Although Bitcoin wallets and exchange sites ensure excellent security, it is always preferred to store your Bitcoins in a hard wallet or a paper wallet. The time required to receive Bitcoins depends on the Bitcoin network. LocalBitcoins, a peer-to-peer platform was established in the year and serves its users across the globe. The site is an efficient and reliable escrow system with an excellent security set up. The first step is to enter the approximate amount that you are ready to spend on Bitcoins. Just like any information you give up online, there is always the risk that it can be hacked or stolen from the website you give it to. There is no registration or verification needed till a certain amount, and the user experience is very friendly.