Localbitcoins.com Review



At GoldBitcoinCasino.com, we our dedicated to two things: spreading the word of Bitcoin, the currency spawned by the Internet and currently making waves in the global economy, and keeping our readers informed of how you can get involved in the world of online Bitcoin gambling. Both these interests frquently connect and overlap so we also try to keep our audience up-to-date with news regarding both when this happens.

Most of our readers are online gamblers who are especially interested in using Bitcoin for their gambling entertainment. For those of you who are newer, you might be wondering how to obtain Bitcoin. Bitcoin is obtained by a mining process. However, for most of us out there, Bitcoin is more easily available by buying it or converting another currency into it. Naturally enough, this had led to several companies starting up in the Bitcoin supply world in the hope of getting rich on the back of it. There are hundreds of these companies in existence and as such there is no shortage of Bitcoin going around. These companies are essential for the movement of Bitcoin considering the difficult and complicated process that is involved in the initial extraction of Bitcoin.


LocalBitcoins is an example of one of those companies involved in the exchange of Bitcoin. Though origianlly based in the United States of America, it has since moved its operations to Finland in the hope of working in an environment which is more receptive to the idea of cryptocurrency trading. The service has encountered some resistance in parts of America and also in European countries such as Germany and Russia. Despite these setbacks, LocalBitcoins continues to be an important name in the world of Bitcoin trading and estimates to have traders in nearly 250 countries around the world and is involved in Bitcoin deals that when combined are worth roughly $14m a week. Clearly, these guys know what they are doing.

While the exchange of digital currency through online platforms may sound confusing to those who are unfamiliar with the whole area, it is far from a complicated process. At LocalBitcoins, you can search for people looking to exchange Bitcoin for whatever currency you have in your possession or you can post an ad of your own, stating the currency you have and the value of Bitcoin you wish to receive. The Bitcoin is held in a LocalBitcoins wallet while the process is taking place. It's all very straightforward. The best part of LocalBitcoins, like all Bitcoin transactions in general, is that there is no greedy middle-man involved; it is a direct transaction between you and the other party. As such, the fees involved in Bitcoin transactions, if they even exist, are a lot smaller than those found in traditional transactions. By eliminating the middle-man, Bitcoin transactions save you time and money.

The importance of LocalBitcoins for those of us who use the cryptocurrency for our online gambling can not be overstated. Embracing the spirit of Bitcoin in its simplicity, speed and anonymity, LocalBitcoins allows you to quickly and easily transfer the currency you use in the real world to your preffered gambling currency. It is a quick process and will save you money as the fees involed in making the transaction are lower than those you would find if you were to exchange money in a different system.

So how exactly does it work? Well, go along to LocalBitcoins.com and you cna have a look for yourself. Once there, you can set up your free account, which uses your IP address to check its you, then proceed to the exchanges page. Here you can see the list of people in your area that have Bitcoin for sale. Once you've decided on a trader, all of which have a reputation rating to reassure you of their reliability, and you agree a deal, the transaction is held by LocalBitcoins until they receive confirmation from the other party. LocalBitcoins uses a two-factor authentication system, involving sending a PIN to your mobile phone, to guarantee the security of your account, once you enable it. As previously mentioned, LocalBitcoins will check your IP address to confirm who you are, if you log in using a different browser, email authentication will be required to complete the transaction.

If you're interesting in heading over to LocalBitcoins to replenish your stock for your next go at Bitcoin gambling, take your time to read through some advice from more experienced users before you get involved. It's important to remember that while LocalBitcoins offers you the platform to complete Bitcoin transactions, the system itself works on the basis of interaction between the buyer and the seller. The price for the transaction, the information you are willing to provide, the payment method to be used, all this need to be agreed between the buyer and the seller. You really need to be sure that you are happy with the seller you are dealing with before you complete the transaction.