Local Bitcoins Review

Website Review

As the economy changes and old systems of government are bent and twisted, we as people try our hardest to evolve and change right along with it. We come up with new ideas and reintroduce old ones in a effort to make the way we exchange currency for goods make sense and come out to be mostly fair to all parties. The history of American currency is fascinating, spanning over centuries and changing with its people to become a more flexible and convenient way to conduct business. Just as trading furs and pigs gave way to dollars, cents, and bank accounts, our paper monies have largely been replaced by debit and credit cards, as well as the online transfer of money from one account to another to pay for goods and services.

Now again, as our love for all things internet continues to expand, cryptocurrency is on the rise and gaining popularity as the new way to save and spend. Bitcoin is digital currency (cryptocurrency), which is created and held electronically. The value comes only from the purchase price, and a public ledger records every transaction made. Bitcoin can be used to purchase things online, and Japan has made it a legal form of currency.

Most people are just getting familiar with Bitcoin, and are starting to invest. It is purchased with local legal currency, and there are many different ways to go about purchasing and trading.

Localbitcoins.com is a direct trading site set up so users can communicate with each other to buy and sell Bitcoin without any corporate interference. Bitcoin buyers search a list of traders and then contact them directly to set up the sale. Exchange rates are agreed on if applicable, and then the currency is either sent via wire transfer or sent to the buyers web wallet. The site takes fraud seriously and protects buyers by holding escrow in the sellers accounts. This insures that the seller will not be able to take the money and run. A very cool aspect of this new currency is that it can be used anonymously, and without banks or other federally endorsed institutions. This does make it more expensive to buy Bitcoin with traditional payment methods, as it poses a threat of loss to the seller, but at the same time creates a silent agreement between users to govern themselves and stay far out of the current corrupt market.