Create An Advert & Sell Your BTC on www.localbitcoin.com

Alan Solosh here, the passive income guru, in this video tutorial explains to you how to sell your bitcoin on the local bitcoin exchange and get money in your bank account.

Right? So what you need to do is you need to log into local Bitcoin, the local bitcoin platform, and we're going to create an advertisement. Okay, so please pause the video, log into local bitcoin now, and then come back to this video and resume the video. So over here you can see this is the amount of bitcoin that I have in my account. And I'm going to create an advert to sell all my bitcoin. So let's get started. So click on this clock icon in the top right hand corner. So please pause the video, please click on that icon and then come back to this video and resume the video on this page. I've already got adverts that I've created, but I'm going to create a new advert and show you exactly how to create that advert. So on this page in the right hand corner here, it says create advert. So please click on that icon. Now, please pause the video, click on that icon and then come back to this video. When done.

So over here you can just scroll down a bit and it says here, sell your bitcoin online. Okay, so click on sell your bitcoin online now. So please pause the video, click on that icon, then come back to this video and resume the video. Over here you can enter your location, which is South Africa. I'm in South Africa. I don't know where you are in the world, but you put in whatever country you are in. So please pause the video, choose your country and then come back to this video. When done with the payment method, you've got various different options. So you choose whatever option that you want. I, I'm doing national bank transfer, so I'm leaving it as is. So please pause the video, go and do that step, and then come back to this video and resume the video over. Yet automatically picks up my currency. So if I was in the United States, you'll see that the currency changes automatically to US dollars. So I'm just going to change it back to South Africa, so you don't need to do anything there. And the bank name, let me explain how the bank name works. So when we go to local bitcoin, you can see that this guy over, he's the cheapest guy, he's got all those bank accounts open. Okay, Those bank accounts are open in his name. So you could pay into. If you had a Capitec account, you could pay Capitech to Capitech, absent, absent, netbank to netbank or FNB to fnb. Now the reason he's done that is because he's a serious trader and he wants to get rid of his coins as quickly as possible. Now, I'm only with fnb, you see, some people are with fnb, so this guy's with FNB and Capitec only, only with fnb. So I'm going to put you FNB and I'm going to put you or any bank with immediate release. You see, what that means is that when the person and I'm going to start it.

I'm going to start it, okay? What that means is that I'm not anybody can pay me from any bank, okay? But I will not be releasing my coins until I have physical cash in my bank account. Now what they would need to do is they would need to check little checkbox on their online banking that when they, when the bank sends the money to me, it is marked for immediate release. Which means that there's no three to four day waiting period for the bank to release the funds to me, okay? Because I'm not going to release the funds and neither are you because you only release funds when money is physically in your bank account. Now please, you need to listen to this because there are scammers out there and they may copy an SMS and you know that the bank SMS send it to you because they've got your phone number, etc. Because your phone number is verified and it's in the platform, okay? And they may try and scan you that way. So you really need to be vigilant here, okay? The onus is on you, okay? If you like act dumb, okay, then you're going to get scammed. So you only release funds when you have got physical cash in your bank account. So please, this is the disclaimer, make sure that you do that correctly, okay? The next step is the amount of money that you're going to mark up your bitcoin by on this platform. And that's why I use local Bitcoin, because I'm in charge and in control of my bitcoin. I decide the price that I want to sell my bitcoin for, okay? Now on the local bitcoin platform right now, the cheapest guy is this guy over here, okay? And his price that he's selling it for is 148,000. Sorry, is 147,900. That's the price that he's selling his coins for. Now you'll notice that there's a Google price and there is a local bitcoin price. Okay. Now you can go to prev.com.

There'S the, there's the URL over here. Okay. And you can change the currency to your currency. I'm in Rand, so just change the currency to Rand. Right. So you can change it to whatever currency you want. If you're in America, you change it to US Dollars. I'm in South Africa. I want to see what the price is on this platform in South African rand. And as you can see, it's 134,000. But on the local bitcoin platform the person is marked it up to 140,000 dol.

So we want to basically be the cheapest. So I think he's marked it up by about 9%. So let's just check it out. Okay. So it probably marked it marked up by 9.5%. Need to just play with the percentages to see where it is. Right. So that's what the process. He's marked it up by 9.5%. I want to sell my Bitcoin to one person. I've got a lot of bitcoin, half a bitcoin. I want that money immediately in my account. So I'm going to be the cheapest, I want to be the cheapest on local bitcoin. So I need to play with these numbers to get to about 2,000 rent cheaper than the cheapest guy, which is about. So let's put in your 8%. So I want to get it down to 145,000. So 8% is perfect. Okay. And we're going to set up the adverture and the price of bitcoin goes up and down all the time. So I may need to change this percentage just now when I'm finished making my adverts. So you can do that step now or we can do it later, which, which I'm probably going to do as well. So the minimum transaction is I want to sell to one person. You can do whatever you want. If you want to sell 100 grands worth of bitcoin that's fine. That means you're just going to be logging into your bank account checking that the transaction was done. And it's a bit of a pain in the neck so you know, maybe put it on a thousand or maybe five thousand. So I want to work out how much bitcoin I've got. So I've got 0.53298. So I've got. So let's clear this. So I've got 0.53298 and I want to times it by 145,000 rand will tell me how much bitcoin I've got. So I've got 77,000 rands with the Bitcoin, okay? So the minimum transaction that I'm prepared to accept is 77,000 rands with a bitcoin. I'm going to put this as 1 million rand so that I never have to do it again. Okay? And by the way, this advert, you change when you got bitcoin, okay? As soon as you got bitcoin, you change your advert to suit the dynamics that you're in at that specific moment. So everything is editable. You don't have to change the advert, the entire advert, and create a new advert every time you want to sell bitcoin. You would just basically change the percentage, the minimum transaction limits. Okay? So what you can do now is you can pause the video, go and check how much bitcoin you've got, go and see the price that you want to sell your bitcoin for. And if you're a little bit lost, just rewind this video a little bit so that you can get to the stage, understand it properly so that you don't make any mistakes when you sell your bitcoin. And then after that you can come back and resume the video. Okay? Restrict amounts to. I'll just leave that empty. And then over here, the opening, opening hours. Now, this is quite important that you set it to 24 hours a day. So when you say end, just type on your keyboard 21 and then press Enter and it'll change the amounts, okay? So do that with all the, with all the Monday to Sunday or Sunday to Saturday. And when you've done that, resume the video. Now, the reason you want to do this, you want your advert to run all the time, obviously. But I mean, if you've set your price to be 2,000 rand or a thousand rand cheaper than the cheapest guy, you should sell your Bitcoin within 20 minutes to two hours. Monday to Sunday, Saturdays and Sundays, there's fewer people on local bitcoin. Monday to Friday are better days to be selling your coins. Okay? And also you can activate and deactivate your advert at any time. So if you move away from the advertisement, from your computer, you need to be pausing your advert because if somebody tries to buy from you and you're not Available, they could give you a bad scoring. And you don't want to get a bad scoring. People want to see that they selling from legitimate buyers with good scores. I mean, over here, you can see that this guy's done 10,000 trades with 100% success rate. And you want to try and keep your hand. Your percentage at 100%. Okay. Or between 95 to 100%. You know, sometimes you have altercations, which happens. My score is not 98%. It just. It is what it is. Okay? So try and keep it at the right score. Okay, so now that you've done this, this is your terms of trade, and this is where you're going to basically put in the terms and conditions of your trade. So that's me. It's an fnb. It's EFT only. I'm actually gonna. I'm gonna say here, well, I've got your cash deposits. If they want to do cash deposit, they can. They need to add a minimum of 50 rand as a deposit fee. If you do deposit cash, please add 1.5%. So you need to make sure that the person understands the fees. Okay. Put your bank account details, so please pause the video go and put in your terms and conditions. And then you can resume the video. Okay? And then over here, you can just copy and paste exactly the same thing. In the right hand corner is three little lines, parallel lines is a triangle. And you can just drag it down so that you can see your terms and conditions. Yeah, Just make the terms and conditions neat and easy for them to understand. Don't complicate the person's life because you'll just cancel the trade and go and trade with somebody else. Okay. The minimum volume.

Let me explain that to you. How much previous trade volume the buyer required to have in BTC. So I want a minimum trade volume of 0.01. I want to know that the person has traded before. Okay. I just. I don't want to have to. Like I've had. If I left it at zero before, and I had a lot of people contacting me, how do I buy, Sorry, I made a mistake, blah, blah, blah. Just put it on 0.1. You know, that they've traded before. And that's. And that's cool. Your minimum feedback score, you can just. It's fine. You can leave that empty new buyer limit. You can leave that empty transaction volume coefficient. So what that means is that for person to come back. Okay. For repeat trades with the. With a contact limit, purchase size maximum to the factor of total past trades with the, with a contact. So in other words, it must be. He must have trade. The next trade that he does with me must be 50% more than the last trade. So I'm just going to put it at one to one so there doesn't have to be an increase. Okay. So if he bought from me to Bitcoin, okay, then he'd have to buy from me. 3 Bitcoin on his next trade. I'm not interested in doing that, so you don't have to worry about that. Track liquidity. This option limits the liquidity of this advertisement to the maximum. Okay. Which means that nobody can send you. So if somebody's traded with you can take in all your Bitcoin, then nobody can do another transaction with you. So just click this, this, click this option, make this option ticked, and then we can continue. So right now what you need to do is you need to pause the video, go back to online selling options. Paste it in here, Fill in your minimum volume. Okay. Like I've done your transaction. Transaction volume. When you've done that, come back to this video and resume the video. Okay. The reference. So the reference type. Okay, now you need to. If you've got lots of bitcoin and you selling, let's say you're not selling it as one lump sum and you're getting lots of orders, you need to track those orders or those payments in your bank statement. So what, what local bitcoin does is they, they allocate a transaction password automatically for you. And that transaction number is what is put in the order. Okay? So in your order you can just put here, please use the transaction.

Reference provided. Okay?

And now they'll know to use that transaction reference when they do the payment, okay? So that when it comes in, your bank account will have the local bitcoin transaction reference, which is unique to each trade and changes every single trade. Okay, so track liquidity, display reference. You definitely want that displayed. Okay. So it will be that transaction reference allocated by the local Bitcoin platform for each transaction, which is different. Okay? I'm not interested in verifying and using trusted people. I sell to anybody. The people have been verified by local Bitcoin. They've sent in their KYC documents. Local Bitcoin has verified those documents for them. There's no reason for me to, to verify any information. Okay, so let's go and check the advert. Let's go. Make sure that everything is 100%. You can pause the video. Go and make sure that everything is 100% on your advert. And then you can come back to this advert. So I'm going to click publish and then when you're ready, please resume the video, come back to this video and resume the video. Right, so let's go back to the adverts and as you can see here, my advert is displaying. So let us go to the local bitcoin platform and let's go and see that my advert is displayed, is displaying. There's my adverts, bitcoin carrot bars. That's me over here. Show you bitcoin carrot, boss. There's my advert displaying. I'm first on the list and I'm going to be selling 77,000. You see here I've got, that's the amount of.

Of bitcoin that I have in my account. So I said that I wanted to sell seven, it must be 77,000. I want somebody to take all of my bitcoin now if this changes and some person goes above me, so this, what will happen is they'll see that they're not first anymore and then they'll edit their advert and they'll change the markup, that margin percentage to a lesser amount so that they go first in the list. Okay, so if this keeps on happening in the margin drops, just pause your advert, wait for those people, those professional traders to sell their bitcoin and then you can come back if the margin would have increased back to 8% and you can sell your bitcoin again. Alternatively, what you can do is you can change your limit amount to, or the amount of money that you want to sell. So maybe change it to 5,000 rand at a time or 5,000 of your currency at a time, rather than the full amount of bitcoin. So my bitcoin advert has been created. I'm waiting for somebody to buy. It takes between 20 minutes and two hours to buy, depending on how I've set my adverts up, which could be, you know, I could have set it up incorrectly where I'm asking for too much money. 77,000 random is a big whack of money and not many people, you know, have that. But I'm looking for professional traders. As you can see, these guys are selling in minimum quantities, 1001-005004-00300. So only somebody that's got 77,000 rent can actually buy from me. I'm hoping to get it in one smack and if I don't, then I'll just lower this amount to 5,000 and see what I, who's going to buy from me. So I'm going to pause the video. I will resume the video once I have a buyer and show you what the next processes are. Right. So I've changed my amounts of my order. I wasn't getting anybody to take my full bitcoin so I made a minimum amount of 5,000 rand. And we've got a guy that wants to buy some bitcoin from us. So I got notified in my little speech bubble over here, I also got an email and an SMS telling me that I have an open trade. And we started communicating. So he said, opened a trade. I said, how's it? I said, you can deposit, I will release asap. They said I'm making payment from their phone. They're saying it's not a cash deposit so they're doing an EFT from their phone. I said okay, cool. And I said let me know when you're done. So as soon as they done, let's just see what maybe there's another message I put. Let's just have a look. Okay. So when they, when they have made the payment, I'll check my bank account, I'll show you the transaction and what the next steps are. So just in case you click out of the advert or the trade and you are on the main screen, how you get back there is. There's two different ways of getting back there. One is you can drop the speech double down, speech bubble down and you can go over there and that will take you back to the trade. Okay. And if you've got multiple trades open, you can click on this, the time clock in the top right hand corner and it shows you what your trades are. Firstly it shows you your open trades. Which is over here. This is the guy that is buying coins from us at the moment. And here is the, here are my adverts that I've created and this is the advert that is active at the moment. So to get back to the trade from this screen you just click on View message and takes you straight back to this.

This the screen. So he's come back to me with various different questions. One is he didn't know where the bank details were. So here the bank details. But he says he is playing with his phone. Maybe he is on his phone and he can't see this right hand screen. So always be nice on this platform. Just speak nicely. You should be speaking nicely anyway. But don't get upset, don't get frustrated. People are new here, they don't know what's happening. Be the Leader and help people outside. He says, yeah, pay from FNB accounts. And what is your account info? I said, it's on the right of the advert and check it below. Okay, so there is my information. There's the unique reference number allocated to this trade so that I can track it in my local Bitcoin account, which I'll show you after I've gotten two or three trades. You'll see the different reference number and it says, your business will check. I don't get it. I want. I want to be sure before I make this payment.

Check.

Check, please. And once. Once he pays and I've got the other people that have traded, I will then resume the video. Right, so the gentleman has responded. He said he's paid me one rand. There it is. He asked me for my email address. He says, I paid one rent. Confirm the payment. I will make payment to the original amounts. Now, don't get confused here, my friends. Please, you need to log into your local. Into your local, into your online banking portal and see that the money has arrived. Okay, so let's look at my bank statement. So there is the one rand that he paid. I'm definitely not releasing the coins yet because the order was for 36,000. So I'm not sure why he paid it. But then I was communicating with him. I said, I've received the one rand in my bank account. Please pay the rest. He said, paid. He said to. He said the reason he paid me the one rand was to confirm the bank account. He didn't want to make any mistake. That's quite clever. So he was being diligent on his side, making sure that I received the one rand. And when I received the one rand, then he was going to pay the rest. So as you can see from my bank statement. Look at the reference numbers. Here is the reference number. It's exactly the same. So when we go to the order, you can see here, here's the reference number. Starts with an L1, ends with an S8. Starts with an L1, ends with An S8. This transaction is unique per trade. Okay, so now I've received the funds. They're in my bank account.

He has said that he's paid. Okay, it now says here, release coins only when you have funds in your bank account, not from an sms. You need to log into your online banking account and check that you have received the funds. Okay, now you can release the bitcoin. Okay, so now you can pause the video. Go and check your funds in the bank account. Come back to this Video, click on the Release Bitcoin money.

Button icon and then it'll take you to another screen, which is this screen of which you need to put in your Two factor authentication, which I'm going to do right now. So this will, this password will either be your password or they'll send you an email. I've got the Two factor authentication on my screen on my, on my mobile phone. So I will now enter the code and I will release his funds. Okay, so I'm sure that I've received the payment from the buyer. So you've checked that in your bank account and you can press confirm. So please pause the video go and do that step and once you've done, you can come back to this video. Okay, so now he's received his funds and I'm gonna say thanks for the trade.

Please mark me as trusted.

And leave me a positive comment.

Click send. So always be nice on this platform. You need to get your score up. And this is the way you get your score up. You thank him for his trade and you ask him to give you a ask. You ask him to score you. So I put here, there's my email saying that the coins have been released and say positive. And I say you can actually copy this.

Paste it in here and then update the feedback. Okay, and we are now done with this transaction with this car. We still got 0.28 of a Bitcoin left. And when I get another trade, I'll resume this video and show you that there is a unique transaction number for that one different to this trade. Right. So all my bitcoin are now sold, as you can see over here.

There is a different. Here it is different reference number for this trade. So if we log into the banking, you can see here are the different. The first two that we did. Some guy didn't give me, didn't use the reference number. He used his name, but I matched it to the, to the payment to the amount of bitcoin that he took. And here's the third transaction over here which is starting with an L1, ending with a WD. So if we check it out, it's L1.

And everything has. So he's paid me, I've gotten the money. Now you can see the different reference numbers that are allocated by the platform automatically. And now I'm going to release his coins.

And it's going to ask me for the geocode. So I'm just going to put in the geocode quickly. So make sure that you are releasing the coins to the right person. Check the reference number matches the bank account before you make a mistake. Once you've released coins, you cannot get them back. There is no recourse here. The onus is on you to make sure that you are doing this 100% correctly. Great. So now I've released his coins, which is great. He's got his coins and I'm going to say thanks for the trade. I'm going to just highlight everything and copy it so that I can give him feedback. Please mark me as trusted and give me a good comment.

And we will say thanks for the trade, fast payer. And we can update his profile and everybody's hunky dory now he's got his coins, I've got my money. Everybody is very, very happy. So that's how you make sure that you're trading correctly. This is how you sell your bitcoin. So I hope that you enjoyed this video. If you found it to be educational and interesting, please just mouse over this video in the training website. Click on the YouTube icon, takes you to my YouTube channel. Make sure that you logged into your Gmail account because if you're not logged in, you can't subscribe to my YouTube channel and you need to be subscribed so as to get new videos that I come out with. And I come out with videos all the time. Also give me a thumbs up and also comment in the comment section. Leave me a comment and at the bottom of your comment put in your bitcoin wallet address because I give away 0.005 of the Bitcoin every single week. And you could be the lucky winner of that bitcoin. And thanks for watching and I'll see you on the.