Bitrated is a great website for buying or selling bitcoin. You can even use it to sell your laptop or other items and receive bitcoin. At the end of this article we will get into why you should use Bitrated. First the step by step tutorial
Instructions for starting a trade on www.Bitrated.com
Step 1: Go to https://www.bitrated.com/trade/new
If you don’t have an account you will have to create one. It only requires your email address to set up an account.
Step 2: In the box that says “I am buying” put in the US dollar amount you want to receive from us (844bankbtc). This should be based on the current Bitstamp price for the amount of BTC you are selling. If you need help call us and we can calculate it for you.
Step 3: In the “From” box put the email address of the person you want to receive cash/payment/laptop/car/etc. If you are starting a trade to sell bitcoin to us, our email address is in the picture below.
Step 4: In the “For” box put the exact amount of BTC you are selling to us
Step 5: In trust agent enter “Scottemick“. We recommend him because he charges no “agent fees” and has a great reputation in the bitcoin community. He is easily searchable on the web so you can verify he is legit. If you prefer someone else you will make less money because of agent fees.
Step 6: In the “Refund address” box put your own personal bitcoin wallet address.
THIS IS VERY IMPORTANT!
Make sure it is a wallet that you will have access to for at least a week and can receive bitcoins at. This is so that if something goes wrong the escrow agent can send bitcoin back to your wallet.
Step 7: In the “Contract” box enter the details about the trade. This would be payment method (cash deposit, cash by mail, etc) and any needed info like your address or account number. Include any other details or requirements you would like.
When you are done it should look something like below. If you need help filling it out for a trade with us, feel free to contact us.
Step 8: Click the “Create Trade” button
We will receive the trade and accept. This part works the same as LBC or most other trading websites.
While Bitrated.com is a little more difficult to set up, the benefits are enormous.
Benefit #1: Privacy and Security
Bitrated doesn’t require or store any photo IDs. There isn’t even a place to upload them. It is based on reputation (individual traders may have ID requirements but those IDs are not shared with Bitrated).
In a trade through a website like LocalBitcoins, LBC requires you to upload it to there website. There LBC shares your photo ID and trade information with any government that asks for it. For example, pretend you are based in the US and you trade with someone in China. Localbitcoins will give your photo ID to the Chinese government (where the other trader is) the European Union (where LBC is) and the US government (where you are).
Benefit #2: Speed and support
The escrow agents are real bitcoin traders with experience that don’t take days to answer. With other websites you may have to wait days for their support to assign an anonymous stranger in a foreign country to help you with the trade
Benefit #3: Cost
There are ZERO fees. LBC and other websites often charge deposit fees, transfer fees, ad fees and more. On Bitrated you only pay the the escrow agent fee. That is why we recommend Scottemick and his 0% fees.