Bitcoin escrow service for selling
Setting up advertisements to buy and sell Bitcoins This guide is for those who want to be actively involved in trading Bitcoins. If you are planning to sell Bitcoins only occasionally, secrow you're just starting out, please see the how to sell guide. Why trade on LocalBitcoins?
- Why trade on LocalBitcoins?
- Transaction coefficient This option works in combination with new buyer limit.
- Quick and easy way to trade Bitcoins.
LocalBitcoins is the leading P2P Bitcoin trading platform with over 1 registered users from countries. This is also known as over-the-counter OTC trading. People prefer to buy and sell Bitcoins OTC because it allows for fast transactions and more diverse payment methods. Centralized bitcoin exchanges are slow and cumbersome, trading directly with other people using the bitcoin escrow service for selling payment provider makes the money move much faster.
This creates a better bitcoln experience for the customer. Benefits of escfow on LocalBitcoins. More than one million users registered from different countries, Segvice gives you access to a global marketplace. Quick and easy way to trade Bitcoins.
For selling bitcoin service escrow When you
Escrow protection for safe trading protects both the buyer and the seller. Reputation system for finding and filtering trustworthy customers. Dynamic pricing system with hundreds of sources ensures your prices are always up to date. API to allow you to make your own trading more info to automate trading.
Overview of the trading process A typical trade esdrow LocalBitcoins works like this, the example is an online sell trade where you're selling Bitcoins to a buyer. The process is similar when you are buying Bitcoins online, but for this example we're focusing on selling Bitcoins, as that's the most common type of trade. First you need to create a sell Bitcoins online advertisement called an online sell advertisement.
When making the advertisement you choose a payment method, set your pricing, your limits selling write your terms of the seloing as a free form message. Then you need to fund your LocalBitcoins. You need to have Bitcoin in your LocalBitcoins wallet in order for customers to be able to bitoin trade requests from your advertisements. When a buyer opens a trade with you, Bitcoin for the full just click for source of the trade is automatically taken from your wallet ofr escrow.
Give the buyer payment instructions and guide the buyer through paying for the trade. You will receive email and SMS notifications fscrow someone replies to your advertisement. Once the buyer has paid and pressed the I have paid button you will receive a notification via e-mail, SMS and on the website that a trade has been bircoin for. When you've confirmed that you have received the payment it's more info for you to release the Bitcoins.
This moves aelling Bitcoins from escrow to the buyers LocalBitcoins wallet. The final step is to Leave feedback for the buyer and encourage the buyer to do the same for you. Feedback is important in order to gain reputation and make more trades. Getting started Before you start trading you need to consider what payment methods you are going to provide and research the payment method so that you know how it works.
When you first start trading we recommend you don't choose a high risk payment method. Transfer with specific bank can be a good starting payment method, especially if there are few escriw active in your country. A few sections down is more information about different payment methods and their risk level.
If you have a new account with no previous trading history, we recommend you start by replying to existing advertisements in order to buy and sell some Bitcoins. This will help you get a hang of how trading works and it will let you build some trading history which will make your account eslling which in turn gives your advertisements better placement in the listings.
Before you start trading Just starting out? Get some trading experience, with a brand new account it will be hard to find users to reply to your advertisements. Start out by contacting other traders ads to buy and sell, this help you get your first ecrow and trade completions. The more trades and feedback you have, the more trustworthy you are. It's also a good idea to verify your bitcin by completing both the SMS bbitcoin and ID verification. A verified account is more trustworthy for buyers and will help you get more customers. Legislation varies a lot from country sellimg country and whether your trading as an individual or as a business.
Research the payment method you're going to offer. bitcoin escrow service for selling
Read through other traders ads of the same payment method and make some trades with them. Try to identify possible problems before you start trading. Searching the discussion forums is also a good idea. We recommend you start trading using a low risk payment method, service for more bitcoin payment methods below. Use payment welling only for Bitcoin trading. Some payment providers will temporarily or permanently fro your account if dor receive unauthorized payments that are related to fraud.
Using accounts only for Bitcoin trading protects your personal finances. Setting up an advertisement The advertisement creation page is where you create new advertisements. You can also find this page from the post a trade link in the menu bar. There are some options when creating an advertisement which are required, and a lot of extra options which are optional but recommended to set. Using the extra options allows you to tune your advertisement to suite your fog strategy.
Value Share service bitcoin for selling escrow you
You can find all of the advertisements that you have created from your dashboardyou can also find it from the dashboard link in the menu bar from bitcoin escrow service for selling icon that looks like a speedometer. In your dashboard you can also see all of your trades, both open and closed. Advertisement requirements You need to set a location, currency, payment method, price, limits and write a terms of trade.
You need to have at least 0. You can create up to 5 advertisements at a time. For each Bitcoin you trade during 30 days you bitcoin escrow service for selling create one additional advertisement. Required options Enter the country where you want your advertisement to appear. Payment method Select the payment method you want to offer from the dropdown menu. See more in the section about payment methods. Currency Choose which currency you're selling for. For instance, if you're selling in France you should select EUR. You can use this list to find what your currency acronym is.
Margin or Price equation The easy way to price your advertisement is to enter a margin you want above the Bitcoin market price. To do that, enter a percentage in the margin field.
After the buyer has inspected the goods they can accept or reject them. General merchandise trading e. Cryptocurrencies like Bitcoin are esrvice most exciting innovation to hit the financial space in decades! Simply enter whether you are the buyer or the seller, both of your email addresses, a title and description of the item, and the selling price to get started.
If you want more control over your price, you can use the price equation read more. This will allow you to create an advanced pricing algorithm taking into account many variables. See more in our pricing guide. If you set it to five, and you have your currency set to EUR it means that smallest trade escfow bitcoin escrow service for selling open with you will be for 5 EUR.
The maximum transaction limit sets what the biggest trade that you want to accept is. Note that if you put in a larger maximum than what you have Bitcoins for in your wallet, bircoin actual maximum will be your wallet balance. Terms of Trade This is the text the buyer sees before he opens up a trade with you. It's a good idea to write instructions for the buyer on how you want the trade to proceed and if you have any specific instructions.
If you require, for example, the buyer to submit a receipt as proof of payment before you release the Bitcoins or if you need the buyer to provide an ID, this is the place to mention it. You can take a look at other traders advertisements for the payment method you want to use to get an idea of what good terms of trade contain. Extra options Restrict amounts to You can restrict the advertisement to only being able to open trades for specific amounts. If you enter 20,30,60 into the box a potential trade partner could only open a trade bitcoin escrow service for selling 20, 30 or 60 EUR.
Opening hours No-one likes it when someone doesn't reply. By setting your opening hours you can limit the time when your advertisements are shown to exactly those times when you are ready to trade. Set the times acording to your own local time, but first make sure that you have your own time zone set in your user settings.
By setting your opening hours you can limit bitcoin escrow service for selling time when your advertisements are shown to exactly those times when you are ready to trade. Currency Choose which currency you're selling for. If you're selling cryptocurrency, never release the escrow before you know that you have received money from the cryptocurrency buyer. Each future phase date and amount can be renegotiated as the complications of the project unfold, bringing unexpected costs. Turn off your advertisements when you're not trading. Required options Enter the country where you want your advertisement to appear. There are still some viable options that will allow you to conduct a Bitcoin transaction through Escrow.
Payment details Enter here specific information relating to how the buyer should pay, this can be your bank account number or e-mail address For e. Minimum volume You can set a minium required Bitcoin trading volume before a user can open up a trade request for escrpw advertisement. If you set this to 0.
Minimum feedback Similar to Minimum volume, the feedback minimum allows you to set a minimum required feedback percentage required to have in order to open a trade using your advertisement. New buyer limit This is a specific maximum transaction limit for new users. If a new buyer with no previous trading history wants to contact you, this is the largest amount they can open a trade for. Transaction coefficient This option works in combination with new buyer limit.
If you set the previous option to 0. For the first trade it will be your new buyer limit, for the following trade it will be 1. Display reference This shows bitcoin escrow service for selling automatically generated reference code for the trade. It's a convenient feature to use as the buyer can enter the reference as part of the message when purchasing, allowing you to quickly match payments to trades. Reference type Let's you select what kind of reference to display. Payment window How long of a time the buyer has to make payment before the trade gitcoin automatically cancelled.
Track liquidity In case you are offering Bitcoins for sellong using a payment method that only allows you to accept a certain amount a day you can use this feature to limit yourself to that. Bitcoin escrow service for selling tracking liquidity lowers the maximum limit of the advertisement each time someone sercice a purchase. Identified only By marking this checkbox you limit the advertisement so that esrcow users who have verified their ID with LocalBitcoins are able to open a trade.