How to Buy Bitcoin on LocalBitcoins: A Step-by-Step Guide

How to Buy Bitcoin on LocalBitcoins: A Step-by-Step Guide

  • Bitcoin
  • September 9, 2022
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Peer-to-peer (P2P) marketplaces are ideal for buying bitcoin without a centralized or decentralized exchange. Exchanges require some technical knowledge to operate, but P2P marketplaces simplify things.


If that sounds good, it’s time to check out the step-by-step process for buying bitcoin on LocalBitcoins, one of the world’s top P2P crypto marketplaces.


1. Set Up a LocalBitcoins Account and Get Verified

Centralized exchanges also offer platforms for P2P trading of bitcoin, and you can check how to buy bitcoin using Binance P2P if you prefer that. However, just like on Binance, the first step towards buying bitcoin on LocalBitcoins is to set up an account.

Congratulations if you already have one—you can proceed to the next step. Otherwise, follow the steps below to create a LocalBitcoins account.

  1. Visit LocalBitcoins. It is important that you visit the correct website, as phishing attacks abound these days. Note that all the screenshots in this guide carry the address bar so you can see it clearly.

  2. Click Signup in the top-right corner or scroll to the bottom and click on the blue Create account button if you are an individual and not a company. This guide is focused on individual users.

  3. Provide the required details, namely a username, an email address, and a password. As a rule, your password should be easy to remember but difficult for anyone else to guess. It is important that you use a functional email address as you’ll be required to verify it later.

  4. If your password is created correctly according to the instructions, proceed and check the little box below to agree with the LocalBitcoins terms of service and privacy policy. After that, check the I am Human box right under to prove you’re human. Then, check all the boxes that apply in the dropdown, and click the Verify button at the bottom.
  5. Once you click Verify, the Continue button will glow. Select it and move to the next step. On the next page, the first verification page, you’ll get a popup asking if you wish to save your password. Again, this is entirely up to you.
  6. The system will send an email immediately to your registered email address. Go to your mailbox and click on the link in the email to verify that you own it. This is the first verification.
  7. Once you click the link, you’ll be taken back to the confirmation page and see that your email is confirmed. Click the Continue button to proceed. As shown on the page, you’ll need to provide profile information, verify your phone number, provide information about your occupation and PEP, what type of activity you wish to engage in on the platform, and provide ID Verification, and you are done.

2. Search for Offers

After you complete the required verification, the next thing is to search for available offers. To buy bitcoin, you’ll need to search for offers (unless you proceed to create ads as a merchant). Immediately after you log in, you’ll be taken to the Search Offers page by default.

  1. Enter the specs of your trade, including the currency and the payment method you wish to use, and then click Search For Offers.
  2. All available offers that suit your search will be displayed.

  3. You can then go through the available offers, select a seller whose terms you are comfortable with, and click on the Buy button to the far right of the ad. Usually, those with the best offers in terms of price are on top, so the first offer you see is the cheapest, and you may take it if you accept the seller’s terms.

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  4. You will still need to enter the amount you wish to spend in your chosen fiat currency and see the bitcoin equivalent you’ll be given upfront. This is based on the seller’s price, which is usually slightly higher than the official market price.

3. Send Your Funds in Exchange for Bitcoin

Now, If you’re comfortable with the offer, the next thing is to make a payment for the bitcoin. Next, write the information the seller requires, then click on the button to accept the terms and send a trade request.

If the seller is comfortable with you (based on several factors, including reputation), they will accept your trade, and you can finalize the payment. The bitcoin may take a while before it is deposited in your wallet. You can then use it to buy things with bitcoin or hold it as an investment.

Remember to transfer to a more secure personal wallet as soon as you receive the bitcoin, because the LocalBitcoins wallet is not completely safe. Cold wallets are preferable as they are generally more secure than hot wallets.

How much bitcoin you can buy may be limited at first, but it will continue to increase gradually as your reputation improves.

How to Report Issues on LocalBitcoins

There’s usually no issue with trades on LocalBitcoins. However, there may be a misunderstanding concerning the deal in some cases. This may be due to delays from the seller to release the bitcoin you paid for, mainly because they have not received payment—or are trying to be fraudulent.

Luckily, LocalBitcoins has a system for preventing and addressing such issues.

First, the bitcoin you paid for is saved in an escrow account, and the seller has no control over it when you mark the trade as paid. Therefore, you can “Start a Dispute,” and LocalBitcoins will look into it. If it is credible, the locked bitcoin will be released to you.

  1. Go to the trade you have an issue with, and click on Report this advertisement to the right of the page.
  2. Enter the email address you want to use for contact. Your registered email address is added by default. In the message box, write clearly the issues you have with the trade. Include screenshots of conversations and other details you think will help your case, and click the Report ad button at the bottom.

The support team will review the report and get back to you with a resolution or request for more information.

Why Not Give LocalBitcoins a Try?

LocalBitcoins remains one of the most popular P2P bitcoin trading methods. It is fast, secure, and you’ll likely secure a very good price to purchase bitcoin using a wide range of payment options. What’s not to like?

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