How To Buy Bitcoin With Cash

Bitcoin is a famous digital currency that has become popular over the last ten years. Due to it, a lot of ways to buy this coin appear. In this article, we take a detailed look at these methods and provide you a guide on how to buy Bitcoins with cash.

Pros And Cons Of Buying Bitcoin With Cash

Pros and Cons
BenefitsNo fees. The buyer and seller will not be charged transaction fees, which are usually charged by banks for online purchases. It maximizes profits from cryptocurrency trading, especially if you need to make purchases frequently.Lack of limit on the transaction amount. Both the buyer and seller can make a transaction for any amount. For example, there are no restrictions related to the set-up algorithms.The ability to choose the transaction terms. The buyer and seller can choose the appropriate time and place of the transaction themselves. In this case, they have an opportunity to adjust the terms according to their schedule.Security from online fraudsters. By buying Bitcoins with cash, you leave no digital footprints. That is a great way to purchase crypto if you don't trust online methods.
DrawbacksThe risk of cooperating with a scammer. Although you are protected from account hacking, when paying offline, there is also a risk of being cheated by unscrupulous traders.Inconvenience of carrying. Cash can be cumbersome to transport and handle in general, especially if transactions are made with large amounts of money. It’s also fraught with the risk of losing money.The danger of theft. In addition to the inconvenience of handling physical money, its use can be risky: the funds can be stolen by criminals.Spending more time. The buyer and seller may spend more time traveling, meeting, and completing transactions than if they were to do so online. There may also be additional costs associated with it.

When you know the pros and cons of buying Bitcoin for cash, you can move on to choosing the method that suits you best. There are several ways of purchasing crypto with cash that include buying in person, using the post, the bank account or crypto exchange and Bitcoin ATMs. All of them involve interacting with physical money, but differ in the algorithm of actions. Let's take a closer look at each method.

How To Buy Bitcoin In Person

The easiest way to buy Bitcoin with cash is to buy it from someone directly. In this case, you can negotiate optimal terms for buying crypto: for example, there can be no commissions. If buying from acquaintances is not your option, then try to attend Bitcoin meetups, where you can exchange cash for crypto making a deal with other participants. Another option is to visit Bitcoin conferences. There you are guaranteed to meet people who can always sell you some BTC for cash.

How To Buy Bitcoin Using The Post

Some people choose to send cash for Bitcoin to the seller using the post. This method is preferred by those who want to keep their transactions private and avoid personal interaction.

First, you need to find a reliable seller who accepts cash as a payment method. He can be found on online marketplaces and thematic forums. When you have found the seller, you can discuss the transaction terms: the amount of Bitcoins, its exchange rate and the recipient's post address. After that, prepare the cash by packing it securely — it will prevent the funds from being damaged or stolen. Now you can send the package to the specified address and confirm receipt of the Bitcoins when they will be credited to your digital wallet.

How To Buy Bitcoin Using Bank Account Or Crypto Exchange

In this case, you need to deposit cash into a bank account. You can make it at a bank branch with the help of an employee or by an ATM. When the funds are deposited into the bank account, they can be transferred to the seller's account, but a more reliable way is to link the bank card or account to the cryptocurrency exchange platform as a payment method.

To buy Bitcoins using a cryptocurrency exchange, try Cryptomus P2P. The platform accepts over 300 payment methods, including bank cards and various payment services. You can choose the most suitable Bitcoin ad for yourself and start making a deal with the seller. What is more, Cryptomus P2P can be the cheapest option to buy Bitcoins as it has low commissions for buying — it’s only 0,1%.

How To Buy Bitcoin From ATMs

Bitcoin ATMs are similar to fiat ones. They allow you to buy Bitcoins by depositing cash directly. You may be required to complete an identity verification before start — it depends on the ATM operator. Verification includes entering a phone number, scanning your ID or even providing biometrics. After that, you can begin the purchase: select “Buy Bitcoin”, deposit cash, enter your wallet address and confirm the transaction.

How To Buy Bitcoin With Cash

Bitcoin ATMs can be extremely rare to see. To find out where the nearest Bitcoin ATM is, you can use the Coin ATM Radar service. It contains information about all cryptocurrency ATMs and even allows you to check the reserves of each one.

Tips For Secure Buying Bitcoin With Cash

In order to buy Bitcoins with cash securely, follow the tips we have prepared for you:

  • Look for sellers only on the reputable platforms. To buy cryptocurrency safely, choose a seller on trusted platforms that care about its users' protection. Ask around your acquaintances, study other users' reviews and learn the working base before using.

  • Pack your cash carefully. For better protection against damage and theft, you should pack your money securely. It is needed for your money to be defended when it is posted or carried to an ATM.

  • Use two-factor authentication on exchanges. If you have chosen a P2P platform to buy Bitcoin, make a strong password and enable two-factor authentication to ensure a better protection of your account and transactions. This feature is available, for example, on the Cryptomus exchange. On this platform you also may find specific icons near sellers usernames that confirm their verification, so you can be sure of their reliability.

  • Utilize only safe Internet connection. If you are transacting online, you need a secure connection. Try to use a wired connection if possible and enable VPN. This way your personal information will be protected from hacking.

Buying Bitcoin with cash provides convenience, privacy and cost-effectiveness. But the choice of method still depends only on your priorities and preferences. Nevertheless, you should always consider the risks and provide the security of your purchases.

Thank you for reading! We hope this article helped you understand how to buy Bitcoin with cash, and now you know exactly which method will be optimal.

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