For some reasons, people are hesitant to buy bitcoins in face-to-face transactions. They are afraid of the risk that comes with it and would rather trust a Bitcoin exchange with their bitcoins. However, every method comes with its own set of dos and don’ts. This post will outline the various dos and don’ts you must keep in mind while trading bitcoin face-to-face. Carry your device with you Do not forget to carry your personal device, be it your mobile phone, laptop or tablet when you’re going to the meeting. Make sure that you already have a bitcoin wallet if you’re the buyer. It is best to take your own device so that you can verify the trade on it rather than filling out your personal information on the other party’s device. Do not cancel trade if price of Bitcoin drops Feedback is everything. Do not try to walk out on a trade when you can negotiate. If the prices have dropped then it is best to try to negotiate on a price that benefits both the parties. When you cancel a trade, it is going to lessen your chances of earning a good feedback early. Decide on a price ahead of time To avoid any debate on the price later on during the meeting, it is best to agree on a price beforehand. Do not try to get a higher rate out of the seller after the price has been decided, this attitude can cause things to go sour very quickly. If possible, get an escrow service as it guarantees the payment to the seller and the buyer is sure that he will receive the bitcoins before releasing the payment. Don’t expect to get rich overnight You need to keep track of the rapid price changes taking place while trading. You need to prove that you are a good and reliable buyer/seller in order to gain a better reputation on any exchange platform. Be sure to remain patient when dealing with bitcoins, as nothing comes easily. Do not be fixed onto selling your bitcoins the moment it hits a high note since it is very volatile.

A cryptocurrency wallet, comparable to a bank account, contains a pair of public and private cryptographic keys. The keys can be used to track ownership, receive or spend cryptocurrencies.[5] A public key allows for other wallets to make payments to the wallet's address, whereas a private key enables the spending of cryptocurrency from that address.[6] The cryptocurrency itself is not in the wallet. In the case of bitcoin and cryptocurrencies derived from it, the cryptocurrency is decentrally stored and maintained in a publicly available distributed ledger called the blockchain.