Posted on 08/11/24 04:15 am
LocalBitcoins Exchange allows users worldwide to conduct peer-to-peer transactions, exchanging local currency for Bitcoin (BTC). Unlike other platforms, it enables direct trading between individuals, letting them negotiate terms and payment methods. With over 1 million active users and a trading volume exceeding $600 million, LocalBitcoins is particularly popular in regions with limited banking infrastructure. Based in Finland, this platform offers unique features for users looking for a flexible trading experience.
LocalBitcoins Exchange Overview
Launched in 2012, LocalBitcoins was founded with the vision of connecting people globally to the Internet economy. Its goal is to empower individuals and communities in underserved regions to trade Bitcoin without borders or restrictions, thus fostering financial freedom and opportunity.
LocalBitcoins provides an easy-to-use interface where users can find peer-to-peer offers to exchange local currencies for Bitcoin at a rate set by the offer maker. Supporting a wide range of national currencies and payment methods, the platform offers numerous options for clients.
When a user accepts an offer, a chat room opens for the transaction details. Users can view the reputation scores of traders and exchange messages, files, and images in the chat. The platform’s escrow system securely holds the Bitcoin until the transaction is completed, ensuring the safety of both parties.
All Bitcoins from trades are stored in a secure LocalBitcoins wallet. Users can choose to keep their funds there or transfer BTC to another wallet. To protect users, the system includes advanced encryption, alerts, two-factor authentication, and multiple security measures.
A small fee covers transaction processing, server maintenance, and security. The platform can be accessed on PCs through their website, which includes links to social media profiles, blog pages, support contacts, FAQs, and registration tutorials.
What is LocalBitcoins Registration?
With users from all over the world, LocalBitcoins implements robust security measures for transactions and sign-ups. Although the sign-up process includes multiple steps and can take a few minutes, it’s designed to ensure user safety.
Here’s a Step-by-Step Guide:
Account Verification Steps
To verify a LocalBitcoins account, follow these three steps:
Adding a phone number enhances security and helps identify users who might violate terms of service or engage in prohibited activities on LocalBitcoins. This data also prevents the creation of duplicate or fake accounts. The service is available in most countries, but verifying if your information is accepted is always wise.
Using disposable data for verification doesn’t affect your experience on LocalBitcoins. While obtaining an alternate email is easy, acquiring a virtual mobile number for verification offers additional security. Virtual numbers can receive SMS from LocalBitcoins, providing a secure option for account registration.
How to Verify a LocalBitcoins Account Using Virtual Numbers
Virtual numbers are Internet-based numbers that operate without a SIM card. They don’t require personal information, keeping them free from government regulation.
These virtual numbers are ideal for anonymous registration, providing a safe and convenient solution without personal data. Here’s how to use a virtual number for LocalBitcoins registration: