Buying bitcoins with cash can happen? Yes, it is the reality to buy bitcoin with cash. It is a fast and easy step to buy bitcoin with cash. Before getting into the topic, let me give you the quick introduction of bitcoin. Bitcoin is a cryptocurrency and worldwide payment system. The first decentralized digital currency works without a central bank or a single administrator. The network is peer-to-peer and transactions take place between users directly, without an intermediary. These transactions are verified by network nodes through the use of cryptography and recorded in a public distributed ledger called a blockchain.
Now you have understood what is the concept of bitcoin so the next question is how to buy bitcoin with cash? There are several ways to buy bitcoin with cash payment method. This method has several pros and cons and you must know before buying bitcoin.
It is private, fast and easy.
For trading, require no personal information.
Purchases of bitcoin can be made quickly via cash deposit.
Beware of scams; always follow the rules!
Difficulties in buying large amounts of bitcoins compared to large exchanges.
Significantly higher prices than regular exchanges because of the premium for higher privacy.
Methods for buying Bitcoin with Cash:
Buying Bitcoin with cash In-Person:
If you any local trader or a person who sell bitcoin, here is the answer to the problem. Meet this person, buy bitcoin and don't forget to install bitcoin wallet. If you don't know any trader or person then search a specific website where you can search local bitcoin buyer for personal trading like LocalBitcoins, Mycelium etc. To find local trader visit any website that I have mentioned and sign up on this website. Enter your location, amount and choose the payment method as cash. The sellers list will display the number of successful trades, as well as the feedback score for each. If possible, choose a seller with many trades and a positive reputation. After selecting a seller, enter your desired purchase amount, which must fall within their limits. Arrange your meeting via messages and meet this person personally.
Choose Bitcoin ATM (BTM):
Bitcoin ATMs are a convenient way to trade 24/7 than meeting with a bitcoin seller. With the help of the website coinatmradar.com, choose Bitcoin ATM near to your location and take money and id proof (if required).When you go to the BTM, remember to also take your Bitcoin wallet or address!
Buy Bitcoin by depositing Cash in a Bank:
This is another and most simple method to buy bitcoin. This method is more reliable and physically secure than meeting with a stranger. Several websites like paxful, local bitcoin etc are available on the internet which tells you the list of sellers who provide their bank details and accept money on their bank account directly. You then visit the relevant bank and fill in a deposit form. Sellers may specify a particular bank.