LocalBitcoins is the global exchange site that allows Bitcoin investors to buy and sell the world’s leading cryptocurrency in a peer-to-peer manner, be it locally or online.
You can choose the payment method you want (credit or debit card, bank transfer, PayPal…).
Create an account on LocalBitcoins
The process of registering is very easy and straightforward.
The first thing you have to do is to go to LocalBitcoins.com.
Then, click on “Sign up for free.”
After that fill out the registration form and register.
After filling up the registration form, you will get a confirmation e-mail to your e-mail address.
Once you confirm your e-mail address, you will have to do SMS verification.
Search for advertisements on LocalBitcoins
Go to the main page and in the search box fill in the form with the amount you want to buy in your currency, your location and payment method.
Once you click on “Search”, you will get a list of advertisements in your region.
From the list of advertisements, choose one from a trader with a good reputation score and a high amount of trades.
The response time indicator shows if a trader replies within five minutes (green), within 30 minutes (yellow) or slower than 30 minutes (grey).
You can click the “Buy” button to view more information about an advertisement.
After you press the “Buy” button, you will see more information about the advertisement, including the terms of the trade.
Read through them before submitting the trade request.
If you don’t agree with them, you can go back to the previous page and choose another advertisement.
To start the trade, type in the blue box how much you want to buy, enter a message for the seller and click the Send trade request button to the start the trade.
Be sure you’re ready to pay when clicking the button, if you don’t pay before the payment window is over, the trade will be automatically canceled.
Once you have made the payment, click the I have paid button.
Once the trader has verified that your payment has been received your Bitcoin will be released from escrow and they are instantly available in your LocalBitcoins wallet.
And that’s all there is to it, congratulations on your first Bitcoin trade!
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Milos is an independent trader, with a background in journalism and publishing. Nomadic by nature, he’s lived in four different countries this decade. He’s fascinated by Blockchain technologies’ potential to reshape all aspects of our lives. Milos got into Bitcoin while completing his degree and hasn’t looked back since, writing about anything crypto-related. He is the co-founder of the Cryptoaims and he has a strong passion to educate people about this revolutionary technology.