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Is selling/trading cryptocurrencies on LocalBitcoin safe
12-05-2016, 01:26 PM
Post: #1
Is selling/trading cryptocurrencies on LocalBitcoin safe
I want to start selling or trading cryptocurrencies on localbitcoin since I can buy BTC for pretty much 1:1.
I have a couple of questions before I start, however.

- Do people chargeback often?
- How much BTC is sold/bought from there daily?
- Is it profitable?
- Why do sellers place limits on how much btc people can buy off them?
- Can you explain the sales process? Is it automatic?

Thanks!
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12-05-2016, 02:37 PM
Post: #2
RE: Is selling/trading cryptocurrencies on LocalBitcoin safe
Not sure about Localbitcoin but as for your questions I can give pretty decent answers.

1. If you accept Paypal for Bitcoin they may chargeback it is just all dependent on the person
2. There doesn't seem to be a tally for how much Bitcoin is traded daily on there but searching on the forum may lead you to completed sales or feedback which you can use to get an average trade number.
3. Anything can be profitable if you have a method of getting Bitcoin cheaper than you can trade it for.
4. Placing limits on how much Bitcoin they are selling may be for the fact that they only sell what they can afford to cover if something were to go wrong.
5. It looks like some are and some aren't it probably depends on the payment skills.
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