Is localbitcoins safe?

[KungFuShako]

Hello, is selling on localbitcoins safe? Seller with many feedback could have bought that account.

And when he sends it via bank transfer is that possible from him to ask for refund? And bank send him that money?

Please help, want to sell bitcoin but I'm afraid to get scammed.

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[Alluro]

I have used localbitcoins few times. I didn't get any problem. First read their feedback and ratings. You can deal with verified persons too.

[dothebeats]

Hello, is selling on localbitcoins safe? Seller with many feedback could have bought that account.

And when he sends it via bank transfer is that possible from him to ask for refund? And bank send him that money?

Please help, want to sell bitcoin but I'm afraid to get scammed.

It's always good to have second thoughts when it comes to your money. You could ask for the seller to provide any valid ID's they have and keep it for your sake just in case the seller scammed you. There is still a possibility that a LBC seller would be a fraud one no matter how many positive ratings the account has. And as for bank transfers, AFAIK as soon as the owner of the account himself already authorized a transfer, there's no way you can cancel that transaction. These chargebacks only work on PP fraudsters.

And no, LBC automatically blocks bought accounts once they found out about it.

[Roam-man]

It's risky. Usually, everything is fine but sometimes people get scammed. Be careful there.

[messi_oc]

What are localbitcoins?

[KungFuShako]

Thank you guys for responses, before selling I will ask for ID card, then match names of localbitcoins and bank owner, I think that would be pretty safe.

[MintDice]

There are many scams and you need to use caution and fees can be slightly high when buying with cash but the difference between Local Bitcoins and most exchanges is that LocalBitcoins does not require personal information when making good trades. Unlike other exchanges, which require ID verification and personal information, Local Bitcoins allows you to buy bitcoin without connecting your name to the bitcoin you’re buying. It's also one of the most private ways to purchase Bitcoin.

[wizmo]

Hello, is selling on localbitcoins safe? Seller with many feedback could have bought that account.

And when he sends it via bank transfer is that possible from him to ask for refund? And bank send him that money?

Please help, want to sell bitcoin but I'm afraid to get scammed.

Localbitcoins is currently one of the biggest trading platform but you have to be careful while trading otherwise you might get scammed. I've never had any problems there and once the money deposited into your bank account bank can't reverse it back without your permission. 

[bencs22]

Its safe if you stick to the big traders with high feedback/large quantity of trades.

Another thing is cash deposits into a bank account cant be reversed, whereas a bank transfer can be.

Basically stick to large traders and you will be fine, generally these guys use business bank accounts.

[jmpelon18]

I've done a lot of research and want to get into the whole bitcoin buy/sell.

I've done some research and localbitcoins came up as a good site to safetly exchange bitcoin

[BTCforJoe]

Only deal with trusted buyers and sellers on LBC. You can look through their feedback history to see what kind of volumes and frequency they sell/buy for. Watch out for long gaps between trading history, as that could potentially mean that the account was purchased.

A great tip is to view some of the formats of what others' conditions and terms are for transactions, and that will give you a better idea of what others ask for when making a deal.

I've had 100% success rate on LocalBitcoins. There's definitely a risk, so ALWAYS make sure to trade with someone with great feedback and trust.

[Marteel]

I never used localbitcoins. Why would you do that? I recommend you to not take any risk nowadays, because BTC is not cheap like old times.

[odolvlobo]

Hello, is selling on localbitcoins safe? Seller with many feedback could have bought that account.
And when he sends it via bank transfer is that possible from him to ask for refund? And bank send him that money.
Please help, want to sell bitcoin but I'm afraid to get scammed.

Buying bitcoins on localbitcoins is very safe as long as you stay in the escrow system.

Selling bitcoins on localbitcoins can be risky, mostly because transactions through most online payments can be reversed and Bitcoin transactions cannot. I would recommend becoming very experienced with using localbitcoins before selling, and then being very careful with online selling because newbie sellers are targeted by scammers.

When I sold bitcoins on localbitcoins, I only did face-to-face transactions with cash to avoid getting scammed.

[jkv_crypto]

Yes, it is safe. But their rates are too high. If you buy with Coinbase, Bitstamp, Coinmama, You can get more BTC for the same price you spend on localbitcoin.

[chaitanya31]

It’s pretty safe, but it only depends on you. Make your own research before buying, find only trusted and reputable members for making a purchase, read Localbitcoins inside guidelines for that.

[coinmaster241]

I've tried to buy in localbitcoin with paypal payment, unfortunately very rare that can buy under $ 10,
see the exchange's feedback ... can also determine its credibility

[Abdussamad]

Hello, is selling on localbitcoins safe? Seller with many feedback could have bought that account.

And when he sends it via bank transfer is that possible from him to ask for refund? And bank send him that money?

Please help, want to sell bitcoin but I'm afraid to get scammed.

The answer depends on the banking system of your country. If bank transfers are reversible in your country then its possible for a bitcoin buyer to scam you like this. If that is the case then you should only deal in person with cash. Yes you can meet buyers on localbitcoins that will meet up with you in person and buy for cash.

[pixie85]

Yes, it is safe. But their rates are too high. If you buy with Coinbase, Bitstamp, Coinmama, You can get more BTC for the same price you spend on localbitcoin.

That's because transfers are more anonymous as they are giving you a chance to transact in cash. Hiding your transaction from the banking system isn't free.
I think localbitcoins is fairly safe especially if you do the cash transactions. Just remember to be safe and always take a wingman with you.

[ManMadeBox]

I bought some before but I would strongly recommend that you get a reference from someone you trust before diving into it

[Rkoshay]

Yes, it is safe. But their rates are too high. If you buy with Coinbase, Bitstamp, Coinmama, You can get more BTC for the same price you spend on localbitcoin.

This is what I noticed too when I was thinking of using them a couple of weeks ago.  The average BTC was hundreds of dollars more than on an exchange, just checked it again and there's a big variety of pricing, some are actually lower than what's posted on Coin Market Cap.  I guess those sellers need money or anticipating a further drop in the value of BTC.