LocalBitcoins is a person-to-person bitcoin trading site.
At LocalBitcoins.com, people from different countries can exchange their local currency to bitcoins. The site allows users to post advertisements where they state exchange rate and payment methods for buying or selling bitcoins. You reply to these advertisements and agree to meet the person to buy bitcoins with cash, or trade directly with online banking. Bitcoins are placed in LocalBitcoins.com web wallet from where you can pay your bitcoin purchases directly.
How they are different
LocalBitcoins.com is de-centralized, embracing the nature of bitcoin.
On LocalBitcoins you are dealing with humans. Unlike centralized, stock-exchange-like, bitcoin trading sites, you make a trade directly with another person. This makes the process lean and fast, as there is no corporate overhead. You get your bitcoins instantly. Also, LocalBitcoins can support every payment method its user community supports. For every transaction, LocalBitcoins offers escrow or transaction service to protect the buyer of bitcoins.
Trade process duration from the creation of the user account to having bitcoins in your wallet is a few minutes.
LocalBitcoins payment method supports wide range of world payment methods. (See below)
Mission
Connecting everybody to Internet economy.
In LocalBitcoins, the focus is on the users and the community. We are ever expanding and want to bring bitcoin exchange and economy to every city in the world. We believe bitcoin to be a black swan event, something that fundamentally changes how financial world works. This will be an enabler for more prosperity, especially in developing countries.
Bitcoin enables online transaction in locations out of the reach of the traditional banking industry.
Saving your prosperity in bitcoins is safe from political risks.
Address: https://localbitcoins.com/?ch=1zwt
Created: 2012
Commision: 1%
Subreddit: /r/localbitcoins/
Reddit Accounts: /u/Max_LocalBitcoins
Buying/Selling Methods by Provider, Description and Risk level
OKPay OKPAY allows you to accept bank wire and cash money transfers and all e-currencies quickly and affordably. Currently OKPay advertises as irreversible payment. Low
WebMoney Secure and immediate transactions online. Low
Western Union Send and receive money internationally. The receiver can redeem the transfer as cash. Low
Moneygram Send and receive money internationally. The receiver can redeem the transfer as cash. Low
Postal order Sending money through the mail in UK and US. Low
Perfect Money Instant payments and confidential money transfers online. Low
EgoPay Money transfer service. Low
Walmart 2 Walmart Send and receive money between two Walmarts. The receiver can redeem the transfer as cash. Low
Telegramatic Order Payment method in Croatia Low
National bank transfer Wire transfer within a specific country Medium
SEPA (EU) bank transfer Single Euro Payments Area (SEPA) wire transfers. Usually recallable up to 10 days. Medium
Transfers with specific bank Transfers within a bank are usually instant. Medium
International Wire (SWIFT) International wire transfer with SWIFT code Medium
Cash deposit Go to a bank / ATM and deposit cash directly to the bank account Medium
Pingit Barclays mobile payments in UK. Medium
Paym Pay your friends and family using just their mobile number (UK). Medium
PYC Pay your contacts - mobile payments by Natwest / Royal Bank of Scotland (UK) Medium
PostePay Italian online payments. Medium
Ukash Redeemable coupons which you can spend to charge your online account. Medium
hyperWALLET hyperWALLET is online payment solution which offers instant bank transfer funding in Canada. Medium
Xoom Xoom Corporation is a digital money transfer company based in San Francisco. It provides consumer remittance services to Europe, Canada, Australia, Latin America, the Philippines and India. Medium
Cash by mail Send cash to the receiver in the postal service. Very anonymous. High
Interac e-transfer Canadian online transfers High
Chase Quickpay Person-to-person payments. High
Paypal Transfer money to anybody with an email address. Payments are easy to reverse. The terms of service do not protect the seller of the bitcoins. High
Moneybookers / Skrill The simple and secure way to send and receive money. High
Neteller Instant deposits, withdrawals and payouts online. High
Venmo Send money to friends using a mobile app in US. Can be charged with credit cards. The terms of service do not protect the seller of the bitcoins. High
Dwolla Send money online. Payments are easy to reverse. The terms of service do not protect the seller of the bitcoins. High
PaySafeCard Pay online securely without bank account or credit card in Europe. Fund your account with redeemable coupons. High
Vanilla Redeemable coupons and debit cards. High
Google Wallet Online payment method to transfer funds between two Google Wallet users. High
Reloadit Redeemable coupons and debit cards. High
PayPal My Cash Coupons which can be used to load your PayPal account. High
NetSpend Reload Pack Redeemable coupon for NetSpend card High
SolidTrustPay International instant payment processor. Multiple funding options. High
Serve2Serve Reloadable debit cards. High
Square Cash Send money to friends using a mobile app in US. Can be charged with debit cards. High
MoneyPak Redeemable coupons and debit cards. High
Other online payment The advertiser gives payment details in the advertisement message Unknown
Hal-cash Hal-Cash is a bank service that allows you to send money to any mobile phone, and be withdrawn instantly at an ATM of any of the financial institutions associated with the worldwide system, anytime and anywhere without needing a credit card. Unknown
Swish Mobile payment solution. Unknown
MobilePay FI Easy way to send money with phone numbers, works with all finnish banks. Unknown
QIWI Mobile payment solution. Unknown
IMPS Bank Transfer India IMPS Bank Transfer India Unknown
Alipay Chinese online payment method. Unknown
Superflash Italian debit card with IBAN number. Unknown
Cashier's check US check signed by a cashier. Unknown
CashU Pay online securely without bank account or credit card and fund your account using variety of methods. Unknown
Payza Send and receive money online. Fund your account with wire transfer or credit card. Unknown
AstroPay AstroPay Card is the easy and safe way to make payments online in LATAM. Unknown
M-PESA Kenya (Safaricom) Send and receive money with mobile in Africa. Unknown
M-PESA Tanzania (Vodacom) Send and receive money with mobile in Africa. Unknown
BPAY Bill Payment Australian bill paying protocol. Unknown
Gift Card Code A gift card code. Unknown
Gift Card Code (Global) A gift card code. Unknown
Other Online Wallet National online wallets not already on the list. The advertiser gives payment details in the advertisement message Unknown
Other Online Wallet (Global) International online wallets not already on the list. The advertiser gives payment details in the advertisement message Unknown
Other Remittance Remittance vendors not already on the list. The advertiser gives payment details in the advertisement message Unknown
Other Pre-Paid Debit Card National pre-paid debit cards not already on the list. The advertiser gives payment details in the advertisement message Unknown
Transferwise Transfer money online internationally Unknown
Amazon Gift Card Code A gift card code. Unknown
Starbucks Gift Card Code A gift card code. Unknown
Walmart Gift Card Code A gift card code. Unknown
Apple Store Gift Card Code A gift card code. Unknown
MobilePay Easy way to send money with phone numbers, works with all danish banks. Unknown
Steam Gift Card Code A gift card code. Unknown
MobilePay NO Easy way to send money with phone numbers, works with all Norwegian banks. Unknown
Tigo-Pesa Tanzania Send and receive money with mobile in Africa. Unknown
Yandex Money Mobile payment solution. Unknown
Risk level explanation
Below are the different payment provider risk levels explained.
Please note that these risk levels apply to you only when you are selling bitcoins online. Buying bitcoins is protected by escrow process.
Risk level Typical payment provider features Mitigation
Low Payment method is irreversible or almost irreversible. The identity of the paying person may be confirmed at the sending end. It is quite safe to use this payment method: LocalBitcoins.com team is aware of little or no issues with it.
Medium The payment is reversible. The payment sender may operate on hijacked online banking account.
Set first time buyer limits.
Require reputation and account history.
Check the buyer id in the case you are suspecting a stolen online banking account.
High It is very easy for the purchasing person to reverse the payment and do fraudulent buys. The payment recall window is several days. The payment provider terms of service do not protect the virtual currency seller. The payment provider may lock your account without refund.
Set very low first time buyer limits.
Require high user reputation and long account history.
Use trusted listings.
Check the buyer id.
Unknown LocalBitcoins.com team has not researched this payment method extensively and has little or no history with it. Consult the regional discussion forums to ask for further information.