Topic: Does anyone sell on localbitcoins? (Read 841 times)
LBC is very good for when u want to buy BTC fast and with no stress, u meet in person and so on.
I have never used it, but the way you described it, man, don't think I will ever but off it. 90 dollars extra is easy to much to be paying.
It all depends on how you buy it and market conditions.
I'm in the UK. At present buying via bank transfer 1 coin costs around $14 more than buying on an exchange. The UK's rather different to a lot of places because there are no exchanges with UK banking so we have to send money abroad if we want to use an exchange. That can take 3-5 days and often costs $10-30 in fees. So buying modest amounts is a whole load faster and not much more expensive.
I have never used it, but the way you described it, man, don't think I will ever but off it. 90 dollars extra is easy to much to be paying.
Well I'm happy for you, that's great that there is big development over there happening with Bitcoin. I wasn't necessarily saying that tendencies in U.S. cities here are how every place works, I'm not some ignorant American gun totin' overweight hillbilly "'Merrica is freedom'" dick head a lot of people in the E.U., and rest of the world for that matter, likes to portray us... But in theory, you have to get that what has been going on, at least where I live, technically makes sense. Even you said where you lived has some big developments with Bitcoin in your area, while I live in the US who is technically a major player in the Bitcoin world, I'm in an area of the U.S. where there is no knowledge or developments being made that I know of within a 4-5 hour drive radius.
Yes, of course. And I was merely implicating that there really is many places in the world where just 'going to BTC ATM' is not an option. Like said, here in Malta we have 0 bitcoin ATM's. Does that mean no one in Malta is interested in bitcoins? No, it doesn't. So for Maltese guy who would like to get his first bitcoins after hearing about them options are;
1. Buy from LocalBitcoins with cash from fellow Maltese guy. Price depends on seller, usually bit more than market but you can get it the same day.
2. Verify yourself on European exchange (send ID, proof of address), make regular SEPA transfer after your account is verified (and wait 1-2 days for it to arrive), buy bitcoins and withdraw them to your wallet. Here the price is the market price but whole process will take at least week if it's your first time and there is multiple parts which might not be so easy for someone just getting into it.
This was my whole point in all it's simplicity. Even though you yourself would not need LocalBitcoins at all or wouldn't understand why someone pays extra for it, I do understand it perfectly. It is the convenience, speed and easiness compared to buying from exchange the first time.
But where the problems lies, is that people who don't have bitcoin ATM's around them in their city, or state for that matter, don't have many people around them that are trying to sell bitcoins on there... many people in cities like those have no clue about bitcoin.
Bitcoin ATM's are the best choice for buying coins in cash to have anonymity IMO.
Bitcoin ATM's are the best choice for buying coins in cash to have anonymity IMO.
Sorry but I laughed a bit out loud. Let me guess, you are American? It's always the same with you guys. You think US mirrors the whole world and it works exactly the same everywhere.
There are plenty of cities and even countries in Europe without bitcoin ATMs and that certainly doesn't mean there is no interest. I am Finnish and we have like 12 ATM's in the whole country. Half of those are in the countries capital, Helsinki. Not a single one reaches over one thirds of Finland when going up north. So if you would happen to live in the last third of Finland you would be looking over 5 hour drive to get to the ATM.
And yes, even countries. Although I am Finnish I live in other European country right now called Malta. There is not a single bitcoin ATM in whole Malta. I am probably already enough proof that there is still interest even though we don't have ATMs here? Just google bitcoin Malta and you will see there is many mentions even in the biggest local media.
Well I'm happy for you, that's great that there is big development over there happening with Bitcoin. I wasn't necessarily saying that tendencies in U.S. cities here are how every place works, I'm not some ignorant American gun totin' overweight hillbilly "'Merrica is freedom'" dick head a lot of people in the E.U., and rest of the world for that matter, likes to portray us... But in theory, you have to get that what has been going on, at least where I live, technically makes sense. Even you said where you lived has some big developments with Bitcoin in your area, while I live in the US who is technically a major player in the Bitcoin world, I'm in an area of the U.S. where there is no knowledge or developments being made that I know of within a 4-5 hour drive radius.
But where the problems lies, is that people who don't have bitcoin ATM's around them in their city, or state for that matter, don't have many people around them that are trying to sell bitcoins on there... many people in cities like those have no clue about bitcoin.
Bitcoin ATM's are the best choice for buying coins in cash to have anonymity IMO.
Bitcoin ATM's are the best choice for buying coins in cash to have anonymity IMO.
Sorry but I laughed a bit out loud. Let me guess, you are American? It's always the same with you guys. You think US mirrors the whole world and it works exactly the same everywhere.
There are plenty of cities and even countries in Europe without bitcoin ATMs and that certainly doesn't mean there is no interest. I am Finnish and we have like 12 ATM's in the whole country. Half of those are in the countries capital, Helsinki. Not a single one reaches over one thirds of Finland when going up north. So if you would happen to live in the last third of Finland you would be looking over 5 hour drive to get to the ATM.
And yes, even countries. Although I am Finnish I live in other European country right now called Malta. There is not a single bitcoin ATM in whole Malta. I am probably already enough proof that there is still interest even though we don't have ATMs here? Just google bitcoin Malta and you will see there is many mentions even in the biggest local media.
Although some of what bitbaby said I fully agree I think there is more. It is not about paying bit extra - it is the convenience and the anonymity.
...
So the main reason people use LocalBitcoins is the convenience and anonymity. Yes, it is often bit more expensive what it would be from exchange - but you do not need to send money anywhere necessarily (and wait it to arrive), proof your identity anywhere and you can have your coins with cash today. That is what you pay the extra for.
...
So the main reason people use LocalBitcoins is the convenience and anonymity. Yes, it is often bit more expensive what it would be from exchange - but you do not need to send money anywhere necessarily (and wait it to arrive), proof your identity anywhere and you can have your coins with cash today. That is what you pay the extra for.
Well unless you have a bitcoin ATM around you were you can buy bitcoin for cash like you would at localbtc, you have a point. But where the problems lies, is that people who don't have bitcoin ATM's around them in their city, or state for that matter, don't have many people around them that are trying to sell bitcoins on there... many people in cities like those have no clue about bitcoin. So I would imagine places like those (and I currently live in a place like that) where you would see high premiums on coins for the "anonymity" part.
To me it's still sketchy dealing with other people like that and probably ending up meeting with them face to face... there's a lot of bad people in the crypto world, and even though they might say they have a good rating doesn't necessarily mean they won't end up trying to rob you.
Bitcoin ATM's are the best choice for buying coins in cash to have anonymity IMO.
I've used lbc quite a bit in the past. Premiums tend to shoot upwards when the price is on the up. When it's flat or falling it can occasionally line up with the exchanges for bank transfers. Cash and other more way out methods will always cost more.
Although some of what bitbaby said I fully agree I think there is more. It is not about paying bit extra - it is the convenience and the anonymity.
Bitcoin exchanges like Bitstamp require you to send your passport to them and proof your address. Many people are not comfortable doing that with exchange they just heard about. The verification process alone can take couple of days.
Finally even when your account is verified, transferring money to the exchange takes time. Time is valuable and it could mean big change in the price too. If I would make bank transfer to Bitstamp right now it would most likely land my account Wednesday afternoon.
So the main reason people use LocalBitcoins is the convenience and anonymity. Yes, it is often bit more expensive what it would be from exchange - but you do not need to send money anywhere necessarily (and wait it to arrive), proof your identity anywhere and you can have your coins with cash today. That is what you pay the extra for.
Bitcoin exchanges like Bitstamp require you to send your passport to them and proof your address. Many people are not comfortable doing that with exchange they just heard about. The verification process alone can take couple of days.
Finally even when your account is verified, transferring money to the exchange takes time. Time is valuable and it could mean big change in the price too. If I would make bank transfer to Bitstamp right now it would most likely land my account Wednesday afternoon.
So the main reason people use LocalBitcoins is the convenience and anonymity. Yes, it is often bit more expensive what it would be from exchange - but you do not need to send money anywhere necessarily (and wait it to arrive), proof your identity anywhere and you can have your coins with cash today. That is what you pay the extra for.
LocalBitcoins is a free market, it only acts a mediator for all the trades and handles if there are any disputes and because of that they cannot control the price, anyone is free to sell at any price they wish to sell their coins but usually traders who ask for extra price don't get any trades because any one can check the current Bitcoin price at Preev.com or similar.
Also, some traders who sell for extra price do that because they're offering trades for payment instruments which are considered risky, such as Paypal and this is why they ask for more than the usual price but I assume most people would avoid these sellers who ask way more than the original market price.
Also, some traders who sell for extra price do that because they're offering trades for payment instruments which are considered risky, such as Paypal and this is why they ask for more than the usual price but I assume most people would avoid these sellers who ask way more than the original market price.
I see people selling locally for about $90 over current market price. Is that normal? Is buying at an exchange and selling them to people locally something people here do? It looks like it can be nice and profitable.
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