Crypto Enthusiasts Resources, Ep. 22: LocalBitcoin, Buy Bitcoin In Person, From Real People, Without An Exchange
This is the twenty-second day of my 30 days challenge dedicated to crypto resources. Each day I will post a relevant resource (used by me, or recommended) and at the end of each post you'll see a list of all the previous articles.
Maybe the first word that comes to mind when you're looking to buy or sell Bitcoin is: "exchange". It is obviously correct, but unfortunately, it's incomplete.
There are many other ways to get Bitcoin, and lately one of these, namely the so-called "over the counter" (OTC) platforms, is getting a lot of traction. Some rumors are even pointing to China allowing OTC exchanges to function on Hong Kong, while still banning online exchanges on mainland.
TodayI'm presenting you one of the oldest and most respected OTC platforms known on the market: LocalBitcoins.com. As you can see from the screenshot above, it's a place where regular people are posting buy and sell offers, much like in a CraigsList for Bitcoin.
The transaction is done in person, no middle-man involved.
As always, when you're using p2p (person 2 person) platforms, you should get your due diligences:
- does the person really exists?
- does it have a back log of (successful) transactions?
- does he have reviews from other customers?
- is he/she a tax agent in disguise? (well, maybe not using these exact words, but you get my point).
Previous Resources
- Crypto Enthusiasts Resources, Ep. 21: Token Data, How Much Is Any ICO Worth?
- Crypto Enthusiasts Resources, Ep. 20: Steem Powered Websites
- Crypto Enthusiasts Resources, Ep. 19: earn.com - Earn Bitcoin By Reading Email (And Not Only By That)
- Crypto Enthusiasts Resources, Ep. 18: 99Bitcoins.com - Crypto Translated In Plain English
- Crypto Enthusiasts Resources, Ep. 17: Make Your Own Portfolio Tracker With Google Sheets (Template Included)
- Crypto Enthusiasts Resources, Ep. 16: The Age of Cryptocurrency (Yes, An Actual Book!)
- Crypto Enthusiasts Resources, Ep. 15: WhatToMine.com - Mining Calculator
- Crypto Enthusiasts Resources, Ep. 14: Utopian.io - Get Rewarded For Open Source Contributions
- Crypto Enthusiasts Resources, Ep. 13: CryptoGrind.com - Freelance For Bitcoin
- Crypto Enthusiasts Resources, Ep. 12: Andreas Antonopoulos YouTube Channel
- Crypto Enthusiasts Resources, Ep. 11: CoinsCalendar.com
- Crypto Enthusiasts Resources, Ep. 10: BlockchainDemo.io
- Crypto Enthusiasts Resources, Ep. 9: Prepaid Bitcoin Visa Cards: Bitwala
- Crypto Enthusiasts Resources, Ep. 8: BlockchainDevJobs.com
- Crypto Enthusiasts Resources, Ep. 7: Jaxx Wallet
- Crypto Enthusiasts Resources, Ep. 6: /r/Jobs4Bitcoins
- Crypto Enthusiasts Resources, Ep. 5: Icotracker.Net
- Crypto Enthusiasts Resources, Ep. 4: Coinbuzz.Stream
- Crypto Enthusiasts Resources, Ep. 3: Bitcoin Magazine
- Crypto Enthusiasts Resources, Ep. 2: BitcoinTalk Forum
- Crypto Enthusiasts Resources, Ep. 1: Altcoins Ups And Downs
I'm a serial entrepreneur, blogger and ultrarunner. You can find me mainly on my blog at Dragos Roua where I write about productivity, business, relationships and running. Here on Steemit you may stay updated by following me @dragosroua.
https://steemit.com/~witnesses
If you're new to Steemit, you may find these articles relevant (that's also part of my witness activity to support new members of the platform):
I used this site for my transaction and I am very satisfied with it. Easy and fast.
Thanks :)
LocalBitcoins is a great site, mainly because of how they're present in so many countries. The whole process is also quite smooth. I've used it very few times to buy and sell btc, but I can still vouch for it.
Thanks :)
@dragosroua Keep on bringing the good TIPs! on how to trade your Cryptos with others.
This is a Seller in Panama: https://ptycoin.com Good Prices. Charges only 7.5% Fee, whereas ATM BTC in AlBrook Mall charges 15%
great information. ..
got t9 go to buy 😉😉
https://steemit.com/steem/@chrisaiki/steem-to-euro-usd-or-other-fiat-or-reverse-at-a-better-rate-between-steemians
OTC Platform could be a huge risk in Countries where Government hunts people using cryptocurrency since theirAgents could posed as Buyers in order to find out who is in the game and how much do they transact. It is a very huge risk. In such cases is better to develop your own Network of Suppliers.
Other better way is using Steemit.com as source: I mean finding real people in your local country willing to sell their STEEM and change it in Bittrex.com or similars exchanges.
Other way of getting Bitcoin is using Local ATM BTC in countries where is legal or Small Boutiques selling the coins. But that would require to have a friend in that Market to make the purchase for you.
Different countries has different advantages should be discussed desperately
never tried it but the reviews looks awesome can try i once for an option :)