Why does localbitcoins seem to be the site everyone recommends to use?

I know circle has been shutting down accounts and all that and asking for more personal information (which by the way, is linking your real ID to a bitcoin site bad opsec?) but does Localbitcoins really do anything more than just not shut peoples accounts down for sending to DNM wallets and thats why its recommended?


Comments


[5 Points] tweakingaway:

Been sending direct from LBC wallets to dnm wallets since literally sr1 with no problems. Never had an account ban/warn and you can make them as anonymous as you want with any info, no verification. LBC is superior in everyway, paxful looks cool but has a shitload of scam reviews


[2 Points] throwahooawayyfoe:

It's easier to purchase large amounts of coin anonymously through LBC than just about anywhere else. Because you're dealing with 3rd party private traders rather than the site/firm itself, AML/KYC laws are very loosely enforced, if at all, with individual sellers being able to choose a level of verification they feel is appropriate (often times, this is none at all). If you can find someone locally through the site that does in-person cash trades, you can meet up in a starbucks or a mall parking lot that same day, sometimes within the hour.

To answer your secondary question... Buying and selling bitcoins is not in and of itself illegal nor suspicious and simply linking your ID to a site like Circle or Coinbase will not raise any red flags. What will cause alarms to go off, though, is if you start buying out of your ordinary patterns and in increasingly large amounts. If you do buy from a site that takes ID, just stay within their default buying limits (don't ask to have your limit raised beyond what they allow you to do for yourself) and make sure you move your coins through at least a couple go-between wallets before you tumble and send to your market.


[1 Points] RIP_Meth_9000:

Paxful ;-)


[1 Points] RainbowNose:

I much prefer to use circle, I'm not really too fussed if my circle account gets closed. Using LBC and bank transferring to someone got my actual bank account frozen, as their account had been associated with fraud. Calling up my bank to explain what I was doing sending money to them was not fun, first mention of the word bitcoin sets alarm bells ringing, as most people don't know you can do things that aren't drugs with BTC.

If you send to a wallet, then tumble, then another wallet theres no chance of them closing your account, and even if they do, what are the consequences?

This is unless your doing cash deposits ofc, which you can't do on circle so isn't really comparable.


[1 Points] penguinmixer:

  1. LBC does not have any ID requirements. The individual buyers/sellers you deal with MAY have ID requirements (such as phone number verification or real name verification). But you can choose to only deal with those who do not have ID requirements. BTC exchanges like Coinbase/Circle impose ID requirements at will...even for relatively-low trading amounts.

  2. I've never heard of anyone having their LBC account closed after they sent bitcoins from it to a darknet market. This happens all the time with Circle/Coinbase.


[1 Points] godihatejail:

It can be anonymous. There is no fucking limits, no nosey fucks to randomnly block your account because they feel like it. Fuck Circle. If you have banks near you that they use on LBC, start doing cash deposits and you wont regret it, after you figure it out it's cake. No circle stress.