Jefferychinedu
Banned by request of the account holder.
- Feb 25, 2017
- 120
- 57
I'm trying to start my own crypto currency exchange business. I'm new. I want to know how to buy at cheaper rates. Is it profitable? What are the risks?
Can you get scammed on local bitcoin?LocalBitcoins isn't such trustworthy anymore - but you can try on all other exchange websites.
Especially when you will use PayPal.Can you get scammed on local bitcoin?
How about $1000 CapitalYour best bet would be to make it local. Avoid setting big fees and commissions as that's a big red flag for most financial customers.
Use the local currency and put a big enough split between the BUY and SELL price to profit. By using the local currency you make it harder for the customers to figure out what's the actual price they're paying, which allows you to profit even more.
P.S. Be aware of currency risk when working with small local currencies.
P.S.2 - You'll probably need more starting capital than you think.
How about $1000 Capital
LocalBitcoins isn't such trustworthy anymore - but you can try on all other exchange websites.
No.Can you get scammed on local bitcoin?
Only with PP.Especially when you will use PayPal.