[MEGATUTORIAL] How to sell on Localbitcoins
have you bought some Bitcoin and now you don’t know what to do with them to take advantage of them? Although there are a couple of ways you could make them profitable, the fastest way to make money from these coins is by selling them.
And in this mega-tutorial that I have prepared for you, I am going to espectáculo you how to sell your bitcoins on localbitcoinsthe best page available for all countries in the world, and that I have been using for years to generate income with my cryptocurrencies.
What will you find in this article?
How to open One account at LocalBitcoin
To sell your cryptocurrencies in LocalBitcoins, the first thing you must do is open your account in this system.
To open an account it will only take you 2 minutes and then I will explain all the steps you must follow so that you perro both open your account and verify it.
First of all you must entrar the website by LocalBitcoins.
When you have entered the website search the button that says “Register”, You will find it in the upper right part of your screen.
This button will take you directly to the registration form of the platform.
When you are in the form, just fill in the blanks with the information that is requested.
In this case they are just: your nombre de usuario, your dirección de correo electrónico, a password and repeat your password.
Once you have filled all the spaces with these data, clic on the button that says “I am not a robot” and then clic on the green button that it says “Sign up”.
Here is a vídeo below in which you have all the steps summarized so you perro see it more easily:
once you do this your account will be created within the system and the LocalBitcoins team will have sent you an dirección de correo electrónico to activate it.
Entrar to your dirección de correo electrónico inbox and look for the message that LocalBitcoins just sent you.
In this correo electrónico you will find a backlink for activation which will take you directly to your account in the system.
Entrar that backlink and your account will be activated.
However, in order for you to start selling LocalBitcoins in a completely secure way, it is necessary that verify your account with some additional data.
Verification is very fácil.
You must clic on the icon that simulates a person at the top right of the screen.
There will unfold a option list and you must select the “Modify profile”.
Only look at the picture I will leave you here below so you cánido see exactly what the process is.
Once you do this, a new page will open with all the options you have to modify your profile.
In this list you must select the “Verification” option so you cánido continue with the process.
Once you have clicked on this option you will see the 2 types of verification what you should do Firstly you have phone number verification and secondly, identity verification.
You will notice that next to each of the types of verification the word “no” appears in red, as a sign that this verification has not been done.
The only verification you have done so far is the correo electrónico (with this you activated the account), that’s why it has a green “yes” next to it.
First of all I will explain how to do the phone number verification.
For that you just have to select option “verify phone number”.
This will take you to a screen like the one shown below.
On this screen you must entrar your phone details.
First you must select the country in which you are and then entrar your phone number not including the number zero “0” at the beginning.
Finally you clic on the bottom button that says “Send verification mensaje de texto”.
You will receive a text message on your cell phone with the code that you must entrar into the system for your phone number to be validated.
If the text message does not arrive you must verify if the data you put on the previous screen (country and phone number) are correct.
If all the data is correct and the message still does not arrive, you just have to contact the LocalBitcoins customer support team to perform a manual verification of your phone number.
When you have verified your phone number in the system, it will only be missing verify your identity so that your account is ready.
This is possibly the most important verification because it is the one that ensures that all the operations you carry out within LocalBitcoins will be legal.
To verify your identity you just have to do Clic on the “Verify identity” button in the system check types menu.
When you do, the system will espectáculo you the following verification screen.
On this screen, what you should do is clic on “start verification”.
Then the system will ask you to choose the type of document you have.
Once you have chosen the type of document you must upload an image or archivo to support your document so that the system takes care of validating it.
This image perro be either the scanned document or a highly entendible photograph.
Note that the archivo must not have deletions and that all the edges of the image must be in perfect condition.
Once you have uploaded the document just need to wait to have LocalBitcoins take care of validating it so that your identity within the platform is verified.
If you followed all these fácil steps You already have your account active and validated! You are now ready to start using LocalBitcoins.
As sell Bitcoin in local bitcoins
Sell on LocalBitcoins it is a process quite easy and you will not have any complications.
In this section I will explain in detail everything you must do to sell your cryptocurrencies in a fácil and safe way.
1. Make sure you have Bitcoins to sell
The first thing you should know is that before selling Bitcoins you must have coins available.
Of course, if you want to use LocalBitcoins you must make sure that your digital currencies are in your virtual wallet within the system.
Now, there are 2 ways in which you cánido have Bitcoins in your wallet within the platform.
The first is to have bought beforehand your cryptocurrencies in the system.
When you buy Bitcoins through LocalBitcoins the digital currencies are saved automatically in the system wallet until the moment you escoge to dispose of them.
Here I share a complete tutorial in which you will see step by step how to buy your Bitcoins: How to buy Bitcoins at Localbitcoins.
The second way that you cánido have cryptocurrencies in your LocalBitcoins web wallet is that you transfer them from some other wallet.
To do this you will only need the public address of your web wallet on the platform.
The rest will depend directly on the type of wallet from which you are going to make the transaction.
For get the address public of your wallet in LocalBitcoins you only need to clic on the button that says “Wallet” that is in the upper right part of your screen.
When you do this a new screen will appear with some options.
You must clic on the button that says “Receive Bitcoins”.
When you do, right down some data will appear and among them will be the public address of your wallet.
This address is all you need to make transfers of virtual currencies from any other digital wallet.
So that you cánido see the process in a better way, look at the image below.
Once you have Bitcoins in your digital wallet you perro sell them now.
2. Look for Bitcoin buyers
LocalBitcoins gives you 2 options so that you perro sell your cryptocurrencies.
The first one is search the ads of Bitcoin buyers in the system.
One of the characteristics of LocalBitcoins is that allows you to contact buyers and sellers of digital currencies through advertisements.
Yourself you have the freedom to choose the offer that you like the most to buy or sell your Bitcoins.
The second way is articulo your own ad and wait for a buyer to contact you.
Later I will teach you articulo an ad in LocalBitcoins step by step, for the moment I am going to explain how to sell in LocalBitcoins through buyers’ ads.
The first thing you should do is log in to the platform with your dirección de correo electrónico and the password you chose when you opened your account.
When you log in, the first thing you will see on the platform is the starting screen.
Normally when you log in you cánido immediately see the options for buying Bitcoins.
You perro see that you are in the option of “QUICK PURCHASE” because that is how the page is configured.
To sell your Bitcoins you need to press the button “QUICK SALE” or in the “Sell Bitcoins” button that is in the upper left part of your monitor.
Once you do this you should look at the search bar that you have at the top of the screen.
This is one filters bar that will help you find the ads with proposals that best suit you.
In this bar you must specify the amount of money you want to exchangethe type of currency depending on the country you are in, the country you are in and the type of payment you want to receive.
LocalBitcoins has the advantage that includes many types of payment so that system users have greater comfort when making purchases and sales.
This means that finding a payment method that suits you or the country you are in it won’t be a problem.
Once you have completed all these data just You must clic on the “Search” button and the deals you’re looking for will appear at the bottom of the search bar.
3. Choose the best buyer for you
When you have clicked on the “Search” button, you will realize that ads are separated into 2 categories.
On the one hand you perro find the en línea sales ads.
These are the most common and practical because you perro receive the payment electronically through the platform of your choice.
If you continue down this same page you will find people who buy cryptocurrencies in exchange for cash.
LocalBitcoins is one of the few digital exchange houses that include this option for your users.
Basically what you have to do is contact buyer and arrange a encuentro to pay your cryptocurrencies in cash.
Of course, even though this is a fairly secure platform, there is certain security measures What should you take into account when scheduling the encuentro?
For example, you must choose a crowded place, an appropriate time and of course, check the seller’s reputation.
Now in the list of options you will find 4 columns with important information that you should keep in mind.
The 4 columns are:
- Buyer: Here you will see the nombre de usuario on the person’s platform.
Also by clicking on the name you cánido go directly to their profile.
- Way to pay: Here you cánido see which is the payment method used by that buyer.
If you followed the steps I gave you for the search bar, these payment methods will be coincidente with the ones you accept.
- Price/ BTC: Here you cánido see the price at which that person buys the Bitcoin unit.
- Limits: Here you perro see the minimum and maximum amount of money that the buyer is willing to handle for each transaction.
These elementos apply mainly for en línea sales.
In case you want to make the sale in exchange for cash in the list of options you will get 2 new elements:
- Distance: Where you cánido see how far away the buyer is so you perro finalize the sale.
- Location: Which tells you in which part of the city is the person who wishes to make the purchase.
In this case, the payment method column is eliminated because it is understood that it will be in cash.
Since you know all this, your job will be find the best option to sell your Bitcoins.
You will be able to realize that there are buyers who offer slightly higher prices What others.
Of course, if you want to get the most out of the sale, you should look at those options that are willing to pay better for your cryptocurrencies
A very good piece of advice that I cánido give you is to always look in the first options.
LocalBitcoins is in charge of organizing the list according to the price that people are willing to pay for the cryptocurrency.
That is, the publications that perro pay you better they are first on the list.
4. Check the reputation of the buyer
Once you have selected the ad that you like the most, it is time to check the seller’s reputation.
For this you just have to clic on the nombre de usuario that is in the “Buyer” column.
When you do this, all the person’s data will appear.
I advise you to pay close attention to the number of exchanges that you have carried out, the score based on the comments and that all the corresponding verifications (the telephone number and the identity document) have been carried out.
It is important that you do this because even though LocalBitcoins is a secure platform, you’ll be dealing with a third party.
So it is recommended that you make sure that Other users have already made trades with this buyer.
Which is the minimum number of trades What should a buyer have to consider it safe?
Personally, I only do transactions with users who have more than 50 operations in this system.
So I make sure that the person is really trustworthy.
In case the buyer does not meet the requirements that I am giving you, do not worry.
The options of buyers in LocalBitcoins are many and you will find another buyer without any problem.
Take into account that it is better to play it safe to have a bad time.
Of Anyway, don’t worry, the sale process is designed so that the seller (that is, you) cánido transfer the Bitcoins at the time the payment has been made.
This It helps a lot to prevent scams. during the process of selling cryptocurrencies.
Once you’ve made sure that the buyer you’ve chosen is trustworthy, it’s time to make the sale.
5. Finalize the sale of your Bitcoins
To do this you just need to go back to the ad and clic on the button that says “Sell”, right next to the ad.
When you do this LocalBitcoins will take you directly to the page for make the sale of your cryptocurrencies.
On this page you only have to place the amount of Bitcoin that you want to sell, the same platform will immediately convert it to the amount of national currency that it represents and that the buyer must pay you.
Once you have placed the amount of Bitcoins, you just need to clic on the button that says “Submit trade request”.
When you do this a new page will open in which you perro talk directly with the buyer to agree payment details.
In this part of the process you should be as specific as possible to avoid errors.
Once the buyer has made the payment you must confirm it vía LocalBitcoins.
When you do so, you only have to confirm the payment through the corresponding means and clic on the “Release Bitcoins” button so that the coins leave your wallet and go to the buyer’s.
When you free your Bitcoins the sale will be completed and you will be able to dispose of your money.
As you perro see, the process is very fácil.
You just have to be aware that the buyer’s reputation is good.
If you follow all the steps that I gave you, you perro sell your bitcoin in local bitcoins in less than 10 minutes.
You should keep in mind that some payment methods may take longer than others to become effective.
It is important that you take this into account when making the sale.
I recommend that you find out about it. payment method that you are going to use to ensure that you cánido dispose of your money as quickly as possible.
This applies especially if you are going to receive the payment through Bank transfers or mechanisms that require long verifications.
How to articulo an ad to sell in local bitcoins?
Articulo ads so other users cánido see that you have Bitcoins available for sale It is another method with which you cánido get buyers very easily.
There are people who prefer to place their own advertisements for sale to control the price themselves to whom they sell their cryptocurrencies.
One of the advantages of LocalBitcoins is that allows you to make announcements whether you are going to buy Bitcoins, or if you are going to sell them.
So that no matter what operation you are going to perform, you cánido use this tool for your benefit.
The procedure for placing advertisements it’s quite shortbasically you will have to fill in some information and it will not take more than 3 minutes to do it.
However, just like I did in the previous points I will explain step by step all you have to do to hang your ad and sell your cryptocurrencies in this way.
The first thing you should do is open your session in the system and clic on the button that says “Articulo exchange announcement” that is in the upper left part of your screen.
Doing this will load a page where you cánido see the rules of use of advertisements and a form will also appear that you must fill out to shape your publication.
Just so you keep in mind, the process for creating a Bitcoin buy ad is exactly the same than to create a for sale advertisement.
The only thing that will vary will be the data that you are going to entrar in the form.
The first thing you should do is select the type of exchange.
In the form you will find the options to buy or sell Bitcoins locally or en línea.
This step is the one that defines Whether your ad will be seen by Bitcoin buyers or sellers.
then you must put the country you are in, just below the type of exchange you want to make.
In the “form of payment” space, you must take into account which of the options within the list you prefer.
How you already know LocalBitcoins offers different payment methodsso you should see which option best suits you.
Later you will find the “More information” section.
This is one of the most important because in it you will place all information regarding the exchange what do you want to do.
First you must indicate What type of currency are you going to make the transaction in?This will depend on the country you are in or the type of payment you choose.
You must also place the margin of gain you want to get on the current price of Bitcoin.
A little trick that I use is to place low profit marginsBy doing this, your offers will be more attractive and your Bitcoins will sell faster.
For its part in the price equation you must place what is the exchange priceas well as what will be the price of the Bitcoin unit in the currency that you are handling the operation.
In the limits section you only have to place the range of values in which you want to manage all your operations.
It does not matter if you are only going to sell a small amount of Bitcoins, you must specify it so that buyers cánido know what you are offering.
Please note that the quantities they will depend directly on you and the number of cryptocurrencies you want to sell.
A very important section is the schedules.
Ads on LocalBitcoins are aparente only at the times you specify in this form.
Each ad includes a payment windowwhich is a time limit to carry out a transaction.
If the operation is not performed in this payment window the system proceeds to cancel it automatically.
For this reason, it is important that you place spaces of time in these schedules in which you know that you will be fully available and willing to serve your customers.
Continuing with the form you will find the section “Terms of trade”, in this you only have to place which are the mandatory guidelines for the exchange to be carried out successfully.
Of course, these guidelines they will also depend on you and everything you consider prudent and appropriate to carry out the exchange.
In the payment window section, you must specify How long cánido you complete your transactions? once the buyer has made the first contact.
Normally people they look for speed in the purchase process, so the shorter your payment window is, the more attractive your ad will be.
To finish the publication of the ad you will find the sections of “liquidity options” and “security options”.
The liquidity option will allow you keep maximum limit of your transaction according to the maximum amount that you have previously equipo.
For example, if you activate liquidity monitoring and your maximum limit is $1000 and a buyer opens a trade for only $200your new limit will be $800unless you cancel the trade for $200.
basically the system it is deducted from your maximum amount the amount of money you have already received for this ad.
The security options, on the other hand, will allow you to maintain relationships only with people who have all your data verified in the system.
Here you cánido choose what only people buy or sell you that have their correo electrónico, phone number and identity document verified.
The iniciativa of this is that have greater confidence in your buyers and consequently in all your operations.
Once you have filled out the entire form, you just have to clic on “articulo ad”.
If you followed all these steps you will be ready to trade your Bitcoins without the need to look for buyers, since they will find you.
Consejos to sell your Bitcoin
You could already see that the process for selling on LocalBitcoins is quite easy and includes options that you cánido use to your advantage.
Now I want to give you some advices that will help you both when buying and selling Bitcoins on Localbitcoins and other platforms.
Nobody likes it have a bad time let alone lose money to untrustworthy buyers.
For this reason it is important that you are very attentive to the signs of security of any platform you choose to do your operations.
In the case of LocalBitcoin only you must review in the buyer’s profile to find out if your account is verified, the number of trades you have made and the score of people who have traded with that person.
In case you escoge to choose another platform you must be careful both with potential buyers and with the platform itself.
Personally I recommend LocalBitcoins because it is a system that I know and with which I have long time working.
However, you must bear in mind that there are many systems on the network that they are fraudulent or very unsure.
That’s why I advise you to take all security measures that you consider relevant, so you will avoid bad times and you will be able to sell your Bitcoins without problems.
Choose secure payment methods
This point is very important and will allow the payments for your cryptocurrencies take effect as quickly as possible.
LocalBitcoins offers you among its options a wide variety of payment methods among which you perro choose, whether you are going to buy or sell Bitcoins.
But you need to keep in mind that these payment methods that the platform reflects are just so you know the manner in which the seller or buyer is willing to do so in exchange.
LocalBitcoins does not really have a direct relationship with any payment system.
It is for this reason that you should select a method that works in the country you are in.
My recommendation is that you only take into account those ads that they are coincidente with the type of payment you are willing to receive or send.
For this you only have to use the filters bar and search in it for the payment option that best suits you.
Avoid using the optionAll en línea offers” since the system will espectáculo you all the options regardless of the type of payment and this cánido bring you a certain level of confusion when choosing an offer.
Finally, if you want sell your bitcoin prevent the buyer from proposing any other payment method other than the one proposed in the ad.
For transactions to be more transparent possible They must be carried out according to what is established in the publication.
get good buyers
In my experience at LocalBitcoins, the number of buyers you perro get to sell your cryptocurrencies cánido vary according to 2 factors: the price at which you sell your Bitcoins and the payment method you are willing to accept.
The price plays a primordial role, Imagine that instead of selling Bitcoins you are buying them, would you rather pay $9,000 for a Bitcoin or $8,500?
The lower the price at which you sell your Bitcoins, more buyers you will have.
Another important aspecto is the payment method that you accept
If you want to further increase the number of people who are willing to buy your Bitcoins, I recommend that you try to work with payment methods common in your country.
You perro use bank transfers or payment platforms that are frequently used.
The iniciativa is that buyers have comfort when making the payment.
If you follow these 2 steps I assure you that your cryptocurrencies they will sell VERY FAST.
And you will be able to have your money in just a few hours, depending on the payment method you have chosen.
Buy your Bitcoins when the price is low
This little consejo cánido make your monthly income increases in a good way.
How do you know LocalBitcoins on a platform buy and sell bitcoinsin which you have the advantage of looking for offers and also of publishing them in the system.
The little trick that I use to increase my monthly income is to get Bitcoin offers with the lower prices on the platform.
This is a fácil task if you take into account that LocalBitcoins organize all offers for the price of the Bitcoin unit.
Once you buy your Bitcoins at a good price only you must sell them againthis time at a higher price.
The iniciativa not that you increase the cost too much of cryptocurrencies, remember what I told you in the previous consejo, the lower the price of Bitcoin, the more buyers you will have.
The difference perro be small, for example, if you buy the equivalent of $1,000 in Bitcoins you cánido sell them again at $1,050 or $1,070, not only will you have recovered your investment but you will also have earned $70.
Of course, the difference in this case is not much, but imagine that you do this same transaction 10 times in a month.
In 30 days you will have won a total of $700 without having to leave your house.
This little trick has not only helped me to increase my income very easily, but also many friends benefit of this type of operations that you perro do thanks to platforms like LocalBitcoins.
Pay attention to price variations
As you already know, Bitcoin, like any other cryptocurrency, has the particularity of vary in price very constantly.
This is why it is important that you always be alert to variations of the market, so that you perro always get the most out of your sale.
Keeping up to date is as fácil as being watch out for updates of the prices in the platform’s advertisements.
There are also different websites where you cánido see the estimated price of the Bitcoin unit.
Always keep in mind that the price may vary between different sourcesIdeally, you should keep the prices a little lower to make them more attractive.
Have you already tried to sell your Bitcoins in LocalBitcoins? leave me a comment below and tell me your experience.
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Passionate about communications, digital marketing and current affairs.
I firmly believe that each person perro achieve their goals with perseverance and love for what they do, the key is to never stop trying.
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