Localbitcoins

[Campsis]

Hi guys,

I was just wondering if anyone out there is actually making a living off by trading at localbitcoins? If so, how much do you make a week/month

[Benjig]

Making a good profit of selling and buying bitcoins is difficult because the price swings, even if you put a large spread it wont be easy, anyway i think somebody could be making it.

[CAPTcoin]

It's very risky. But I've seen a lot of traders with a huge difference between buys and sells, and a lot of trades.

So with enough volume, it can be profitable.

[oXo]

Does anyone know how well their escrow system works?

I've always been afraid of not being able to see disagreements in public and how they play out, which is the reason I still sell bitcoin undervalued... Has anyone ever been through a dispute with them?

I think its safer to use a person for escrow instead of these random escrow sites. At least this way you can contact them directly to figure out the problem.

[DannyElfman]

Making a good profit of selling and buying bitcoins is difficult because the price swings, even if you put a large spread it wont be easy, anyway i think somebody could be making it.

You could potentially do it with leverage at an exchange. You would just need to be sure to watch your email to see when people accept your trades so you can execute a trade on your exchange account.

[GreenCoin22]

localbitcoin face similar transaction, but the site seems to be quite a high fee, the transaction did not go off.

[InwardContour]

Hi guys,

I was just wondering if anyone out there is actually making a living off by trading at localbitcoins? If so, how much do you make a week/month

I would doubt that you can actually make a living off localbitcoins. You could likely make "something" if you were to treat it somewhat like a 2nd job.

[Habeler876]

Personally, no, but I have traded with a couple people there who clearly provide liquidity and have 100+ feedback. They generally buy 3-7% below market and sell 3-7% above market. Seems like a good system for profit, but you could miss out on some big moves this way, not trading the swings on exchanges.

[DannyElfman]

Personally, no, but I have traded with a couple people there who clearly provide liquidity and have 100+ feedback. They generally buy 3-7% below market and sell 3-7% above market. Seems like a good system for profit, but you could miss out on some big moves this way, not trading the swings on exchanges.

Even if they made 7% on 100 trades with an average trade of $1,000 then they would only make $7,000 in profit

[bitbaby]

Does anyone know how well their escrow system works?

I've always been afraid of not being able to see disagreements in public and how they play out, which is the reason I still sell bitcoin undervalued... Has anyone ever been through a dispute with them?

I think its safer to use a person for escrow instead of these random escrow sites. At least this way you can contact them directly to figure out the problem.

I am on same boat as you, I can't get myself to trust them for some reason, I have read here and there about people who have had not so good experience trading there which is why so far I haven't done a single trade there.

[InwardContour]

Does anyone know how well their escrow system works?

I've always been afraid of not being able to see disagreements in public and how they play out, which is the reason I still sell bitcoin undervalued... Has anyone ever been through a dispute with them?

I think its safer to use a person for escrow instead of these random escrow sites. At least this way you can contact them directly to figure out the problem.

I am on same boat as you, I can't get myself to trust them for some reason, I have read here and there about people who have had not so good experience trading there which is why so far I haven't done a single trade there.

There are a lot of scams on localbitcoins however face to face meetups via local bitcoins is generally safer from scammers

[SunBin]

Personally, no, but I have traded with a couple people there who clearly provide liquidity and have 100+ feedback. They generally buy 3-7% below market and sell 3-7% above market. Seems like a good system for profit, but you could miss out on some big moves this way, not trading the swings on exchanges.

Even if they made 7% on 100 trades with an average trade of $1,000 then they would only make $7,000 in profit

$7,000 per day/week/month profit is a lot of money for many people here.

[Benjig]

Personally, no, but I have traded with a couple people there who clearly provide liquidity and have 100+ feedback. They generally buy 3-7% below market and sell 3-7% above market. Seems like a good system for profit, but you could miss out on some big moves this way, not trading the swings on exchanges.

Even if they made 7% on 100 trades with an average trade of $1,000 then they would only make $7,000 in profit

$7,000 per day/week/month profit is a lot of money for many people here.

But with the current price fluctuations i barely think someone would make that, i can buy today 10 btcs at -7%, but if the price drops 10% in two days, where will be the profit?

[InwardContour]

Personally, no, but I have traded with a couple people there who clearly provide liquidity and have 100+ feedback. They generally buy 3-7% below market and sell 3-7% above market. Seems like a good system for profit, but you could miss out on some big moves this way, not trading the swings on exchanges.

Even if they made 7% on 100 trades with an average trade of $1,000 then they would only make $7,000 in profit

$7,000 per day/week/month profit is a lot of money for many people here.

I would say that 100 trades on LBC would be a lot. It would mean that someone would need to make, on average 3 trades per day. Generally face to face trades take at least an hour as they will generally chat for a bit, depending on where the trade takes place, one could easily spend 30 to 45 minutes traveling to the meeting place. This could easily result in it taking 3 hours per trade and it would be unlikely that most traders would be able to have an efficient schedule where they could go directly to the next trade after each one is finished as they would need to work with other people's schedules.

[bronco]

i will try to put end to this topic
https://localbitcoins.com/buy-bitcoins-online/usd/moneypak/