How to Buy or Sell Bitcoin in Saudi Arabia


Bitcoin the cryptocurrency trade is booming since last two years. And most of the exchanges are not easily accessible to every country. Thus the localbitcoins exchange is available to everyone use in any part of the country.  There are more options than just credit card or connecting the bank account. Such as using the method of cash in hands, online transfer to any bank or cash deposit.
Trade Bitcoin in Saudi Arabia
Trade Bitcoin in Saudi Arabia

How Localbitcoins work:

Localbitcoins is the third party to manage the trade between buyer and seller. If you are as buyer choosing the amount of Bitcoin to trade with seller then you will just simply send trade request and localbitcoins will hold the amount of Bitcoin from seller wallet. Once the seller confirms the payment then localbitcoins will release the Bitcoin to your wallet.

Localbitcoins method as a seller:

Consider you are a seller at Localbitcoins. Open Ads request with the limitation based on the Bitcoin amount in your wallet that must transfer first to your wallet of Localbitcoins and select the payment mode to receive from a buyer and it works as follows:

  1. Buyer request receive
  2.  Amount of Bitcoin holds from your wallet
  3. Provide account detail and payment method to a buyer via chat message
  4. Buyer send notification of payment
  5. Confirm the payment and click on Release Bitcoin

Localbitcoins method as a buyer:

Consider you are a buyer at Localbitcoins. Choose quick buy and select the rate or based on the payment mode that easy to manage. The seller will response via chat message providing you that account details and payment mode. For example, you make online payment then choose payment done. The seller will confirm the payment and release the requested Bitcoin to your wallet as the following method:

  1. Send request for Bitcoin
  2. Seller will provide account detail and payment mode via chat
  3. After payment click Payment Done
  4. Seller will confirm your payment and release Bitcoin to your Wallet. 
Notes to consider while trading at Localbitcoins

Do not release Bitcoins unless you confirm that payment received and the buyer providing proof of payment that you might trust. Today the internet banking is online and can confirm the payment within minutes. 



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HowGear: How to Buy or Sell Bitcoin in Saudi Arabia
How to Buy or Sell Bitcoin in Saudi Arabia
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