An overview of LocalBitcoin:
LocalBitcoin is a P2P platform allowing users to buy and sell bitcoin between each other. Regarding registration, if you are comfortable with providing personal information, email, phone and ID verification is required to create an account. Once verified, users can post a customised trade highlighting trading amount, exchange rate and payment method.
When a buyer buys bitcoin, the equivalent of the trading amount is held in escrow, once the seller has excepted the trade the escrow is released and sent to the seller.
Due to bad actors/scammers it is important to stay vigilant on LocalBitcoin. If you care to be extra safe, you could check the vendors trading reputation and if they are fully identified. Never close a trade outside of LocalBitcoin, it is extremely risky and customer service will not be able to help if the trade is unsuccessful.
Could you share your advice or opinion for those not familiar with LocalBitcoin and would you recommend?
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