Bitcoin is the most popular cryptocurrency in the world, and for good reason. It has a number of advantages over traditional currencies such as ease of use, anonymity, and decentralization. However, it’s not easy to buy bitcoin with cash or cash deposit.
The buy bitcoin with paypal is a method of buying Bitcoin that allows you to purchase the cryptocurrency without having to go through an exchange.
Do you want to purchase Bitcoin with cash?
Yes, you certainly can.
One of the quickest and simplest methods to get Bitcoin is to use cash or a cash deposit (BTC).
It’s private, quick, and secure.
And if you understand how it works, it’s pretty easy.
On bitcoin exchanges, you don’t have to go through a long sign-up and ID verification procedure.
Furthermore, it is not necessary to have a bank account to trade.
We’ll teach you how to purchase bitcoin using cash as part of our ongoing series on how to buy bitcoin (any country).
If you’re new to cryptocurrencies, you may want to look at the following options for purchasing Bitcoin:
Important: You’ll need a Bitcoin wallet before you purchase your first Bitcoin.
What if you don’t have a wallet? Check check our Bitcoin wallets guide.
How to Purchase Bitcoin Using Cash
1. Sites for peer-to-peer trade
LocalBitcoins and Paxful, for example, are peer-to-peer (P2P) marketplace systems that make it simple for Bitcoin vendors and buyers to connect. Furthermore, they provide escrow services to safeguard both parties.
They will first hold Bitcoin from the seller before releasing it to the buyer after the seller verifies payment has been received.
On this P2P service, you may purchase Bitcoin with cash in a variety of ways:
- Buying Bitcoin in person with cash
- Purchasing Bitcoin using cash from a bank account
- Purchasing Bitcoin with cash via the mail
2. Purchasing Bitcoin via Bitcoin ATMs
If you aren’t very tech-savvy or don’t have access to a bank account, purchasing bitcoin with cash from a Bitcoin ATM is a viable alternative.
When you put cash into a Bitcoin ATM, the machine will send Bitcoin to your Bitcoin wallet.
The Best Methods for Buying Bitcoin with Cash or a Cash Deposit
LocalBitcoins is first on the list, since it is the most popular peer-to-peer Bitcoin trading platform.
LocalBitcoin has discreetly eliminated cash in-person trade as a payment option, meaning you can no longer locate someone and meet up with them in person to exchange cash for Bitcoin.
However, you may still purchase, sell, and exchange Bitcoin with individuals all around the globe using a variety of payment methods, including cash deposits.
Purchasing Bitcoin with a cash deposit ensures that money is exchanged at a bank, making it a safer transaction than meeting with a stranger. You can prevent being cheated or robbed by using LocalBitcoins as an escrow service between traders.
Still, it’s a good idea to do your homework and only deal with trustworthy vendors that have a proven track record.
Before you begin, you should be aware that LocalBitcoins does not offer a set market price. The price must be agreed upon by both you and the Bitcoin vendor. LocalBitcoins only allows prospective buyers and sellers to trade directly.
LocalBitcoins has two excellent features:
(1)They have a big active user base – over 1 million people can help you discover the best price.
(2) It is totally free to buy and trade Bitcoin. LocalBitcoins charges just 1% commission to sellers who post ads and successfully complete trades.
Let’s look at how to purchase Bitcoin with cash on LocalBitcoins:
1. Register for an account.
Go to the official LocalBitcoin website and create a free account using your email address.
(This is optional, although it is strongly encouraged.) To make your account more secure, use two-factor authentication (2FA). Check out this article if you need assistance.
2. Look for a cash-only vendor.
Choose your nation and currency, then click “Search” and choose “Cash Deposit” as a payment method. According to your search, LocalBitcoins will offer you a list of suitable vendors right away.
3. Choose your preferred vendor.
Spend a few minutes now looking through the list for a reputable vendor. Because you’ll be dealing with a stranger, select a trustworthy vendor.
Go to the trade name’s profile, look at their rating and conditions, and read the individual feedback remarks.
Always choose a vendor with a solid track record and a big number of transactions.
The Price/BTC column displays the asking price for 1 Bitcoin (BTC), while the Limits column gives the seller’s minimum and maximum USD (or other local currency) acceptance.
4. Make a purchase
Each vendor has their own set of terms and conditions. Some don’t need you to prove your identity with a picture and document, while others do.
Before you place an order, make sure you read, understand, and agree to the conditions of trade.
5. Make a cash deposit into the seller’s bank account.
The seller will offer you an account number to make a cash deposit after they accept your trade request.
The seller’s bitcoins are already secured in the LocalBitcoins escrow system, so you can be confident you’re receiving a genuine transaction.
Follow the seller’s instructions and deposit the specified amount of money into the designated account number within the payment window.
6. As evidence of payment, provide your deposit receipt.
Upload the bank slip to prove that you made the deposit after transferring cash to the seller’s account.
7. Get paid in bitcoins
You’ll get the Bitcoin in your LocalBitcoins wallet after the seller confirms receipt of your funds.
Paxful is a peer-to-peer cryptocurrency exchange for Bitcoin sellers and buyers that was founded in 2015.
Paxful, like LocalBitcoins, is an escrow service that allows users to locate, meet, and exchange bitcoins directly with one another without fear of losing money.
Paxful is unique in that it accepts over 350 different payment methods, including:
- Cash deposit: Make a cash deposit into the seller’s bank account.
- Meet the vendor in person and pay cash.
- Cash via mail (not recommended): You must send the seller actual cash. It’s sluggish and dangerous, particularly if you’re dealing with a big amount of money.
- and much more!
That’s true, you can locate a vendor in your neighborhood, meet with them, and immediately exchange cash for Bitcoin.
A word of caution: If you’re going to meet a seller, be extra cautious, meet in a public location, double-check that you received your coins in front of the seller, and educate yourself on cybersecurity.
What’s the greatest part? Purchasing bitcoin on Paxful is completely free.
Let’s get started:
On Paxful, here’s how to purchase bitcoins with cash:
1. Create a user account.
Go to Paxful to get started. Enable Two Factor Authentication after creating a free account (2FA).
2. Look for a decent bargain
Choose “Cash” as your payment option and enter the amount you want to purchase in your local currency. There are over 55 monetary choices, as seen in the picture below. Select the cash payment method that best suits your needs and then click “Search for Offers.”
3. Select your chosen vendor.
Paxful will provide you with a list of real-time offers from merchants willing to take cash in exchange for Bitcoin.
Look through the list of vendors, read their profiles, and learn about their offer conditions, feedback history, and purchase limitations. When you’ve found a reputable vendor, click “Accept conditions and purchase bitcoins immediately.”
And Paxful will keep the Bitcoin that the seller has given them.
4. Finish the transaction and you’ll get your Bitcoin.
The majority of merchants will provide their phone number on the offer page.
Contact the seller and arrange a meeting time and location.
Pass the cash to the seller, complete the transaction, and the escrow coins will be instantly released to your wallet.
BitQuick is a well-known cash-for-bitcoin service that specializes in buying and selling Bitcoin using cash deposits exclusively.
BitQuick, like P2P platforms like LocalBitcoins and Paxful, connects buyers and sellers of Bitcoin and offers an escrow mechanism to safeguard both parties until the transaction is completed, but the similarities end there.
To begin with, BitQuick is not a worldwide company. It is only effective in the United States (excluding New York).
Second, you won’t have to manually weed out vendors who will take cash in exchange for their Bitcoin. In only one click, BitQuick will offer you trustworthy vendors with the greatest pricing.
Third, BitQuick trading is not free. You’ll have to pay a 2% service charge and a 0.0001 btc mining cost for each transaction because of its high speed and simplicity of usage. However, it is still less expensive than purchasing via traditional crypto exchanges like as Coinbase.
BitQuick is a service that allows you to purchase Bitcoin with cash through a cash deposit. It enables you to buy bitcoins valued $2.50 to $9,999 in under three hours, with an average processing time of 32 minutes.
Furthermore, you do not need to validate your personal ID if you are purchasing bitcoins valued less than $400.
The following is how it works:
Step 1: Go to the BitQuick website. Click “Continue” after entering the quantity of bitcoins you wish to buy.
Step 2: Pick the deal that gives you the most bang for your buck.
Step 3: Enter your phone number and your Bitcoin wallet address to get your money.
Step 4: Go to the sellers’ bank’s local branch. Fill out a deposit form and put the entire amount of money into their account in cash.
Step 4: Use the link in your email to upload the receipt.
Step 5: Keep an eye out for your coins. Once payment is received, the seller will release Bitcoin from the escrow.
Another excellent peer-to-peer Bitcoin network is Wall of Coins, which links you with vendors that take cash in exchange for Bitcoin. It is accessible in the following countries: the United States, the United Kingdom, Canada, Australia, Brazil, Mexico, Romania, Germany, Poland, Argentina, Latvia, Poland, and the Philippines.
What’s wonderful about Wall of Coins is that you can buy and sell Bitcoin without having to register. Throughout the whole purchasing procedure, you remain anonymous, and your coins arrive within 15 minutes.
Sellers will have no idea which bank you choose to transfer money to, providing you more anonymity.
It’s simple, secure, and confidential.
The main drawback to utilizing this cash deposit service is that it is only accessible during banking hours.
This is a step-by-step tutorial to buying Bitcoin on Wall of Coins using a cash deposit.
1. Look for the best price possible.
You don’t need to establish an account; all you need is your phone number.
Simply go to the Wall of Coins website and choose “Buy.”
Click “Discover My Location” to find the best price near you.
2. Enter the address of your Bitcoin wallet.
You may skip this step and provide the address later if you don’t have a Bitcoin receiving address or are unsure which address to use.
3. Make a purchase
Click “Next” after entering the amount of cash (local currency) you want to spend to buy Bitcoin.
Choose the payment location that provides the greatest value and is the most convenient for you to make the cash payment from the list. To continue, click “Order.”
4. Obtain a code of verification
Please enter your email address (optional). If you don’t provide your email address, they will contact you if there are any delays.
You’ll be given a 5-character Purchase Code, which you must input on the website. The cash payment information will be provided by Wall of Coins.
You’ll get a copy of this payment information on your phone as well.
5. Make a cash deposit into the seller’s account.
Within two hours, go to a nearby payment location and put cash into the specified bank account.
Don’t worry if you forget to deposit money; you have the option to cancel the transaction. There are no repercussions. You may place a new order at any time.
6. Get your Bitcoins
Send a photo of your deposit receipt to support after you’ve made the payment. After payment is verified, Bitcoin is transferred to your wallet.
Buying Bitcoin with cash at ATMs is arguably the quickest and simplest method to do it without having to provide any identification.
Bitcoin ATMs work similarly to conventional ATMs, except instead of dispensing your country’s currency (USD, AUD, EUR, etc.) through your debit card, they transfer bitcoins straight to your crypto wallet when you enter fiat cash. You may also sell your bitcoins on certain Bitcoin machines.
Bitcoin ATMs come in a variety of shapes and sizes, and are made by a variety of businesses. Depending on the equipment and operator, some may not need identification verification prior to purchase.
You may purchase bitcoins with cash in a simple and confidential manner this way.
However, the transaction charge is very expensive. Bitcoin ATMs often charge 7-12 percent for purchasing and selling bitcoins. It is critical that you understand this before buying bitcoins using an ATM.
Find a Bitcoin ATM near you by using our map of Bitcoin ATMs.
Follow the simple steps below to start looking for a Bitcoin ATM near you:
- Go to Coin Radar to view a live map of Bitcoin ATMs across the globe.
- Simply input your city/address and hit the enter key. For instance, in the search box, I typed in “New York.”
- Select a Bitcoin ATM in your area and click to learn more about it.
- With Google maps, click “Obtain Directions” to get the precise position and directions to your destination.
- Optional: To discover more about the Bitcoin ATM operator, including user comments, operating hours, and company name, click “View listing.”
Now that you know where to look for a Bitcoin ATM, let’s look at how they operate and how to use them to purchase and sell bitcoin.
(B) Using a Bitcoin ATM to Purchase Bitcoin
The purchasing procedure may differ from one Bitcoin ATM to the next. The typical procedure at most ATMs is as follows:
1. Select “Buy Bitcoin” from the drop-down menu. If necessary, confirm your identification.
2. Enter your bitcoin address to make a deposit.
3. Use the Bitcoin ATM to deposit cash bills.
4. Confirm the total and finish the transaction. Your bitcoin will be sent to your wallet immediately.
It’s something I’ve stated before, and I’ll say it again.
Don’t keep your Bitcoin on a cryptocurrency exchange.
If you want to retain your Bitcoin for a long time, don’t utilize the exchange’s free wallet.
After you’ve completed a transaction, always transfer the money to your own wallet.
It is very dangerous to leave bitcoins on exchanges!
With more than $9 million lost every day due to cryptocurrency hacks, scams, theft, phishing, and frauds, it’s more important than ever to protect your valuable Bitcoin in your own Bitcoin wallet, such as the Ledger or the Trezor.
So there you have it! You should now be able to buy any quantity of Bitcoin with cash or a cash deposit in any nation, immediately, securely, and quickly!
- LocalBitcoins — The most popular peer-to-peer (P2P) exchange for purchasing Bitcoin (BTC) using cash.
- Paxful — Trusted peer-to-peer Bitcoin exchange with 55+ cash alternatives, including cash in person, cash deposit, and cash by mail.
- BitQuick – Only in the United States can you buy Bitcoin with a cash deposit.
- Anonymous – Wall of Coins Without providing any personal information, you may buy Bitcoin with a cash deposit.
I hope this post has answered some of your questions regarding purchasing Bitcoin with cash.
Choose a site and begin by purchasing a modest quantity of Bitcoin. You may buy greater amounts of coins with cash after you’re comfortable with the procedure.
The more you use it, like with most other websites, the more proficient you will become.
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If you are looking to buy Bitcoin with cash, there are many ways to do so. One way is through the how to buy bitcoins with cash app.
Frequently Asked Questions
Can I use cash to buy Bitcoin?
No, you cannot use cash to buy Bitcoin.
How can I buy bitcoins at Walmart with cash?
How do I buy Bitcoin with cash at ATM?
You can buy Bitcoin with cash at ATM through the use of a Bitcoin ATM.
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