In my recent posts, I’ve shown you how to buy bitcoins from LocalBitcoins.com, Unocoin, and Zebpay. In this tutorial I’ll be showing you how to sell bitcoins on LocalBitcoins.com. LocalBitcoins is a renowned international bitcoin exchange that allows individuals to buy and sell bitcoins easily. You can also send bitcoins to other bitcoin address from your LocalBitcoins wallet. You can read this article how to send bitcoin from LocalBitcoins.com to Coinbase, Zebpay, Unocoin or any other bitcoin address. Also, one thing that I observed here is that on LocalBitcoins.com bitcoin selling price is very low as compared to other bitcoin exchanges. Let alone. All bitcoin users have been facing this problem. So let’s get to the point, read on to know how to sell bitcoins on Localbitcoins.com.
How to Sell Bitcoins on LocalBitcoins.com Step by step –
First of all get access to your LocalBitcoins.com bitcoin wallet account and then from the navigation menu, click on ‘Sell bitcoins’ link.
Now select you currency, country, and preferred payment method (through which you want to receive money). Subsequently, hit Search button.
Upon hitting the search button, you’ll be able to see all users who can buy bitcoins from you. Simply select a user to sell bitcoin. Here is a tip to select a reputed bitcoin buyer for hassle-free trading: see buyer’s total transactions and overall rating (see screenshot above). See whether buyer’s buying limits are within your range or not for example in the above screenshot buyer at the top can buy bitcoins from Rs. 10,000 to Rs. 1,020,00 which means this buyer does not accept bitcoins less than Rs. 10,000 and more than Rs. 1,020,000.
Once you decide to whom you want to sell bitcoins on LocalBitcoins.com then click on ‘Sell’ button.
Now, scroll down and enter amount of bitcoin(s)/portion of bitcoin that you want to sell. Thereafter, provide your bank account details or digital wallet details (depends upon your payment method) as asked by buyer for example in above screenshot buyer needs my name, bank account number, IFSC code, and bank name to transfer funds. In the same way provide details to the buyer. After typing payment details, press ‘Send trade request’ button.
That’s it. We’ve successfully sold out our bitcoins on LocalBitcoins.com.
Now buyer has 60 minutes to complete the bitcoin trading. If he/she fails to pay within the time limit then your bitcoins will automatically come back to your LocalBitcoins wallet.
Also, send another message to buyer that, “you would like to sell bitcoins/portion of bitcoin and you’ve initiated a bitcoin trade process. If you’ve any query then I’m online to answer.” Sometimes buyer needs further account or contact details to transfer fund therefore you’d be online.
Note: Don’t worry! Your trade is secure. As mentioned above, if buyer fails to transfer fund within 60 minutes then the trade will automatically get cancelled and your bitcoins will come back to your LocalBitcoins wallet.