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Chapter 3 Frequently Asked Questions If you're still a bit confused, that's okay. Buying bitcoins is hard and that's why I built this site. The FAQ section below should answer all of your remaining questions.

How to get your first bitcoins with Local Trader

Buying bitcoins with cash can be very low risk. If making a trade in-person, it's best to meet 30 second options a public place to reduce the risk of scamming locals bitcoin address theft. If buying bitcoins with cash via cash deposit, use an escrow service like LocalBitcoins or BitQuick to ensure the seller must send you the bitcoins after receiving bitcoins.

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What are the benefits and advantages? It's easy to buy small amounts of bitcoin with cash. It's also private, since no personal information is locals bitcoin address in most cases, especially if trading in person or at an ATM with no verification.

Local Bitcoins Step-by-Step Guide Local Bitcoins Step-by-Step Guide Local Bitcoins is a reputable marketplace, much like ebay, where traders in your local area offer bitcoins for sale at various rates and transact with you directly. At Local Bitcoins you can buy with an online bank transfer, a cash deposit at a local bank or transfer agency such as Western Union, or by meeting the seller in person. Most bitcoin sellers will not accept paypal or credit card payment from a first time buyer.

Buying bitcoins with cash is also fast, as there is no verification to slow down the process. What are the disadvantages? It can be hard to buy large amounts of bitcoins with cash, especially with cash deposit. Bitcoin ATMs also have limits and some require verification if more than a certain amount is purchased.

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Pro Tip Do you want to buy larger amounts of bitcoins? Try buying with a bank account and you'll save on fees, too. Unlike other exchanges, which require ID verification and personal information, Local Bitcoins and Bitcoin ATMs don't require any information like this. Is it risky giving up my ID in order to buy?

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It depends how much you trust the exchanges. Just like any information you give up online, there is always the risk that it can be hacked or stolen from the website you give it to. One thing that Bitcoin exchanges have going for them is that because they are constantly under attack, they have some of the best security and protections in place to protect against the hacking of your personal info.

There is always risk with anything related to information online. Even Yahoo was hacked and information on 1 billion accounts was stolen. Should I leave my bitcoins on the exchange after I buy?

Local Trader is an application powered by the LocalBitcoins service. Local Trader allows you to trade bitcoin person-to-person in an easy, fast, and secure way. Use Local Trader to update advertisements, manage trades, send messages, release and fund trades, and handle payments.

We really recommend storing any bitcoins you want to keep safe in a wallet you own. Many Bitcoin exchanges have been hacked and lost customer funds. If you don't want to fall victim to these hacks then the easiest way is to store your coins in a wallet you control.

Can you sell bitcoins? Bitcoin Cash You can buy Bitcoin Cash using cash from most or all of the methods and dealers listed on this page. We will show you how to make your first purchase in the tutorial below.

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Don't have one? Read our guide. Go to BitQuick You will see the home page. Then, click "Quick Buy" Enter the amount you want to spend. You can enter in dollars or BTC, the fields will update automatically.

Introduction

You should now see a list of banks with prices: You can pick any bank, and banks with the lowest prices will show up first. Once you picked a bank you will be required to fill in some details. This includes your email, phone number, and Bitcoin address.

You can also change the amount of Bitcoin you want to receive. This will send locals bitcoin address PIN code to your phone that you need to confirm. This will lock in your order.

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  • Swipe to the right until you get to the My Sell Orders screen.
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Now you will need to find a bank branch of the bank you chose in your area. Then you go into the bank, make a deposit, and save the receipt. Go back into BitQuick and upload the receipt to the seller.

How to Sell Coins

This proves you made the deposit. Bitcoins should arrive to the address you entered earlier within 3 hours!

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You can do the following to check if there is a Bitcoin ATM near you: 1. Search by Location In the search box in the top left, type in the locals bitcoin address of your country or city and click enter.

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That means there are Bitcoin ATMs in your area. You should now see a screen with some options.

Local Trader How To

If you want to find a store near you to buy then click "Find Store". Now you'll see a zoomed out map. Put in your location or allow the app to see your current location. You should then see a zoomed in map with pins displayed the many locations you can buy from: Now tap on a pin and then tap "SELECT THIS LOCATION": You will get more information on the location, like the store's hours, fees, phone number, and instructions for buying the coins: In the locals bitcoin address step you will need to login with Facebook or make an account: Once you login you will also need to link your phone number.

Once you confirm your phone number you can get your LibertyX code that you show the store! At the store you present the code to the cashier and pay for the amount of coins you want. The cashier will then print out another code that you enter into the LibertyX app. Once you enter the code from how to make money quickly and realistically cashier you receive bitcoins!

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If you live in a city, you're in luck: There may be a number of sellers in your area. Make sure you meet in a public space.

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Going with a friend is best, too. There have been reports of scams and robberies, so just make sure you take precautions when buying. If you meet, meet in a public space and go with another person.

Where and How to find your Bitcoin Wallet Address in LocalBitcoins

This section aims to provide more clarity on how a trade might work using one of these exchanges. The seller confirms payment.

Fast, no middlemen

Usually, the buyer sends the seller a receipt to prove that cash was deposited into the seller's account. The site LocalBitcoins or Wall of Coins releases the bitcoins to the buyer. The seller got cash, and the buyer got bitcoins. The trade is complete! The above was just an example! Through sites like LocalBitcoins you are free to agree on other payment methods besides cash deposit.

For example: You could arrange to meet in person and exchange cash for Bitcoin. No verification is required. Cash payments are irreversible.