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Author Topic: Tips for local transactions  (Read 305328 times)
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July 12, 2017, 07:33:47 AM
 #301

Can face-to-face transactions also be done for ethereum?



yes of course. as long as you both have internet connection.. you can meet up and do a face to face transaction. the sender can access his account then send it to the receiver, then the receiver will confirmed it personally that the transaction has completed.

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July 17, 2017, 07:24:02 PM
 #302

Thank you for the tips. This is really helpful.
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July 17, 2017, 09:14:45 PM
 #303

should have read this before..
thx for useful advice
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July 19, 2017, 11:09:16 AM
 #304

What is the best site for exchange, selling and buying coins? The lowest fee that i pay for transaction?
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July 20, 2017, 05:03:47 AM
 #305

great thread and advice. i recently sold some bitcoin to someone in person, first time doing it, and it went well. glad i went to a public place that seemed "secure".

thx again

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July 20, 2017, 09:09:24 PM
 #306

This is a really great guide for people like me. If you're willing to do local transactions you better read this topic before you start. So that you can avoid fraud and scamming activities.

I have many friends scammed in local bitcoin transactions.

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July 31, 2017, 01:04:06 PM
 #307

Thank you for this topic, helped me in a recent exchange Smiley
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July 31, 2017, 04:57:09 PM
 #308

I was writing this as a reply to someone else's topic and it got kind of lengthy, so I decided to make it into a topic instead.

The intention of this topic is to help new buyers and sellers in the BitCoin community who are looking to meet up and trade locally. I've done a lot of local trades and sales over the years, so I'm hoping that my experiences can help beginners by giving them ideas on how to trade safely. For this purpose I've separated my advice into three sections: meeting for trades, advice for buying, and advice for selling.

I've tried to format everything in a clear and concise manner to make this topic more readable. I'm open to suggestions for edits and additions to help make this guide as useful as possible.

Hope this guide helps anyone looking to start trading locally!

Note: Some names/locations I mention are US based, so I apologize if they're irrelevant for your location. The theories behind this topic should be fine regardless of country.



Meeting:
There are three main things I look for in meeting places:
  • Public Location - Are there plenty of people around?
  • WiFi Access - Is there free or cheap public WiFi access in the area?
  • Security - Are there security cameras or security guards in the area?

Public Location:
Public locations are like Local Trading 101: it is always better to meet in a public place. Scammers and muggers are a lot less likely to try anything with witnesses around. You can usually find these people early on by simply requesting a public meeting place: they want to meet their victims alone.

WiFi:
Places like McDonalds, Starbucks, Barnes & Noble, and many local coffee shops offer free WiFi access. A lot of hotels offer WiFi as well, but usually not for free or to non-customers. Bring a laptop or tablet with you if you have one so you can check transaction details and confirmations. Depending on what you're buying/selling/trading, having a computer to do some last second research on item values can never hurt if you're worried about getting the short end of the stick.

Security:
A location with security cameras adds an extra layer of security to a trade. If the other party does get away with stealing from or scamming you, you'll have physical evidence in a recording that can help the authorities track the offender down and bring him to justice. Security guards can help set your mind at ease if you're concerned that you might get mugged: muggers are a lot less likely to rob you if there's a guard with a gun a few yards away. A guard can easily step in and save you if a mugger does start attacking you.

My personal recommendation would be to meet at a mall, if there's one in your area. Malls have tons of security measures to help protect you as you make your trade, and many malls have WiFi access across the entire property: there's a good chance that one of the mall's stores has WiFi access even if the mall itself doesn't. Banks are a good choice too: banks have great security, and some bigger banks have WiFi access as well.

Buying:
There are three things I want to cover about buying in-person:
  • Reviewing Your Purchase
  • Paying with BitCoin
  • Paying with Cash

Reviewing Your Purchase:
For buying items, remember that there's a lot you can't tell about something just from pictures. Make sure to look the item over carefully and make sure everything is in working condition/described condition before you pay the seller. A seller who is unwilling or nervous about letting you check out an item may know something about the item he doesn't want you to find out. It's a good idea to meet during the day or in a well lit area so you can see everything clearly. Don't be afraid to ask questions if anything feels off and don't feel obligated to complete a sale you're uncomfortable with.

Paying with BitCoin:
One of the easiest ways to pay in BitCoin in person is with a mobile wallet app from a smartphone. Blockchain a mobile wallet app for Android and iOS. It's an online wallet, so I wouldn't recommend it for long-time storage: strictly transactions. Once I know how much I need to pay for an item I put that much in the wallet, and maybe 1 or 2 BTC more just in case there's a last second price change, and when I get home I immediately transfer any leftover funds to a more secure wallet. Blockchain works the same as any other client: enter the seller's payment address and the amount of BTC for the sale to send payment. Blockchain also has a QR scanner built in if the seller has a QR code address.

As a side note, I use an iPhone and Blockchain is, to my knowledge, the only wallet app for iOS without jailbreaking your phone. I have no knowledge about jailbreaking or Android apps for alternatives to Blockchain, but you can always do your research here on the forum or on the BitCoin wiki to find an app that works for you. You can also use your laptop, if you have it with you, to access your wallet and pay the seller. I recommend creating a brand new wallet for the transaction, especially if you're the paranoid type. Better safe than sorry, right? Wink

Paying with Cash:
This section focuses on buying BitCoins. One of the more common OTC transactions is buying BitCoin with cash. If you're buying BTC, you need to give the seller a payment address to receive your funds. You can use your mobile wallet to receive the funds, which you can then transfer to a safer wallet when you get home, or you can write down or print out a wallet address for the seller to send the BTC to. If you do the latter method, make sure to confirm the transaction before you part ways: use a laptop to check your wallet and confirm the payment or have a trusted friend/family member monitor the wallet and contact you with confirmation of the funds.

Selling:
There are a few things to review for sellers:
  • Terms of the Sale or Trade
  • Accepting BitCoin Payment
  • Accepting Cash Payment
  • Other Forms of Payment

Terms of the Sale or Trade:
If you and the buyer have agreed to the terms of the trade ahead of time (as in what is being sold and for what price), I recommend printing out a copy of the agreement or correspondence (emails, forum posts, etc.). I've had experiences where the buyer tries to change the deal at the last minute or claims that I agreed to a lower price for the sale. Printing out what you offered and he accepted will back you up and help you get the price you asked for. You can also take a picture of these correspondences with your phone or digital camera if you don't have a printer, or use a laptop/tablet to bring them up if WiFi access is available.

Accepting BitCoin Payment:
Write down or print your payment address and bring it with you: I also recommend having a QR code address printed for buyers who use mobile wallets. Make sure you have a way to confirm payment before you part ways with the buyer. Use a laptop/tablet to check on the transaction for confirmations as well as affirming that the buyer paid the correct amount. You could also have a trusted friend/family member monitor your wallet and contact you with confirmation if WiFi is unavailable. Mobile app wallets may be able to confirm transactions on the spot, negating the need for WiFi access and a computer if you have a 3G/4G phone: the Blockchain app I mentioned can do this for you.

Accepting Cash Payment:
The main concern with cash payment is counterfeit bills. Most banks and retail locations keep special markers at the registers that can show if a bill is real or counterfeit. Here's an example on Amazon. These markers are a cheap investment if you're worried about receiving counterfeit money. I've also found them at office supply stores like Office Depot and Staples for around $5-$15. Keep one in your pocket and mark the bills before you finish the sale. Make sure you explain to the buyer what you're doing so they don't freak out on you: I've had that happen before.

Other Forms of Payment:
The are two things to remember about alternative forms of payment: one; try to agree with the buyer ahead of time about the use of non-cash/non-BTC payments, and two; do your research on the payment method to make sure you know what you're getting and how it works (and how easily, if possible, it can be forged or reversed). This forum is full of warnings about certain payment methods for good reason. BitCoin purchases seem to be the bigger targets for chargeback fraud, so keep yourself educated when you're selling BTC in person.

There is one final warning I would like to give in this section: do not accept personal checks. One of the first in-person sales I ever did was for a personal check ($450), and I'm sure you can guess how that went simply by the way I've brought it up. Another check sale a few months after that one was paid for with a stolen checkbook and I had police show up at my house asking about the sale so they could find the guy. If you absolutely must accept a sale by check, I would recommend completing the sale at a bank so you can cash the check on the spot.

Other Tips:
This section is for good advice submitted by other posters. Thanks for your contributions!
  • Make sure to specify your expectations in advance. Confirm the time and place of meeting and make sure that both parties have everything on hand to complete the sale or trade. ~ Stephen Gornick
  • Strength in numbers: bringing along a second person can be an excellent source of additional security and protection. ~ Vernon715

Thank you for the info.
Very nice strategy in securing yourself in trading/buying/selling. It is very heplful for the newbie in this business.. Smiley

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August 06, 2017, 01:47:04 PM
 #309

What is the best site for exchange, selling and buying coins? The lowest fee that i pay for transaction?
All markets are the same, they take advantage of transactions and they take the best cost to swap the sale of coins, so I think the recommended cost is the lowest and the big one you expect makes sense. If they do not have a fee when the transaction they profit from where klo not from transaction costs.
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August 16, 2017, 08:20:24 AM
 #310

this THREAD was amazing
Before I was doing buy and sell of some thngs i havent use and all of the listed up there was all true
whenever i will have a transactions and meet ups I need aded security for my self especially when the item is high valued...
so guyzz please read the post and youll get such decent advice from Pancho95

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August 23, 2017, 02:50:55 PM
 #311

in the world of cryptocoin things like this are indispensable. That is a fairly detailed explanation like this.
 The new concept that you offer will bring this project to success.
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August 31, 2017, 12:52:23 PM
 #312

Thanks for sharing all the Tips for Local Transaction.

I am Thinking  Huh shall i go for opening a local agency for Bitcoin Exchange is it possible to do so. Just like Currency Exchange, if i go for opening a local exchange where we can get customers for exchanging Bitcoins, and we can profit from the spread between Bid & Ask Rate. 

it will be good if i create a new topic on this Wink ...thanks  Cheesy once again for all the tips provided in this section.
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September 03, 2017, 04:17:05 AM
 #313

I was writing this as a reply to someone else's topic and it got kind of lengthy, so I decided to make it into a topic instead.

The intention of this topic is to help new buyers and sellers in the BitCoin community who are looking to meet up and trade locally. I've done a lot of local trades and sales over the years, so I'm hoping that my experiences can help beginners by giving them ideas on how to trade safely. For this purpose I've separated my advice into three sections: meeting for trades, advice for buying, and advice for selling.

I've tried to format everything in a clear and concise manner to make this topic more readable. I'm open to suggestions for edits and additions to help make this guide as useful as possible.

Hope this guide helps anyone looking to start trading locally!

Note: Some names/locations I mention are US based, so I apologize if they're irrelevant for your location. The theories behind this topic should be fine regardless of country.



Meeting:
There are three main things I look for in meeting places:
  • Public Location - Are there plenty of people around?
  • WiFi Access - Is there free or cheap public WiFi access in the area?
  • Security - Are there security cameras or security guards in the area?

Public Location:
Public locations are like Local Trading 101: it is always better to meet in a public place. Scammers and muggers are a lot less likely to try anything with witnesses around. You can usually find these people early on by simply requesting a public meeting place: they want to meet their victims alone.

WiFi:
Places like McDonalds, Starbucks, Barnes & Noble, and many local coffee shops offer free WiFi access. A lot of hotels offer WiFi as well, but usually not for free or to non-customers. Bring a laptop or tablet with you if you have one so you can check transaction details and confirmations. Depending on what you're buying/selling/trading, having a computer to do some last second research on item values can never hurt if you're worried about getting the short end of the stick.

Security:
A location with security cameras adds an extra layer of security to a trade. If the other party does get away with stealing from or scamming you, you'll have physical evidence in a recording that can help the authorities track the offender down and bring him to justice. Security guards can help set your mind at ease if you're concerned that you might get mugged: muggers are a lot less likely to rob you if there's a guard with a gun a few yards away. A guard can easily step in and save you if a mugger does start attacking you.

My personal recommendation would be to meet at a mall, if there's one in your area. Malls have tons of security measures to help protect you as you make your trade, and many malls have WiFi access across the entire property: there's a good chance that one of the mall's stores has WiFi access even if the mall itself doesn't. Banks are a good choice too: banks have great security, and some bigger banks have WiFi access as well.

Buying:
There are three things I want to cover about buying in-person:
  • Reviewing Your Purchase
  • Paying with BitCoin
  • Paying with Cash

Reviewing Your Purchase:
For buying items, remember that there's a lot you can't tell about something just from pictures. Make sure to look the item over carefully and make sure everything is in working condition/described condition before you pay the seller. A seller who is unwilling or nervous about letting you check out an item may know something about the item he doesn't want you to find out. It's a good idea to meet during the day or in a well lit area so you can see everything clearly. Don't be afraid to ask questions if anything feels off and don't feel obligated to complete a sale you're uncomfortable with.

Paying with BitCoin:
One of the easiest ways to pay in BitCoin in person is with a mobile wallet app from a smartphone. Blockchain a mobile wallet app for Android and iOS. It's an online wallet, so I wouldn't recommend it for long-time storage: strictly transactions. Once I know how much I need to pay for an item I put that much in the wallet, and maybe 1 or 2 BTC more just in case there's a last second price change, and when I get home I immediately transfer any leftover funds to a more secure wallet. Blockchain works the same as any other client: enter the seller's payment address and the amount of BTC for the sale to send payment. Blockchain also has a QR scanner built in if the seller has a QR code address.

As a side note, I use an iPhone and Blockchain is, to my knowledge, the only wallet app for iOS without jailbreaking your phone. I have no knowledge about jailbreaking or Android apps for alternatives to Blockchain, but you can always do your research here on the forum or on the BitCoin wiki to find an app that works for you. You can also use your laptop, if you have it with you, to access your wallet and pay the seller. I recommend creating a brand new wallet for the transaction, especially if you're the paranoid type. Better safe than sorry, right? Wink

Paying with Cash:
This section focuses on buying BitCoins. One of the more common OTC transactions is buying BitCoin with cash. If you're buying BTC, you need to give the seller a payment address to receive your funds. You can use your mobile wallet to receive the funds, which you can then transfer to a safer wallet when you get home, or you can write down or print out a wallet address for the seller to send the BTC to. If you do the latter method, make sure to confirm the transaction before you part ways: use a laptop to check your wallet and confirm the payment or have a trusted friend/family member monitor the wallet and contact you with confirmation of the funds.

Selling:
There are a few things to review for sellers:
  • Terms of the Sale or Trade
  • Accepting BitCoin Payment
  • Accepting Cash Payment
  • Other Forms of Payment

Terms of the Sale or Trade:
If you and the buyer have agreed to the terms of the trade ahead of time (as in what is being sold and for what price), I recommend printing out a copy of the agreement or correspondence (emails, forum posts, etc.). I've had experiences where the buyer tries to change the deal at the last minute or claims that I agreed to a lower price for the sale. Printing out what you offered and he accepted will back you up and help you get the price you asked for. You can also take a picture of these correspondences with your phone or digital camera if you don't have a printer, or use a laptop/tablet to bring them up if WiFi access is available.

Accepting BitCoin Payment:
Write down or print your payment address and bring it with you: I also recommend having a QR code address printed for buyers who use mobile wallets. Make sure you have a way to confirm payment before you part ways with the buyer. Use a laptop/tablet to check on the transaction for confirmations as well as affirming that the buyer paid the correct amount. You could also have a trusted friend/family member monitor your wallet and contact you with confirmation if WiFi is unavailable. Mobile app wallets may be able to confirm transactions on the spot, negating the need for WiFi access and a computer if you have a 3G/4G phone: the Blockchain app I mentioned can do this for you.

Accepting Cash Payment:
The main concern with cash payment is counterfeit bills. Most banks and retail locations keep special markers at the registers that can show if a bill is real or counterfeit. Here's an example on Amazon. These markers are a cheap investment if you're worried about receiving counterfeit money. I've also found them at office supply stores like Office Depot and Staples for around $5-$15. Keep one in your pocket and mark the bills before you finish the sale. Make sure you explain to the buyer what you're doing so they don't freak out on you: I've had that happen before.

Other Forms of Payment:
The are two things to remember about alternative forms of payment: one; try to agree with the buyer ahead of time about the use of non-cash/non-BTC payments, and two; do your research on the payment method to make sure you know what you're getting and how it works (and how easily, if possible, it can be forged or reversed). This forum is full of warnings about certain payment methods for good reason. BitCoin purchases seem to be the bigger targets for chargeback fraud, so keep yourself educated when you're selling BTC in person.

There is one final warning I would like to give in this section: do not accept personal checks. One of the first in-person sales I ever did was for a personal check ($450), and I'm sure you can guess how that went simply by the way I've brought it up. Another check sale a few months after that one was paid for with a stolen checkbook and I had police show up at my house asking about the sale so they could find the guy. If you absolutely must accept a sale by check, I would recommend completing the sale at a bank so you can cash the check on the spot.

Other Tips:
This section is for good advice submitted by other posters. Thanks for your contributions!
  • Make sure to specify your expectations in advance. Confirm the time and place of meeting and make sure that both parties have everything on hand to complete the sale or trade. ~ Stephen Gornick
  • Strength in numbers: bringing along a second person can be an excellent source of additional security and protection. ~ Vernon715
This article/information was very helpful to every one specially to those who are begginer to the buying and selling business through local and even not in local.
So thanks for the tips and advices it was very helpful to me it awares me a lot in buying and selling business.

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September 03, 2017, 01:43:31 PM
 #314

Thanks for the post.  I am holding onto just a few BTC for novelty now.  If I want to cash them out or buy more I know a few people in Atlanta to do it through.

haha i hope you hung on to them till now! =)  price is in the clouds to the moon as it were!

__
on topic though.... thanks for all the info and experiences which are shared here. In person trading has always been a little strange to me, even today, no matter what the amount is... (if its a total stranger of course...) but perhaps i overthink it at times... public meet up spot is the best advice i think.
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September 05, 2017, 04:08:05 PM
 #315


Very good tips!

I  just looking for ATF machine to install locally in my town...
To sell BTC ...

Any advise?

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September 05, 2017, 04:38:41 PM
 #316

Very interesting post. I will keep it in mind for my first sells. Hope I will not get scammed.

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September 06, 2017, 11:17:47 AM
 #317


I have been here a long time and i have seen it all. i lost about a $80,000 over the years before i could get to where i am today. I would be willing to assist you in making perfect investments and guide you to success of over $500,000 in just a short period of time, that is if you are willing to follow my instructions. i can manage your account and make you profit of $17,000 weekly and $68,000 monthly with the ATL-V500 strategy. with this strategy you only get to invest $5000 with IQ Option and you make an awesome profit of $50,860 weekly.kindly message me on my email ( kenlynch507@gmail.com ).I will guide you to success , help you trade and make good profit in trading binary option and get your money back refund too if you don't know how to go for it.
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September 09, 2017, 03:23:24 AM
 #318

What is the best site for exchange, selling and buying coins? The lowest fee that i pay for transaction?

With regards to finding the best crypto coins trade things are not too simple. Why is this so? Basically in light of the fact that a large number of the best sites to purchase coins almost all are online. This implies they have had little to get the word out about their products and services. However, you may wish to check the following...

https://www.coinbase.com/
https://localbitcoins.com/
https://www.bitstamp.net/
https://bittrex.com/
https://cex.io/
https://www.coinmama.com/
https://yobit.io/

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September 12, 2017, 06:41:20 PM
 #319

From past few days Bitcoin price is fluctuating badly.
Its not safe to invest money on bitcoin for short term. If you are planing for a long term than you can buy now maybe around $4000.
Since Bitcoin price is going down and because of it price of all other crypto currencies will fall down and those of you who are keeping there whole money in crypto will face a huge loss, so better convert all your money into Tether (USDT) since it is the only one stable in the whole crypto currencies world.
   
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September 14, 2017, 01:34:07 AM
 #320

I do trading with analyzing market. Check out my channel where i already shown that bitcoin was expected to go down.

https://youtu.be/0lu4QDRr0jM

Also, i have posted a video talking about Ethereum pivot point when it will start to go bullish. Please check out.

https://youtu.be/CHEnN4F8BiY
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