Here's how to get started being a trader on local.bitcoin.com without being scared of loosing money to scammers or crypto theft.
First, I'd want you to know that the dreams in your head can be visualized by thoughts and brought to reality by actions, On local.bitcoin.com you can get started being a BCH trader with as Low as 1$.
Here's what Local.bitcoin.com is all about,
Just like every other trading platform where one buys and sells his assets, Local.bitcoin.com is designed to link you up with others who are interested in buying or selling Bitcoin Cash (BCH), (exchanging of a local currency for BCH) via a blind Escrow Smart contract.
How to Get Started
One would ask if trading on local.bitcoin.com requires a level of professionalism, well! On local.bitcoin.com one can make gains as long as you can buy when it's cheaper and sell when is costly.
For Example: A trader buys 1 BCH at $264 and sells it at 274$, he makes gain of $10.
All you need to do in order to get started is;
Create an Account: First and foremost, you will have to visit local.bitcoin.com using your web browser. Creating an account would require a Username, password and your email address.
Browse Listings: Here's where the trade occurs, Once you have created an account on the platform, you will want to proceed to either, buy or Sell BCH.
Understanding Terms in Local.Bitcoin.com
These are the terms you will likely get across while trading on Local Bitcoin.com
Escrow
An Escrow is simply a third party that handles a transaction.
Blind Escrow
On local.bitcoin.com, while buying or selling a pair, a seller loads the BCH into an escrow in anticipation for the agreed payment by the buyer, This BCH is only released to the buyer once payment is being made.
How Secured Is Local.bitcoin.com
Everyone needs security to be sure every investments is safe, due to this, local.bitcoin.com has ensured that several security measures have been set in place. They include;
End to End Message encryption
Messages between a buyer and a seller on the platform are encrypted in such a way that only you the buyer and the seller can access this messages
Identify Verification
Forward secrecy
Simple dispute resolution
How To Buy And Sell BCH on Local.Bitcoin.Com
Local.bitcoin.com is a trading platform built for transacting BCH, although you can still earn some more through referrals but the Major purpose is buying and selling BCH.
After creating an account on the platform, proceed to browse Listings.
Choose either to buy or sell BCH
Include your payment option from the vast options provided by local.bitcoin.com
Choose your preferred location
Traders matching your options will be displayed
Proceed to Buy or Sell BCH
Note: The ability to Sell when the price is High and Buy when the price is low will earn you more profits.
Are There Fees Attached To Trading On Local.Bitcoin.Com?
Trading on local.bitcoin.com charges a 0.25% fee for the maker (the person who placed the offer listing) and 0.75% for the taker (the person responding to the offer).
