I'm listed on localbitcoins.com, but the last time I did any person to person trading was back when BTC was valued at $5/each and I sold very few of them. Now I have somebody wanting to buy much more in USD from me and I want to protect both myself and the person. Does anybody have any tips/best practices for doing this? Outside of the obvious such as meeting in public, etc etc - more on the mechanics to make sure both of us fulfill our ends of the bargain.
I would recommend a place with surveillance cameras, just in case. I did a couple of trades at the local Indian casino and everything worked out just fine. Have the buyer show you that they have the cash before you send the BTC. You don't want to find out that they didn't bring enough cash with them after the bitcoins have already been sent. You may also want to send a bit cent or two first, so the buyer can confirm that you are sending to the right address, You don't want to accidentally send the BTC to the wrong address. You may also want to consider doing multiple smaller transactions over time to minimize the risk, instead of selling a large amount all at once.
