Today we’re making a few changes to the dispute system to improve and simplify the trading experience on LocalBitcoins. From now onwards dispute times have been lowered to 12 hours for both buyers and sellers. Against new users with few trades, sellers can start a dispute after one hour.
Before today, buyers had to wait 24 hours before they could open up a dispute against an unresponsive seller and sellers had to wait 72 hours before they could open up a dispute against a buyer. This meant users had to sometimes wait several days before a resolution to their dispute could be made. Now, the process will be much faster.
We hope these changes will provide for more frictionless trading on LocalBitcoins and improve the liquidity of traders. We’ll be looking closely at the effects this change will have over the next few weeks, your comments are also greatly appreciated. Based on this we will evaluate further changes to the dispute process.
– The LocalBitcoins team