LocalBitcoins to Source or wallet?

Discussion in 'Bitcoin and Cryptocurrency' started by The Caveman, Jun 20, 2017.

  1. The Caveman

    The Caveman Junior Member

    Might be a dumb question, as I am still learning about bitcoin…

    From LocalBitcoins, do you transfer direct to source, or to a separate wallet, and from there to source?

  2. Bender83

    Bender83 Member

    Never used local bitcoins, so take this with a grain of salt. The way I understand it is, you meet someone in person, give them money for their bitcoins and then they will transfer bitcoin to your wallet right then and there. So unless you give them the source btc address instead of yours, then it has to go to your wallet first.

    I would say it would be a pretty dumb idea to have the guy you buy btc from, directly send it to the source. You have NO information about the transfer should there be an issue. Source could say they never got the btc and you have no proof that it was sent.

    IMO always a good idea to transfer the btc to a couple of anonymous wallets before you send it out. You could also tumble them ( I don't but a lot of guys do). That said, I have a friend who doesn't even bother transferring to other wallets or tumbling, he has never had an issue, but that doesn't mean he never will.
  3. Marcus

    Marcus Member

    Localbitcoins is an exchange. You 100% do not ever have to meet someone in person. I've used it many times with bank to bank transfer and once I bought and Amazon gift card it's cash from store and bought BTC with it.

    Localbitcoins to another wallet, I did 2-3 jumps then Source. I'm still learning though too, but this has worked for me just fine thus far
    grey and Bender83 like this.
  4. pumpingiron22

    pumpingiron22 Member AnabolicLab.com Supporter

    I would go for hidden wallet or samurai wallet make sure to use multi sig over Tor as well as 4 hops. Local BTC is a Good place. If you need any more advice feel free to scroll through my Threads in the crypto section.
    grey and Marcus like this.
  5. Bender83

    Bender83 Member

    Ah, good to know. Gonna start to poke around on that site and see whats up. Looking to expand my options away from coinbase.
    Marcus likes this.
  6. Ddale

    Ddale Junior Member

    Has anyone used a bitcoin atm. Is it really that easy?
  7. Popeye32

    Popeye32 Member

    When you do.localbitcoins it has lot.of different ways to buy coins cash in person bank transfer MG WU credit card PayPal Wal-Mart 2 Wal-Mart gift cards and many more options but most require ID and time frame so many minutes to complete transaction to do so also localbitcoins give you a wallet when you buy coins so automatically goes in to your own wallet and you could send straight to source I set it all up but don't like having to use ID so I haven't bought coin yet and then to be safe send to another wallet and another wallet or tumble a couple times and worry about losing coin just pain in ass to do all that to me but when it comes to.protecting you freedom and your source it's worth it just my 2 cents
  8. Popeye32

    Popeye32 Member

    @pumpingiron22 do u think using your ID to buy bitcoin defeats the purpose of staying anonymous or undetectable it's the same as MG or WU since you have to use ID because if they really wanted to.find out you use bitcoin they could no matter how many wallets you used
  9. grey

    grey Member AnabolicLab.com Supporter

    That isn't entirely true.. proving ownership of a wallet is problematic especially after a few hops/tumbles and pretty much impossible if you only use it once and dump it.

    More problematic if you have also swapped currencies even just once along the way.
  10. Popeye32

    Popeye32 Member

    Thanks gonna have to learn to tumble and change currencies cause it looks like bitcoin will be only way CIM is so much easier then anything only if everyone was honest sources and buyers