How does a bitcoin transaction on localbitcoin in person go down?

>>1627855
First, only do business with traders who have high volume and good feedback.

After contacting the person and discussing how much you're buying/selling and for what price you'll agree on a public location to meet. Starbucks is a popular destination as they have free WiFi. Some traders will offer to exchange additional contact info such as a cell number. Serious traders will insist on using an encrypted chat application like Signal or Wickr, others don't care and will communicate over plain SMS.

Be there at the specified time, bring only your phone/cash. Tell the person where you're seated/wearing so they can recognize you. The person selling the bitcoin will ask to see the cash. The cash should be in an envelope, counted in plain view and left on the table. Next the seller will ask for an address. Typically this will be provided via a QR code. The seller will confirm the price and amount you're about to receive. Once the transaction hits the network the seller should pocket the cash.

You will now both wait until the transaction gets at least 1 confirmation, this is usually ~10 minutes. If you do repeat business with someone you might skip this step for convenience but always insist on waiting if it's a large amount. Once you get 1 confirmation say thanks and leave.

Small talk is fine but remember that in-person trades are done largely for anonymity. Never ask or disclose information which identifies you. Do not ask things like "what do you do for a living?", "where are you from?", or "where do you get your bitcoin?". Exchanging first names is fine (providing a fake is cool too) if you wish to do more trades in the future.

Always be punctual, polite, and professional.

Localbitcoins can be a little intimidating at first but after a few trades you'll see it's actually just a bunch of computer nerds hustling on the side.

>>1627855
If they try to get you to do or talk about something illegal, walk.

>>1627878
>First, only do business with traders who have high volume and good feedback.

Infinite regression.

Balance the risk/cost ratio of the exchange. If they have a good reputation, they will most likely be more expensive, but much less risky.

A new trader has to start somewhere, and you may be able to get a better deal, at the risk of getting scammed.

Consider a small transaction for the first meetup to confirm trust. Then have a larger transaction another day. This does not prove that the guy is trustworthy.

Also, consider the types of people that exchange magic meme money online. It's a bunch of nerds who wouldn't hurt a fly.

Worst you can expect is getting scammed. Such is life though.

(No skin in the game for me)

>>1627878

To top that off.

Do not. And I repeat. If they tell you where they've gotten the btc. Gtfo. It's a fed.

>>1627878
>>1627883
>>1629153
So basically this is a "currency" for shady people?

Why do people think this is the future of money again?

>>1629426
Basically, no.

There are plenty of "above the board" ways to purchase bitcoin, OP specifically asked about in-person meetings.

You'd take the same precautions purchasing a phone off CL.

Keep coping.

>>1629426
Have you even bought something with cash?

Bartered something?

Made a loan?

Every trade is about trust.

Bitcoin has no past comparison, so we're figuring it out wild-west style in real time.

Every beginning is trust based and strange.