Oh, what option should I look for as far as getting $ back from a localbitcoins deal? Cashier's check is risky, Paypal can be reversed. Is there some way to wire through a trusted proxy so the guy on the other end doesn't actually get my bank numbers?
Not that i know of. If you want that, you should look into an exchange, not P2P.
I thought exchanges were just for one cryptocurrency to another, they didn't deal with dollars. I expect to need to do this every price cycle with increasing amount of money, so I'm interested in getting set up to do it with low overhead and bother.
I suppose Moneygram or Western Union might be options.
Take note:
Some other services that are not totally safe:
- Bank transfers (ACH, etc.) except wire transfers
- Most gift cards.
- Moneypak
- AlertPay
- Paysafecards
- Dwolla
- Western Union (they reportedly will sue the recipient to recover money in some cases)
So localbitcoins automatically handles the escrow?
Yes, but the problem isn't the escrow, it's what happens after it, and whether or not the seller tries to revert his payment.
So I'm back to favoring Moneygram or Western Union. I sent a boatload of money to a scammer a few years back by Moneygram, and they won't reverse that. Western Union wants more forms of ID than I own. Moneygram I can do at a CVS or Walmart. Still 20 miles away but oh well.