What is localbitcoins?- Tips on How to Use it5 min read

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Newly entered the crypto world? Looking for the best crypto exchange to trade on? choosing a reliable exchange platform must be a hard decision. Stick with us until the end of this article and you will read information about one of the popular exchanges in this market and the tips on how to stay safe on it.

Localbitcoins is a very interesting company based in Finland in 2012 and now it’s one of the world’s leading p2p bitcoin trading marketplaces.

Localbitcoins is a platform that allows its users to connect with others to buy and sell bitcoins from anywhere in the world in a safe and secure environment for everyone.

this is a p2p network service, where buyers and sellers are negotiating an exchange of digital money, the platform acts as a trust account.

Localbitcoins make it easier to buy bitcoins to pay services from different providers that prefer their payments for that cryptocurrency and sell the bitcoins.

this exchange has a high user base that fastens the process of trading because you don’t have to wait for so long to match your trade request.

Also, the good thing about localbitcoins is that you can trade from person to person and agree on the price and rate completely directly between the seller and the buyer. This network connects buyers with sellers in your local area.

The number of people using cryptocurrencies is growing. So looking to the future it will make sense for merchants to accept cryptocurrency as a method of payment.

LocalBitcoins is a Bitcoin-only company but in the near future in 2022, you can expect this to change. This company has seen the demand for other cryptocurrencies.

what is localbitcoins

How does LocalBitcoins work?

Although user identification wasn’t needed in the past, the increase in the number of traders and also scammers has ended in the need for user identification for better security.

As a result, all the active users today are duly registered and have undergone some KYC.

Registration

For opening an account in the localbitcoins. You need identity documents, such as a passport or national ID card. Register your email and follow the instructions to upload the wanted documents. Once your account is opened you can and should complete your profile. For some safety reasons the other users may not trade or communicate with you because you didn’t have completed your profile.

Search Trades

You can quickly start searching to buy or sell bitcoin using the quick buy or the quick sell tabs. You can use several filters, such as location or fiat currencies, to narrow down the results. Another payment method, depending on the seller, you could use cash, localbitcoins PayPal, or a variety of other methods.

Get familiar with your buyer or seller

There is a possibility to check the buyer or seller profile and you can evaluate the trustworthiness of the individuals.

Feedback

Like in Amazon or eBay when you buy something you can leave a review on it, you can leave feedback whenever you trade on localbitcoins. This helps to keep the platform safe and secure and it will notify other users of any scammers or malicious activity.

Stay safe on the LocalBitcoins exchange

  • Do not send mor4e information before you receive a response from the seller or the buyer
  • Never agree to trade outside the exchange because then you will not be protected by the localbitcoins escrow system
  • Only and only use the localbitcoins interface, never send payment information outside the exchange

LocalBitcoins features

Low fees

Quick transfers

High traffic

User availability

Decent payment options

P2p economy

Sms alerts

24/7 technical support

Reporting/analytics

Real-time data

Electronic payments

Transaction management

Set default amounts

Real-time monitoring

Price guarantee

 

What payment methods are accepted on localbitcoins exchange?

  • Webmoney
  • Western union
  • Wire transfer
  • Paypal
  • Cash(in person)
  • Cash by mail

localbitcoins security features

The localbitcoins security features

  • Login guard
  • Two-factor authentication
  • Strong password
  • Reputation system
  • Escrow service
  • Conflict resolution support
  • Sms and email alerts

 

Localbitcoins mobile app

The localbitcoins application facilitates crypto purchases and sales for traders in 190 countries. It provides support for almost all of the countries. The localbitcoins app has more than 100 payment methods. Users are offered a free bitcoin wallet while the security has been enhanced with biometric and two-factor authentication.

With the help of localbitcoins mobile app, users can have their bitcoin and exchange it everywhere. The statistics have shown that nowadays the number of app downloads has had a big growth. This proves that developing an exchange app will bring a lot of customers and income for the business.

The localbitcoins has already received over 10,000 downloads in the play store, the app is supposed to be similar to the existing web version, where users can buy, sell and transfer Bitcoin.

localbitcoins clone app development

Key features of localbitcoins app

  • Buy and sell bitcoin everywhere in an easy, fast, and secure way
  • Supported more than 190 countries
  • Almost all global currencies supported
  • 100 different payment methods supported
  • The bitcoin wallet is free of charge
  • Two-factor authentication and high security
  • 24/7 customer support
  • Multilingual support

 

How to develop a website like localbitcoins

Localbitcoins clone script

One of the best and fastest ways to develop a website like localbitcoins clone script is using the localbitcoins clone software.

The localbitcoins clone software has all the core functions and features that the main localbitcoins exchange has.

The localbitcoins clone script is becoming popular among startups and entrepreneurs. Because it helps the entrepreneurs to run and launch their website in a shorter time and with less money.

It needs less time because it doesn’t need all the time that is needed for gathering a development team and for the development process.

Also, the features and functions that each business needs can be added to the platform. Before purchasing the localbitcoins clone script request a demo from that cryptocurrency exchange software development company.

The only negative thing about the clone script is that they are becoming popular these days. There might be different localbitcoins clone script exchange website active in the market that is similar to each other, but this is not a big deal because with a little creativity and by adding unique features to your website you can make your website shine among all the competitors.

Also, you can launch and run your localbitcoins clone app and stand out among all the competitors, providing an app for both IOS and Android will add value to the exchange.

 

 

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