Is it right to buy Bitcoins using cash? The truth is that there are many advantages of buying this crypto coin with cash. Unlike regular exchanges, cash transactions will not require you to reveal personal details and submit ID verification documents. This makes Bitcoin buying with cash much safer. It is also a faster option because you do not have to wait for bank transfers to arrive or exchanges to verify a transaction. Check out https://coincierge.de/bitcoin-future/ for more details.
6 Ways by Which You Can Buy Bitcoins Using Cash:
- Cash in-person: When you have friends you can trust and if they are willing to sell some of the Bitcoins they own, you can approach them. It is best to find such contacts or friends through Bitcoin meetings and conferences in your region. You will find locations of such conferences on Facebook where you can identify local Bitcoin groups. You must however have a laptop pre-installed with a wallet before such a transaction.
- Besides LocalBitcoins there is Paxful now which offers buyer-seller matching services. To buy Bitcoins on Paxful, you can visit the site to sign up. You may then click on the “Buy Bitcoin” option in the menu and enter your location, amount you want to buy, and select “cash” as your preferred payment method. You will find a sellers list here; it also shows feedback score for each seller and the exchange rate. You should select a seller having a solid reputation. The details of the trade can then be handled through messages. Have a look at this the ultimate bitcoin trading app review to get started with automated trading.
- LocalCryptos is a P2P marketplace in which buyers and sellers can meet online to buy and sell their Bitcoins. You can buy Bitcoins here using multiple methods, including cash of course. You must first agree with the seller you choose that you will only take payments in cash; this may be cash by mail, in-person, or cash deposit in the bank account of the seller.
- LocalBitcoins has always been a popular marketplace for buying and selling Bitcoins with cash. Here also, you can connect with sellers and agree to the terms of payment and price. You then simply have to follow the steps stated online. LocalBitcoins are there in almost every country and the number of sellers and buyers where you reside determine its liquidity. You have to choose a seller in your neighborhood who is willing to accept cash. You then have to type in the amount of Bitcoins you need and submit your order. You must pay a cash deposit into a bank account provided to you. Once this is done, you have to upload the receipt so that the seller can view this and payment is confirmed. The Bitcoins are received directly into the LocalBitcoins wallet.
- BitQuick: This is yet another popular way of buying Bitcoins using cash. This exchange will connect you with all sellers keen to exchange their coins for cash. This facility is however available only to US residents. You simply log in to find sellers, start negotiations, and agree to a final price. You must then make a cash deposit in the seller’s account that is mentioned on the website. Once the payment receipt is uploaded and payments confirmed, the seller releases the Bitcoins.
- Finally, you can buy Bitcoins from Bitcoin ATMs and these allow you to get Bitcoins any time of the day or night. You can identify the ATMs in your region using CoinATMRadar. Before going to these you must have a wallet in place.