10 minutes (depends how close to shop you are and block confirmation time).
Of course their website is smart phone friendly.

BUY
1. You login to the LoCoins website.
2. Check for the closest shop or shop with minimal fees, whatever suit you best.
3. Set amount you want to buy and address to which you want coins to be sent.
4. Go to this shop.
5. Pay for your coins.
And you've successfully purchased coins!

SELL
1. You login to the LoCoins website.
2. Check for the closest shop or shop with minimal fees, whatever suit you best.
3. Set amount you want to sell.
4. Send coins and wait for confirmation.
4. Go to this shop.
5. Pick up cash.
And you've successfully sold your coins!

PLATFORM PICTURES

Homescreen: http://prntscr.com/kuz1ex
Example of available shops in Ljubljana: http://prntscr.com/kuz1iu
Setting up buy order: http://prntscr.com/kuz2i6
Setting up a sell order: http://prntscr.com/kuzomd

LIMITS, KYC, EXPANSION

Right now there is no KYC process, so there is a limit of 1000€ for buying and selling. They're integrating a KYC process as they're preparing for future regulations.
They are also actively collaborating with Slovenian government regarding crypto regulations so they're always working according to latest laws and even try to stay one step ahead of them.

Currently they're only operating in one country - Slovenia, where around 20 shops are already collaborating with them.
But after KYC process will be implemented in the platform they will be able to spread their business in other countries as well.

This is also one of the reasons I started this topic. If anyone is interested in selling/buying crypto with the help of LoCoins they can contact me or reply to this thread.
I am with touch with one of the founders so I will be able to help in any way. They are also planing on making some kind of affiliate program for those who will get new sellers. So stay tuned!
Don't be shy and let's make crypto available to everyone.

If you will contact them directly please tell them you saw this post on Bitcointalk.

[7jaka7]

I am not part of LoCoins team, just want to introduce this service on Bitcointalk.
If there is anything unclear or you think I should add something in OP please tell me and I'll fix it as soon as possible.
LATEST ANNOUNCEMENTS:

[7jaka7]

So in order to start a discussion I wanted to share my personal experience with LoCoins.
Yesterday I sold some ETH using LoCoins. I already had account so I just needed to find suitable shop for selling. Since Ljubljana is not very big I've chosen a shop with smallest fees: MM GLOBAL - Trade WTC. They have same fees for all currencies either you are buying or selling them - 4%, which I think is not a lot for OTC trades. Definitely less then bitcoin ATM's.
Once I've selected the shop and amount I wanted to sell, I've sent ETH [1] to specified address and went to the shop. Meanwhile transaction got accepted, so when I came to shop (they had LoCoins logo beside their doors ) seller was already waiting for me. He knew exactly what I came for so we were done very quickly. And I was done. Quick and safe, just what they are promising. I think if I would already had an account made, be at the shop, use ETH (for it's fast confirmation times) I would be done in 2-3 minutes.

[1] Don't send ETH from exchanges! Also when buying don't put exchange address as address to receive coins!

[alko89]

How is LoCoins going to tackle the upcoming regulations and help keep their customers anonymous? Will buying crypto anonymously even be possible in the future?

[7jaka7]

How is LoCoins going to tackle the upcoming regulations and help keep their customers anonymous? Will buying crypto anonymously even be possible in the future?

They will work according to latest laws. So if regulations won't allow customers to be anonymous, they won't offer anonymous purchases.
There will probably be a maximum amount you can buy anonymously so I assume you will still be able to use LoCoins but only up to limits.
I think regulation is necessary for adoption of crypto as people will trust them more after proper rules will be set and there won't be any guessing what you can and can't do.

[alko89]

How is LoCoins going to tackle the upcoming regulations and help keep their customers anonymous? Will buying crypto anonymously even be possible in the future?

They will work according to latest laws. So if regulations won't allow customers to be anonymous, they won't offer anonymous purchases.
There will probably be a maximum amount you can buy anonymously so I assume you will still be able to use LoCoins but only up to limits.
I think regulation is necessary for adoption of crypto as people will trust them more after proper rules will be set and there won't be any guessing what you can and can't do.

I hope so. But as I see the regulations that are cumming it might become very difficult to buy any amount of crypto anonymously...

[skyslope]

Which local payment methods you accept

[FleurTunisienne]

As i understood, your services is only available for Slovenian users (users in Slovenia), so i want to know about future plans to extand the service for other countries and suggest you to translate this thread to Slovenian language and post it in local Slovenian board.

[7jaka7]

I hope so. But as I see the regulations that are cumming it might become very difficult to buy any amount of crypto anonymously...

All you need to buy crypto "anonymously" is a person who is willing to sell you crypto directly. No law can prohibit this.

Which local payment methods you accept

What do you mean? Please read OP first.

As i understood, your services is only available for Slovenian users (users in Slovenia), so i want to know about future plans to extand the service for other countries and suggest you to translate this thread to Slovenian language and post it in local Slovenian board.

Yes, for now it's only available in Slovenia. They would want to expand throughout whole Europe and beyond (neighbour countries will probably be priority for core team). But one of the problems is dealing with regulators/laws regarding crypto currencies in different countries (almost every country has different laws). Another difficulty they have is getting in touch with local shops/businesses. They can't just call someone or travel blindly and hope for the best.
So that's why they want to get some people from different countries to help them. They also offer some kind of affiliate program (for now it works more on case to case basis). If you (or anyone else) are (is) interested in connecting new partners with LoCoins you can write me a PM and I'll connect you with founders of LoCoins.
About translate and posting - I don't think it's really necessary to translate it in Slovene (at least for now) but I will think about it and when I'll have time I may write it. We don't have our own board and I've already posted link to this thread in Slovene topic.

[7jaka7]

LoCoins is having a giveaway on Facebook:
"We are GIVING AWAY 3 tickets for next week's Shift Money conference in Zagreb. 🤩
Give a suggestion to the following question in the comments and we will randomly select 3 lucky winners. 🎫🎫🎫
LoCoins currently operates in Slovenia, Croatia and Bosnia & Herzegovina. Where should we go next? 🤓🌎"
Comment their post on https://www.facebook.com/LoCoins.io.

[7jaka7]

BITNIK & LoCoins: moving towards locally accessible crypto↔fiat

Link to blog: https://medium.com/@Bitnik/bitnik-locoins-moving-towards-locally-accessible-crypto-fiat-9b9006b8b760