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General questions

What is Liberalcoins?

 

Liberalcoins is a local Bitcoin, DASH, Monero and Litecoin exchange platform where individuals can meet to trade between digital currencies and fiat currency.

 

What services does Liberalcoins provide?

 

We facilitate trading of cryptocurrencies with local sellers or buyers for cash, as well as trading between various cryptocurrencies through our website liberalcoins.com. Traders have the option of finding other traders via our website to meet face to face or choose from a wide array of cash, wire and transfer services to exchange currencies. This allows for maximum flexibility, security, freedom and privacy when trading your digital currencies. To ensure the safety of your funds we have a built-in escrow system that releases the coins after the transaction is completed.

 

What is Escrow?

 

Escrow is a legal concept in which a financial instrument or an asset is held by a third party on behalf of two other parties that are in the process of completing a transaction.

Liberalcoins holds your cryptocurrency for you until you have confirmed receipt of funds in your account. Only when you have confirmed that you have received funds the cryptocurrency is released from escrow.

 

What is the difference between an online trade and a local trade?

 

An online trade is act of buy/sell of cryptocurrencies with use of Liberalcoins online secured escrow platform were members can engage in a transaction without meeting face to face via electronic payment.

A local trade is an act of buy/sell of cryptocurrencies with use of Liberalcoins online secured escrow platform were members can engage in a transaction face to face in their own city/country.

 

Do I have to purchase cryptocurrency only with fiat currency?

 

No. You can use digital currencies (Bitcoin, DASH, Monero, Litecoin) to trade for any of these same digital currencies using our platform.

Having the option of trading several digital currencies gives traders the opportunity to diversify their portfolio and balance their risk all under one roof. Especially in countries where Altcoins are difficult to access, Bitcoin can easily be used to trade for any of the Altcoins we have integrated.

 

How long does it take to receive/ send cryptocurrency to my Liberalcoins wallet?

 

If funds are sent from one unencrypted Liberalcoins wallet to another this will happen instantly. If funds are received or sent to an “outside” wallet the speed of the transaction depends on the cryptocurrency you are sending and how busy the respective network is. This is unfortunately out of Liberalcoins control.

Bitcoin for example because of the high volume of transactions, will take much longer than Litecoin to transfer funds.

 

Can I use Liberalcoins to launder money?

 

Absolutely not! Any suspicious transactions may be subject to government issued photo identification at the discretion of Liberalcoins. Failure to comply will result in funds not being released (the account being suspended).