- Private, fast, and easy
- No personal information required
- Need to watch for scams
- Hard to buy large amounts of bitcoin
LocalBitcoins is a P2P Bitcoin exchange. Buyers and sellers agree on trade terms, and LocalBitcoins is used as escrow.
The average buy price on LocalBitcoins is usually 5-10% higher than the average global rate.
The difference between Local Bitcoins and most exchanges is that LocalBitcoinsdoes not require personal information when making trades. Unlike other exchanges, which require ID verification and personal information, Local Bitcoins allows you to buy bitcoin without connecting your name to the bitcoin you’re buying. The 5-10% premium is simply the cost people are willing to pay for privacy when buying bitcoins.
- Payment Methods Accepted
- Supported Countries
- Privacy
- Limits & Liquidity
- Speed
- Reputation
- Fees
- Customer Support
Payment Methods Accepted
LocalBitcoins users are free to accept any payment methods. The payment methods available to buyers will depend on what’s available in your area.
Supported Countries
LocalBitcoins is available in nearly every country. Liquidity will depend on the amount of buyers and sellers in your area. LocalBitcoins is not available in Germany or the state of New York.
Privacy
LocalBitcoins is private and does not require I.D. verification or any personal information besides and email address to signup. While LocalBitcoins itself does not require personal details, some buyers or sellers may request identification before making a trade.
Limits & Liquidity
There are no limits, but it may be hard to buy large amounts of bitcoin.
Speed
The speed at which your bitcoins are available will depend on payment method.
Reputation
LocalBitcoins was one of the first P2P Bitcoin exchanges, and the largest one today.
Fees
LocalBitcoins charges a flat 1% fee on all trades.
Customer Support
LocalBitcoins offers support via email.
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VirWox
How to Exchange:
How do I buy OM¢?
In order to buy OM¢ for real-world money (EUR, USD), please follow these steps:
- Deposit the real-world money from a credit card, PayPal, paysafecard, Skrill, or SOFORTbanking on the Deposit page.
- Place an order to SELL the real-world currency for your OM¢ at the corresponding “Exchange” page (e.g. Exchange USD/OMC for USD, Exchange EUR/OMC for EUR). See also “How to Exchange” for more information on how the exchange works.
How do I buy or sell Linden dollars?
Linden Dollars can only be bought or sold on Second Life’s LindeX exchange.
What is the difference between market orders and limit orders?
Market orders are easier to use for beginners, as they are immediately filled and automatically give you the best exchange rate that is available at the moment. In contrast, limit orders give you full control over the exchange rate, but it can take some time until they are fully matched.
Why is my limit order only partially filled?
With limit orders, you will never get an exchange rate that is worse than what you specified. Because of this, it may sometimes take some time until an order is fully matched with counter-offers. In this case, you will get a message indicating that your offer has been partially filled.
You may either wait until the order is fully matched, or cancel the remainder of the order (by clicking on the 
symbol on the Order Status page), and place a new order at a different price.
For an indication of how many counter offers exist at a given exchange rate, you can look at the “Current Market Depth” displayed on the Exchange page when placing an order.
What is the “manual step” required to process some withdrawals, and how long does it take?
Withdrawals to bank accounts are usually processed on the morning of the next business day. While most withdrawals to PayPal, Skrill, and Bitcoin accounts are processed instantly, we manually check some of them for security reasons (for example of new accounts). They will be processed within 48 hours. In any case, you will receive an email confirmation when the withdrawal has been processed. Note: For security reasons, the first withdrawal of bitcoins will always be delayed by 48 hours.
Why do I get an error when depositing money through PayPal?
The error message “A technical problem has occurred and your payment could not be processed.” is the result of a very general error code we receive from PayPal. The reason may be that something is wrong with the card you used for payment.
How can I deposit money with PayPal Mass Payments?
Using Mass Payments you can reduce PayPal fees, in particular for large transfers: You pay at most 1 USD to PayPal, instead of the usual 3.4%. However, Mass Payments can be made only from Business and Premier PayPal accounts, not from Personal accounts. Also, you can only pay from an existing balance on your PayPal account (not from credit or debit card), and the procedure is somewhat more complicated than the standard payment through our website:
To send a Mass Payment, log into your PayPal account, then click the “Mass Pay” link at the bottom of any page, and then click “Make a Mass Payment!” link at the left. Create a text file on your computer with the contents:
paypal@virwox.com 100.00 USD
The spaces between the items are tabs. Of course, you can specify other amounts and currencies (EUR, CHF, GBP). Save the file, then choose it for the file attachment on the Mass Payment page. Select “Email Address” as the Recipient Type, enter your VirWoX username in the “Email Subject” field, and your SL avatar name in the “Message to recipient” field. This will enable us to credit the payment to your VirWoX account.
Will the bank charge me fees for my withdrawal to a bank account?
Within the EU, we can send payments in Euro without banking fees.
For other currencies, and to non-EU countries, our bank charges us fees that we have to deduct from your withdrawal. These fees are 15 Euro for transfers up to 5.000 Euro, above that the fee is 30 Euro up to 10.000 Euro transfer amount. Transfers in USD cost 25 EUR (about 30 USD). It therefore only makes sense to transfer large amounts by bank. For small amounts, it may be cheaper to transfer to PayPal or Skrill, followed then a local bank transfer from there.
Bob and PV 