Localbitcoins looting the money

[freedomno1]

An incoming transaction fee, they absorb no cost on that side so they hid it as a usage cost.
Seems pretty much like a front and back end segregated fund trick you pay on both the receive and send in this case instead of one or the other (lol mutual funds are in my head)

[1715322639]

1715322639

[1715322639]

1715322639

[1715322639]

1715322639

[siti25]

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.

Actually this has been discussed since a long time, transaction costs are taken by local bitcoin is too big, and in fact this is very unusual, but it may have been their policy, and also unable to do anything

[bajing]

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've use localbitcoins before for sell bitcoin to neteller/skrill/paypal but never know there is any incoming fee maybe it's a transaction fee. I do not know if they has made a new rule but honestly i've a little hesitant about it because usually the exchanger taking a fee from withdraw.

[JimmieA]

the additional fee really too great and maybe you will pay more like that.I think you should only make the necessary transactions. At present, the fee we pay is too large. That made me feel unhappy and sure it would limit the number of transactions. More seriously, it will make  beginners to abandon

[flippener]

I used LocalBitCoins when I started but I've moved on (coinbase, Poloniex, Electrum, etc.). I wouldn't go back to LBC again.

[kangasbros]

Hi, we made the fee model change some time ago. The reason for the fee model change is that small deposits cost a lot for all of our users, because spending an output is more costly. People were sending small deposits to our wallet (dust), and causing the fees for everyone to increase. Note that the sending fees went much lower now after this change.

We try to make our fees go lower, but it will take some time and work.

We published this blog post when the fee model changed: https://localbitcoins.com/blog/new-bitcoin-network-fee-model/

Additionally there is information about the fees on the fees page: https://localbitcoins.com/fees

And also on the wallet page the fees are mentioned. The fee varies on depending on the bitcoin network situation. For example at this moment the bitcoin network deposit fee is 0.00036793 BTC - it has went lower recently.

[btcdevil]

Hi, we made the fee model change some time ago. The reason for the fee model change is that small deposits cost a lot for all of our users, because spending an output is more costly. People were sending small deposits to our wallet (dust), and causing the fees for everyone to increase. Note that the sending fees went much lower now after this change.

We try to make our fees go lower, but it will take some time and work.

We published this blog post when the fee model changed: https://localbitcoins.com/blog/new-bitcoin-network-fee-model/

Additionally there is information about the fees on the fees page: https://localbitcoins.com/fees

And also on the wallet page the fees are mentioned. The fee varies on depending on the bitcoin network situation. For example at this moment the bitcoin network deposit fee is 0.00036793 BTC - it has went lower recently.

But why are you charging the deposit fee when it is no related to you, it is upto the sender to pay the proper deposit and get their transaction confirmed but even when they have payed proper transaction fees you are charging them also the deposit fee, it is like one type of profit for you as you are not paying fees for our deposit then why to charge deposit fees.

This openly states that localbitcoins is looting the users who are depositing the bitcoins to sell, so you are getting profit from depositor and when they sell their also you are taking transaction charges. This is very bad status to your site.