New buyer @ Localbitcoins

[letunovskeye]

Hello ladies and gentlemen, I will sign up to localbitcoins.com soon and would like to ask your advice on how to make sure the trade will go smooth, I don't lose my money and how to get best price for volume of a few thousands dollars.
1.  Since I will have new profile there, I want sellers to know they can trust me but without feedback as new buyer how can I do it?

2. I see some seller is asking higher price per BTC for bank cash deposit and lower price for payment in person with cash.  Why?  It seems to me that depositing cash in bank account is more safe and faster for the seller, so discount should be provided.

3. Can I negotiate a higher trade volume with the seller before placing a buy order?  For example I see some sellers say limit is $100-$500 but what if I want to buy $2000 or more?

Thank you

[1715416338]

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[1715416338]

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[1715416338]

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[1715416338]

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[1715416338]

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[jp]

I'd buy in person (face-to-face) at a public place. I'm not much of a fan of the escrow service because it's one more impediment to getting the Bitcoins.

1) I don't think many care if buyers have feedback, I never have.
2) I'm really leery about depositing cash other than to the person.
3) Sure. You'll need to find a seller that will sell the amount you requested.

Obviously use common sense. If your gut feels that it's a bad situation, get out. To make things smoother, have your QR code  (your address) ready. Insist that the seller use something other than Coinbase. Coinbase transactions can take a while to show up. You should get a notice immediately that the transaction has been submitted to the network. That's usually good enough.

Feel free to ask more Q's.

[letunovskeye]

Thank you so much jp, this answers most of my questions but since you gave me permission, I ask more  

I agree with you that face to face in public is good so you can exchange money and wait for transactions to be confirmed before ending the trade.  But why is the escrow service an impediment?   Maybe this extra step is the cause for higher asking price for cash deposit method?

The reason I would like to consider an out of town seller is because their ask prices are fairer.  In my area, the sellers are still trying to profit from the btc hype and do not seem to adjust for the recent low of around $600-650, instead they want to sell for much more.  

You suggest Coinbase.  Are they connected to localbitcoins?  

I thought of one more question, of course anyone can answer it.   If I make a cash deposit at an open bank on a weekend, will the seller receive the money the same day, or will they have to wait until next business day, so Monday?

[eddiedude]

I've bought bitcoin from a seller on there we ended up meeting at a local borders and doing the transaction there instead of having them hold it in escrow.