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How to Use Local.bitcoin.com to buy and sell bitcoin Cash

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Avatar for BitcoinCash247
Written by   103
3 months ago

As Crypto Currencies continue to earn their ways into real time usage, people get more interested on how to earn them and also buy them. In as much as this trends increases, scammers are carefully seizing the opportunity to scam majority of persons that happens to fall into their traps. So bad isn't it?

If you're such a person who is interested in buying a crypto currency such as Bitcoin Cash, local.bitcoin.com is one of the legit platforms to buy and also sell bitcoin Cash. This article will expose you to practical ways on how to make use of local.bitcoin.com to buy and sell Bitcoin Cash without the fear of getting scammed.

What's Local.bitcoin.com?

A Market place, yes, local.bitcoin.com is a market place where anyone from any location can trade bitcoin Cash for local currencies like the US Dollars, Nigerian Naira, Canadian Dollars etc. Unlike the normal market place that requires the presence of the both parties, local.bitcoin.com performs trade online without the presence of any party.

Read Also: 5 Ways To Earn Bitcoin Cash For Free

Advantages of Using Local.bitcoin.com

  • Non-custodial

Local.bitcoin.com is a non custodial platform and doesn't take custody of your coins during trade. That means you can withdraw your coins at any point in time.

  • Fast and Secured

Bitcoin Cash itself transacts fast. Trading bitcoin Cash on local.bitcoin.com is fast as well because transactions take place on bitcoin Cash BlockChain. Also, all trades can be carried out with total confidence as it is protected by an encrypted blind escrow.

  • Private

You don't need a third party person to effect your trade. It can be done at your convenience. You own ultimate access to your keys at all times.

  • Decentralized

Local.bitcoin.com is decentralized, Trader A can sell from England to Trader B that stays in Dubai within seconds.

  • Supports Any Payment Method

Unlike other market places with limited methods for payment, local.bitcoin.com offers all the available payment methods so that anyone can perform a trade without difficulties.

Understanding the Term Blind Escrow

Noticed that we had to include the blind escrow using an italic font? That is because you may not have been familiar with the word and what it means.

An escrow in a normal sense is usually a third party that stands between two traders, holds money or an asset on behalf of the other two parties in a transaction but a Blind Escrow in terms of local.bitcoin.com isn't a person but a secured code written in such a way that it holds a coin awaiting payment by the buyer.

How Local.bitcoin.com Works

First, you'll need to get registered to local.bitcoin.com, don't get scared, it's registration process is simple and doesn't require any KYC.

After that, view the buy and sell listings. That's where you'll find Persons who are offering to sell their Bitcoin Cash and likewise those who are looking for sellers to buy from. You can get Custom results to suit your location, payment method.

Found a suitable trader? Start the trading process. Open a trade with an existing buyer or seller if you’ve found a listing that suits your budget. If you wish to sell yours, create your own and publish it to the platform for other traders to see.

Get to complete the trade. If you’re buying, send payment directly to the seller; if you’re selling, send Bitcoin Cash to the blind escrow on the local.bitcoin.com platform. Once payment is received by the seller, the BCH gets released to the buyer and trade's completed.

In addition, local.bitcoin.com offers a referral program where anyone can actually earn by referring one to trade on the platform. Whenever someone signs up using your unique link, you get to earn 20% of fees incurred by their trades throughout the lifetime of their account. Note also that affiliate payments are made at the end of the month.

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Written by   103
3 months ago
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Comments

thanks for this article, very informative.

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