If I am selling BTC on localbitcoins is it safe to accept cash deposit?

[Money Boy]

Is it reversible if the one who deposit make a claim to bank? Is there any different between  cash deposit over machine and over the counter? Could cash deposit get us in trouble if the money is  stolen fund or obtained illegally? Due to my notice there already been cases whereby bitcoin seller been requested to return the stolen money to rightful owner as suffer huge losses.

[Dogtanian]

Is it reversible if the one who deposit make a claim to bank? Is there any different between  cash deposit over machine and over the counter? Could cash deposit get us in trouble if the money is  stolen fund or obtained illegally? Due to my notice there already been cases whereby bitcoin seller been requested to return the stolen money to rightful owner as suffer huge losses.

I think its pretty safe. I don't think bank transfers are reversible.

[Money Boy]

Bank transfer should be reversible especially receiving unauthorized payment from a stolen bank account. Due to my understanding the bank would at first freeze your bank account for preventing you from withdrawing the money. I my opinion  I would be defenseless if I am facing such cases and  suffer huge losses.

[Lucky Cris]

I think its pretty safe. I don't think bank transfers are reversible.

WRONG! Yes, they are.

OP, if they're making a "cash" deposit into your account, how could one, to include the bank, tell whether the cash was obtained illegally? The safest bet is to have the buyer physically go to your bank and make a cash deposit. I wouldn't trust wires or transfers of any kind.

[Lucky Cris]

Bank transfer should be reversible especially receiving unauthorized payment from a stolen bank account. Due to my understanding the bank would at first freeze your bank account for preventing you from withdrawing the money. I my opinion  I would be defenseless if I am facing such cases and  suffer huge losses.

Yip, you're on the right track. That would more than likely happen. Much better outcome with actually depositing money in the account.

[Money Boy]

I think its pretty safe. I don't think bank transfers are reversible.

WRONG! Yes, they are.

OP, if they're making a "cash" deposit into your account, how could one, to include the bank, tell whether the cash was obtained illegally? The safest bet is to have the buyer physically go to your bank and make a cash deposit. I wouldn't trust wires or transfers of any kind.

For example if someone were using obtain the ransom obtain from kidnapping and somehow police found out part of the money been  moved into my account. I might be thinking too much but i just plan to play safe..

[Dogtanian]

I think its pretty safe. I don't think bank transfers are reversible.

WRONG! Yes, they are.

OP, if they're making a "cash" deposit into your account, how could one, to include the bank, tell whether the cash was obtained illegally? The safest bet is to have the buyer physically go to your bank and make a cash deposit. I wouldn't trust wires or transfers of any kind.

For example if someone were using obtain the ransom obtain from kidnapping and somehow police found out part of the money been  moved into my account. I might be thinking too much but i just plan to play safe..

What kind of people are you going to be dealing with? lol. Any money you ever hold could be stolen money.

[Lucky Cris]

For example if someone were using obtain the ransom obtain from kidnapping and somehow police found out part of the money been  moved into my account. I might be thinking too much but i just plan to play safe..

Yes, you are; thinking too much into it, that is. But let's do a quick exercise. Pull out a bill from your pocket... 9 out 10 that bill has traces of drugs on it. It was probably obtained illegally at one point in its life, right? Ok, to be fair, monies used in ransom could be traced if serial numbers were captured... but wait, bank tellers put all those bills in the same drawer anyways... this can go on and on. Point is, you'll be fine. Hell, at least you have coins to sell.

[Money Boy]

I think its pretty safe. I don't think bank transfers are reversible.

WRONG! Yes, they are.

OP, if they're making a "cash" deposit into your account, how could one, to include the bank, tell whether the cash was obtained illegally? The safest bet is to have the buyer physically go to your bank and make a cash deposit. I wouldn't trust wires or transfers of any kind.

For example if someone were using obtain the ransom obtain from kidnapping and somehow police found out part of the money been  moved into my account. I might be thinking too much but i just plan to play safe..

What kind of people are you going to be dealing with? lol. Any money you ever hold could be stolen money.

I think its pretty safe. I don't think bank transfers are reversible.

WRONG! Yes, they are.

OP, if they're making a "cash" deposit into your account, how could one, to include the bank, tell whether the cash was obtained illegally? The safest bet is to have the buyer physically go to your bank and make a cash deposit. I wouldn't trust wires or transfers of any kind.

For example if someone were using obtain the ransom obtain from kidnapping and somehow police found out part of the money been  moved into my account. I might be thinking too much but i just plan to play safe..

What kind of people are you going to be dealing with? lol. Any money you ever hold could be stolen money.

I am planning to sell / buy btc at localbitcoins . My curent plan is  to do my homework now before it is too late 

Due to my understanding I might get myself in great trouble if I dint done enuf reasearch before engage in bitcoin trading.

My concern now if I ever come across such cases, therefore how should i react. Prevention method?How to mitigate my risk?

[Dogtanian]

I think its pretty safe. I don't think bank transfers are reversible.

WRONG! Yes, they are.

OP, if they're making a "cash" deposit into your account, how could one, to include the bank, tell whether the cash was obtained illegally? The safest bet is to have the buyer physically go to your bank and make a cash deposit. I wouldn't trust wires or transfers of any kind.

For example if someone were using obtain the ransom obtain from kidnapping and somehow police found out part of the money been  moved into my account. I might be thinking too much but i just plan to play safe..

What kind of people are you going to be dealing with? lol. Any money you ever hold could be stolen money.

I think its pretty safe. I don't think bank transfers are reversible.

WRONG! Yes, they are.

OP, if they're making a "cash" deposit into your account, how could one, to include the bank, tell whether the cash was obtained illegally? The safest bet is to have the buyer physically go to your bank and make a cash deposit. I wouldn't trust wires or transfers of any kind.

For example if someone were using obtain the ransom obtain from kidnapping and somehow police found out part of the money been  moved into my account. I might be thinking too much but i just plan to play safe..

What kind of people are you going to be dealing with? lol. Any money you ever hold could be stolen money.

I am planning to sell / buy btc at localbitcoins . My curent plan is  to do my homework now before it is too late 

Due to my understanding I might get myself in great trouble if I dint done enuf reasearch before engage in bitcoin trading.

My concern now if I ever come across such cases, therefore how should i react. Prevention method?How to mitigate my risk?

You can't really. I think best bet is to not worry, or if you can't stop worrying or being uncomfortable, maybe trading bitcoin isnt for you.

[Money Boy]

I think its pretty safe. I don't think bank transfers are reversible.

WRONG! Yes, they are.

OP, if they're making a "cash" deposit into your account, how could one, to include the bank, tell whether the cash was obtained illegally? The safest bet is to have the buyer physically go to your bank and make a cash deposit. I wouldn't trust wires or transfers of any kind.

For example if someone were using obtain the ransom obtain from kidnapping and somehow police found out part of the money been  moved into my account. I might be thinking too much but i just plan to play safe..

What kind of people are you going to be dealing with? lol. Any money you ever hold could be stolen money.

I think its pretty safe. I don't think bank transfers are reversible.

WRONG! Yes, they are.

OP, if they're making a "cash" deposit into your account, how could one, to include the bank, tell whether the cash was obtained illegally? The safest bet is to have the buyer physically go to your bank and make a cash deposit. I wouldn't trust wires or transfers of any kind.

For example if someone were using obtain the ransom obtain from kidnapping and somehow police found out part of the money been  moved into my account. I might be thinking too much but i just plan to play safe..

What kind of people are you going to be dealing with? lol. Any money you ever hold could be stolen money.

I am planning to sell / buy btc at localbitcoins . My curent plan is  to do my homework now before it is too late  

Due to my understanding I might get myself in great trouble if I dint done enuf reasearch before engage in bitcoin trading.

My concern now if I ever come across such cases, therefore how should i react. Prevention method?How to mitigate my risk?

You can't really. I think best bet is to not worry, or if you can't stop worrying or being uncomfortable, maybe trading bitcoin isnt for you.

After reading few cases of bitcoin fraud and scam. I found out that there is a need for me to do case study and go through all the method that can be used. I do plan to  continue buy and sell at local or through exchange.I am totally agree with you that i am worry too much. But no harm if i list out all the risk i might facing and draft my contingency plan.

[Lucky Cris]

I think its pretty safe. I don't think bank transfers are reversible.

WRONG! Yes, they are.

OP, if they're making a "cash" deposit into your account, how could one, to include the bank, tell whether the cash was obtained illegally? The safest bet is to have the buyer physically go to your bank and make a cash deposit. I wouldn't trust wires or transfers of any kind.

For example if someone were using obtain the ransom obtain from kidnapping and somehow police found out part of the money been  moved into my account. I might be thinking too much but i just plan to play safe..

What kind of people are you going to be dealing with? lol. Any money you ever hold could be stolen money.

I think its pretty safe. I don't think bank transfers are reversible.

WRONG! Yes, they are.

OP, if they're making a "cash" deposit into your account, how could one, to include the bank, tell whether the cash was obtained illegally? The safest bet is to have the buyer physically go to your bank and make a cash deposit. I wouldn't trust wires or transfers of any kind.

For example if someone were using obtain the ransom obtain from kidnapping and somehow police found out part of the money been  moved into my account. I might be thinking too much but i just plan to play safe..

What kind of people are you going to be dealing with? lol. Any money you ever hold could be stolen money.

I am planning to sell / buy btc at localbitcoins . My curent plan is  to do my homework now before it is too late 

Due to my understanding I might get myself in great trouble if I dint done enuf reasearch before engage in bitcoin trading.

My concern now if I ever come across such cases, therefore how should i react. Prevention method?How to mitigate my risk?

You can't really. I think best bet is to not worry, or if you can't stop worrying or being uncomfortable, maybe trading bitcoin isnt for you.

After reading few cases of bitcoin fraud and scam. I found out that there is a need for me to do case study and go through all the method that can be used. I do plan to  continue buy and sell at local or through exchange.I am totally agree with you that i am worry too much. But no harm if i list out all the risk i might facing and draft my contingency plan.

Okay, I'm curious now. You must be making some mighty big deals. And if that's the case, I think I'd be more worried about getting jacked or some shit!

[Money Boy]

no big deals yet since I am still new but my I  do have desire

[Kenshin]

Accepting cash deposit on localbitcoins is safe. You will see the fund in your account, before you release your bitcoins.

[e521]

When I have to meet people I usually set the meeting inside my local branch, banks have so many cameras, if I feel I am still not secure enough I ask the guy to deposit the money in my bank account!
No way I can get scammed this way

[bryant.coleman]

In most of the countries bank transfers are reversible. And international bank transactions (wire) are normally traced by tax authorities also. Go for a WU transfer. As far as I know, it is more safe and anonymous as compared to bank wire.

[Dogtanian]

In most of the countries bank transfers are reversible. And international bank transactions (wire) are normally traced by tax authorities also. Go for a WU transfer. As far as I know, it is more safe and anonymous as compared to bank wire.

What's a WU transfer?

So how do people reverse bank transfers?

[Money Boy]

In most of the countries bank transfers are reversible. And international bank transactions (wire) are normally traced by tax authorities also. Go for a WU transfer. As far as I know, it is more safe and anonymous as compared to bank wire.

What's a WU transfer?

So how do people reverse bank transfers?

Western Union (WU) is one of the best choice of payment.

So how do people reverse bank transfers?
For example money from stolen bank account.

[Dogtanian]

In most of the countries bank transfers are reversible. And international bank transactions (wire) are normally traced by tax authorities also. Go for a WU transfer. As far as I know, it is more safe and anonymous as compared to bank wire.

What's a WU transfer?

So how do people reverse bank transfers?

Western Union (WU) is one of the best choice of payment.

So how do people reverse bank transfers?
For example money from stolen bank account.

I understand it could be done if the money was stolen etc, but if I accepted a bank transfer, could the owner then do a PayPal on me and reverse it for no valid reason and get his money back and leave me out?

[Jcw188]

In most of the countries bank transfers are reversible. And international bank transactions (wire) are normally traced by tax authorities also. Go for a WU transfer. As far as I know, it is more safe and anonymous as compared to bank wire.

What's a WU transfer?

So how do people reverse bank transfers?

Western Union (WU) is one of the best choice of payment.

So how do people reverse bank transfers?
For example money from stolen bank account.

I understand it could be done if the money was stolen etc, but if I accepted a bank transfer, could the owner then do a PayPal on me and reverse it for no valid reason and get his money back and leave me out?

I think it would only be if they claimed that there was some fraud going on.  So if I were you I would document somehow that you sent the BTC to the person, and that was your agreement (that you would send X btc for X dollars).