How to Buy Bitcoins with Cash? [4 Methods]

How to Buy Bitcoins with Cash? Bitcoins are now available for purchase by a variety of methods:

  • They can be purchased using a bank transfer or debit card purchased from Cex.io, Coinmama, and numerous others.
  • You can purchase them through PayPal, Payoneer, and other payment platforms online.

And…

  • Bitcoins can also be purchased with cash.
Website detailKYC is Required for cash transaction
LocalBitcoinUnknown
PaxfulYes (verify)

What is the reason to buy Bitcoin in cash at? It’s a private transaction, generally quick, and is one of the most convenient methods of acquiring Bitcoins. If you’d like to trade Bitcoin in exchange for cash, this guide can help as well. Discovering ways to purchase Bitcoin and sell it for cash.

Why would you want to buy bitcoin using cash at all? It’s safe quick and easy and is one of the most convenient ways to earn bitcoins. If you’re interested in buying and selling Bitcoin in cash The following guide will be able to assist you.

How to Buy Bitcoins with Cash? In this guide, I’ll show you the exact steps to follow to purchase bitcoins within your country using cash. This method is suitable for all nations around the world.

A word of caution It is recommended that you have a basic knowledge of Bitcoin to make sure you’re completing the transaction safely, smoothly, and safely.

Why are people willing to buy or sell bitcoins for cash? There are a variety of reasons. One of them is that buying cash on P2P marketplaces offers more security.

When you purchase bitcoins via an exchange or Bitcoin website You hand over your personal information to be able to fill out the company’s KYC (know the identity of your client).

This eliminates the anonymity that is inherent in Bitcoin payments (which is among the primary reasons for the existence of Bitcoin). When you buy from an independent vendor, your transaction will be 99% more private than purchases on other websites.

How To Buy Bitcoins With Cash (and Where To Buy Bitcoins With Cash)

There are many ways to buy bitcoin using cash. It is possible to do this using:

  1. Peer-to-peer (P2P) exchanges
  2. Bitcoin ATM’s
  3. Buy bitcoin with cash in person
  4. Cash deposit service

Let’s take examine each of these possibilities.

1. Buy Bitcoin with Cash Using P2P Exchanges

P2P exchanges provide a comfortable and safe way to purchase bitcoins using cash since they serve as an escrow system. All you have to do is sign-up to find a trustworthy nearby BTC buyer or seller who is willing to do business in cash and organize the other details of the transaction, like the time and location of your meeting.

The most well-known Bitcoin P2P exchanges are:

Bisq, Paxful, LocalCryptos as well as all the other P2P platforms in this list let you buy bitcoin using cash, and other alternatives.

Additionally LocalLightning, the LocalLightning platform lets you purchase and sell bitcoins in cash, using an ever-growing Lightning Network.

MyCellium Local Trader is a component of the renowned Bitcoin wallet Mycellium It allows you to find local bitcoin traders that want to work with cash. It also is an escrow agent.

2. Buy BTC with Cash Using Bitcoin ATM

Another method of acquiring bitcoin using cash is by using one of the numerous Bitcoin ATMs.

There are numerous Bitcoin ATMs across the world, but we suggest using those provided by CoinFlip since they manage one of the biggest networks in the United States. Bitcoin ATMs within the United States.

They charge the least fees provide 24/7 customer support offer the best amount of purchases and are usually accessible. Additionally, CoinFlip Bitcoin ATMs are extremely quick, meaning you’ll get your bitcoin within minutes of completing the transaction.

There is a way to visit this link for the nearest Bitcoin ATM in your area.

The typical method of purchasing bitcoin using cash at an ATM Bitcoin ATM goes like this:

  1. Find a Bitcoin wallet. Any Bitcoin wallet can be used but using a mobile wallet, such as Samourai Blockchain.info, Jaxx, Mycellium, or even paper wallets are the most efficient method. If you’re looking to ensure the security of your cryptocurrency using a physical wallet, one such as Trezoror Ledger can do.
  2. Find the closest Bitcoin ATM using a service like CointATMradar, or any other comparable Bitcoin ATM map.
  3. Make an order. Enter your machine, and then follow the instructions. Choose Bitcoin as the currency you prefer and then confirm your purchase. Keep in mind that some ATMs will request verification of your identity or verify the number of your phone.
  4. Scan the QR code and then complete the purchase. Open your BTC bank account, and scan your key by using the camera of the ATM. Inject cash into the machine, and pay for the purchase.
  5. Get bitcoins into your account. When your transaction is verified and you be able to receive BTC in your bank account. That’s it! You’ve just purchased your bitcoins using cash.

Be aware of the high Bitcoin ATM transaction fees. In certain instances, fees for transactions can be 7-15% or higher. As of now, CoinFlip charges 6.99% of the amount that a transaction purchases, and 3.99 percent for sales.

If you don’t reside within the United States or can’t find a CoinFlip Bitcoin ATM in your area then you can find the nearest one by using CoinATMradar.com or a similar map on the internet.

3. Buy Bitcoin with Cash in Person

If you do not want to depend on third-party solutions, the best choice is to find someone to manage your affairs. Place ads on local advertisement boards or websites, social media as well as forums. You can also ask your peers.

Alternatively, you could go to any of your nearby Bitcoin meetups (check websites for example meetup.com) and meet other like-minded people. Perhaps some of them wish to buy or sell bitcoin for cash.

Remember that safety is always the first priority. Do not reveal your name or address in the advertisements since the reputation of holding bitcoin is becoming riskier.

Keep your appearance low-key, and accept a meeting with someone else in a secure public place, like an area coffee shop, bank, or mall, as well as other places where there are many people.

4. Buy BTC with Cash Using the Cash Deposit Service

Certain Bitcoin trading platforms give you the option to deposit cash directly into the service’s or seller’s bank account. The services offered include:

  • LocalBitcoins
  • Wall of Coins
  • Paxful
  • BitQuick

Overall, purchasing Bitcoins through cash can provide greater privacy and security in comparison to exchanges that are centralized However, you need to be wary of scams, fraudsters, and scams. Before you meet a vendor make sure you read the reviews and feedback of past customers.

Can You Buy Bitcoin in Cash?

It all depends on the way you deal with cash. It is important to make sure you’re meeting with sellers in a public space and that you are sure that the seller is trustworthy.

How to Ensure Security When Dealing with Cash for Bitcoin Transactions?

If you’re purchasing Bitcoin by cash, be sure that you create an account with a new address for your wallet. This way, the buyer cannot know the actual ownership of your account.

Nowadays, the top Bitcoin wallets allow you to create an unlimited number of addressees This way, you can guarantee the security of your bitcoins.

Comment below if are interested in learning more about various methods to buy bitcoin.

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Dibyajyoti Bordoloi is the founder of VanceStaffing.Com. Being a stock trader and investor, he has over 15 years of experience not only trading and investing in various Stocks, Crypto, Commodities, and Real Estate but teaching non-technical traders and investors like you how to do it the right way. He is a B.Com graduate (honours in Accounting and Finance) from Guwahati University. He is also a Practicing Company Secretary, passed out from The Institute of Company Secretaries of India; Guwahati Chapter.