- What is LocalBitcoins? How it Works?
LocalBitcoins is Person to Person buy and sell bitcoins platform. You can buy or sell bitcoins with over 150+ payment method. LocalBitcoins was founded in Finland and it has become a top person to person crypto to fiat exchange platform. Now the LocalBitcoins made KYC mandatory to crypto sellers to avoid scam. you don’t need kyc for buying bitcoin.
How to Buy and Sell Bitcoins from LocalBitcoins?
|LocalBitcoins Sign up|
|LocalBitcoins Create Account|
Here I want to buy bitcoin with PayPal so I will look for seller with good reputation and who is online at the moment and Click on Buy.
Step 4: After selecting a seller this window will appear so put the amount you want to buy read what are requirements given by seller and finally click on accept terms and send trade request.
Step 5: first send “hi” message then he will give his PayPal address and then send amount on his PayPal address and click on I have paid button and after that send him a message that “I have paid”, (Always remember never include bitcoin word in PayPal remarks or any other method or PayPal will suspend your account and also government will know you are trading Bitcoin) After that he will release bitcoin in your LocalBitcoins wallet, That’s it you have now purchased Bitcoin, now you can use this wallet further for selling your crypto earnings.
So what should you do after buying bitcoins? Well you can transfer the bitcoin you bought to the bitcoin exchange by going into your account section of localbitcoins and open in new tab the account of bitcoin exchange you want to deposit.
Select deposit bitcoin on that exchange, copy the deposit address and then go to withdrawal section of localbitcoin and paste the deposit address from bitcoin exchange and type the password for withdrawal and confirm withdraw. That’s all just wait for 30 minutes for 3 nework confirmations.
After 3 Network confirmations you will receive notification of successfully deposited bitcoin in your bitcoin wallet. there you can start trading bitcoin with other cryptocurrencies.
If you want to know top 3 Bitcoin Exchanges, Here is a list so you can easily create an account in these exchange.
Here You Can Now Invest The Bitcoin in Bitcoin Exchanges to Make Profit You Can Refer These Articles:
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