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Author: Admin | 2025-04-28
The platform. In fact, Local Bitcoins doesn’t handle any of the cash transactions, as all deals are routed directly peer to peer. For sellers, Local Bitcoins takes a 1% fee for every transaction. This fee is added to the amount the seller places in escrow with Local Bitcoins as part of the deal-making process. Some sellers will pass this 1% fee on the buyer in the form of a markup on the Bitcoin exchange rate.Local Bitcoins Security and PrivacyMany traders in the United States and other countries with anti-money laundering laws will require you to send them proof of identity before they’ll agree to a deal. This is part of a practice called Know Your Customer (KYC), and it’s required by law in the United States for traders selling securities. If you want to maintain your anonymity, you can usually find other traders who are willing to execute trades without the identity verification.Overall Review of Local Bitcoins Trading PlatformI hope you enjoyed this Local Bitcoins review and found it helpful. Overall, Local Bitcoins is an established platform, and for the most part, it’s a safe and low-fee way to trade Bitcoin. As long as you exercise good judgment when selecting who to do deals with, Local Bitcoins can be a great platform for all your trading needs. I recommend it as an easy way to get started in Bitcoin investing.[wp-review id=”3449″]
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