why is the price at localbitcoins so much higher?

[Harlot]

It is really up to the seller on how they dictate their prices however you should be warned that if prices are too good to be true and barely has a positive reputation with it you should not take the bait as it is most likely a scam a 2,100$ difference is really big and I don't think it is a good idea risking your money because they are offering a little difference. You should stick to people who have realistic offers with good reputation on their name as your Bitcoin is always on the line.

[Koadharber]

Because localbitcoins.com it self don't have the control over the seller on their site. The seller has the authority to change the price which the seller could take advantage of that. That's the bad thing localbitcoins. Some sellers are abusive at their pricing. They price too much compares to exchanges regular price. Others are scammers. So be careful dealing with sellers there. Make sure you check everything before you make order to avoid mistakes which cause you losses. I saw a user here bought $200+ worth of Bitcoin for $875. That's not even on it's half.

I did able to see that incident too which a certain user did able to buy lower amount of bitcoin for higher price which do really signifies that scammers are everywhere which we should really be aware on our actions.Be vigilant on anytime since we are talking money on here. The reason why do price is different its normal because sellers will normally rise up their prices because of profit reasons.

[fiulpro]

The price simply depends upon the quantity of investors

they are getting and the number of transactions that's

been generated there..


And all this is something dependent on the site also you

will find the value of bitcoins higher in many countries for

example Zimbabwe and that's just because of the demand

 and supply rule at that particular sector which we are

considering..


Thus very obviously the price will be higher if there is high

demand on that particular site..

[farhaan]

Unlike exchanges,localbitcoins is a website which provides platform for individual buyers and sellers to do their trade.Here we could even directly buy bitcoins from a trader by holding a meeting with him personally.Here sellers offers their price as per they decide and they don't offer the exact market price of bitcoin.Mostly the price is very high from market price.But the buyers price is good and it is also higher than the market price.That's why,i always use LBC to sell my bitcoins and not to buy.

[BartS]

Because localbitcoins.com it self don't have the control over the seller on their site. The seller has the authority to change the price which the seller could take advantage of that. That's the bad thing localbitcoins. Some sellers are abusive at their pricing. They price too much compares to exchanges regular price. Others are scammers. So be careful dealing with sellers there. Make sure you check everything before you make order to avoid mistakes which cause you losses. I saw a user here bought $200+ worth of Bitcoin for $875. That's not even on it's half.

At the end of the day if people decide to accept a bad deal that is their fault, this is no different than to look for the best prices for any product, you need to look at different providers and choose the one that has a good combination of reputation and good price, after all bitcoin is about establishing a true free market and if people want to charge a fortune for their bitcoin they can do it.

[IndzheborgC]

A possible big difference is not always a fraud. It may well be a fee for the risk of losing their money with such a non-automated exchange. Perhaps this is related to the difficulties of cashing (transfer to / back fiat) of these amounts. Another option is that there is insider information about a strong change in the bitcoin rate and this is reflected in the price.

[sarijaya4444]

People who buy on Localbitcoins above market price ARE ALL SCAMMERSS! Try to sell on them and you'll get chargeback on your Paypal account the next day. AVOID Localbitcoins and Paxful!!