Beware of LocalBitcoins.com

[Gimmelfarb]

you will always have rare stories of robberies with p2p deals (same with craigslist). i have never had a problem doing in-person deals on localbitcoins, and it doesn't seem like things like that happen too often. +1 on public meeting places.

[InwardContour]

I wouldn't use them for too high of volume. After seeing some of those stories, I definitely figured it best not to be a liquidity provider there. And I prefer to deal in cash only -- P2P and not through the site directly.

Local bitcoins does allow you to meet to do face to face transactions that are not part of their escrow service.

Sure, I know. The only way I use LBC is for in-person cash transactions. However, to be a liquidity provider and be able to charge markup over/under the exchange price, you need to have a good reputation. That means using LBC escrow (paying fees) and garnering confirmed feedback.

There have been several threads on here about attempted robberies at face-to-face LBC transactions when the buyer has tried to steal the seller's phone so the release code could be entered.

I'm sure that's possible, but seems rare and unlikely. Meet in a public place, and preferably deal with people with some level of positive feedback. But mostly, just meet in a public place. Starbucks has cameras -- that's sort of a deterrent...

I would take feedback with a grain of salt as it is always possible in theory that someone could buy a LBC account. I think it is always important to make your safety your #1 priority.

[CEG5952]

I wouldn't use them for too high of volume. After seeing some of those stories, I definitely figured it best not to be a liquidity provider there. And I prefer to deal in cash only -- P2P and not through the site directly.

Local bitcoins does allow you to meet to do face to face transactions that are not part of their escrow service.

Sure, I know. The only way I use LBC is for in-person cash transactions. However, to be a liquidity provider and be able to charge markup over/under the exchange price, you need to have a good reputation. That means using LBC escrow (paying fees) and garnering confirmed feedback.

There have been several threads on here about attempted robberies at face-to-face LBC transactions when the buyer has tried to steal the seller's phone so the release code could be entered.

I'm sure that's possible, but seems rare and unlikely. Meet in a public place, and preferably deal with people with some level of positive feedback. But mostly, just meet in a public place. Starbucks has cameras -- that's sort of a deterrent...

I would take feedback with a grain of salt as it is always possible in theory that someone could buy a LBC account. I think it is always important to make your safety your #1 priority.

Of course. Always take things of that sort with a grain of salt. But remember, LBC labels low volume trades as such in feedback. And confirmed trades = % fees on every transaction paid to LBC. So there is clearly financial disincentives in place to padding feedback for the purpose of scamming or selling an account.

[DannyElfman]

you will always have rare stories of robberies with p2p deals (same with craigslist). i have never had a problem doing in-person deals on localbitcoins, and it doesn't seem like things like that happen too often. +1 on public meeting places.

CL and LBC are both dangerous when meeting a stranger in person. You should always meet in a very public place with lots of potential witnesses.

I have never personally been robbed but have dealt with a few very sketchy people.

[CEG5952]

you will always have rare stories of robberies with p2p deals (same with craigslist). i have never had a problem doing in-person deals on localbitcoins, and it doesn't seem like things like that happen too often. +1 on public meeting places.

CL and LBC are both dangerous when meeting a stranger in person. You should always meet in a very public place with lots of potential witnesses.

I have never personally been robbed but have dealt with a few very sketchy people.

I've used CL and LBC loads of times. Never had any problems. Of course you hear of horror stories here and there. When large amounts of money are involved, certainly meet in a public place. There is really no reason NOT to meet in public with a bitcoin transfer. But I've sold some furniture and stuff out of my house on CL.

[HarryT1923]

i've used LBC a few times. never had any problems myself. YMMV.

[DannyElfman]

you will always have rare stories of robberies with p2p deals (same with craigslist). i have never had a problem doing in-person deals on localbitcoins, and it doesn't seem like things like that happen too often. +1 on public meeting places.

CL and LBC are both dangerous when meeting a stranger in person. You should always meet in a very public place with lots of potential witnesses.

I have never personally been robbed but have dealt with a few very sketchy people.

I've used CL and LBC loads of times. Never had any problems. Of course you hear of horror stories here and there. When large amounts of money are involved, certainly meet in a public place. There is really no reason NOT to meet in public with a bitcoin transfer. But I've sold some furniture and stuff out of my house on CL.

I would say that the vast majority of CL and LBC transactions will go through without a hitch (I would say that you get a lot of "no shows" but the only thing lost here is time) but when things go wrong they can go very wrong.

[CryptInvest]

Nevertheless, it is the only peer to peer service for buying Bitcoins working globally.

[jpoker272727]

Yeah I didn't read all the replies, but the OP is wayy off with every statement made.  I have over 500 ONLINE trades, and have traded over 100 BTC's in 14 months, have ran into ONE issue only, about 6 months ago.  I did get screwed once for about $300, (someone mailed me counterfeit money), so I guess its not 100% secure, but with over 500 trades from everything from Paypal and credit cards, to Postal Orders and Moneygram, from experience, I can say, it's safe, and the OP is flat out wrong.

[rivoke]

You have to be careful on any trade you make on everything but that doesnt make localbitcoins a scam .

[greenglobal]

Obviously I am a bit late in this post, but as I have over 2000 trades on LBC and turned over more $$$ than I would like to admit, I thought my feedback may help some people. Be aware that I am a trader and just buy at wholesale (When I can get it) and mark up a little and on sell. Generally I buy from mini 1st time sellers up some serious game players. The fight for me is just getting enough ongoing stock for my customer base. Really doesnt matter what quanity I get, normally I am out within minutes to a few hrs, that is not to say we do not go through some dull patches.
Either way, the issue isnt getting scammed a few $100 to a Few $1000. That is peanuts. The issue is Banks having zero tollerence for LBC in general (at least for Australia). A bank will shut down your account for even taking a few $100's from a Pilshed bank account. and that will cost you $100,000's of long term income ESPECIALLY CBA as they are king (and yes I lost that one, Fucking ouch)
Scammers dont stop, they still try with me every now and then, now I am concrete solid, follow my terms or hit the road. Big question is why would they still try on me when there are newbee's everywhere.

BIG THING, issue is not someone scamming you for the coins. Issue is taking the payment from a stolen bank account. BOTTOM LINE. NEVER NEVER EVER GIVE YOUR BANK ACCOUNT TO ANYONE WITHOUT CHECKING THEM OUT. They will send you cash no matter what your terms are and play dumb.

Hope someone gets something from my info.
AND if there are any out of work bikies out there. I am happy to pay $2000 to $5000 from some of my past scammers (Before I wised up) to find them, stick a bottle up their ass and smash it. Dont care if they took $100 from me, same reward.

Anyway here is my Bible, hope it protects someone. If anyone cares, this is me...   https://localbitcoins.com/accounts/profile/greenglobal/

FRAUDSTERS READ THIS, PEOPLE WANTING TO AVOID FRAUDSTERS READ THIS.
This is warning for sellers, if you are a buyer, then you are already protected by Escrow, Just mark paid when done and before timeout and you have nothing to worry about.
All Fraudsters/ Sellers should know the following

1.   I am aware that people try and pay sellers with stolen Bank/ PayPal Accounts obtained by Pilshing. Banks will generally shutdown stolen bank accounts within 24 to 48 hrs. I will never give out my banking details until you provide ALL OF THE ABOVE ID REQUIREMENTS ABOVE). New traders will never get their coins released until funds have been cleared in my account (24 to 48 hrs Max).
2.   Online transfers from CBA is the safest because the user must have a SMS/txt from CBA/Netbank with a security code to complete the transfer. HOWEVER, I am aware that Fraudsters also PORT the victim's mobile number so they also have control of the txt, meaning they have access to the online banking and the mobile and have full control of sending the funds. They can also break into the victim’s house and Steal their phone too. Saying this, CBA is still the safest option as ALL OTHER BANKS SECURITY IS USELESS. Any Pilshed account means they can immediately send funds out to a bitcoin seller. DO NOT EVER IMMEDIATELY GIVE YOUR BANK DETAILS TO ANYONE UNTIL 100% SATISFIED THAT THE BUYER IS REAL!!!
3.    Bitcoin trading is not tolerated by any bank. If you get a payment from any Pilshed account, The bank will shut your account down and ban you from ever opening another (Even a Pty Ltd if you are the signature behind it). I have lost CBA, NAB and Suncorp for this reason. Even for a $200 payment. This = $100,000's is lost trade. Don’t trust anyone except MAYBE Pro Traders with 500 plus trades. (We have to much invested in BTC to scam anyone)
4.   I am aware that Fraudsters are Experts of Photoshop and supply doctored Proof of payments. I am an expert Photoshop too and know exactly what to look for. Proof of payment means nothing without money in the bank. If accepting CBA/NETBANK, get the buyer to add your email to the "3rd party Notification" in the app/ online sending. That way you get notification from the bank themselves and not the buyer. BUT be aware, you only see the last few numbers of your account on the email so also is not without fault.
5.    I am aware that Fraudsters are Experts of Photoshop and supply doctored Proof of ID and Address. I am a expert Photoshop too and know exactly what to look for. Always inspect all documents supplied in highest magnification.
6.   I am aware that if it comes to a dispute between a seller and a Fraud Buyer, It is only your word vs his. A fraudster has nothing better to do than give stories to LBC admin and try and get a payday after LBC admin Mediation (Maybe even a 50% share. Just because the seller is right, don’t assume you can win. They can Photoshop whatever is needed and say that you Photoshop yours docs. Make it hard from them at the start and they will leave you alone. THEY ARE EVERYWHERE IN LBC.
7.   More to come, Fraudsters, Piss off. There is nothing for you here.

[sethminer14]

I've used localbitcoins before. I think you just gotta have some common sense, It's usually easy to pick out a scammer. Like OP said though, there is definite risk when using currency with irreversible transactions

[bitcart]

There's nothing to be worried about as a buyer when you use escrow.

[chronicsky]

Obviously I am a bit late in this post, but as I have over 2000 trades on LBC and turned over more $$$ than I would like to admit, I thought my feedback may help some people. Be aware that I am a trader and just buy at wholesale (When I can get it) and mark up a little and on sell. Generally I buy from mini 1st time sellers up some serious game players. The fight for me is just getting enough ongoing stock for my customer base. Really doesnt matter what quanity I get, normally I am out within minutes to a few hrs, that is not to say we do not go through some dull patches.
Either way, the issue isnt getting scammed a few $100 to a Few $1000. That is peanuts. The issue is Banks having zero tollerence for LBC in general (at least for Australia). A bank will shut down your account for even taking a few $100's from a Pilshed bank account. and that will cost you $100,000's of long term income ESPECIALLY CBA as they are king (and yes I lost that one, Fucking ouch)
Scammers dont stop, they still try with me every now and then, now I am concrete solid, follow my terms or hit the road. Big question is why would they still try on me when there are newbee's everywhere.

BIG THING, issue is not someone scamming you for the coins. Issue is taking the payment from a stolen bank account. BOTTOM LINE. NEVER NEVER EVER GIVE YOUR BANK ACCOUNT TO ANYONE WITHOUT CHECKING THEM OUT. They will send you cash no matter what your terms are and play dumb.

Hope someone gets something from my info.
AND if there are any out of work bikies out there. I am happy to pay $2000 to $5000 from some of my past scammers (Before I wised up) to find them, stick a bottle up their ass and smash it. Dont care if they took $100 from me, same reward.

Anyway here is my Bible, hope it protects someone. If anyone cares, this is me...   https://localbitcoins.com/accounts/profile/greenglobal/

FRAUDSTERS READ THIS, PEOPLE WANTING TO AVOID FRAUDSTERS READ THIS.
This is warning for sellers, if you are a buyer, then you are already protected by Escrow, Just mark paid when done and before timeout and you have nothing to worry about.
All Fraudsters/ Sellers should know the following

1.   I am aware that people try and pay sellers with stolen Bank/ PayPal Accounts obtained by Pilshing. Banks will generally shutdown stolen bank accounts within 24 to 48 hrs. I will never give out my banking details until you provide ALL OF THE ABOVE ID REQUIREMENTS ABOVE). New traders will never get their coins released until funds have been cleared in my account (24 to 48 hrs Max).
2.   Online transfers from CBA is the safest because the user must have a SMS/txt from CBA/Netbank with a security code to complete the transfer. HOWEVER, I am aware that Fraudsters also PORT the victim's mobile number so they also have control of the txt, meaning they have access to the online banking and the mobile and have full control of sending the funds. They can also break into the victim’s house and Steal their phone too. Saying this, CBA is still the safest option as ALL OTHER BANKS SECURITY IS USELESS. Any Pilshed account means they can immediately send funds out to a bitcoin seller. DO NOT EVER IMMEDIATELY GIVE YOUR BANK DETAILS TO ANYONE UNTIL 100% SATISFIED THAT THE BUYER IS REAL!!!
3.    Bitcoin trading is not tolerated by any bank. If you get a payment from any Pilshed account, The bank will shut your account down and ban you from ever opening another (Even a Pty Ltd if you are the signature behind it). I have lost CBA, NAB and Suncorp for this reason. Even for a $200 payment. This = $100,000's is lost trade. Don’t trust anyone except MAYBE Pro Traders with 500 plus trades. (We have to much invested in BTC to scam anyone)
4.   I am aware that Fraudsters are Experts of Photoshop and supply doctored Proof of payments. I am an expert Photoshop too and know exactly what to look for. Proof of payment means nothing without money in the bank. If accepting CBA/NETBANK, get the buyer to add your email to the "3rd party Notification" in the app/ online sending. That way you get notification from the bank themselves and not the buyer. BUT be aware, you only see the last few numbers of your account on the email so also is not without fault.
5.    I am aware that Fraudsters are Experts of Photoshop and supply doctored Proof of ID and Address. I am a expert Photoshop too and know exactly what to look for. Always inspect all documents supplied in highest magnification.
6.   I am aware that if it comes to a dispute between a seller and a Fraud Buyer, It is only your word vs his. A fraudster has nothing better to do than give stories to LBC admin and try and get a payday after LBC admin Mediation (Maybe even a 50% share. Just because the seller is right, don’t assume you can win. They can Photoshop whatever is needed and say that you Photoshop yours docs. Make it hard from them at the start and they will leave you alone. THEY ARE EVERYWHERE IN LBC.
7.   More to come, Fraudsters, Piss off. There is nothing for you here.

Real good info here , though i always trust LBC but got lil confused after reading the post of OP but thanks to you , and i always trade with people having 100+ feedback atleast

[Kprawn]

I think BurtW must update this thread, with some details on why they arrested him?

If localBitcoins are targeted in the USA or any other country, for whatever reason, we should all know about it. We cannot use a service and then get arrested, for doing something wrong, if everyone kept saying, it was a legitimate operation.

I think this is why, Coinbase is going the regulated / licenced route in the USA, to prevent this from happening to other people.

One of these days, you will not be able to buy Bitcoins, if the NSA/FBI/NASA/ or ALL government institutions have not approved it. {So much for privacy and annonymity}

[bitcart]

I've been trading on LBC for almost 2 years and I've never had any problems meeting face to face.

Online payments require varying levels of caution that cash solves. P2P is very advantageous.

[chronicsky]

I think BurtW must update this thread, with some details on why they arrested him?

If localBitcoins are targeted in the USA or any other country, for whatever reason, we should all know about it. We cannot use a service and then get arrested, for doing something wrong, if everyone kept saying, it was a legitimate operation.

I think this is why, Coinbase is going the regulated / licenced route in the USA, to prevent this from happening to other people.

One of these days, you will not be able to buy Bitcoins, if the NSA/FBI/NASA/ or ALL government institutions have not approved it. {So much for privacy and annonymity}

BurtW hasn't been online since 28 dec , so we don't know where he is , he will surely give us some heads up when he gets back.
Hope he is doing fine

[fishb0ne]

Was gonna use LBC, but then Circle.com came out and it instantly took care of that.

[SpareBits]

How so? Circle has limits on the amounts, LBC does not.

[fishb0ne]

Correct, but those instant access to money limits are increased over time as you conclude more transactions and build trust with Circle. I've only been using it for a few months now, and never used LocalBitcoins, but Circle is amazingly easy to use.
The issue with LocalBitcoins, for my area, is that the sellers are few and far between that are willing to do cash, and they usually have minimum limits that aren't necessarily accessible to everyone, plus their markup is crazy high.
There's pros and cons to each option, Circle works best for me and I have absolutely no reason to ever even look at Localbitcoins.