LocalBitcoins Question

[viking02]

I see the rate for selling bitcoins using localbitcoins is actually higher than selling it to circle or coinbase.


First of all, does anyone here have very good experience with localbitcoins?  Apparently there are people that would buy bitcoins and pay cash for it and even a higher rate?


If i do sell bitcoins through local bitcoins, it would be in new york.  Does anyone know of reputable users there?  I read online that lot of ppl have great and perfect feedback only to find out they have been scammed later on. 

[estiva]

Becareful with persons that are buying bitcoins with much higher price than market and he not have lot of reputation, they are possible scammers.
Localbitcoins have a searcher to find ads in your city and the payment method.
I only use localbitcoins twice for sell my btc and and I had no problem at the moment

[Cryptology]

There is nothing Localbitcoins can do to prevent a buyer from charging back on you after you've released the coins. Buyer reputation is a good proxy for safety but it is not a guarantee.

[Quickseller]

There is nothing Localbitcoins can do to prevent a buyer from charging back on you after you've released the coins. Buyer reputation is a good proxy for safety but it is not a guarantee.

This is why cash is kind when trading BTC, especially on LBC as it is impossible (afaik) to verify that someone is the original owner of the account. You should only accept payment methods that cannot be reversed and as based on cash.

You also need to be able to protect yourself against fraud by taking certain precautions when selling BTC, for example to make sure that the payment has been received prior to releasing escrow.

[darlingdarla]

I see the rate for selling bitcoins using localbitcoins is actually higher than selling it to circle or coinbase.


First of all, does anyone here have very good experience with localbitcoins?  Apparently there are people that would buy bitcoins and pay cash for it and even a higher rate?


If i do sell bitcoins through local bitcoins, it would be in new york.  Does anyone know of reputable users there?  I read online that lot of ppl have great and perfect feedback only to find out they have been scammed later on. 

You cannot sell Btc in New York without a Bitlicense. Local bitcoins policy. I trade there all day every day

[erikalui]

The prices are very high and especially the price to sell Skrill funds is 20-25% more than the rate of the market. I tried selling my coins on LBC but nobody responded to my trade as it was PM for BTC 1:1 trade and there people only want more than the market price. It's better to deal locally with buyers or trade here with an escrow.

[mr.relax]

Everything is true, but at LBC a lot of coins are traded.
So the prices there reflect more the market rates with different payment-systems than it does at most other places...
And there are some features that you cannot have at aforum, like IP-localisation,ID-verification, SMS-verification, 2FA-login.
You even see if the tradepartner is using Tor.

Yes accounts can be false, but with a common sense, its safer and much faster than at other peer2peer places.
just look the unbelievable amount of scammers here. Yes, at LBC are also scammers but not that much.
Actually its easy to trade 10btc/day there. Try it here and it may last forever and do tons of more work.
But its not a place for microtrading, for selling you need a reputation and always at least 0.4btc in the wallet.

[Mickeyb]

I see the rate for selling bitcoins using localbitcoins is actually higher than selling it to circle or coinbase.


First of all, does anyone here have very good experience with localbitcoins?  Apparently there are people that would buy bitcoins and pay cash for it and even a higher rate?


If i do sell bitcoins through local bitcoins, it would be in new york.  Does anyone know of reputable users there?  I read online that lot of ppl have great and perfect feedback only to find out they have been scammed later on. 

You cannot sell Btc in New York without a Bitlicense. Local bitcoins policy. I trade there all day every day

Yes, be very careful about this. This is probably a very bad idea. The US government is not kidding about selling Bitcoin.

Check this thread, I am sure you will give up on your idea after reading through it:

https://bitcointalk.org/index.php?topic=934268.0