You have a couple of options when buying Bitcoins: Cash, credit cards, bank transfer, Bitcoin ATMs or cash. Some people like to buy Bitcoin with cash because it’s fast, private and the easiest method to acquire Bitcoins. Most exchanges that allow cash purchases don’t compel you to provide your details to be able to buy Bitcoins. But you must have a Bitcoin wallet to be able to buy Bitcoins with cash. These are some of the popular exchanges that let you buy Bitcoins with cash:
You can buy Bitcoins with cash on BitQuick
This platform connects you with Bitcoins owners who want to exchange their Bitcoin for cash. However, BitQuick is only available in the United States. To buy bitcoins with cash on BitQuick, you will have to find a seller and come to an agreement with them about price. You can then make the cash deposit by heading to the seller’s bank and depositing the money in their account. You’ll then need to upload and transmit the receipt to the seller as proof of payment. Upon verification of the deposit, the seller will transfer the Bitcoins to you.The good thing about Bitcoin cash purchases is that they happen within two hours. The downside to BitQuickis that buyers are charged 2% fee for each transaction, which may be too much.
Buy Bitcoin with cash on LocalBitcoin
Here, you can physically trade cash with the seller or deposit the money in their bank account. But you’ll first have to search for a Bitcoin seller who wants cash. You’ll then place your order. The seller will then send you their account number. You can then deposit the cash in the seller’s bank account. Upload and transmit the receipt to prove that you’ve deposited the money. The seller will finally release the Bitcoins to you. The upside to LocalBitcoin is that transactions can happen in a matter of hours. The downside to LocalBitcoin is that you can be scammed if you don’t follow the rules. It’s difficult to purchase large amounts of coins with cash compared to Bitcoin exchanges.
You can buy Bitcoin with cash through Bitcoin ATMs in your locality. The fees are much higher compared to other bitcoin cash purchases. Expect to pay transaction fees of between 5 and 10%. However, people are willing to pay that much as long as their identities remain private and they don’t have to undergo rigorous verification processes.