BEGINNERS TUTORIAL ON HOW TO USE LOCALBITCOINS IN 2018: TWO THINGS TO WATCH OUT!
Wondering how to use LocalBitcoins in 2018? If yes, I will show you how to Buy, Receive, Transfer, Withdraw, Track & Exchange BTC To Fiat LOCALLY using LocalBitcoins!
Now, there is no excuse now about where to buy bitcoin in your country, right? Why not?
I already showed you how to overcome fear and buy All sorts of Altcoins on your own,I went ahead to show you how to get free and secure Crypto wallets in case you don’t have the funds to buy these cost-free wallets, and lastly, I showed you safe places to buy Cryptocurrencies near you.
So, today, I will go on to show you how to Buy, Send, Withdraw, Transfer, Track and even Exchange Bitcoins universally. By universally, I mean, in your country or near you.
I can’t wait because I am excited about this.. let’s send down the rain…
Localbitcoins is a universal person-to-person bitcoin exchange that gives everyone the opportunity to trade bitcoin.
Localbitcoins is based in Finland.
On LocalBitcoins.com you are dealing with humans, and because it is a decentralized exchange, you get your bitcoins instantly.
Over the years, they have recorded a vast number of traders based on their reputation and a simple & beginner interface. And as a matter of fact, at Localbitcoins, you are not limited to 1 or 3 payment options.
You are simply open to different kinds of convenient payment methods, remember, you can even buy bitcoin from your next street neighbor, if at all, he’s selling his bitcoin at LocalBitcoins.
The minimum amount of Bitcoin purchase is – appr $2.75105
Disclosure: it is all right to tell you that this is the first post I will PUT my affiliate link after about 90,000+ words and 32 articles. This means that if you use my link, I will be rewarded a little wherefore I can settle for web space bills. Thanks.
- 0.1 3 REASONS WHY I USE LOCALBITCOINS & YOU SHOULD
- 0.2 HOW TO OPEN A LOCALBITCOINS ACCOUNT WITH SECURITY AUTHENTICATION
- 1 HOW TO USE LOCALBITCOINS AS A WIZARD AND BUY BITCOIN FROM ALL SELLERS
3 REASONS WHY I USE LOCALBITCOINS & YOU SHOULD
1. BEING SPECIFIC
How many of us love Coinmama (guide) because they are consistent while not providing a full trading service? I do.
Now, LocalBitcoins is only for Bitcoin trading, so, it is cool to be relevant in one part and do it so well.
Therefore, I like LocalBitcoins because of the consistency.
Having tested the excitement of been scammed on a crypto exchange, I am more specific to stick to few Crypto exchange I trust.
More so, I wouldn’t recommend or review a vague Bitcoin exchange on this site, not after the WWE-RAW with my last Bitcoin.
So, LocalBitcoins, by all means, is secure.
However, you can be scammed if you ignore the main security options – two factor authentication, and buying Bitcoin from a non-reputable seller.
Do you have reason to fear?
Nope, I will show you how to set up two-factor authentication on your account. Also, you will see all the steps as I use it to Send, Withdraw, Transfer, Track & Exchange BTC To Fiat!
LocalBitcoins is universal so I don’t have to scratch my head about where to get Bitcoin locally.
With LocalBitcoins, you can simply get Bitcoins at your fingertips –near you; a seller can be from your neighborhood.
Want more reasons? Get the full review coming up here?
HOW TO OPEN A LOCALBITCOINS ACCOUNT WITH SECURITY AUTHENTICATION
1. Visit LocalBitcoins.com and create an account.
2. Click on Sign up for Free.
3. Enter the reCAPTCHA, and click on Register.
4. Verify your account by clicking a link that will be sent to your account.
That is all.
LOCALBITCOINS ACCOUNT WITH SECURITY
I want you to succeed so, see how to take total control of your account.
How to set two-factor authentication on your localbitcoins account. This is the guide – 5 minutes set up.
HOW TO USE LOCALBITCOINS AS A WIZARD AND BUY BITCOIN FROM ALL SELLERS
• Hope you are verified and two-factor authentication using Google Authenticator is in place? If no, go back and activate them while I wait for you.
• Also, to buy Bitcoins, you will need to get verified.
Go to your Profile and click on Verification. The verification is simple enough. You can take a clue from here.
If you have done those, then let’s continue.
1. Visit LocalBitcoins.com and Register an account (if you didn’t).
2. Go ahead and verify by clicking the link sent to your email address
3. Sign into your account dashboard.
4. On your account, you will see the list of buyers. Click on them and see their reputation, method of payment (which will be related directly from the seller to you).
Apart from clicking on the list of buyers, you can enter the EXACT amount of bitcoin you wish to buy by entering it in the space provided, then click on Search button.
When done, the right & matched seller based on your amount will show forth. Check out the image below.
• If you want to check the reputation of the seller, just look at the color pigment close to their name (green, gray and more), see below.
5. Look out for the highest reputable seller. That is use the most trusted seller.
COMMON TERMS ON LOCALBITCOINS.COM
➡ Trading Limit: this is the amount of amount you can only purchase from the buyer.
➡ Payment Method: this shows the means through which the transaction will take place. An example is going for an option like PayPal, cash, credit card and etc.
• To choose any payment gateway of your choice, all you need to do is click on “All Online Offers”
➡ Price: this shows the current rate the seller is willing to sell his or her Bitcoin.
➡ Terms of Trade: this shows how the seller wants you two to go about the transaction so as to make it as fast as possible.
➡ Payment Window: In case you see this, it just defines the time frame you have to pay the money to the seller else when elapsed, the transaction cannot be processed.
(you will need to re-apply).
6. Okay, now, click on the seller you wish to purchase from, check his/her terms and conditions (price, payment window, trading limit and etc.), when satisfied, enter the Bitcoin amount you wish to buy.
Now note, although, it is optional, however, writing a short note or message in the space provided is really important. It aids quick response from the seller.
When done, go ahead and click Send Trade Request.
Personally, about purchase, I do prefer cash deposit if the seller’s location is close by. Well, you can go for what trips you, but that’s just it for me.
After sending the send trade request, the seller will contact you where your transaction will be done and dusted that’s it.
7. Once you have made the payment, click the “I have paid button”.
Once the trader has verified that your payment has been received, your Bitcoin will be released from the escrow and they are instantly available in your LocalBitcoins wallet.
When you bring the cash, all you have to do is request the verification code from the seller. Funds will be available in your LocalBitcoins.com wallet.
And that’s all there is to it, congratulations on your first Bitcoin trade!
HOW TO SEND & TRANSFER BITCOIN TO OTHER RECIPIENT(S)
Step 1. Go to LocalBitcoins.com and Login
Step 2. Go to where you see your Bitcoins (top right) and Click it.
Step 3. Before you get the wallet address, see the equivalent amount you want to send under Amount.
When satisfied (or if you want to reduce or increase the BTC amount), go to the next step
Step 5. Get the wallet address from the recipient exchange.
You will see an example of the wallet address as I sold to a local exchange below. 😕
Step 5. Copy the wallet address and paste it inside the Bitcoin Address box.
Fill out the description if you want.
Lastly, observe the recipient bitcoin address to make sure it is all right.
Step 6. Click on Continue.
Step 7. On the next page, Confirm your outgoing bitcoin transaction. A prompt to enter your password will pop up. Go ahead and enter your account password.
Step 8. Click on Send. That is it.
Step 9. Wait for the Blockchain to confirm & process the transaction.
That is all. (More explanation below).
HOW TO WITHDRAW & EXCHANGE BITCOINS TO FIAT AS A WIZARD
N/b: you can also trade the amount you want to withdraw on LocalBitcoins directly (to your local currency), but if you want a snappy withdrawal to fiat, let’s continue.
Tools you need?
You will need to get the wallet address of the Exchange you want to use. So, go ahead and log into it and copy the wallet address.
Assuming I want to withdraw Bitcoins from LocalBitcoins to Coinbase, and from there I can withdraw as fiat.
What I will do is that I will first visit Coinbase.com and (1). Get an account, (2). Copy my Bitcoin Address. When I am done, I will paste it on my Notepad while I login to LocalBitcoins.
See an example below…
So, now, copy the wallet address to LocalBitcoins.com
1. Visit LocalBitcoins.com and login to your account.
You will be prompted to enter your Six Digit code from Google Authenticator app. Go ahead and launch it and get the code. Enter it and click on Verify.
N/b: A link might be sent to your associated email account (if LocalBitcoins notices that you’re attempting to log in from an unauthenticated browser). Go to your email and open the link in the browser to complete browser verification.
2. Click on the Bitcoin Icon at the top right margin.
3. Click on Send Bitcoin.
4. Copy the recipient wallet address (from an exchange) and paste it inside “Receiving bitcoin address” box.
Enter the amount, enter the description (optional). The amount will automatically show up.
5. Click on Continue.
6. Confirm your transaction and that is all.
6. Click on Send from Wallet.
The Bitcoin will be on the Blockchain waiting for delivery. Give it 5 to 30 minutes and you should have your local currency delivered.
Check or not: if you want to see the unconfirmed transaction, I will show you soon, but see how it will be like.
7. Confirmation is Done! – Success.
HOW TO RECEIVE BITCOINS ON YOUR LOCALBITCOINS WALLET
1. Login if you had logged out.
2. Click on the Bitcoin icon.
3. Click on Receive Bitcoin
4. Copy out the Bitcoin wallet address.
5. Send it to the sender. That is it.
HOW TO TRACK YOUR BITCOINS FROM LOCALBITCOINS
Why Track your Bitcoin transaction ID?
At times, if you are using a local Crypto exchange, you might be asked to provide the Trnx ID before your payment or deposit is confirmed. So, I will go along to show you as well.
Step 1. Go to Blockchain.info. Go down to Address, IP, Hash.
Step 2. Copy the recipient wallet address and paste inside the Hash IP Box.
When entered, Click on Search.
Step 3. Look down (down right), and you will see your amount and the processing transaction.
Unconfirmed means: the Blockchain network is yet to confirm it.
Now, should the Altcoin Exchange ask of the Transaction ID to verify the payment/deposit from their end, then we have to go to Step 4.
Step 4. On the left hand side of the Unconfirmed Transaction.
Go down and copy the Long string address; that is your TrxID.
That is all.
Hmm, let me take a break. But before that, what is a TrxID? Check this Out.
Breaking News: You need to see these two articles that will make you love Crypto world; 😎
➡ Top 7 Active Cryptocurrencies For August 2018. (Current analytics).
HOW TO TRACK ALL YOUR TRANSACTIONS ON LOCALBITCOINS.COM
Now, should you want to see your former transaction(s), what you need to do is take these three steps.
➡ Login if you had logged out.
➡ Click on the Bitcoin Icon on the top right corner.
➡ Click on Transaction.
Below is a transaction sample to see how it looks like. All you have to do is click on the transaction date you want to check out.
The fiat received...Graphics below.
I am scratching my head now to see if there is anything else.
Nope. I don’t think so. If you haven’t set up your two factor authentication, then you need to do it.
TWO THINGS TO WATCH OUT FOR?
➡ Use a verified seller and set up your two factor authentication.
Upcoming Post you might want? Crypto wallet management part 2.
Would you want me to send you how a Bitcoiner had his account hacked into even with 2-factor? Think about it…
Before you go, I don’t know if you want me to be your second crypto guy or not, see here. But if no, I value you to tell you the truth always. Just take the shit I will say now – if actually, it is.
I want to make sure you are WELL informed else, you might end up using a Yahoo mail for your cryptocurrency projects instead of a Proton email account or Gmail activated by two-factor.
Note: “Gmail account activated by two-factor”.
If you are not using Proton email account, get on with it now as your main Crypto project email account.
My stand is that always open a new email account for crypto projects and activate two-factor authentication on it.
I know I have already shown you using 6 hours on how to activate the two-factor on your Gmail account and over 1, 000 bitcoin exchange websites.
I just discovered some days ago how a cryptocian got his altcoin trading account hacked into even with two-factor authentication via his Gmail account.
Don’t fret too much,
Get on the list and get it delivered straight to you, seriously, I will. JUST Leave your crypto email below.
Verily, verily, you will see why you need it. But for now, you can see part 1 of crypto wallet management till the part 2 comes up.
I have said a lot because I don’t want to show you how to use Localbitcoins as a wizard but at the end, lose the account to ba…dddd guys.
I hope I have done justice to this subject. Tell me below that this guide is not true to its word, else, help click the share button. Thanks.
Get a free LocalBitcoins.com account for universal function.
(you can get started at Changelly by selecting the PAY WITH and YOU GET buttons to see how flexible it is).