localbitcoins product introduction – Blockchain Product Encyclopedia - Blockchain ABC Blog

localbitcoins product introduction – Blockchain Product Encyclopedia

At LocalBitcoins, people from different countries/regions can exchange their national currencies for bitcoins. The site allows users to create ads in which they can choose payment methods and exchange rates in order to buy and sell with other LocalBitcoins users. By replying to these ads, a trade chat window can be opened and escrow protection automatically activated. Escrow protects both buyers and sellers by keeping bitcoins safe until payment is completed and the seller releases bitcoins to the buyer. LocalBitcoins also provides a web wallet from which you can send and receive bitcoin transactions.

LocalBitcoins is peer-to-peer and close to the essence of Bitcoin.

On LocalBitcoins, you are dealing with other individuals, and unlike stock-like exchanges and centralized bitcoin trading sites, LocalBitcoins allows you to trade directly with other people. This makes the process customizable, streamlined and fast, as there is no corporate overhead. You can get instant access to bitcoins. LocalBitcoins aims to support every suitable payment method supported by its user community. For each transaction, LocalBitcoins offers escrow protection to ensure the safety of the bitcoin and both traders.