Localbitcoins Stops iTunes Gift Card Trading

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Last week I bought some Bitcoin using LocalBitcoins. There were some sellers that would accept dollars but charged a fee to do so that was higher than the fee to just buy bitcoin with itunes gift card on localbitcoin it into pesos first. Signing up to the site was very straightforward. I created a username, it asked me for my email and sent an email verification to confirm it.

Once that was done it automatically created a bitcoin wallet on the site for me. There was a profile page that I visited and set up a profile. Since I was buying and not selling bitcoin, I kept it simple and added some basic information.

Navigating around the site was easy enough. The home page asks if you are selling or buying bitcoins and asks where you are in the world. Once I entered my location and that I wanted to buy bitcoins the screen listed a number of sellers in my area and the payment options, fees, and the price they were selling bitcoins for. Since I'm in Mexico the prices per bitcoin were listed in pesos and most buy bitcoin with itunes gift card on localbitcoin sell them at a slightly higher price than the actual rate of an exchange.

I reviewed the list of possible sellers and selected one with a high reputation score and a lot of successful transactions. Good enough for me. Next is a list of payment options they accept and included Oxxo,BBVA a bankPracticaja, Farmacias, and the price per bitcoin they charge. Clicking on the Buy Button on the right side of their listing took me to a page that explained more details on how to buy from them. It looked like this. Before sending them any bitcoin I put in the amount of cash I wanted to spend in the blue box in Mexican pesos.

MXN This would be in the currency of the country you are in if you used it. Entering the amount will show you the amount of bitcoin you will receive in the blue box right next to it that reads BTC.

The Payment Window is the amount of time you have to deposit the cash in one of their accounts before the transaction is canceled so be sure you are ready to do so before clicking the big green Send Trade Request button. Before clicking the button I sent them a message and they responded within one minute which made me feel more confident.

You can aso click on their username on this page and it will take you to a page with more information about them that looks like this. On this page I could see they were last seen on the site 1 minute ago, they are trusted by the community, and I can read reviews and comments from people who have bought from them. All of that made me feel they could be trusted. They messaged me right back buy bitcoin with itunes gift card on localbitcoin answered my questions in perfect English and gave me a number to use to make a cash deposit at the store and told me the store would charge 9 pesos about.

Right after I asked my questions I could see they already had that information on their profile but I didn't see it. Still, having a fast response from them in English made me feel good.

I walked down to the store and handed the cashier the numbers and the cash and told her I wanted to make a deposit in that account number and it did cost 9 pesos. Here's a screenshot of the comments between me and the buyer and the time stamps on them shows how quick the whole process was from the time I first messaged them until the time I had my bitcoins.

I didn't feel like leaving it in their online wallet. I did all the math to see what the total cost was to buy bitcoins using LocalBitcoins. The experience was very smooth and fast with no snags at buy bitcoin with itunes gift card on localbitcoin and the site was very intuitive to use and on every page of the site, there were links to click that answered every question I had on how to use the site.

Buy bitcoin with itunes gift card on localbitcoin, coupled with the fast response to my comments by the seller made it a great experience. I would use LocalBitcoin. It still amazes me that two complete strangers can exchange value like this online. What an amazing technology Bitcoin is. Do you know of any other ways to buy Bitcoins with lower fees? Please share your experiences with us. Also, if you have experience selling on LocalBitcoins please share your tips.

Thanks for reading my post. If you liked it please consider upvoting or resteeming this post. Hope it was helpful. Learn more about Basic Universal Income here.

Excellent post dear friend luzcypher much valuable information, so you can appreciate this platform works very well, a friend of mine made a transaction and I was very buy bitcoin with itunes gift card on localbitcoin with the service, it is always good to have more reference of the services in lines. Thank you for this information. It can still be hard to purchase bitcoin.

I set up and account at Coinbase and am able to purchase bitcoin using a credit card. You can read more here: That is good to know.

I hope to make some transaction fees once I get there. Buy bitcoin with itunes gift card on localbitcoin be giving out pesos for btc sent from family in the states, most likely. If you go the other way, let me know. This post has been ranked within the top 10 most undervalued posts in the first half of Apr See the full rankings and details in The Daily Tribune: Apr 29 - Part I.

You can also read about some of our methodology, data analysis and technical details in our initial post. If you are the author and would prefer not to receive these comments, simply reply "Stop" to this comment.

Have you guys tried www. It is basically like localbitcoins when it gets enough users without the escrow cost and with a better solution!

Good to see I'm not the only one that is buy bitcoin with itunes gift card on localbitcoin about this. Buy low, sell high, it seems so simple but most investors still don't seem to get it: They even score the coins stengths. Authors get paid when people like you upvote their post. I'm glad you found it useful. I will have a look.

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Every day amateur bitcoin sellers post on one of the bitcoin forums about how they were trying to sell bitcoin and got scammed. They lose their money, their bitcoin and still consider themselves smart enough to make money with bitcoin.

The fact is most sellers lose more money than they make. Want to learn how to be a real seller? Check out our consulting service! One very basic question, as you seem like one knowing what are you doing: You are trading on sites like LocalBitcoins.

How do you trust a site with a. I read somewhere the exact ruling, and it is VERY confusing. Yes, you said it also differs from state to state, but most users trade with other users out of state anyways. I might, might, find it fun and interesting to get through my way and find the honest people among scammers.

This business is all about that, right? This article is from Paxful itself: Is it honest, or more like a misleading marketing ploy from their part? Could be, why not?

First of all a. Every user should way the possibilities of every website and how much risk they are willing to take. As far as registering with Fincen and other legalities, I am not a lawyer or financial adviser so I do not post advice on that.

Merely point out that their are legal regulations people should make themselves aware of. I think the article you linked to glossed over a lot of the hard parts of selling bitcoin those mentioned in this post and more. As more and more amateurs enter the market, the profit margins will be lower and lower. Instructing someone how to trade safely and answering all their questions takes a fair amount of time. I want to start selling btc, one due to latest research I did, buyers mostly buy through iTunes gift card,..

I have done several searches on uses of iTunes gift card, its only used for songs purchases,apple store apps, iBooks and lots of digital materials.. A seller like me, who is going to start with accepting of either iTunes gift card or amazon gift card as mode of payment to paid to me by buyers who wants to buy bitcoin from me..

How can I get out real money or buy electronics or some other sellable home use stuff from those gifts card after I redeem.. I need a straight comment. If you would like training on how to be a professional bitcoin trader check out this page http: I used PayPal and all was going good for awhile until they limited my account and asked for more info on the payments. Since they were for bitcoins, I am afraid if I tell them, they will shut it down completely.

Your comment was edited because you had mentioned something that could be considered fraud. We are a legal business and cannot allow any suggestions of illegal activities on our website. I want to ask how will I contact my offer becouse thy put their numbers there but those numbers does not work or exist? People should stick with professional and reputable traders that do have working phone number like ours Bank-BTC.

Here is the list of the most common mistakes amateurs make. People often come into the forums talking about how they were scammed and now cannot pay bills. Even the best traders get scammed so plan to lose money. Those profits are what keep you in business when prices fluctuate or you get scammed. Lower your prices to undercut your competition and you are cutting your own throat. If you accept Paypal you will get scammed, you will lose money and Paypal will come after you.

Yes, it is reversible. Believing that anything you can say will help you win a Paypal dispute. These suffer the same chargeback issues as Paypal but at a MUCH higher rate because they are even more infested with scammers than Paypal is. Understand you are on your own and expect business days for a reply from support. Be prepared that the replies you get may not actually help you. They can be reversed and scammers do it all the time.

Paypal MyCash cards and Amazon are the worst. There are also a lot of scams that will get your accounts shut down after the card has been loaded, you banned and a mark on your credit. Any money stored in the account will be locked and you will never see it again. Remember, most consumer based payment methods can be reversed. Selling out of escrow. Giving out personal information like bank account numbers or their phone number.

There are tons of scams that use these. The professional sellers that do give this information out have safety features on their accounts to protect them. Even if it is a real ID, most services do not care when they find out that the transaction involved bitcoin and will chargeback against the seller. I just came across your very interesting blog!

That is a lot of questions so forgive me if I miss any. My Amazon ad is because I need to buy toner for my printer soon and a few other office supplies.