Localbitcoins.com bans Cash By Mail trades

Today Localbitcoins.com announced that they would no longer allow cash by mail transactions on their service. They did not give a reason but the speculation has been that is was because of fraud that had been experienced by some users.

This would be dissapointing when you consider they collect millions of dollars in fees from their userbase. Those fees are supposedly taken to provide the support needed for this sort of issue.

In the past Localbitcoins has chosen not to set forth a clear standard or process for the requirements of a cash by mail trade. This has caused issues with resolving disputes. They also are understaffed and disputes can take weeks to be resolved.

Do not mistake the value Localbitcoins offers. Their reputable escrow service offers safety for thousands of users. While it has inherent faults that are not addressed, it is the best available escrow service for bitcoin trades.

We Still Offer Cash By Mail Trades

To protect the relationships with our cash by mail partners we are asking them to contact us directly. We hope to hear from you so we can continue working together.

You may email us or call us at 844-Bank-BTC.
We do offer secure messaging services for trusted partners. Contact us for more information.

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