Localbitcoins is an open source platform that allows users to buy and sell Bitcoins with real-time people. It gives sellers the opportunity to advertise their Bitcoins and gives buyers the chance to search for suitable sellers. Read this walkthrough to learn how you can purchase Bitcoins on Localbitcoins.
Step By Step Bitcoin Buying Guide On Local Bitcoin
Step One: Open about Account
Before you can purchase Bitcoins on this platform, you need to create an account. Visit Localbitcoins.com and sign up for free. After signing up, enter the required details and click on register. Go to your email and confirm the account by following the registration link.
Step Two: Update Your Profile
After you have generated the wallet, you need to update your profile. You can do this by entering your real name and verifying the phone number. You’ll see a person icon at the right-hand side of the toolbar, click on it to complete profile.
Step Three: Buy Bitcoins
At this point, you’ll be ready to purchase Bitcoins from sellers on the platform. Click on “buy Bitcoins.” The page will display a list of sellers you can purchase Bitcoins from. You should expect to see the following information:
SELLER- it gives you the name of the seller and their stat on the network, DESCRIPTION- this states the sellers preferred payment method, PRICE
/BTC – the asking price per Bitcoin in local currency, limits- the lowest and highest possible amount for sales, PAYMENT OPTION- the available payment options from the seller.
The seller you choose should be someone who has good ratings on the platform. The payment method should be in line with what you want. Also, the rate should be fair. Make sure you compare rates from different sellers before you place an order.
Step Four: Verify Your Identity
You’ll have to scan your ID to prove that you’re the owner of the details. The credentials on your ID must tally with the credentials on your bank account. Keep these documents near you before you proceed with the trade.
Step Five: Purchase Bitcoin
At this point, you can type the amount you’d like to buy and what you’re willing to pay in local currency. You’ll be redirected to chat room with the real seller where you’ll submit your ID and conclude the purchase.
That’s how to purchase Bitcoins on Localbitcoins.