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Questions tagged [localbitcoins]

refers to localbitcoins.com

16 questions
10
votes
1 answer

Legal issues / banking issues selling Bitcoins to people OTC?

I'm wondering what the practical / legal limits are on selling Bitcoin as an individual using Craigslist and LocalBitcoins. Will I run into legal issues / frozen bank accounts as I scale this? Right now I'm doing about $1K of selling per month, but…
David Silva Smith
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8
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2 answers

Are there any legal implications when using localbitcoins.com?

You can get BitCoins for under 100 bucks via CoinBase and there are people on LocalBitCoins who are advertising offers to buy BitCoin for over 100 bucks. The spread is around $10; so I was considering arbitraging. Are there any laws that would…
Pete
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7
votes
3 answers

How do I buy Bitcoins safely face-to-face?

I've made a contact via LocalBitcoins.com and am going to buy some coins with cash. The seller is not verified, but as we will meet, it sounds ok: I show him the cash. He transfers the Bitcoins. We wait one block. I give him the cash. Is this safe…
Borph
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6
votes
2 answers

I am going to buy bitcoins for the first time from a seller on LocalBitcoins. Please guide me.

I am going to buy bitcoins for the first time from a seller on LocalBitcoins. He says that funds can be transferred via internet banking. He seems to have good feedback, 9+ reviews but I am kind of nervous. What exact steps should be followed for a…
Ashwin Singh
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4
votes
1 answer

What to do when a website says that my bc1... address is invalid?

I used local Bitcoins wallet to send bitcoin to my bitcoin wallet. But it said wrong address
Rehema Olonya
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3
votes
3 answers

Are there any online services available to exchange prepaid cards into BTC?

I live in the USA. I would like to use prepaid cards to buy some BTC (less than $100USD) I've tried trucoin.com and the wait time is enormous, 4 days since sign up and still haven't received an invite. I've also tried circle.com but they do not…
Xilas
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2
votes
0 answers

How do LocalBitcoin's merchants prevent volatility risk?

For example, how does a Bitcoin merchant (someone who buys and sells Bitcoin as a business type deal to make commission) prevent the losses induced by the volatility in the market? I.e., say you buy a Bitcoin on an exchange worth $10,000, and then…
b0xxed1n
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2
votes
1 answer

What happens if I send small amount of btc lesser than fee?

I tried to deposit a small amount of btc in localbitcoins.com, but it was smaller than their deposit fee so it was not processed by them, now what will happen to that chunk? and can I get back the btc?
Saravanan
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1
vote
1 answer

Retrieving my unspent Bitcoin output

I have sent my only begotten BTC from my exchange currency account but not yet received in my blockchain wallet, and when I inquire with my transaction ID, I found my the transaction to be stuck for four days now... So, it seems to be there and but…
Menzi
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1
vote
2 answers

How do I send money from imported keys to my localbitcoin wallet?

Okay, I imported keys from my desktop to MultiBit, it took a while, now I have got a file on my desktop, when I open it with notepad there is like: "receive, *walletadress", receive walletadress" etc. Now, could you please tell me how to send money…
Milosz
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0
votes
1 answer

What is local Bitcoin?

I was listening to the Pompliano podcast and there was this really awesome guy talking about how he has been able to use local Bitcoin to stay afloat in amidst a collapsing economy and society in his home nation of Venezuela. He shared how others…
Daniel
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0
votes
1 answer

Why the difference in send/receive fees on localbitcoins.com?

At least in https://localbitcoins.com/, the fees for sending and receiving Bitcoins (from/to outside localbitcoins, of course) differ by a factor of three, approximately. Currently: 0.08715 mBTC for sending, 0.26144 mBTC for receiving. Is there some…
leonbloy
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0
votes
1 answer

Is it possible to get already-sent bitcoins from a corrupted wallet?

I bought some bitcoins on LocalBitcoins then downloaded Bitcoin-qt then instantly sent it to my wallet and now the wallet is corrupted... Is there a way to get them back?
Mike
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0
votes
1 answer

Localbitcoins history btc_in_usd rate?

In 2016 Localbitcoins (LBC) introduced a new stable variable for price equations called btc_in_usd. It was/is based on the rates of the seven most famous exchanges, and LBC calculates a median price from all these sources for btc_in_usd. Is it…
Passerby
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0
votes
1 answer

Selling bitcoin from a paper wallet

I'm looking to sell bitcoin from a paper wallet into fiat. So far my research is suggesting that a good way of doing this may be to transfer the paper wallet to LocalBitcoins wallet and sell from there. As I understand it, this incurs a fee to bring…
shennan
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