Crypto: Guide To The Hype
I’m sure most people who are reading this post will be interested in how to buy and sell bitcoins. If you already know how to do it, feel free to skip ahead. I’ll start with buying, because it’s easier. When you want to buy bitcoins, the first thing you need is a place that sells them. You can find places like this on LocalBitcoins or BitFinex (shout out if you’re using BitFinex!). After some research, I found the best place for me was LocalBitcoins. Let’s see how it works…
LocalBitcoins is an amazing service that connects buyers and sellers of bitcoin around the world. It was started in 2012 by some Swedish guys who had a vision for what bitcoin could become someday (that day has already come). If you want to sell your coins on there, just create an account and click “Sell Bitcoins” at the top of your dashboard once logged in! You’ll get a form where you enter things like your selling price per coin or number of coins for sale etc., then hit “post ad”. Once someone buys through your ad, then they contact you through another platform called “chat”. You can use chat for any questions about payment information etc. The reward halving is coming up, so I recommend you buy bitcoin if you can. It’s a great time to do it! If you want to get started with LocalBitcoins, use my referral link here.
Buying bitcoins from LocalBitcoins is very easy once you have an account set up there. All you have to do is look at the ads from sellers and contact them about buying some through their ad information. You can also make your own ad if nobody else has an ad for what rate they want! Also, be sure to check out the “chat” feature for help with payment information etc. The chat feature works well and I haven’t had any issues with it yet! Now comes the hard part…selling your coins again on LocalBitcoins or somewhere else!
Selling Your Coins on LocalBitcoins or BitFinex (or Somewhere Else)
If you’re looking for a way to sell your bitcoins after buying them from someone else, then this should help. As mentioned earlier in this post, I always use LocalBitcoins when selling my coins because it’s so easy and safe compared to other services like Coinbase or Circle that charge ridiculous fees while giving less money in return because of their high fees.
When you’re looking for a place to sell your coins on LocalBitcoins, first you should check out the “Bitcoin exchange” section on the homepage. You can find sellers there who want to buy a lot of bitcoin quickly and are willing to pay a higher price than most people are offering! It’s also possible to sell your bitcoins directly from chat, but be careful as this can be dangerous as some scammers may try convincing you that they’ll pay through services like Circle or Coinbase as payment instead of sending money directly. This way they avoid paying high fees and also avoid getting caught with their fake identity! They will tell you that “they don’t have any other form of payment”, but if they do it’s because it’s fake! Don’t believe them and report them right away (you can find links in the scammer information section). Always use LocalBitcoins for selling or buying bitcoins, not Circle or Coinbase; these marketplaces charge A LOT OF MONEY in fees while giving less money in return because of their high fees (I love BitFinex though!).
On LocalBitcoins chat (or wherever else), I would recommend asking what service the buyer wants. Once he says something like Coinbase or Circle, then just politely decline saying that they charge ridiculous fees and there is no way around having those sort of charges when using those services.
I hope you’ve found this to be helpful. I love writing, and if you like what I’m doing here then please share this post with your circle of friends! Thanks for reading, and good luck with all your bitcoin ventures!