We are selling bitcoins on Mycelium Local Trader

Mycelium Local Trader photo109707136076982263

Mycelium Local Trader is an awesome bitcoin wallet/trading app on Android and if you want bitcoins, then read on:

How to Buy/Sell bitcoins on Mycelium Local Trader?

1. Download the app: http://www.mycelium.com/lt/help.html
2. Start the app and you’ll see the Balance tab.
3. Tap the Buy/Sell Bitcoin button on the bottom
4. Under the BUY BITCOIN tab, look for our username: Bitcoinmalaysia with the email: admin@bitcoinmalaysia.com
5. Click BUY
6. Enter amount to trade (in MYR)
7. Accept offer
8. The rates will be updated every few minutes.


When I buy coins, which address am I receiving my coins on?

You receive your bitcoins to the address that was selected in your wallet when you initiated the trade. If you have not created any additional addresses (requires expert mode to be enabled) you will always receive them to the same address.

When I sell coins, which address am I sending coins from?

When sending coins with Mycelium, you always use the currently selected address. You can change your address in the Keys tab if you have expert mode enabled. If you do not have expert mode enabled, you will always send bitcoins from the same address. In the future, we may add the option send directly from cold storage when conducting a trade.

How do I know that the seller has the coins?

The wallet will not allow the seller to accept a deal if the wallet does not have enough coins. This is enforced by the seller’s wallet software. In the future, the seller’s wallet will be able to send a bitcoin signed message using the keys that he is going to send the coins from to provide hard proof that the seller has access to the coins before you meet.

What is the “Transaction Confidence” bar?

Although over the long run it takes an average of 10 minutes for a bitcoin transaction to confirm, sometimes this could take a minute and sometimes it takes an hour. Since this is the last step in doing a trade, it can be quite tedious to wait for this confirmation. To alleviate that, Local Trader displays the transaction confidence as a number between 0% and 99%, which gives you a hint at how likely it is that the transaction will ever confirm. However, keep in mind that it is not possible to guarantee 100% that a transaction will confirm until it actually happens. When considering whether or not to wait for the transaction to confirm, take many factors into account, such as whether or not you know the trader, have done business with the trader before, the trader’s rating, etc. The transaction confidence is just one of many factors. If you are in doubt wait it out.

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