Coinbase Review: A+

Local Bitcoins is not a typical exchange but rather a platform where you can trade bitcoins “peer to peer” in person. That means that you have to meet somene in person and trade cash for bitcoin. This is the orginal idea of bitcoin and it is a great feature, however please use caution when dealing with large ammounts of money and people that you do not know. Always meet in a public place like a cafe, more on this later.

Ease of use
The site is easy to use. You can put in the name of your city and zip code and look for buying or selling offers in your area. (There are also offers for buying and selling online via bank transfer but we are not going to get into that now and we are going to concentrate on the “local” aspect of localbitcoins) If you don´t see an offer in your area or do not like any of the offers you can place a buy or sell ad yourself. The prices are based on Bitstamp and you can add a + or – “premium”. This means that you are willing to buy or sell a % above or below the Bitstamp price. IF I want to sell maybe I am willing to offer Bitstamp -1% to attract buyers.

Allthough you do not have to have a mobile phone number connected to your account. It does make things eaiser. Some people only accept offers from users that have varified a telephone number.

So how does it work?
There are two basics ways to do “peer to peer” local bitcoin trades.
Method 1: Buyer and Seller agree on a price and ammount on the website. Escrow is activied (this is done by checking a check box). Then the seller sends the bitcoin to an address given to them by localbitcoins. Then the buyer gets a code that is generated by the website that only they know (dont show this code to anyone). When the buyer and seller meet the buyer does not need a phone or computer, only this code. When the seller sends the bitcoins to the buyers localbitcoins account (non refundable) then they get the code that you have, they simply show you this code and you know that the bitcoins are safely on your localbitcoins account and you are ok to pay the cash. You are using localbitcoins as an escrow in this case.

Method 2: This is more advanced. Basicly you are using localbitcoins as a platform to meet someone, then when you meet you work out how to send the coins ect. For example you could say “please bring a QR code of your public address” and then you bring some kind of smart phone or laptop that you can scan the QR code with and send the coins.

Trust

The site localbitcoins.com has a good repuation and is trustworthy. The users get ranked according to past deals, keep in mind that some users may be trying to commit fraud.

Day Trading
The site is not suitable to day trading because it takes a while to compleate a transaction.

Ease of use: A
Security: A
Trust: A
Anonymous: Yes possible
Day Trading: C
Altcoins: No

CoinMama.com is a platform that facilitates the whole process of buying and selling Bitcoins, as the leading cryptocurrency. It is located in the Virgin Islands, as you can find at the bottom of their website. There, you can read the following: “Intershore Chambers, P.O box 4342, Road Town, Tortola, BVI. Coinmama is a regulated entity registered as a Money Service Business, number 73980.” Since virtual currency has become a must nowadays, it is only fair for us to treat it as a necessity and check out what companies like CoinMama are all about!

CoinMama.com Availability

CoinMama.com is available in English, French, Italian, Russian, Spanish and German. This is certainly a great thing, as it enables people from all over the world to fully comprehend the services provided by the platform.

From their FAQ Section, we quote their response as to where their services are available: “Depending on your country of residence, you may not be able to use all the functions of the site. It is your responsibility to follow those rules and laws in your country of residence and/or country from which you access this site and service. (Unfortunately due to a change in our policy we cannot currently serve US residents. We hope to be able to serve you soon though for now this is until further notice).” It is a pity that US residents cannot be served, even if this inconvenience is temporary.

As for the payment methods accepted by CoinMama, they currently accept cash and credit cards (Visa, MasterCard, Western Union, MoneyGram, PM and Visa Electron).

CoinMama.com Reliability

CoinMama.com is a company from the Virgin Islands. Their company number is clearly stated on their site (73980). The site is security scanned and also GoDaddy certified. Of course, they use HTTPS and no data of your credit card is saved on their system. This means that you can expect no leak from their website regarding your personal details and login credentials.

They have got a crystal clear Privacy Policy and their Terms & Conditions is equally straightforward. Prior to starting with their services, you are prompted to verify your account and this is a solid way of increasing online security and reliability. Other than that, more sophisticated options like compulsory 2 factor authentication are not offered.

CoinMama.com Security

As we have mentioned above, there is enhanced security when it comes to CoinMama, without any extremities. For instance, you will see HTTPS and a clear environment for financial transactions without any leaks.

Still, 2 factor authentication is not a must and there is the option of using cash as a payment method (which is not as reliable as using credit 3D cards). Security includes the certification of GoDaddy and the security scanned badge. In a nutshell, some improvements would be great – but even as it is now, the security layering of CoinMama is more than decent!

CoinMama.com User Experience

From the first moment you visit CoinMama.com, you are impressed by the modernity and practical nature of their site. It is fast and it includes all the information you might be in search of, promptly and effectively. Upon entering, you are expected to sign up or log in.

During your sign up process, you need to write down your email and name, as well as a password and the country where you reside. However light these details might seem, you can have a look here and see that they also require a scanned ID or utility bill. On the home page of CoinMama, you can easily see the prices of Bitcoins and see how much you will be required to pay or receive (if you wish to sell). In general, the user experience of Coinmama.com is wonderful – with the objection to their verification methods.

CoinMama.com Support and Availability

We go ahead with our CoinMama.com review and now the time has come for the support and availability aspect. First of all, there is the live chat option. Although it is not available 24/7, this is an indication that CoinMama is serious about any communication needs, as well as dealing with the problems of their customers. You are required to state your name and address or login using Facebook or Google+, in order to contact support.

A FAQ section is also a great place to start, if you want to find out about the way CoinMama.com services actually work. There is a reminder of these frequently asked questions at the contact option, where you can submit a ticket and get your hands on some direct, personal information from a representative of the company. Finally, if you are looking for an email alternative, you can send your inquiries at support@coinmama.com. They’ve got a Facebook page, but rather basic social media presence.

CoinMama.com Review Bottom Line

At last, we are ready to conclude as to the pros and cons of CoinMama.com services. Well, they are located in the Virgin Islands and this can be more convenient, as far as security and privacy issues are concerned. Apart from that, the use of both cash and credit cards as payment options for Bitcoins is certainly a plus. You can easily navigate the website of CoinMama.com and sign up for their services. You can get your hands on some truly amazing support, including the immediate feedback of Live Chat and the prompt handling of ticket submissions.

On the other hand, there is definitely some concern as to the requirement of a scanned ID or utility bill for verifying your account. Then, the unavailability of serving US residents, as it has been expressed through their FAQ section, does come with an added sense of insecurity. Of course, this is not the only company that requires such means of verification. Without the compulsory use of 2 factor authentication, this is a justifiable solution.

As a whole, CoinMama.com has got some real potential and it is necessary to improve some details, so as to make sure that this platform becomes even more competitive in the near future!

Santa Monica-based bitcoin and dogecoin exchange expresscoin has officially launched after months of under-the-radar testing.

The formal launch marks the final rebranding of Cash Into Coins as expresscoin, a move that co-founder and CEO Will Wheeler indicates signals a change in how the company will approach its services and the broader bitcoin market.

Wheeler told CoinDesk that while Cash Into Coins was able to become a successful, niche complement to popular cash-to-bitcoin service BitInstant, expresscoin seeks to leverage additional payment options favored by the under- and unbanked including money orders, personal checks and wire transfers.

Comparing his company to fellow California-based bitcoin startup Coinbase, co-founder and chief marketing officer Joseph Hsieh told CoinDesk that users can expect expresscoin to take a different path toward furthering bitcoin adoption, stating:

“Our position is different. Bitcoin is intrinsically a global currency, so our aspirations are to expand abroad, and the segment of users were targeting are really underbanked or unbanked.”

Hsieh explained that though Coinbase offers a powerful service to those who can link their bank accounts to the company, the expresscoin approach may better serve those who may benefit from bitcoin the most — those locked out of traditional financial products.

At present, expresscoin indicates that they now have a team of nine working out of their LA offices, with additional US remote support aimed at bolstering customer service.

The founders consider this emphasis on customer service a crucial investment needed to tap into an undereducated market segment, saying:

“We want to be the friend to tell you about bitcoin if you don’t have one.”

Removing limitations

Wheeler stated that the rebranding will allow the company to formally introduce itself to new consumers, while leveraging its past experience with Cash Into Coins.

Wheeler explained:

“The move to expresscoin was we wanted to increase our payment options, we wanted to demonstrate that it wasn’t just going to be for the cash to bitcoin ecosystem.”

The company estimates that it facilitated $15m in transactions during the first year of operation as Cash Into Coins, and that it had 20,000 customers during this time.

Wheeler said that the rebranding was put in motion in December. This included the decision to bring on Hsieh, who formerly sold his in-game payments provider Sometrics to America Express for $30m in 2011.

Exploring the market

Still, expresscoin sees its introduction to the market as just the start of what will become a more diverse array of offered services.

The co-founders indicated that they have been working closely with major bitcoin ATM manufacturers, as these companies have been among the more active at positioning their offering to underbanked consumers. Further, they view this market more as collaborators to whom they can provide liquidity rather than competitors.

Expresscoin now operates at least one notable bitcoin ATM, the Robocoin unit that became the first in-casino offering in D Las Vegas Casino Hotel.

Hsieh added: “Our mission statement if we were to have it on the wall would be to be wherever fiat and digital currency touch.”

Wallet not included

Speaking to CoinDesk, Hsieh indicated that another differentiator between expresscoin and the competition is that it will not provide its own wallet to its users, though he says the company has not ruled out the possibility of striking a partnership with a large provider.

For now, expresscoin users can bring any wallet to the site, an advantage that they say will enable consumers to test the more advanced mutli-sig and HD offerings now on the market.

Hsieh explained:

“It’s like when you buy from Amazon, you can choose to ship to different destinations. We encourage people to try as many [wallets] as possible.”

The co-founders also say that they will refrain from any merchant offerings, choosing to focus solely on bitcoin’s growing consumer market.

Buying process

Basic expresscoin users need only verify their email and mobile number before completing a purchase.

With this basic authorization complete, customers can purchase up to $1,000 in bitcoin or dogecoin per order, with a monthly limit of $1,500.

The co-founders hinted that additional currencies would soon be added to the exchange, but did not indicate a timeline for this service extension or which digital currencies may be included.

Verified users who then submit orders can select their payment method before receiving detailed instructions on how to complete the sale.

To remove the restrictions, customers can opt to upload a photo ID to the exchange. Should any problems persist, the company says users will be directed to its customer service team.

Coinhouse make buying BTC easier for europeans

Not every exchange platform has to be overly complicated, and Coinhouse wants to provide a smooth user experience first and foremost. Registering an account, as well as validating it, should not take all that long. Users can verify their identity by taking a selfie with their ID, a scan of the ID itself, and a copy of a recent utility bill.

It is important to notice Coinhouse is not providing Bitcoin liquidity themselves, as they are linked to the Kraken exchange for buying and selling and Bitcoin. However, there is a fee charged on top of the current price, which ranges between 6% and 10%, depending on how high the amount is.

Additionally, users will be limited to buying EUR 500 per day and EUR 2,000 per month on the basic level. As is the case with every other Bitcoin exchange in existence, these limits can be raised by providing additional account verification. Coinhouse accepts payments with Visa and Mastercard, as long as the card has 3D secure enabled.

What may be of particular interest to some users is how Conhouse also offers an affiliate program. Referring users to this exchange through a personal link will earn 20% commission on all referral commissions. These payouts will occur for the lifetime of the account of both affiliate and referral, and payments are processed every Monday.

It is nice to see the company address listed on the website, under the Terms & Conditions section. Coinhouse wants to be as transparent as possible, which will also help them attract more customers over time. Plus, the platform now offers an option to purchase Ethereum as well.