Post
Topic
Board Service Announcements
Re: Convert bitcoin to cash for free with Bitcoin-Brokers
by
sayulita
on 10/12/2013, 16:49:50 UTC
So, basically, you are a middle-man to make sure the sellers respect the price quoted? Does it work like LocalBitcoins?

Here is a quick explanation as to how things work here:

The bitcoins that we sell you have been placed for sale on our site by individual sellers. The sellers provide us with their personal banking information. Bitcoin-Brokers handles the sale of the bitcoins, handles the communications and directs buyers to make cash deposits into these seller's bank accounts.

By setting it up this way, Bitcoin-Brokers never touches the cash. The buyer simply pays the seller directly.

That's it. There is no sign up, or registration. We do not collect any ID.

Sellers have their bitcoin priced in relation to specific exchanges (such as MtGox +4%, or Bitstamp +8%). This is always based on current (last) price on the specific exchanges.


When ordering I need to know three things from you:

1)How much in dollars would you like to purchase?
2)What bank would you like to pay at? (currently bitcoin is available most frequently at Bank of America, Chase, Wells Fargo)
3)What is your bitcoin wallet address?

Once I have that information I can prepare a quote for you.

After you have made a cash-only deposit into the seller's bank account you will need to collect proof of the deposit you have just made. You will need to obtain the deposit receipt, as well as the business card of the teller.

Those two items will need to be photographed and then uploaded as an attachment to the same ticket used to request the quote. Once that is forwarded to Bitcoin-Brokers, I inspect it, and then forward it to the seller as confirmation of the deposit. It is at this time that I also make a request from the seller to release the escrowed bitcoin. Once this authorization is granted, I transfer your bitcoin to your wallet.

The seller has 24 hours to authorize a release of the bitcoin, though 99% of the time the bitcoin is authorized to be released much sooner than 24 hours.

On the off chance that the seller fails to reply to the request, Bitcoin-Brokers already has the bitcoin escrowed in our wallet, and we will simply complete the transfer of the bitcoin to you on behalf of the seller. You are always guaranteed to get your bitcoin when you buy them at Bitcoin-Brokers.

Anyways, I hope that clears that up for you.