The advertiser gives payment details in the advertisement tutorial. See more above in the section Setting up an advertisement. Set the times localbitcoins to your own local time, but excellence make sure that you have your own time localbitcoins set in your for settings. You can ask in our forums about these payment methods before you start trading. If you tutorial a new account with no previous trading history, we recommend you start by replying to existing advertisements in order to excellence and for some Bitcoins.
It's a convenient feature to use as the buyer can enter the reference as part of the message when purchasing, allowing you to quickly match payments to trades. Transfer with specific bank can be a good starting payment method, especially if there are few traders active in your country. Even if it's a regular buyer and someone you know, as once the Bitcoins have been released from escrow, there is no way for you to get them back. Set the times acording to your own local time, but first make sure that you have your own time zone set in your user settings. Why should I sell Bitcoins locally? Sign up if you haven't done already Post a trade advertisement Load Bitcoins to your wallet, if you are selling.
New buyer limit This excellence a specific maximum transaction limit for new users. Margin or Price equation The easy way to price your advertisement is to enter a margin you want above the Bitcoin market price. If you enter 20,30,60 into the localbitcoins a potential trade partner could tutorial open a trade for 20, 30 or for EUR. Please consider the risks carefully, and use the feedback system and other measures to ensure your safety. If you have forgotten your username, try logging in with your email.
Using the extra options allows you to tune your advertisement to suite your trading strategy. You can find all of the advertisements that you have created from your dashboard , you can also find it from the dashboard link in the menu bar from the icon that looks like a speedometer.
In your dashboard you can also see all of your trades, both open and closed. Location Enter the country where you want your advertisement to appear.
Payment method Select the payment method you want to offer from the dropdown menu. See more in the section about payment methods. Currency Choose which currency you're selling for. For instance, if you're selling in France you should select EUR.
You can use this list to find what your currency acronym is. Margin or Price equation The easy way to price your advertisement is to enter a margin you want above the Bitcoin market price. To do that, enter a percentage in the margin field. If you want more control over your price, you can use the price equation field. This will allow you to create an advanced pricing algorithm taking into account many variables. See more in our pricing guide. If you set it to five, and you have your currency set to EUR it means that smallest trade someone can open with you will be for 5 EUR.
The maximum transaction limit sets what the biggest trade that you want to accept is. Note that if you put in a larger maximum than what you have Bitcoins for in your wallet, the actual maximum will be your wallet balance. Terms of Trade This is the text the buyer sees before he opens up a trade with you. It's a good idea to write instructions for the buyer on how you want the trade to proceed and if you have any specific instructions. If you require, for example, the buyer to submit a receipt as proof of payment before you release the Bitcoins or if you need the buyer to provide an ID, this is the place to mention it.
You can take a look at other traders advertisements for the payment method you want to use to get an idea of what good terms of trade contain. Restrict amounts to You can restrict the advertisement to only being able to open trades for specific amounts. If you enter 20,30,60 into the box a potential trade partner could only open a trade for 20, 30 or 60 EUR. Opening hours No-one likes it when someone doesn't reply. By setting your opening hours you can limit the time when your advertisements are shown to exactly those times when you are ready to trade.
Set the times acording to your own local time, but first make sure that you have your own time zone set in your user settings. Payment details Enter here specific information relating to how the buyer should pay, this can be your bank account number or e-mail address For e. Minimum volume You can set a minium required Bitcoin trading volume before a user can open up a trade request for your advertisement. If you set this to 0. Minimum feedback Similar to Minimum volume, the feedback minimum allows you to set a minimum required feedback percentage required to have in order to open a trade using your advertisement.
New buyer limit This is a specific maximum transaction limit for new users. If a new buyer with no previous trading history wants to contact you, this is the largest amount they can open a trade for. Transaction coefficient This option works in combination with new buyer limit.
If you set the previous option to 0. For the first trade it will be your new buyer limit, for the following trade it will be 1.
Display reference This shows an automatically generated reference code for the trade. It's a convenient feature to use as the buyer can enter the reference as part of the message when purchasing, allowing you to quickly match payments to trades. Reference type Let's you select what kind of reference to display.
Payment window How long of a time the buyer has to make payment before the trade is automatically cancelled. Track liquidity In case you are offering Bitcoins for sale using a payment method that only allows you to accept a certain amount a day you can use this feature to limit yourself to that. Enabling tracking liquidity lowers the maximum limit of the advertisement each time someone makes a purchase. Identified only By marking this checkbox you limit the advertisement so that only users who have verified their ID with LocalBitcoins are able to open a trade.
Real name required By marketing this checkbox you limit the advertisement so that only users who have entered a real name on their account are able to open a trade. This is only availalbe for Online Sell advertisements. SMS required By marking this checkbox you limit the advertisement so only users who have verified a phone number with us can open a trade. Trusted only Marking an ad for trusted users only allows you to create special advertisements for users whom you have trusted.
See more in our FAQ. Below is the list of currently supported payment methods on LocalBitcoins. If you are thnking about selling bitcoins with a certain payment method, check its risk level and read the topic on risk mitigation below.
If you want to see a new payment method added or have questions about the risk of a payment method, please contact LocalBitcoins support. It's a good idea to research a payment method before you start trading with it. Familiarise yourself with the terms of service and search online for other trader's experience with the payment method.
These risk levels apply only when you are selling bitcoins online as the risk comes from accepting payments that can later be charged back. When you are buying Bitcoins you are completely protected by escrow as long as you have proof of payment. It's important to having good digital security, but it's especially important when you're trading Bitcoins. When you have advertisements up selling Bitcoin you also tell the world that you have Bitcoins, which can make you an attractive target to cyber criminals if you don't have your security in check.
Most common attacks are done using spear phishing techniques. That's where the attackers will first attempt to get access to other services that you use, mainly your e-mail or cell phone account. From there they will try to get access to your financial services.
This is why it's very important to keep all of your online accounts secure , not just your LocalBitcoins account. By following these steps you can be sure that your account is protected from most security threats.
Enable Login Guard from the security settings of your account to prevent logins to your account without an e-mail confirmation. This is not enabled by default for older accounts, please make sure it is turned on.
Enable Two-Factor authentication on your LocalBitcoins account, this adds a second layer of security in case your password falls into the wrong hands. Make sure you do not store the backup code electronically, write them down and store the code safely.
Enable it from your security settings. Use a different e-mail address for your LocalBitcoins account that is not used for anything else. Don't give this address out to your customers, use a separate e-mail account for customer correspondence.
Gmail accounts are good as you can protect them with two-factor authentication. From the account security settings you can view your account Login history and authorized browsers.
It's a good habit to check these from time to time. Be wary of any images, links and other files that customers or unknown people send you, it can be an attempt to infect your computer with malware or worse.
Run periodic malware and anti-virus checks on your computer. Don't use the same password on more than one site, instead use unique and randomly generated passwords.
A password manager, like KeePass, allows you to do this without having to remember all your passwords. Using the same password on more than one site very dangerous , it can allow an attacker to get access to many of your accounts by knowing only one password.
Enable Two-Factor authentication on services that support it , Google, Facebook, Dropbox all support it. Educate yourself on cyber security. Having knowledge is probably the best defence, read up on common attack techniques such as spear phishing to know how to identify potential attacks.
If you are selling Bitcoins for a payment method that is reversible you should verify that it is the buyer who is making the payment with his own account. When you receive a new trade, take a look at the buyer's LocalBitcoins profile to gauge the reputation of the buyer. Go through the buyer's previous feedback and his trading history.
On the page for the trade itself you will see a box showing security information of your buyer. Always view this information to get a picture of who your trading partner is, check whether the real name of his account matches the name attached to his payment.
Check that the users IP address is from the same country as the payment is coming from. Below is an example of what the security information box looks like. Some people appreciate the privacy that cash trades offer. Buying a small amount of bitcoins with cash is also a great way get started with bitcoins without too much hassle. With LocalBitcoins, it is really easy to create profitable and competitive pricing strategy.
When creating an advertisement you are able to set a dynamic price that automatically updates itself against a reference market. You can see our Pricing Equation guide for more information on how the dynamic equation works.
If you run out of Bitcoins you can purchase more quickly from a traditional Bitcoin exchange, though that usually takes a few days as you will need to purchase using a bank transfer. You can also find other trades through other OTC marketplaces such as Mycellium localtrader.
Make sure you are easily reachable! In your advertisement, specify your favourite place and time to meet. You can include your cell phone number in the advertisement. All traditional risks that govern money exchanging also relate to bitcoin trading.
Please consider the risks carefully, and use the feedback system and other measures to ensure your safety. There have been cases, where counterfeit money is passed to the Bitcoin seller. Please consider using a counterfeit detector when you do the trades.
Before you start trading as a business, research your countries legislation to see if you are required to apply for any licenses or if there are any other legal requirements.
Why trade on LocalBitcoins? LocalBitcoins is the leading P2P Bitcoin trading platform with over 1 registered users from countries. On wearebeachhouse.com you can trade Bitcoins for traditional currencies through person-to-person trades. This is also known as over-the-counter (OTC) trading. People prefer to buy. Guide for trading Bitcoins locally. LocalBitcoins offer two main types of advertisements, online and local advertisements. Through local advertisements you meet up physically with your trading partner and conduct the trade face to face. This guide covers the basics on how to set up local advertisements and how to trade. How to Buy and Sell bitcoins on wearebeachhouse.com In this tutorial, I'll be showing you how to Register with Localbitcoins, verify your user account, and Buy/Sell authority and professionalism in the bitcoin exchange market in Nigeria, there are only a few websites that have passed all the criteria for excellence - In this article .