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Author Topic: Localbitcoins exchange  (Read 110 times)
Murloc
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November 28, 2017, 10:06:49 PM
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I'm trying to exchange some of my BTC thru localbitcoins and I've found a buyer so we gona use localbitcoins as an escrow. There is a lot of guides about selling BTC thru already listed adds but how can I make a deal when I don't have 0.1 BTC to place an add?
Another question: If I send BTC directly from my localbitcoins wallet to the buyer's wallet (that is also in localbitcoins) without escrow then will I get charged a miner fee or the system recognize the transaction and it will be free and instant?

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November 28, 2017, 10:27:15 PM
 #2

I'm trying to exchange some of my BTC thru localbitcoins and I've found a buyer so we gona use localbitcoins as an escrow. There is a lot of guides about selling BTC thru already listed adds but how can I make a deal when I don't have 0.1 BTC to place an add?
Another question: If I send BTC directly from my localbitcoins wallet to the buyer's wallet (that is also in localbitcoins) without escrow then will I get charged a miner fee or the system recognize the transaction and it will be free and instant?
Never tried to sell bitcoin in localbitcoin.. Locanbitcoin is a p2p trading site so  localbitcoin can act as escrow.. And base one what i seen in their guide you should have atleast 0.2 btc before you place adds.  if you don't reach the mnimum its not allowed to place your add..
And if you deal to someone it will be automatically taken your funds by escrow. Check it here https://localbitcoins.com/guides/how-to-sell-bitcoins-online
So i think there is no miners fee...

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November 29, 2017, 06:02:59 AM
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In my case I don't need to advertise my deal because I already have a buyer. I just need to use it as escrow so there should be the way to initiate a trade  with smaller amounts of BTC.

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November 29, 2017, 08:58:51 AM
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In my case I don't need to advertise my deal because I already have a buyer. I just need to use it as escrow so there should be the way to initiate a trade  with smaller amounts of BTC.

There is a minimum to every single advertisement that you cannot avoid. Without this advertisement you simply cannot initiate an escrow trading with the other party, that's just how it works with localbitcoins.

Try paxful, i'm pretty sur ethat they have lower restrictions when it comes to opening advertisements.

Localbitcoins used to have a 0.4 BTC min i think, they actually made it less to correspond with BTC's rise in value.

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November 29, 2017, 10:00:49 AM
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I'm trying to exchange some of my BTC thru localbitcoins and I've found a buyer so we gona use localbitcoins as an escrow. There is a lot of guides about selling BTC thru already listed adds but how can I make a deal when I don't have 0.1 BTC to place an add?
Another question: If I send BTC directly from my localbitcoins wallet to the buyer's wallet (that is also in localbitcoins) without escrow then will I get charged a miner fee or the system recognize the transaction and it will be free and instant?

Localbitcoins are added with the automated escrow bro, Once you check the right person who can afford for amount you want to sell. You have to find the trust and feedback 100 percent to understand that trader is legit.
Once you open the trade your both parties fund will locked by the escrow you seems like your wallet minus with the amount you have opened at there.
When the time you transfer the bitcoin from you own wallet to localbitcoins wallet means you have pay for both the fees, one is for sending from the wallet you are sending to lbc and lbc will consume to deposit fees too.

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November 29, 2017, 10:45:57 AM
 #6

I know how it works but all traders in my location are charging a high fee.
I've already found a guy for face-to-face exchange and I have my funds on localbitcoins account. Now I just need to find a way to transfer those funds to his acc  instantly and without the miner fee.

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