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Hmmmm
So localbitcoins isn't that secure.
How about that:
- I meet that guy, I'm giving him the adress of my wallet
- He releases the transaction (given the case that we both have internet access)
How long does it take for me to see wether the transaction is completed?
He can't cancel the transaction once he released it, can he?
So localbitcoins isn't that secure.
How about that:
- I meet that guy, I'm giving him the adress of my wallet
- He releases the transaction (given the case that we both have internet access)
How long does it take for me to see wether the transaction is completed?
He can't cancel the transaction once he released it, can he?
I believe, although I am not certain, that the bitcoins are put into escrow as soon as I sent the request to the advertisement (so step 1.5). I've not yet seen this process from the seller's perspective.
Unfortunately, I am not certain first-hand how this process works if you are transferring via cash in hand. There are more details on the 'transaction service' that offer which is designed for cash in hand - see the link below.
https://localbitcoins.com/faq#howto_why_transaction
Unfortunately, I am not certain first-hand how this process works if you are transferring via cash in hand. There are more details on the 'transaction service' that offer which is designed for cash in hand - see the link below.
https://localbitcoins.com/faq#howto_why_transaction
Thanks for the link, but this seems to confuse me:
Quote
Note that both parties can cancel the trade at any time. Each trade done with the transaction service will build your reputation on localbitcoins.com
Doesn't that mean that even if he releases the bitcoins, and receives the transaction-code he can still cancel the deal? Like on paypal?
As far as I unterstood it, when I buy bitcoins through the built-in escrow feature (localbitcoins.com), I enter amount etc., we (me and the seller) he activates the transaction, and when it is activated he sees the same transaction-code as me and then I know he really released the Bitcoins.
Did I get it right?
Are there any ways for the seller to scam me?
Is the escrow-feature on localbitcoins.com safe?
Anyone got experience with it?
I read an article where it said about 40% of all transfers are scams as sellers simply trick people.
What can possibly wrong?
Sorry for beeing paranoid but I want to be as safe as possible.
EDIT***: @DivineOmega Thats the process for online payment, do you know how it works when meeting irl?
Did I get it right?
Are there any ways for the seller to scam me?
Is the escrow-feature on localbitcoins.com safe?
Anyone got experience with it?
I read an article where it said about 40% of all transfers are scams as sellers simply trick people.
What can possibly wrong?
Sorry for beeing paranoid but I want to be as safe as possible.
EDIT***: @DivineOmega Thats the process for online payment, do you know how it works when meeting irl?
to clarify, exchanging physical bitcoins has to be among the most INSECURE ways to do this, the guy can give you fake codes and you won't know it until you load them into the computer and they fail to be confirmed in the blockchain
a scammer could follow those instructions for paper bitcoins, substitute litecoin information, sell them locally through craigslist and steal plenty of peoples money
a scammer could follow those instructions for paper bitcoins, substitute litecoin information, sell them locally through craigslist and steal plenty of peoples money
By physical bitcoins you mean real coins you can touch?
What would you recommend me for anonymously buying bitcoins?
https://localbitcoins.com/ might be what you are after.
Yea I was recently looking into that.
Would you mind explaining the built-in escrow service? I read about it, but didn't get it
@FoBoT
No Printer
Hey y'all
im pretty new to the BTC scene and I have a few questions.
I'm planning to buy some Bitcoins from a guy I will meet in a few days.
After reading tons of sites about Bitcoins it seems that there are lot of scammers out there.
What's the easiest way to transfer BTCs face-2-face without worrying about getting scammed?
I could bring my notebook, but w/o internet access since were meeting at a public place.
Thanks in advance, greets!
im pretty new to the BTC scene and I have a few questions.
I'm planning to buy some Bitcoins from a guy I will meet in a few days.
After reading tons of sites about Bitcoins it seems that there are lot of scammers out there.
What's the easiest way to transfer BTCs face-2-face without worrying about getting scammed?
I could bring my notebook, but w/o internet access since were meeting at a public place.
Thanks in advance, greets!