im talking about the cash deposit mark up. its currently at 402 and people are wanting up to $50 more. any way to combat this? or do i just have to be smarter when buying? (buying lot when low and storing on electrum)
why does localbitcoin have such high rates?
im talking about the cash deposit mark up. its currently at 402 and people are wanting up to $50 more. any way to combat this? or do i just have to be smarter when buying? (buying lot when low and storing on electrum)
[3 Points] Canna-Juice:
[2 Points] j0kfiyah:
Just use LibertyX, hardly any markup and they have locations everywhere. You can also be completely anonymous if you use a disposable phone. In terms of why Localbitcoins is so expensive, it's just people trying to make a return on their investment. Also, if people see that the price of Bitcoin is going up they may correctly infer a general increase in demand and thus increase their profit margin as a result.
[1 Points] Theeconomist1:
Is that a face to face exchange or the going premium for bank deposit? Bank deposit was usually the lowest premium. Face to face was higher b/c of hte obvious effort that it takes to meet someone. Gotta worth the time.
[1 Points] Early_C:
I do cash deposit and I can usually find BTC at 8-10% markup. Just the cost of doing business. In my experience, the markup seems to be lower in the morning, I guess the vendors want to get the business and start the day off with some quick sales.
[1 Points] Clix828:
[deleted]
It's a free market.
The sellers only set the price as high as they believe they will receive bids.