launched june 2012 localbitcoins is a bitcoin startup company based in helsinki finland . its service facilitates over the counter trading of local currency for bitcoins . 2 users post advertisements on the website where they state exchange rates and payment methods for buying or selling bitcoins . other users reply to these advertisements and agree to meet the person to buy bitcoins with cash 3 or pay with online banking . localbitcoins also offers a reputation and feedback mechanism for users and an escrow and conflict resolution service . as of december 2013 localbitcoins has around 110 000 active traders with a trade volume of 1400 3000 bitcoins per day . 4 in february 2014 two florida men were charged with violating state money laundering laws for using localbitcoins.com . 5 in that same month the company announced that it would begin mass producing low cost bitcoin atms . 6 april 2016 another two men from louisiana a former shreveport chiropractor and his son plead guilty to funneling money through an unlawful bitcoin financial scheme . the men were using localbitcoins to advertise their services . 7 references edit localbitcoins crunchbase profile . crunchbase.com . retrieved 2014 02 19 . mcmillan robert 2013 03 28 . why the only real way to buy bitcoins is on the streets wired enterprise . wired.com . retrieved 2014 02 19 . murphy kate july 31 2013 . virtual currency gains ground in actual world . new york times . retrieved february 20 2014 . lemarchand rafael 2013 12 06 . helsinki s localbitcoins hits up to 3 million a day in exchanges . arcticstartup.com . retrieved 2014 02 19 . localbitcoins.com targeted . business insider . 2014 02 09 . retrieved 2014 02 19 . joon ian wong 2014 02 15 . localbitcoins starts manufacturing low cost bitcoin atm . coindesk.com . retrieved 2014 02 19 . elliot maras 2016 05 23 . arrests and prosecutions reveal big vagaries in bitcoin selling regulations . cryptocoinsnews.com . retrieved 2016 05 23 . external links edit official website v t e bitcoin history legal status people gavin andresen hal finney satoshi nakamoto nick szabo amir taaki winklevoss twins adam back wences casares groups list of bitcoin companies list of bitcoin organizations technologies bitcoin network blockchain colored coins cryptocurrency cryptocurrency tumbler ecdsa p2p pow sha 2 exchanges anx bitstamp btc e btc china coinsecure india coinbase coinfloor huobi itbit kraken localbitcoins okcoin defunct buttercoin mt. gox bitinstant book category retrieved from https en.wikipedia.org w index.php title localbitcoins & oldid 729558097 categories bitcoin navigation menu personal tools not logged intalkcontributionscreate accountlog in namespaces article talk variants views read edit view history more search navigation main pagecontentsfeatured contentcurrent eventsrandom articledonate to wikipediawikipedia store interaction helpabout wikipediacommunity portalrecent changescontact page tools what links hererelated changesupload filespecial pagespermanent linkpage informationwikidata itemcite this page print export create a bookdownload as pdfprintable version languages espa ol edit links this page was last modified on 13 july 2016 at 01 17 . text is available under the creative commons attribution sharealike license ; additional terms may apply . by using this site you agree to the terms of use and privacy policy . wikipedia is a registered trademark of the wikimedia foundation inc. a non profit organization . privacy policy about wikipedia disclaimers contact wikipedia developers cookie statement mobile view