Anyone using localcryptos?

[Little Mouse]

Localcryptos allow users to trade without verifying the identity. Since bitcoin is not legal in our country, I do not fill KYC as long as possible.
Anyway, localcryptos have payment system of seller preferences. What do you think? Is not it easy to target any trader of localcryptos by legal authority like local police as bitcoin is illegal here? I am trying to sell BTC there, I got some connects but it seems too risky for me if I continue the deal. Opinions.

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[o_e_l_e_o]

Do you mean a scenario where the police pose as a potential buyer or seller on LocalCryptos so they can see your details on the bank transfer? It's certainly possible. I don't know what country you are in, so only you will know if that is something that is likely or even legal, as some countries have laws against sting operations such as this.

If you want to avoid transmitting your details in any form to the other party, then you need to choose an anonymous fiat payment method. You can see the list of accepted payment methods here: https://localcryptos.com/payment-methods. Paying in cash or gift cards is going to be the most anonymous method.

[TheUltraElite]

Since the Bangladesh government has considered Bitcoin as illegal, this is a risky thing to do.

I dont know how good their CyberCrime department is but chances of Police posing as LC buyer is less than what would be happening in US and UK. But still you should not take chances. It is better for you to go for P2P trades, but for that you have to seek out buyers and sellers in your local community and exchange with them, @shasan is one of them, you might know them from the "Lending" section.

I know it sounds unrealistic, but if you can wait it out till government there becomes lenient about crypto and allows exchanges to be made from there. That would be the safest option. You could also go with trusted buyers on LC using other methods of payment, but they have their own drawbacks and problems.

All in all, its more of a stalemate for people living there.

[Findingnemo]

Localcryptos allow users to trade without verifying the identity. Since bitcoin is not legal in our country, I do not fill KYC as long as possible.
Anyway, localcryptos have payment system of seller preferences. What do you think? Is not it easy to target any trader of localcryptos by legal authority like local police as bitcoin is illegal here? I am trying to sell BTC there, I got some connects but it seems too risky for me if I continue the deal. Opinions.

If you are not giving any traces of cryptos while sending or receiving money in your bank account then its very less chance to get caught but when it is illegal then it is illegal, if you get caught then you will be facing legal actions but localcryptos is p2p site they will not involve in this, the only issue for buyer and seller.

[Bitcoin_Arena]

You have to be careful mate. Back then when localbitcoins was not so strict with verification. I had a friend who got arrested by security authorities as part of an investigation. Turns out the person he had traded with was involved in embezzlement and money laundering and they were try to follow the money trail.

localcryptos is p2p site they will not involve in this, the only issue for buyer and seller.

You are wrong about this. They will give up your information such as IP logs, Email address, Phone number, trading patterns if authorities come knocking. It's there in their Terms and conditions

Sharing your personal information
We also may disclose your personal information to:

- others in accordance with a request made by you – for example, if your username is your real name, then we will list this when you ask to be listed on the LocalCryptos marketplace;
- our third party service providers engaged by us to perform business and technology services, when reasonably required;
- third parties for targeted advertising purposes, only if you came to LocalCryptos via a paid advertisement;
- law enforcement bodies – both if required by a warrant or voluntarily if we suspect you have engaged in fraud or misuse; and
- persons to whom we are required by law to disclose information.

https://localcryptos.com/terms/privacy-policy

[Findingnemo]

localcryptos is p2p site they will not involve in this, the only issue for buyer and seller.

You are wrong about this. They will give up your information such as IP logs, Email address, Phone number, trading patterns if authorities come knocking. It's there in their Terms and conditions

Sharing your personal information
We also may disclose your personal information to:

- others in accordance with a request made by you – for example, if your username is your real name, then we will list this when you ask to be listed on the LocalCryptos marketplace;
- our third party service providers engaged by us to perform business and technology services, when reasonably required;
- third parties for targeted advertising purposes, only if you came to LocalCryptos via a paid advertisement;
- law enforcement bodies – both if required by a warrant or voluntarily if we suspect you have engaged in fraud or misuse; and
- persons to whom we are required by law to disclose information.

https://localcryptos.com/terms/privacy-policy

Not sure about the localcryptos but I faced a similar scam from localbitcoin where they only banned the account and they said they can't do much other than this, who tried to trade with an account which involved in illegal activities or from hacked one.

Localcryptos have no KYC policies so it is easy to fake the documents which are available for even less than a dollar.

[Little Mouse]

Paying in cash or gift cards is going to be the most anonymous method.

No idea about gift card. But how paying in cash is anonymous. I missed your point. The receiving option we have for cash is bank, mobile banking etc. which is very risky as all this have my documents.

I dont know how good their CyberCrime department is but chances of Police posing as LC buyer is less than what would be happening in US and UK.

They are not bad at all but so far, I did not see any investigation on crypto activities. Years ago, some traders got jailed, media said it was for trading bitcoin but the reality was they scammed a guy and that was the main reason.
There are a lot of users in localcryptos, localbitcoin, paxful and they are trading without any problem.
Thank for recommending shasan to me. I will talk with him.

[o_e_l_e_o]

They will give up your information such as IP logs, Email address, Phone number, trading patterns if authorities come knocking. It's there in their Terms and conditions

Yes. If bitcoin is illegal, you should absolutely be protecting your identity online. This means a burner email address, no phone number or other personal information, only connecting via Tor.

No idea about gift card. But how paying in cash is anonymous. I missed your point. The receiving option we have for cash is bank, mobile banking etc. which is very risky as all this have my documents.

I don't know about the specifics of your country, but you can pay with cash in person, arrange a drop off point, post cash through the mail, perform a cash deposit to somebody else's account, etc. In addition to gift cards, you could also potentially trade for pre-paid debit or credit cards.

[OmegaStarScream]

@Little Mouse If these are your only worries:

Do you mean a scenario where the police pose as a potential buyer or seller on LocalCryptos so they can see your details on the bank transfer? It's certainly possible. I don't know what country you are in, so only you will know if that is something that is likely or even legal, as some countries have laws against sting operations such as this.

Then why not use PayPal, PM or Skrill? AFAIK, your country is never disclosed to the other party. Furthermore, you can always change your location in LocalCryptos.

[bL4nkcode]

@Little Mouse If these are your only worries:

Do you mean a scenario where the police pose as a potential buyer or seller on LocalCryptos so they can see your details on the bank transfer? It's certainly possible. I don't know what country you are in, so only you will know if that is something that is likely or even legal, as some countries have laws against sting operations such as this.

Then why not use PayPal, PM or Skrill? AFAIK, your country is never disclosed to the other party. Furthermore, you can always change your location in LocalCryptos.

It would be a big help, only if Little Mouse's bank accepts paypal funds, AFAIK some banks don't accept transfers from paypal, like what I experience on one of my banks I used here in my country.

[Little Mouse]

I don't know about the specifics of your country, but you can pay with cash in person, arrange a drop off point, post cash through the mail, perform a cash deposit to somebody else's account, etc. In addition to gift cards, you could also potentially trade for pre-paid debit or credit cards.

Before the lockdown, I used to deal with cash in person but now it is not anymore possible. Thank you for the recommendations.

Then why not use PayPal, PM or Skrill?

Paypal does not have service in our country. There is alsp another problem when you want to exchange USD to BDT.  I can sell BTC dollar above current rate, it depends on demand supply but paypal USD is far lower than the current USD/BDT rate.
Locking the thread.