Trading ON LocalBitcoins by International SWIFT

[limopc]

Hi,
I am new to this forum and to cryptocurrencies, just registered the a few days ago.

My question is:
If I trade on localbitcoins through international SWIFT, which takes time, might require going to the bank, how can the trade be finalised if I start the trade before or during a holiday, how can the buyer press the I have paid button, or the release coins button? The window normally lasts for 90 minutes only, not for several days.

So, how to do the trade?

Any help or guidance will be highly appreciated.

Thanks

[1714663756]

1714663756

[1714663756]

1714663756

[Bitfort]

The question is why are you using localbitcoins for international purchase? It's called LOCALbitcoins so you should be searching for nearby (local) trader.

When you want to use SWIFT then go directly to kraken, coinbase or bitstamp.

[dothebeats]

The question is why are you using localbitcoins for international purchase? It's called LOCALbitcoins so you should be searching for nearby (local) trader.

When you want to use SWIFT then go directly to kraken, coinbase or bitstamp.

Agreed, localbitcoins is used for person-to-person exchanges and not really a medium for online exchange just like what Kraken, Bitstamp and Coinbase offers. Also, idk where exactly are you situated since it varies from country to country. Virwox is also a good exchange, too, if you're looking for other options aside from what we've mentioned above.

[odolvlobo]

Despite what others have written, it is possible to use LocalBitcoins with SWIFT. However, SWIFT transfers take a while and there might be other more effective ways to buy.

In your case, set up the transaction when you are ready to send the money. Don't do it on the weekend or during a holiday or at night when the banks are closed, obviously.

Once the money is sent, mark the transaction as paid. You will probably need to give the seller information about the SWIFT transfer. After you have paid, the window is no longer relevant. The seller will release the bitcoins when the money is received.

In the future, I suggest asking Localbitcoins questions in the Localbitcoins forum. https://localbitcoins.com/forums/

[limopc]

Thanks
The reason I am asking about localbitcoins is it is more convenient for me. All exchanges require registration, ID validation.. a lot of hassles...

[limopc]

Despite what others have written, it is possible to use LocalBitcoins with SWIFT. However, SWIFT transfers take a while and there might be other more effective ways to buy.

In your case, set up the transaction when you are ready to send the money. Don't do it on the weekend or during a holiday or at night when the banks are closed, obviously.

Once the money is sent, mark the transaction as paid. You will probably need to give the seller information about the SWIFT transfer. After you have paid, the window is no longer relevant. The seller will release the bitcoins when the money is received.

In the future, I suggest asking Localbitcoins questions in the Localbitcoins forum. https://localbitcoins.com/forums/

Thanks, this really clarify the issue.

 You know some banks would do it manually or only during working days or hours, some may require to call me to validate the transaction.

So I assume I can make the swift transfer through internet banking (browser or app on mobile) even during weekend and I mark it paid regardless of when the bank would actually do the swift.

[limopc]

In the future, I suggest asking Localbitcoins questions in the Localbitcoins forum. https://localbitcoins.com/forums/

Honestly, I have already posted there, but it is not a "real" forum... it is a trading place more than a forum, and people asking about very specific issues, I prefer here.
Plus I hope you will accept me as a new friend and member for further discussion.

This forum looks much more interesting for me.

[limopc]

Despite what others have written, it is possible to use LocalBitcoins with SWIFT. However, SWIFT transfers take a while and there might be other more effective ways to buy.

In your case, set up the transaction when you are ready to send the money. Don't do it on the weekend or during a holiday or at night when the banks are closed, obviously.

Once the money is sent, mark the transaction as paid. You will probably need to give the seller information about the SWIFT transfer. After you have paid, the window is no longer relevant. The seller will release the bitcoins when the money is received.

In the future, I suggest asking Localbitcoins questions in the Localbitcoins forum. https://localbitcoins.com/forums/

Thanks, this really clarify the issue.

 You know some banks would do it manually or only during working days or hours, some may require to call me to validate the transaction.

So I assume I can make the swift transfer through internet banking (browser or app on mobile) even during weekend and I mark it paid regardless of when the bank would actually do the swift.

Sorry, but still hope someone can answer my question:
"So I assume I can make the swift transfer through internet banking (browser or app on mobile) even during weekend and I mark it paid regardless of when the bank would actually do the swift."

[limopc]

I hope to receive an answer.
So, I do the transfer through mobile app or web while I am at home, then I mark paid.
Still, the money will take a few days to reach the seller. He only releases the bitcoins after he actually sees the money in his account after a few days, after the transaction window expires. Is this possible?

[LewisPirenne]

Do you use an escrow?  Is it a vendor on LocalBitcoin that did a lot of T/T SWIFT type transaction and with good feedback?  Have you perform trade with the said person before?
Otherwise, you might not receive your coins even after sending them the money.

Assuming answers for above are yes, then you should have a copy of T/T SWIFT instruction from your bank that you can fax (if you have their fax number) or take a photo to email them, so they can track the transaction from their end.  Once the money arrive in their bank, they should release the coins and inform you the BTC txid.