Localbitcoins looting the money

[ladydark]

Hi, today i sent 0.00238 btc from my electrum wallet to my localbitcoins account.I have already paid transaction fee.I have received only 0.00154 btc in my localbitcoins account.So they have taken 0.0008 btc as incoming fee.So,dear all be careful while using localbitcoins.com for selling your hard earned btc.Just wanted to make you all alert of this loot.

[orarider]

Hi, today i sent 0.00238 btc from my electrum wallet to my localbitcoins account.I have already paid transaction fee.I have received only 0.00154 btc in my localbitcoins account.So they have taken 0.0008 btc as incoming fee.So,dear all be careful while using localbitcoins.com for selling your hard earned btc.Just wanted to make you all alert of this loot.

Unbelievable, it's really too big. I never heard about incoming fee. It sounds silly, the recipient does not take any fees, that is the rule for performing bitcoin transactions. Clearly they are scams.

[ladydark]

Hi, today i sent 0.00238 btc from my electrum wallet to my localbitcoins account.I have already paid transaction fee.I have received only 0.00154 btc in my localbitcoins account.So they have taken 0.0008 btc as incoming fee.So,dear all be careful while using localbitcoins.com for selling your hard earned btc.Just wanted to make you all alert of this loot.

Unbelievable, it's really too big. I never heard about incoming fee. It sounds silly, the recipient does not take any fees, that is the rule for performing bitcoin transactions. Clearly they are scams.

Yes bro,its shocking.

[Kprawn]

Registering, buying, and selling Bitcoin is completely free. LocalBitcoins users who create advertisements are charged a 1% fee for every

completed trade. When using our merchant invoicing services a fee of 0.5% is deducted from the paid invoice amount of each invoice. Also Bitcoin

network deposit fee is deducted from the invoice amount, if the invoice is paid with an external transaction. What option did you take?

[jjacob]

Hi, today i sent 0.00238 btc from my electrum wallet to my localbitcoins account.I have already paid transaction fee.I have received only 0.00154 btc in my localbitcoins account.So they have taken 0.0008 btc as incoming fee.So,dear all be careful while using localbitcoins.com for selling your hard earned btc.Just wanted to make you all alert of this loot.

This wouldn't be an isolated case. Even wallets like Xapo have fee for incoming small transactions.
http://in.xapo.com/fees/
They wouldn't want users to collect dust in their wallets.

[bitcoinisbest]

Yes localbitcoin has started charging for incoming transaction which is not sure why they do it. I can understand of outgoing transaction, but why to charge for incoming transaction is the question. Many have started to shift the wallet from lb to different wallet.

Hope they remove the fees for incoming transaction.

[carlfebz2]

Yes localbitcoin has started charging for incoming transaction which is not sure why they do it. I can understand of outgoing transaction, but why to charge for incoming transaction is the question. Many have started to shift the wallet from lb to different wallet.

Hope they remove the fees for incoming transaction.

Incoming transaction fee? Seriously? This is only my first time to hear such thing to use this service. When sending bitcoins you are obliged to set some fees in order for it to confirm but talking about incoming? What the heck whats the use/purpose of that fund.

[olushakes]

Hi, today i sent 0.00238 btc from my electrum wallet to my localbitcoins account.I have already paid transaction fee.I have received only 0.00154 btc in my localbitcoins account.So they have taken 0.0008 btc as incoming fee.So,dear all be careful while using localbitcoins.com for selling your hard earned btc.Just wanted to make you all alert of this loot.

Maybe because its happening to you the first time but in actual sense, its really too much because by the time say 1000 people make such payment, they then get to live fat but at the same time, I think that is the only fee they will deduct because I had same experience with one site like but what they charge then was 0.0002 flat maybe they have increased it now, I don't know but that is the only fee they will charge and when I tried transfer out of the wallet, it was free. Maybe that is what they are also implementing.

[malikusama]

This is too much, the increasing transaction fee is causing a negative impact on the bitcoin users which may lead to the decrease in the number of users in the near future if this continues.

[tech_solutions]

Hi, today i sent 0.00238 btc from my electrum wallet to my localbitcoins account.I have already paid transaction fee.I have received only 0.00154 btc in my localbitcoins account.So they have taken 0.0008 btc as incoming fee.So,dear all be careful while using localbitcoins.com for selling your hard earned btc.Just wanted to make you all alert of this loot.

Maybe because its happening to you the first time but in actual sense, its really too much because by the time say 1000 people make such payment, they then get to live fat but at the same time, I think that is the only fee they will deduct because I had same experience with one site like but what they charge then was 0.0002 flat maybe they have increased it now, I don't know but that is the only fee they will charge and when I tried transfer out of the wallet, it was free. Maybe that is what they are also implementing.

No even when you are withdrawing your coins from LB wallet to other wallet they are charging the outgoing transaction fees, so now they are charging for all incoming and outgoing transaction fees and even on the trading also they are charging fees. So i think it is not good for charging incoming transaction fees as they are earning commission on the trading done by the users.

If everyone jointly raise the voice then i think they may change the option.

[Mandoy]

Hi, today i sent 0.00238 btc from my electrum wallet to my localbitcoins account.I have already paid transaction fee.I have received only 0.00154 btc in my localbitcoins account.So they have taken 0.0008 btc as incoming fee.So,dear all be careful while using localbitcoins.com for selling your hard earned btc.Just wanted to make you all alert of this loot.

It is not called looting but it is considered to be additional fees. This is not only in the case of localbitcoins but also true to other exchanges. The fees have tremendously went up and we will be suffering from those huge fees. Due to this kind of reason I no longer make small multiple transactions but instead I make one big transaction so I can save on fees. The problem with fees nowadays is that you can no longer make a small transaction due to higher fees. There are instances that the fees is much more higher than the bitcoins that we are going to sent. But if you think localbitcoins is the worst you will laugh if you met the exchange in the Philippines that charges you 0.002+ btc for sending btc to external wallets.

[Vishnu.Reang]

I have also noticed this. Last week, I transferred around BTC0.10 to my Localbitcoins wallet, and I received only around BTC0.099. These people are playing dirty tricks. What is this? First of all I paid BTC0.0015 to Kraken to withdraw my coins. And on top of that I have to pay another BTC0.001 to LBC, just to deposit my coins. This is crazy.

[Capradina]

Hahhaa, this is not a problem. Indeed this now to get the level of confirmation or delivery definitely need a fairly high fee. But you don't have to worry about, if indeed your mind still assume that taking too much localbitcoin fee for the transaction then it's not a problem. Of cause you can also switch to a better place according to you. All this happened not because of the localbitcoin but because of the higher fee, make them take action is good enough
 

[ankit10]

I never used this localbitcoins but I heard from many peoples that they have problems with localbitcoins, so its better to stay away from them maybe they scam more in near future.
Or you should send them e-mail about this

[Aveatrex]

I just checked my localbitcoin account,and checked their FAQ,they actually charge a fee when deposit at the moment it's 53k satoshi It's a bit high but I don't think it's their fault if the bitcoin network is saturated I am also using XAPO wallet and they also charge a fee when you receive bitcoins.Hope that the after 1 August this problem get solved

[Pixmartz]

Yeah, I also hope so when Segwit date 1 issue like this can end.

Cutting 2 times really make a loss.
I think localbitcoin is just updating their regulation. The last time I used my july in 2016 did not go through such cuts. It has been very long.

[xFiber]

Oh gosh what kind of fee is that? That is just asking for users to leave the platform. I've never used localbitcoins before but if these are this kind of fees they have I will never even bother using them in the future. Thanks for the heads up man!

[Yakamoto]

Hi, today i sent 0.00238 btc from my electrum wallet to my localbitcoins account.I have already paid transaction fee.I have received only 0.00154 btc in my localbitcoins account.So they have taken 0.0008 btc as incoming fee.So,dear all be careful while using localbitcoins.com for selling your hard earned btc.Just wanted to make you all alert of this loot.

That's surprising, if they do have an incoming fee then it should be a lot lower than something like that, that's just too much. Maybe 0.0001 BTC (since they have to maintain their website somehow) but if they're taking that much (about $2 USD) for each incoming transaction then someone is looking to make a lot more money than they would be earning through "normal" means.

Might open up the doors for a competitor should the fees get bad enough.

[Juggy777]

Hi, today i sent 0.00238 btc from my electrum wallet to my localbitcoins account.I have already paid transaction fee.I have received only 0.00154 btc in my localbitcoins account.So they have taken 0.0008 btc as incoming fee.So,dear all be careful while using localbitcoins.com for selling your hard earned btc.Just wanted to make you all alert of this loot.

I think I have heard about local Bitcoin fees issue before, can't recollect where I read this. At first I thought it would not be true, but now that it looks like it is true and this is indeed very very bad for the local bitcoiners I am sure there will be some sort of solution, I am. Sure where you able to contact them and find about why it so happend.

[oaz7t]

That doesn't sound good. I using localBitcoin since long time but never had such problems. Have you checked or investigated what the problem is exactly.