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2
votes
1answer
105 views

How are Bitcoin ATMs secured against double-spends?

Some bitcoin ATMs allow the exchange from bitcoins to paper money. Since waiting in front of an ATM for a confirmation is not feasible, they must defend themselves in another way against ...
-1
votes
1answer
286 views

Is it illegal to trade Bitcoin OTC in the United States [duplicate]

I am considering selling Bitcoin OTC. As far as the legalities go, is it legal to anonymously trade Bitcoin for cash without taking KYC information and registering with FinCEN? I know all the "big ...
5
votes
3answers
1k views

How do I buy Bitcoins safely face-to-face?

I've made a contact via LocalBitcoins.com and am going to buy some coins with cash. The seller is not verified, but as we will meet, it sounds ok: I show him the cash. He transfers the Bitcoins. We ...
7
votes
1answer
1k views

Legal issues / banking issues selling Bitcoins to people OTC?

I'm wondering what the practical / legal limits are on selling Bitcoin as an individual using Craigslist and LocalBitcoins. Will I run into legal issues / frozen bank accounts as I scale this? Right ...
2
votes
1answer
115 views

Is it acceptable / encouraged to ask for ID and keep a photocopy for Bitcoin OTC transactions?

Suppose a business wants to get into the Bitcoin OTC business... they will need to comply with AML laws. It is acceptable / encouraged for such a business to ask for Photo ID and keep a photocopy ...
0
votes
2answers
942 views

Best way for anonymous purchases (for small amounts only) with credit card or Paypal if you have Bitcoins to spend? Bitcoin-OTC? No name credit card?

Obviously if you are American or you live somewhere where you have the opportunity to just buy a Visa (or Mastercard) gift card in a store for cash: you can't go better than that. But I don't have ...
3
votes
1answer
237 views

What Income Could I Expect as an OTC BitCoin Trader

How long is a piece of string? Given "typical" UK market conditions, if I wanted to trade BitCoins as an OTC trader (via LocalBitCoins, IRC etc) - what income could I expect? £10/day? £100/day? ...
3
votes
1answer
120 views

Can OTC help lessen the cost of slippage and exchange rate risk?

Obviously one can transact currency via buying BTCs on an exchange transacting them to another person which itself sells the BTCs received on an exchange - this would limit the possibilities of ...
3
votes
1answer
109 views

What stops someone from faking a rating on OTC web of trust?

What mechanisms does OTC web of trust have against someone creating several accounts and trading between with themselves over a period of time, giving each other perfect ratings.