LocalBitcoins Reputable?

[viking02]

I'm from New york city but out of the country now.  I know localbitcoins is for selling bitcoin.  I like to know does anyone know legit buyers of bitcoin in new york city?  And if so, what is most common form of payment?  I see many people in localbitcoins accept cash.  But do most of these sellers meet up at coffeeshop for the transaction?  Or most meet up at bank where they deposit the cash in the bank for you.  The issue with accepting cash at coffeeshop is you have to make sure the cash is real and not counterfeit.  So you would basically have a pen to mark every single bill just to make sure its real?  Then again im not sure u want to do this in public where ppl can see it.


Also when people do this, generally how much cash is it?  I mean if its like 200 or 500 or 1000, okay that isn't big deal.  But if you want to sell btc for like 5k or 10k or 15k cash, are you really meeting in a coffeeshop?
I would assume most just meet up at bank?  The other thing is this.  Assuming you meet up at a bank, generally do they just give you the cash, then you go and deposit it into bank account, then you get receipt, then you release the coins?  Or do they deposit the case, then give you the receipt right there on the spot etc.  But that could be easily a scam since they could give you another receipt.  So i figure they give you cash in envelope at the bank, you deposit it... then get receipt... then you go and release your coins... correct?  And just want to make sure since i haven't deposited cash in bank in a long time.  But if any bills are counterfeit, the bank would know immediately right the moment you deposit the cash or the other guy deposit the cash so there isn't any issue later on after you release the coins?  Also i have deposited cash before in an atm.  But would this be the same thing.  Like if someone wanted to buy 1000 dollars worth of bitcoin... they give u cash... u deposit atm... atm accepts.. give you receipt... then you are good to go with releasing your coins?



Also i assume most ppl meet up in coffeeshop as oppose to bank and want cash due to not wanting to pay taxes/IRS right?  So basically its a foolish way because unless cash is deposited into bank... theres always a chance to get scammed?  I heard certain bills could look very legit but it isn't as well because they are good fakes.

[Herbert2020]

you can set the meting place with the person who you are dealing with, just make a contact and meet anywhere you feel is safer. but i think all those who deal with cash they are dealing smaller amounts not 10K$.

if you don't care about using exchanger then use them. any service that operates with credit card or bank transfer i think you can use coinbase too.

[844bankbtc]

I do 10k trades but anything that large in cash, I have to photocopy your ID and file a form with FinCen. If you still have a US bank account many traders like myself will take a check, you just have to wait for it to clear and would still need ID. You can also do wire transfers, typically faster.

[adaseb]

Localbitcoins is good for small amounts. But if you have $10K to withdraw you might as well get a legit broker and send in your passport/ID.

Too much can go wrong meeting some strangers selling $10,000 worth.

Or just do smaller amounts multiple times, multiple people.

[844bankbtc]

By the way, Localbitcoins is reputable but many of the sellers there are not. Its like ebay, there are good and bad sellers.

If you are buying that large on a regular basis go through a guy like me or sign up with an exchange like bitstamp. Just depends on how anonymous you want to be and how fast you want your coin.

[plost24]

scammers are evrywhere so if you need a services in from a site like localbitcoin he will give you all the information you need and give you some security but you are responsable with your own action after all you need to know the right costumer or seller to trade with.

[pterodactyl]

I just did my first buy on localbitcoins and I'm really impressed. I paid and got my coins instantly. It's a really well thought out site and the feedback of the other users makes it simple to know who to trust.

If I were looking to do 10k, I would just definitely use someone that had 1000+ trades and 100% positive feedback.

[Quartx]

For amounts below $5000 worth, it is a good place to start, they have a pretty stringent requirements for sellers and buyers too. Above that you would be better off with places like Circle or Coinbase

[Bitcoinbee]

 

I'm from New york city but out of the country now.  I know localbitcoins is for selling bitcoin.  I like to know does anyone know legit buyers of bitcoin in new york city?  And if so, what is most common form of payment?  I see many people in localbitcoins accept cash.  But do most of these sellers meet up at coffeeshop for the transaction?  Or most meet up at bank where they deposit the cash in the bank for you.  The issue with accepting cash at coffeeshop is you have to make sure the cash is real and not counterfeit.  So you would basically have a pen to mark every single bill just to make sure its real?  Then again im not sure u want to do this in public where ppl can see it.


Also when people do this, generally how much cash is it?  I mean if its like 200 or 500 or 1000, okay that isn't big deal.  But if you want to sell btc for like 5k or 10k or 15k cash, are you really meeting in a coffeeshop?
I would assume most just meet up at bank?  The other thing is this.  Assuming you meet up at a bank, generally do they just give you the cash, then you go and deposit it into bank account, then you get receipt, then you release the coins?  Or do they deposit the case, then give you the receipt right there on the spot etc.  But that could be easily a scam since they could give you another receipt.  So i figure they give you cash in envelope at the bank, you deposit it... then get receipt... then you go and release your coins... correct?  And just want to make sure since i haven't deposited cash in bank in a long time.  But if any bills are counterfeit, the bank would know immediately right the moment you deposit the cash or the other guy deposit the cash so there isn't any issue later on after you release the coins?  Also i have deposited cash before in an atm.  But would this be the same thing.  Like if someone wanted to buy 1000 dollars worth of bitcoin... they give u cash... u deposit atm... atm accepts.. give you receipt... then you are good to go with releasing your coins?



Also i assume most ppl meet up in coffeeshop as oppose to bank and want cash due to not wanting to pay taxes/IRS right?  So basically its a foolish way because unless cash is deposited into bank... theres always a chance to get scammed?  I heard certain bills could look very legit but it isn't as well because they are good fakes.

if its in small amounts you can trade with trusted or legit traders.  but if its in big amounts you've got to be extra careful in dealing with it.  it is better if you've got a legit company trading for bitcoins.  try visiting one first and if your satisfied with the assurance they gave you then you can have a better trading partner with trust binding your reputation and investments. 

[tommorisonwebdesign]

in my experience, localbitcoin has been good. However, I never meet up with the person I'm trading with; the coins I sell is sent directly to my bank account via e-transfer. If you're deal with large amounts like you describr, i would be more careful.

[Altynbekova]

in my experience, localbitcoin has been good. However, I never meet up with the person I'm trading with; the coins I sell is sent directly to my bank account via e-transfer. If you're deal with large amounts like you describr, i would be more careful.

Localbitcoin is good indeed and I think you can use it for large amounts but also low amounts its a very trust able service and you can almost not get scammed if you ask me.

[HarryKPeters]

in my experience, localbitcoin has been good. However, I never meet up with the person I'm trading with; the coins I sell is sent directly to my bank account via e-transfer. If you're deal with large amounts like you describr, i would be more careful.

Localbitcoin is good indeed and I think you can use it for large amounts but also low amounts its a very trust able service and you can almost not get scammed if you ask me.

They are okay and you can deal with the most in real life and that makes it pretty nice and safe.
The only downside is that it sometimes takes a while.

[Altynbekova]

in my experience, localbitcoin has been good. However, I never meet up with the person I'm trading with; the coins I sell is sent directly to my bank account via e-transfer. If you're deal with large amounts like you describr, i would be more careful.

Localbitcoin is good indeed and I think you can use it for large amounts but also low amounts its a very trust able service and you can almost not get scammed if you ask me.

They are okay and you can deal with the most in real life and that makes it pretty nice and safe.
The only downside is that it sometimes takes a while.

They can be trusted and they already have some nice reviews about there service and they are fast and they are good.
The only downside is that they have indeed a huge competitor.

[Gaugh]

Localbitcoins.com is quite reputable.

If you are buying directly from someone, like you said, a coffee shop would be nice.

Make sure your antivirus is up to date and wait for at least two confirmations before leaving the shop.

[davis196]

I have mixed experience with localbitcoins.Found a few trusted traders there and a scammer idiot with green reputation,who tried to scam me and left a negative review just to ruin my reputation there.
Even traders with green rep. can be dangerous there.

[Haswell]

LB is reputable as an escrow service for P2P transactions.

[techgeek]

Ive had mixed experiences as well, but most of the time its usually good.

I havent gone over like 4k transaction per month or anything like that.

But the last experience I had was close to 1k mark? The bank counted the money for me, then we continued to wait for 1 confirmation or so while we grabbed coffee.

This all depends now since large volumes like that shouldnt be recommended and more people are buying lbc account for fraud.

[jackg]

Just use coinbase.
They are highly reputable and are insured against bankruptcy and hackers.
They do, however, have a 1% fee on money transfers to USD/GBP/EUR and other currencies.

[techgeek]

Just use coinbase.
They are highly reputable and are insured against bankruptcy and hackers.
They do, however, have a 1% fee on money transfers to USD/GBP/EUR and other currencies.

Coinbase is indeed a good place, but to a certain extent in my experience in the past. I still do both coinbase and localbitcoins.

There are times when they limit orders to fullfill that dont honor the price in the past - which is what I encountered as so have many others.

But its a newbie friendly area I guess to anyone get involved with bitcoin.

[Cyaren]

Localbitcoins is a reputable escrow site itself.

If you're looking to deal with large amounts, make sure you do so with very trustworthy people. You should always meet up in a very public place where you can always call for help if needed. Also, wear proper clothing so that if a chase is needed, you can run.

Anyway... As I said, always check their trade history as well as their trust rating. Also, never send until you can confirm that you have received the right amount.