Jan 16 2018, 06:44 PM
QUOTE(GameFr3ak @ Jan 16 2018, 06:35 PM)
Hey guys, for someone who maybe wanna cash out some BTC to MYR, I've stumbled upon Remitano and Localbitcoins.
Now, I have some confusion about how all these trading works, I've read the FAQ but unsure if I got everything correct. Please correct me if I'm wrong, thanks!
I put BTC to escrow and wait for the buyer to transfer $ to my bank account. Once I confirmed that I've got the $, I'll release the BTC from escrow to the buyer. Is this as simple as I think it'll be?
Yes, just transfer your BTC to your LocalBitcoins Wallet, then when a trade is initiated, LocalBitcoins' system will automatically lock the specific amount of BTC in escrow, then the buyer may proceed to do a bank transfer to you, then once you confirm that you've received the payment, you may proceed to click "Release Escrow".Now, I have some confusion about how all these trading works, I've read the FAQ but unsure if I got everything correct. Please correct me if I'm wrong, thanks!
I put BTC to escrow and wait for the buyer to transfer $ to my bank account. Once I confirmed that I've got the $, I'll release the BTC from escrow to the buyer. Is this as simple as I think it'll be?
If you don't release, do keep in mind that the buyer has payment proof in which in the end - LocalBitcoins will still release the BTC to him/her.
So yea.. it's pretty secure for both buyer and seller.
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