Is This Trade Really Legit?

[iTruth]

Hello,

I'm new to bitcoin and I was at Localbitcoins.com and saw the following offer to purchase bitcoin: https://localbitcoins.com/ad/288343/cash-out-your-bitcoins-other-pre-paid-debit-card-prepaid-greendot So if I understand correctly this person is willing to pay $692.94 at the time of post for one bitcoin via an upload of cash to a Greendot card?

Is this correct and based on the buyers reputation would you consider this a safe transaction? What's the catch?

[1714174476]

1714174476

[1714174476]

1714174476

[1714174476]

1714174476

[1714174476]

1714174476

[unholycactus]

This seems to be the case, buyer has very good feedback.

Possible "catches"
1. Greendot might be very restrictive on how you spend your money.
2. Limits on how much you can receive from seller.
3. US only.
4. Possibly more that I can't think of.

[iTruth]

This seems to be the case, buyer has very good feedback.

Possible "catches"
1. Greendot might be very restrictive on how you spend your money.
2. Limits on how much you can receive from seller.
3. US only.
4. Possibly more that I can't think of.

Thanks so much for the reply. I'm in the US so the 3rd point won't be an issue for me but I'll contact Greendot and find out what my restrictions are on receiving money.

[iTruth]

I did some further digging and found out that I have a limit of $500 that I can receive for the day on a Greendot card, so how can I receive $700 from the buyer then?

There has to be a way because this guy has dozens of positive reviews, what's the secret?

[unholycactus]

I did some further digging and found out that I have a limit of $500 that I can receive for the day on a Greendot card, so how can I receive $700 from the buyer then?

There has to be a way because this guy has dozens of positive reviews, what's the secret?

My guess: 500$ is a starter limit, you might be able to get more if you use Greendot often.

[EthanB]

If you plan on adding the GreenDot to a financial account.. Such as Paypal or whatever else accepts GreenDot, then after you exceed a certain limit they request verification documents or hold your funds AND account in limbo. This happened to me once.. I got everything verified, but it was a pain in my ass.

[unholycactus]

If you plan on adding the GreenDot to a financial account.. Such as Paypal or whatever else accepts GreenDot, then after you exceed a certain limit they request verification documents or hold your funds AND account in limbo. This happened to me once.. I got everything verified, but it was a pain in my ass.

Right, this makes more sense than what I've said in my previous post.
The better the service provider knows you, the more they are willing to risk.