How to buy bitcoins from other users near you, using Localbitcoins. People like to use localbitcoins because their system makes sure that the sellers get paid, and the buyers get their bitcoin. Their system works well, and if you follow all the normal steps, everyone is happy and the process goes through smoothly.
Localbitcoins will take the bitcoin that you want to buy out of the sellers account, and put it into escrow. The seller cannot cancel the order after you have paid to get back his bitcoin, he can only release the bitcoin to you, the buyer. Only the buyer can cancel the order, in which case, localbitcoins will return the bitcoin back to the seller.
Step 1 – Register for a new account on localbitcoins
Register for a free account on localbitcoins.com by clicking the Green ‘Sign up free’ button on the home page. (www.localbitcoins.com)
Complete the registration form to open an account by adding your email address, and then choosing a username and password for your account. Click the checkbox to verify that you are not a robot, then click the green ‘Register’ button.
Once you have done this, you will be shown a Success page, with a message in Green.
Localbitcoins will send you an email in order to verify your email address. You will need to login to your email account and click the link in the email to verify your email address. You will now be able to use localbitcoins to buy bitcoin from other users!
Step 2 – Search for a seller near you to buy bitcoins from
Go to the main page and in the search box fill in the form with the amount you want to buy in your currency, your location and choose a payment method. If you’re unsure how you want to pay, choose “All online offers” as your payment method. The site will list bitcoin traders available in your region.
Step 3 – How to choose a seller to buy from
From the list of advertisements, choose one from a trader with a good reputation score and a high amount of trades. The response time indicator shows if a trader replies within five minutes (green), within 30 minutes (yellow) or slower than 30 minutes (grey). You can click the ‘Buy’ button to view more information about an advertisement.
Step 4 – View sellers advert and buy bitcoin
After you press the ‘Buy’ button you’ll see more information about the advertisement, including the terms of the trade. Read through them before submitting the trade request, if you don’t agree with them you can go back to the previous page and choose another advertisement.
In the blue boxes, choose either the amount of bitcoin you need, or the amount of Rand (ZAR) you would like to spend. Whichever box you use, the other will update itself based on the sellers bitcoin price. If you are happy and ready, click the ‘Send trade request’ button to buy bitcoin!
To start the trade, type in the blue box how much you want to buy, enter a message for the seller and click the Send trade request button to the start the trade. Be sure you’re ready to pay when clicking the button, if you don’t pay before the payment window is over, the trade will be automatically cancelled.
Step 5 – Finish the trade
Once you have made the payment to the seller, click the “mark payment complete” button. Once the trader has verified that your payment has been received your Bitcoin will be released from escrow and they are instantly available in your LocalBitcoins wallet.
And that’s all there is to it, congratulations on your first Bitcoin trade!