LocalBitcoins is a Bitcoin start-up based in Helsinki, Finland. Its service facilitates over-the-counter trading of local currency for bitcoins.
The company claims to have more than a million registered users from 249 countries.
LocalBitcoins was founded in 2012 by Jeremias Kangas. The site allows users to post advertisements where they state the exchange rate and payment method they wish to use. Other users reply to these advertisements and agree to meet the person to buy bitcoins with cash, or trade directly with online banking.
NOTE: WARNING: Be aware that Local Bitcoin is not a regulated or licensed financial service provider and that it may not be legitimate. Always be cautious when exchanging funds with any online service and conduct your own due diligence to ensure the service is legitimate.
Once a trade is agreed upon, the buyer and seller connect through the LocalBitcoins site to finalize the deal. LocalBitcoins does not hold any bitcoins itself.
The company has been praised for its wide range of payment methods and its escrow service which helps to protect both buyers and sellers from scams. However, LocalBitcoins has also been used as a way to buy bitcoins with PayPal, which is against PayPal’s terms of service.
In addition, some users have complained about the high fees charged by LocalBitcoins.
Overall, LocalBitcoins is a legitimate way to buy and sell bitcoins. However, users should be aware of the risks involved in using the site, such as scams and high fees.
10 Related Question Answers Found
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Bitcoin is a digital or virtual currency that uses peer-to-peer technology to facilitate instant payments. Bitcoin Trader is an automated trading platform that claims to provide one of the quickest and easiest ways to earn profits from cryptocurrency trading. Bitcoin Trader allegedly has a success rate of 99.
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Yes, there is a local Bitcoin app. The app, called LocalBitcoins, allows people to buy and sell bitcoins locally. The app is available on both iOS and Android devices.
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Local Bitcoins is a popular service that allows people to buy and sell bitcoins between each other. The service is similar to a traditional exchange, but it allows for more flexibility and freedom when it comes to buying and selling bitcoins. Local Bitcoins has been around since 2012 and has built up a large user base.
