LocalBitcoins.com- is completely decentralized service providing the inhabitants of different countries an opportunity to exchange their local currency to bitcoins. The process is as follows.
The site users are provided with an opportunity to publish the announcements on buying-selling bitcoins indicating the exchange rate and proper payment method. The payment is either by online transaction or by cash face to face. Bitcoins are kept directly in the LocalBitcoins.com Internet wallet, respectively, and it allows direct payment for the purchases.
At LocalBitcoins.com all deals are directly between the users. This leads to lack of any mediators, and, for sure, influences on the speed of transactions. This, basically, is the main difference of bitcoin exchange sites from all possible centralized exchanges. In addition, LocalBitcoins.com supports a lot of payment methods that is an unarguable advantage for users. Every transaction is supported by LocalBitcoins.com by providing transaction services and payment deposits (escrow) being an additional protection for the bitcoin buyers.
- The distance between the registration moment and bitcoins receipt is just few minutes.
- LocalBitcoins.com features by a variety of payment methods on the world level.