Post
Topic
Board Speculation
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
ssmc2
on 01/12/2018, 15:20:17 UTC
You pay slightly over the market price but I quite like buying on Localbitcoin’s. They have an escrow type service that protects both buyer & seller.

I had to verify my real life name & address there last year though as they said I’d sold too much (it was when I converted BCH into BTC & sold the BTC’s there. It added up to I suppose what some might consider a lot (fiat wise) in a short space of time.

     I have never used Localbitcoin's, but if you are using them as an "escrow," aren't you basically trusting a third party with your coins? Plus, you reveal that you had to give them KYC information. Therefore, it appears using Localbitcoin's is only slightly better than using a standard exchange.

The few LBTC traders I've dealt with have just communicated via SMS then we meet and exchange through our phone wallets.  No escrow needed. Then I just keep their contact info for future transactions.