Post
Topic
Board Bitcoin Discussion
Re: How and from where I can buy bitcoin. I live in Canada?
by
lezawang
on 03/12/2017, 16:28:28 UTC
Thank you so much for your reply Dudeperfect. I went and signed up with Localbicoin. I have the following questions if you do not mind please

1) I see sellers and buyers, does that mean this side basically allowing user to buy bitcoin from different users on the internet who are willing to sell their bitcoin? If yes then Localbicoin work as a middle man, right?

2) If I bought bitcoin from a seller, where my bitcoin are going to be saved? in Localbicoin? If yes, do they charge for this service?

3) If I have bought bitcoin from a seller, I can be a seller too later right? and if I sell something I can ask the buyer to deposit the money into my account right (bank acct if i am using Interac)

4) You mention to use irreversible payment. Not sure if I got the idea but as you mention later Inerac. Why is that, so people can not have access to my bank acct etc.  I mean it is saver?

5) Localbicoin.com is also asking to upload a copy of my ID. Is that safe to do so?

Sorry for my ignorant but I am learning and a bit of worry and scared. So I want to be more educated and  I thank you for my bottom heart for all your help.
Thanks


I have been using Localbicoins for last few years and never had any issues with it so I would recommend you to try it but make sure that you are choosing the right/reputed trader and irreversible payment method while trading. Interac e-transfer is popular in Canada if I am not wrong.

* Buy and sell bitcoins in Canada, with cash and online.

I am not aware of the KYC guidelines in other countries so have a look at it before opening a trade request for the higher amount.