Local Bitcoins Step-by-Step Guide

Local Bitcoins is a reputable marketplace, much like ebay, where traders in your local area offer bitcoins for sale at various rates and transact with you directly.

At Local Bitcoins you can buy with an online bank transfer, a cash deposit at a local bank or transfer agency such as Western Union, or by meeting the seller in person.

Most bitcoin sellers will not accept paypal or credit card payment from a first time buyer.

STEP 1 – OPEN A FREE LOCALBITCOINS.COM ACCOUNT:

  1. Go to https://localbitcoins.com/ and click on the big green ‘Sign up free’ button.
  2. Enter your details and click on ‘Register’
  3. Confirm your account by going to the email account you provided and following the link in the registration email they sent you.
  4. You now have a Wallet  which enables you to buy and sell bitcoins and use them to purchase products. You can see how many bitcoins you have  in your wallet next to the Bitcoin ‘B‘ at the right hand side of top tool bar on the home page.
  5. Click on the ‘B‘ and it will take you to a page that lets you send bitcoins and tells you your unique bitcoin address which consists of a long list of numbers and letters eg: 12w3xe3f1bxVqaHCBjG89tuAMV2NX8dFbw 
  6. To make a transaction you may need to update your profile information by registering your real name and verifying your phone number. To do this, click on the person icon on the right hand side of the top tool bar and scroll down to ‘Edit profile’. Then go to ‘verification’ or ‘Real Name’.

STEP 2:  BUY BITCOINS:

  1. Log in to your localbitcoins.com account.
  2. Click on ‘Buy Bitcoins’ on the left hand side of the tool bar at the top of the page.
  3. You will see a list of sellers in your local area with the following information:
    SELLER– this gives you the name of the seller and their stats: (100+, 100%) indicates that they have made over 100 trades and have a 100% positive rating. We would recommend using a seller with these stats. If there is a green spot next to their name they are online and active, a brown spot is inactive and a grey spot is off line.
    DESCRIPTION – this tells you the seller’s prefered payment method.                
    PRICE/BTC
     – this tells you the seller’s price per bitcoin in your local currency.
    LIMITS – this tells you the lowest and highest amount they will sell.
    PAYMENT METHOD – the sellers payment method options.
  4. Choose a seller who has a good rate and stats, the right limits for you,  your preferred payment method and who is on line and active (green spot), and click ‘Buy‘ next to their info (don’t worry you are under no obligation to buy at this point).
  5. The next page will give you an introduction and description of the sellers terms on the right hand side. You will probably find that for a first time sale they will require you to scan and send some form of ID to prove that your name corresponds with your bank account (drivers license/passport/bank card with numbers covered or something similar), so make sure you have that available before you move forward with the trade.
  6. Type the amount of bitcoin you require into the blue BTC box and the amount you will pay in your local currency will appear in the blue box on the left.  To work out how much bitcoin you need you can see the current USD/BTC rate at https://www.coinbase.com/charts where the value of 1BTC = $USD can be found at the top right hand corner of the page. If the Current Buy Price for 1 bitcoin is, for example, $400, the $200 you need to buy a dose of 25 hookworms will be 0.5 BTC. To work out how much bitcoin you need on any day, divide 1 by the current buy price, then multiply that amount by 200/130/85 depending on the dose size you want to order.
  7. Add a comment to introduce yourself and ask any questions (ie: “Hi this is my first bitcoin trade”), and click on ‘Send trade request‘.
  8. The next page will allow you to chat in real time to the seller, provide your ID, and follow their instructions to transfer funds to them. You will be messaging a real person now, so they should be able to guide you through the final few steps.

STEP 3 – USE YOUR BITCOINS TO BUY HOOKWORMS:

  1. Once you’ve bought your bitcoins go to the ‘B‘ bitcoin icon on the right hand side of the top tool bar.
  2. Copy and paste the Wormswell bitcoin address into the ‘Receiving bitcoin address‘ box (we will email our bitcoin address to you upon enquiry).
  3. Enter $200/$130/$85 worth of bitcoins in the ‘Amount in bitcoins‘ box, put in your password and click on ‘send from wallet‘.
  4. Contact us at info@wormswell.com to let us know that you have sent payment and we will confirm that it has arrived.