Guide·Never done this before? Start here
Buy from a real person.
Escrow covers you.
Dollars in your bank, through to a paid order. We take Bitcoin and Litecoin. This walkthrough uses Bitcoin.
- A few hours, the first time
- No ID to sign up
- Escrow on every trade
How escrow works
- LockedThe seller’s Bitcoin goes into escrow
- You payPayID, straight to the seller
- They checkThe money lands in their bank
- ReleasedInto your LocalCoinSwap wallet
LocalCoinSwap holds the seller’s Bitcoin before you pay, and once you’ve marked it paid the seller can’t cancel. Paid and they won’t release it? Open a dispute and LocalCoinSwap releases it to you.
Have these ready
An email address
To sign up to LocalCoinSwap.
Your banking app
One that can pay a PayID, from an account in your own name. Sellers send back payments from anyone else’s.
Pen and paper
For your LocalCoinSwap password.
Your order total
The total at checkout, with shipping. Don’t place the order until the Bitcoin is in your wallet.
The walkthrough
Tap a step for the detail
Our referral links. They cost you nothing.
01Make an accountAn email and a password.LocalCoinSwap5 min4 steps
- 01
Go to localcoinswap.com
Tap Sign up on LocalCoinSwap on this page, or type the address yourself and tap Register. There’s no app to download.
- 02
Email, password, Australia
Use a strong password you don’t use anywhere else. Leave the country on Australia and tap Create account.
On localcoinswap.com - 03
Write the password down
On paper, now. Lose it and LocalCoinSwap can’t get you back into your wallet.
- 04
Set a wallet PIN
A short code LocalCoinSwap asks for after you sign up. You type it whenever you trade or send.
- 01
02Pick a sellerAustralians selling Bitcoin for dollars by PayID. You choose who.LocalCoinSwap10 min4 steps
- 01
Open the seller list
Tap Find a seller on this page. Or on LocalCoinSwap tap Buy, then pick BTC, PayID and Australia.
On localcoinswap.com - 02
Pick one with a track record
Lots of trades, a rating close to 5.0, seen recently. Their limits must cover your amount.
- 03
Check the price
Sellers charge over the market price, and the offer says by how much. Expect 10 to 20%, sometimes more.
- 04
Read their terms
Tap Buy on their offer and read them before you start. Most of the good ones want photo ID once, before your first trade with them. The ones that don’t are mostly new accounts.
On localcoinswap.com
- 01
03Open the tradeType the dollars and tap Buy Bitcoin. The seller locks their Bitcoin in escrow.LocalCoinSwap60 min3 steps
- 01
Work out how much
Your order total, plus the seller’s %, plus about 5% for the network fee and the price moving. Say your order is $415 and the seller is 15% over. Buy $500. Any left over stays in your wallet.
- 02
Type it and tap Buy Bitcoin
In dollars, in the AUD box, then confirm. That opens the trade, a chat with the seller and a timer. Nothing is paid yet.
On localcoinswap.com - 03
Wait for escrow
The trade says Escrow funded once the seller’s Bitcoin is locked. On Bitcoin that can take up to an hour. A chat message saying so doesn’t count. Don’t pay before then. Never locked? Cancel and pick another seller.
On localcoinswap.com
- 01
04Pay the sellerSend the dollars, then tap I have paid.Your bank → seller30 min6 steps
- 01
Get their PayID from the trade
The seller puts their payment details in the trade chat. Pay those and nothing else.
Drawing · the real screen looks different - 02
Send the exact amount
From an account in your own name. Your bank shows the PayID’s name before you send. Looks wrong? Stop and ask in the trade chat.
- 03
Tap I have paid
Back in the trade, as soon as the payment goes through. If your bank holds it, say so in the trade chat.
- 04
Screenshot the receipt
It’s your proof if anything goes wrong.
- 05
Wait for the release
The seller checks their bank and releases the Bitcoin into your LocalCoinSwap wallet. Usually minutes, longer if a bank holds the payment.
- 06
Seller gone quiet?
Don’t cancel. Open a dispute, upload your receipt, and answer LocalCoinSwap within 12 hours.
Drawing · the real screen looks different
- 01
05Pay for your orderCheck out, then send the Bitcoin from your LocalCoinSwap wallet to your invoice.LocalCoinSwap → Helios15 min4 steps
- 01
Check out and pick Bitcoin
You get an address and an amount for this order alone. Use those, never an old one.
- 02
Send from your wallet
In LocalCoinSwap open Wallet, then Bitcoin, then Send. Paste in the address and the BTC amount from the invoice.
Drawing · the real screen looks different - 03
Check both ends
The first four and last four characters should match your invoice. Then send.
- 04
Leave the invoice open
It updates on its own once the network confirms the payment, usually within minutes.
- 01
Read this bit twice
Rules that cost people money
Pay only once escrow is funded
If a seller asks you to pay before then, cancel and pick another seller.
Only ever pay inside a trade
Take the payment details from the trade chat, and keep anything you agree there, so a dispute can see it. Anyone pushing you to deal outside a trade is trying to get around escrow.
Never cancel once you’ve paid
Cancelling sends the Bitcoin back to the seller. Paid and stuck? Open a dispute.
Your password is your wallet
Nobody can reset it. Keep it and your PIN to yourself. Nobody from Helios will ever ask for them.
Nothing can be reversed
A Bitcoin payment can’t be cancelled or charged back.
Check both ends of the address
Compare the first four and last four characters against your invoice. Clipboard malware swaps addresses, and the middle looks convincing.
Stuck partway through? Message us on Threema or email [email protected] and we’ll walk you through it.