Bitcoin is a thriving cryptocurrency that is changing the traditional way of making payments. Cryptocurrencies like Bitcoin, Litecoin, Ethereum etc, allow you perform financial transactions without a third party like bank. This way anyone can transfer fund with reasonable transaction charges. In my recent posts I’ve shown you how to buy bitcoin in India through Unocoin bitcoin wallet and Zebpay bitcoin wallet. And today I’ll be showing you how to buy bitcoin from LocalBitcoins. LocalBitcoins is an international bitcoin exchange that provides a global bitcoin trading platform (it allows bitcoin trading in 248 countries including India).
Localbitcoins.com is official website of LocalBitcoins that allows individuals to post advertisements on its website to sell bitcoin or buy bitcoin. It’s a very user-friendly website for bitcoin trading. To start bitcoin trading on localbitcoins.com, you’ll need to create an account. Once you do that then you’re ready to start bitcoin trading.
How to buy bitcoin from LocalBitcoins –
Visit localbitcoins.com homepage and click on “Sign up free” link. (Click on the link to reach localbitcoins.com)
On the next page a form will appear on your computer screen. You will need to enter a username for your account (like you set on your FB or twitter profile). Next enter a valid email address. Subsequently enter a password for your localbitcoins.com account and then click on checkbox next to “I’m not a robot.” Once you fill up the form, click on “Register” button.
In the next step you’ll need to verify your email address. For that purpose, get access to your email inbox and look for localbitcoins.com email. You’ll find a confirmation link. Simply click on that link to verify your bitcoin wallet account.
Congratulations! We’ve successfully created bitcoin account on LocalBitcoins.com. Now you can buy bitcoin from LocalBitcoins. Before buying bitcoin from LocalBitcoins, I suggest you complete your profile and verify your identity first. This way you can secure your bitcoin wallet account. To edit your profile information, from the top right corner click on profile icon then click on edit profile.
First of all click on “Verify phone number” and enter your phone number. You will need to enter one time password (OTP) to verify your mobile number.
Next click on “set real name” and enter your full name.
Now click on “Verification” (see edit profile screenshot) link and then scroll down and click on “Verify identity”.
In the next step click on “Start ID Verification” and the choose an option like Passport, Identity Card, or Driver’s License. Thereafter upload JPEG or PNG file of your identity proof.
That’s it. Now we’re ready to buy bitcoin from LocalBitcoins.
Go to LocalBitcoins.com homepage and select your country. Thereafter hit search button. You’ll be able to see a list of bitcoin sellers in your country. Choose a seller from whom you want to buy bitcoin and then click on buy link.
Here I’m going to buy bitcoin from above seller. I’ve opted this bitcoin seller because he’s been trusted by more than 100+ people (see highlighted area on screenshot). Now to buy bitcoin from LocalBitcoins, I’ve to click on “Buy” button.
In the next step enter the amount in the box and press “Send trade request” button.
On the next page you’ll be able to see seller’s bank account details and you will also receive the details through an email. Note down the details and transfer fund from your bank account to seller’s bank account. Before sending money, you can call to bitcoin seller; if you’ve any issue. After transferring amount to seller’s bank account, click on “I have paid” button.
That’s it. Your bitcoin/portion of bitcoin will be credited to your Localbitcoins.com account. Also read how to sell bitcoins on LocalBitcoins.com.
Disclaimer: This post is for information purpose only. Don’t take this information as an investment suggestion. As you know cryptocurrencies are highly volatile therefore invest in them on your own risk.