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Board Beginners & Help
Topic OP
quick basic question by noob about localbitcoins process
by
lorax2013
on 31/10/2013, 20:14:32 UTC
Trying to buy first time thru Localbitcoins.  I initiated a purchase and the seller enabled and funded escrow.  He then said I just deposit $ into his bank account and after I send him a scan of the deposit slip, he will release the coins.  He says he only sends me my verify code from local bitcoins after i deposit $.

I just want to check this is the normal/correct procedure.  For example, how does anyone verify that the bitcoins were sent to the correct wallet.  I assume it must go thru my localbitcoins wallet but there is no instruction to that effect.  What if $ is deposited and bitcoins never sent?  Can seller claim i requested sent to a different wallet or must it always go to my localbitcoins wallet?  Is localbitcoins good at taking the loss and paying my bitcoins in such a case - and if so what do i need to prove the $ was deposited?  Just my deposit slip from seller's bank?