Cryptocurrency exchanges are platforms that facilitate the ‘task’ when buying or selling virtual currencies. These platforms connect those who are interested in buying with what they want to sell. Before deciding on one of them it is advisable to know the different types of exchange, inform us about their strengths and differences.
Before the cryptocurrency exchanges appeared, the existing option was for the users themselves to come into contact in some way and carry out the transactions sending the money directly between wallets. In addition to the difficulty that could be found to find someone who agreed with our conditions, we had to trust that he would fulfill them. Making transactions really involved a risk that fell exclusively on us.
With the increasing popularity of crypto news and updates, these exchange houses specializing in digital currency were appearing. These platforms allow you to make purchases, sales or simple transactions without worries.
One of them is LocalBitcoin, the cryptocurrency exchange platform of which we will speak today.
WHAT IS LOCALBITCOINS?
It is a direct negotiation platform, that is, a type of cryptocurrency exchange that allows buyers and sellers to contact each other. In addition, this platform protects our funds, since we place them in it until we remove them.
Localbitcoins allows not only transactions with bitcoins, the number one cryptocurrency so far, but also supports other cryptocurrencies. This will depend on the offer available at the time we go to the platform.
Before we can accept the registration we must show that we are not a robot through a reCAPTCHA.
It is advisable that the email is one that is used regularly. Well, he will send us any information regarding our account and movements associated with it.
Once registered, we will receive a confirmation email in which a link will appear. As usual, this will give us the option to check the mail in case we have really started the process. When verifying the mail we will be activating our account, nevertheless, it will be necessary to complete a last and important step before being able to make use of the platform. You have to verify the account.
VERIFICATION OF THE ACCOUNT
As we just explained, the first steps are to create the account and activate it. Once this is done, we will be ready to verify it. In the upper right we can see a symbol shaped person. We will click on it and we will go to another screen where we will be shown all the information about our account and profile of the platform.
We must give “edit profile” and then “verification” , then we will show the steps to follow to verify it. It is necessary to verify the email (step already made), the phone number and identity.
Verify identity. It is essential to verify that we are real people. To complete this verification it is necessary that we provide a personal identity document, which can vary between ID, passport or driver’s license.
The page itself shows how to perform the verification correctly. When we have the document ready we will press “Start verification”.
Check phone number. Another important factor is having our regular phone number verified. To do this we must select the country in which we reside and fill in the blank with our number. Then we must wait for a text message to arrive that will contain a verification code.
Once this last step is completed, we can start using the platform.