Was replying to someone else and it got kinda long, so figured I’d create a whole new topic. This is for anyone wanting to trade Bitcoin locally, especially newbies. I’ve done my fair share of local trades and hope to share some tips to keep things safe. I’ll break it down into meeting spots, buying advice, and selling advice.
Local Trading Tips for Bitcoin Transactions
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Awesome info, appreciate you sharing this. You nailed it about safety being a priority, just like ShadowLife mentioned. Personal safety has to come first in these trades.
Great points here. I added some extra tips from others to the original post. Totally agree about setting expectations beforehand to avoid issues. Had my share of cash problems during trades too.
Pinned this thread. These tips are solid for anyone new to trading locally. Should help keep everyone safe. Thanks!
Thanks for the sticky! Really hope this helps everyone out!
Pro tip: meet somewhere with a table and set up a camera to record the transaction. Extra security never hurts.
If you’re gonna record, you should tell the other person first. A lot of cash trades prefer privacy, and recording could ruin that vibe. Plus, having a camera might attract unwanted attention.
Good points. Bringing my own camera might not be necessary if we’re meeting somewhere secure like a mall with cameras already. But yeah, getting the other trader’s okay if I do bring one is a must.
I thought the camera would be useful in a spot without security cameras, like Starbucks. Plus, I figured you’d let them know about the recording. A discreet camera, like a button cam, could help.
Great advice about having backup. Two people can deter muggers, and just having a friend nearby can make a dangerous situation feel safer. I’d probably let the other trader know, but keeping it quiet could work too.
Markers don’t catch bleached bills, so watch out!
Didn’t know that. Good to keep in mind for sure!
Your tips are cool but seem kinda opposite to what I’d want. I’d prefer a private spot with no onlookers. WiFi isn’t needed where I’m from since everyone has data.
I get that, WiFi’s faster for me, but whatever makes you feel secure is what counts.
Totally makes sense if you know the person you’re trading with. If it’s a stranger, having a camera would help security.
Yeah, I agree. Cameras add security, but it’s really about that balance between security and privacy.
fork_vaultMember
Posts: 27 · Reputation: 223
#17Oct 5, 2019, 12:38 PM
Meetups are my favorite way to buy BTC too. Feels safer!
ericcipherMember
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#18Oct 5, 2019, 03:57 PM
Look who’s talking, Mr BitcoinMax. You’re a thief and a liar.
fewunderstandLegendary
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#19Oct 5, 2019, 06:55 PM
I’d suggest carrying something for protection if it’s legal where you are. Glocks are good!
Here’s a wild story of a bad trade. Someone was selling headphones and met up at McDonald’s. Didn't go as planned seller took both the headphones and the bitcoins. Now I’m kinda wary of trades.