Local Bitcoins: Buy Bitcoin In Person!

Coinbrief
Author
Last updated on:
Fact Checker

Local Bitcoins was founded in 2012, and is the easiest way to truly purchase Bitcoin directly. While other companies will sell bitcoin directly to their customers, Local Bitcoins instead facilitates direct bitcoin purchases and sales between its users. Using Local Bitcoins, an individual can find someone to meet in person and complete the transaction with cash. They can also purchase bitcoin online, using online banking transfers, direct cash deposits, PayPal or even Starbucks gift codes.

Local Bitcoins provides a multitude of options for buying bitcoin directly online
Local Bitcoins provides a multitude of options for buying bitcoin directly online

Risk Assessment of Direct Bitcoin Purchasing

Of course, this method of direct sales has risks. It is suggested that any cash purchases that are completed face-to-face should involve a neutral, public meeting place. No one should agree to meet in a private location with, or give out their home address to, anyone that they do not know personally.

Also, accepting online payments through PayPal, credit card, or debit card is risky, as the purchaser could potentially initiate a chargeback, which would reverse any fiat payment received in the Bitcoin sale — but the bitcoin transfer is permanent. This would leave the seller without their bitcoin, and also without the payment because of the aforementioned chargeback.

Local Bitcoins helps users assess the risks of various payment methods
Local Bitcoins helps users assess the risks of various payment methods

Such risks can be mitigated by taking notice of Local Bitcoins’ helpful risk notifiers, which inform buyers and sellers of the various risks associated with each payment option. For example, PayPal is listed as a high-risk payment option because of the relative ease of reversing payment on the buyer’s end. Bitcoin sellers are encouraged to only do business with buyers who have excellent reputations, as they are the least likely to unfairly reverse a PayPal payment.

Fast Bitcoin Purchases

Local Bitcoins is one of the more popular methods of purchasing bitcoin, as it allows for much faster transactions than any exchange, and allows users to retain their anonymity and privacy. If that is important to you, then Local Bitcoins may be the place for you to enter into the Bitcoin market.

Disclaimer:  The first link to Local Bitcoins is an affiliate link, and could result in Coin Brief receiving a shared portion of the fees from Local Bitcoins.  This does not increase the cost to you, but if you would prefer to use a direct link, without the affiliate referral, then click here.

Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
99Bitcoins may receive advertising commissions for visits to a suggested operator through our affiliate links, at no added cost to you. All our recommendations follow a thorough review process.
Coinbrief
Coinbrief

Coin Brief is an open source website for digital news. It provides cryptocurrency tools, mining calculators, tutorials, and more. It was acquired by 99Bitcoins on September 2015. Read More

Free Bitcoin Crash Course

Learn everything you need to know about Bitcoin in just 7 days. Daily videos sent straight to your inbox.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service
We hate spam as much as you do. You can unsubscribe with one click.