How to make international money transfers to and from Thailand around the world with a minimum commission in LocalBitcoins

I registered in LocalBitcoins as a resident of Thailand

I discovered LocalBitcoins about three years ago, I used LocalBitcoins for international money transfers and the exchange of Bitcoins for fiat money (rubles and Thai baht), I wrote about this in the instruction “How to use LocalBitcoins”.

Due to the sanctions, I received a notification that now I can only withdraw Bitcoins from LocalBitcoins, but cannot make other actions.

For this reason, I registered with LocalBitcoins again, this time as a resident of Thailand. To do this, I only needed:

1. Thai driving license
2. Thai phone number

Additionally, if you are going to transact with Thai baht, then you will most likely need a bank account in a Thai bank in your name. Otherwise (unless you are going to buy bitcoins with THB), it is not necessary.

Subsequently, I discovered that my old account on LocalBitcoins asked me to enter the current place of residence (for me it is Thailand) and my phone number, after which it worked again as if nothing had happened!

Well, okay… the fuss with the verification of a new account was justified at least by the fact that for 1 month a zero commission was set for new users:

😎 As a new customer you get the first month with 0% Trading fees! 27/31 days left!

LocalBitcoins is reliable!

First, in LocalBitcoins everything is thought out to the smallest detail. You will not be deceived (and you will not deceive anyone).

LocalBitcoins has a huge number of participants with a huge number of successful transactions and positive reviews. As a rule, they also have the best exchange rates, so you don’t have to choose between “risk but profitable”, “no risk, but more overpayment”. You can simply choose “no risk, no overpayment”.

Bitcoins are deposited (frozen) for the duration of the transaction. You are guaranteed to receive your bitcoins if you have made money transfers.

If you sell bitcoins, then the buyer will not receive your bitcoins until the money arrives at your bank card.

LocalBitcoins is profitable!

Due to the large number of offers and competition, the exchange rate is very close to market exchange rates.

LocalBitcoins is fast!

You don't have to wait for Bitcoin transaction confirmations to arrive. Settlements are made on LocalBitcoins internal accounts. It also means no fees for bitcoin transactions.

What is LocalBitcoins for?

LocalBitcoins can be used for:

1. Sale of bitcoins and withdrawal of money to a bank card
2. Buying bitcoins
3. For international money transfers

International money transfers are carried out according to the following scheme:

1. Buying bitcoins in one country with local currency (for example, in Thailand for Thai baht)
2. Selling purchased bitcoins in another country for local currency (for example, in Russia for Russian rubles)

The time of such international transfers is minimal – you can keep within 10 minutes from the moment you buy bitcoin and receive money on a card in another country.

The transfer fee is also minimal.

How to get bitcoins on LocalBitcoins

There are 2 ways to get bitcoins in LocalBitcoins:

1. Transfer them to your wallet in LocalBitcoins
2. Buy them from other LocalBitcoins users

To transfer to your wallet in LocalBitcoins, find the wallet address for your account, copy, send bitcoins, wait for three confirmations.

Please note that the wallet address changes every 12 months, after which the old address becomes irrelevant, but the balance from it is transferred to the new wallet without commission.

How to register and pass verification on LocalBitcoins

Use this link to register on LocalBitcoins.

After registering, you will need to go through verification. To do this, you will need a passport or driver's license.

With the help of a Thai driver's license, I registered on LocalBitcoins as a resident of Thailand.

How to buy bitcoins on LocalBitcoins

Go to the LocalBitcoins homepage. This can be done by clicking on the big link “LocalBitcoins” or “Find offers”.

To buy Bitcoins, select “Buy”.

Enter the approximate amount of currency you want to buy bitcoins for (this will help cut off offers that are not suitable for you due to the limits of the bitcoin seller).

Select the country where you want to buy bitcoins, as well as the currency.

The rest of the options can be left unchanged.

Click the “Search For Offers” button.

A large list will open with search results that match your conditions.

In the first column you will find useful information such as:

• Percentage of positive reviews
• Total number of trades (deals)
• Payment response time

The second column shows the exchange rate. The most profitable rate is located on the top line. Pay attention to the first column so that this user has a lot of trades and positive deals. As well as a short response time to payment if you are in a hurry.

The third column is also very important (in fact, all columns are important). Here are the seller's payment methods. The value “National bank transfer” means a money transfer to and from any banks. In Thailand, this is especially convenient, since all online money transfers are carried out without bank fees, regardless of your bank and the bank of the destination of the transfer.

The fourth column shows the minimum and maximum amounts per trade.

When you have chosen the most suitable offer, click the “Buy” button next to it.

Instead of the “Buy” button, you can click on the seller's nickname and go to his page, which will show detailed statistics of his transactions, as well as additional conditions that he could specify for each transaction.

On the seller's page in the field “How much do you wish to buy?” enter the amount in national currency or bitcoins.

Be sure to read the “Terms of trade with” section, this section may contain very important information. This information may include the conditions under which the seller works, for example, the transfer must be made from a bank account with the same name that was specified when registering for LocalBitcoins. It may also indicate that the seller is a robot and tips for writing messages correctly so that the robot can understand and quickly process your transaction.

When you have read everything, if everything suits you, enter the amount to buy and click the big button “Accept terms and send trade request”.

Now you need to wait until the seller sends his bank details for payment. This usually happens very quickly. While we are waiting, pay attention to the fact that in the comments to the translation you need to indicate the unique string “Reference / message”. This is written in the explanations for the first step on the right side of the screen.

In the chat, the seller sent the name of the bank, account number and name of the recipient.

Also, in the received message, he asked to attach a picture of the transfer (online banking applications automatically save the check as a picture). The seller also asked not to mention the word “bitcoin” in the note to the transfer.

I transferred the required amount using the specified details, sent a picture of the transfer to the chat and clicked the “I have paid” button.

Moments later, I received the bitcoins in my LocalBitcoins account.

How to sell bitcoins on LocalBitcoins

You can sell bitcoins on LocalBitcoins from your wallet by sending them to your LocalBitcoins account.

You can also sell bitcoins purchased from LocalBitcoins.

I will be selling the bitcoins that I bought in the previous part of this post. But I will sell them in Russia. The ultimate goal of these transactions is an international money transfer from Thailand to another country.

Again we go to the main page of LocalBitcoins, but this time we press the “Sell” button.

Specify the approximate amount for which you will sell bitcoins (needed to filter buyers by transaction size limits), specify the country and currency. You can choose how you want to receive payment if you wish.

A similar table with the number of positive reviews, the number of transactions, payment time, exchange rate, payment method and purchase limit. Choose the most suitable one and click “Sell”.

Read all terms and conditions carefully. Enter the amount to sell bitcoins. When you're done, click the big green “Accept terms and send trade request” button.

Hint: You can see the amount of bitcoins you have in your LocalBitcoins account on the Wallet page https://localbitcoins.com/accounts/wallet/.

In the next message, I indicated my bank details for receiving a money transfer: bank name, bank account number and name of the recipient.

Wait for the money to be credited to the card. When the money is received, click the “Release bitcoins” button.

P.S. The screenshots in the chat showed some strange time – I don’t know why it happened, in reality the trade took several minutes.

Check in the online banking application whether the money has actually arrived. After that, confirm it by clicking the “Confirm” button.

Conclusion

These are my LocalBitcoins account stats. In fact, I have been using LocalBitcoins for three years now, but this is a new account that had to be created due to sanctions against Russians.

This is information about my trades (Bitcoin buying and selling transactions).

LocalBitcoins is an amazingly convenient and fast way to profitably sell or buy bitcoin, as well as make an international money transfer!