LocalBitcoins is a person-to-person bitcoin trading site.
At LocalBitcoins.com, people from different countries can exchange their local currency to bitcoins. The site allows users to post advertisements where they state exchange rate and payment methods for buying or selling bitcoins. You reply to these advertisements and agree to meet the person to buy bitcoins with cash, or trade directly with online banking. Bitcoins are placed in LocalBitcoins web wallet from where you can pay your bitcoin purchases directly.
LocalBitcoins.com is de-centralized, embracing the nature of bitcoin.
On LocalBitcoins. you are dealing with humans. Unlike centralized, stock-exchange-like, bitcoin trading sites, you make a trade directly with another person. This makes the process lean and fast, as there is no corporate overhead. You get your bitcoins instantly. Also, LocalBitcoins.com can support every payment method its user community supports. For every transaction, LocalBitcoins offers escrow or transaction service to protect the buyer of bitcoins.
- Trade process duration from the creation of the user account to having bitcoins in your wallet is a few minutes.
- LocalBitcoins payment method supports wide range of world payment methods.