In today’s very digital world buying Bitcoin for the younger and more tech-savvy group of people is smooth and easy. We are blessed with lots of great crypto exchanges and handy crypto brokers that let you buy Bitcoin instantly with your bank card. But another interesting area to explore is how to buy Bitcoins with cash?
Because not everyone can always have access to the digital means of buying Bitcoin via digital channels and sites. Not everyone has bank cards or digital bank accounts that they can easily use to buy Bitcoins digitally.
Or there are other instances where buying digitally is either not possible or not preferred.
So in this guide, we will uncover some of the current options for how to buy BTC with cash today.
Bitcoin has become a means of storage of wealth. Transaction in Bitcoin and other cryptocurrencies is what people have got greater than ever attention these days and a lot more people are to it for good reasons.
It has never gained this kind of dominance in business environments. Even though it does not have a physical presence like fiat currencies and other physical assets, it can be bought with these with all ease. And a lot of people don’t realize this.
Bitcoin is an asset that has recorded a
serious bounce back from threats to its value. As the best-performing asset of
2019, buying and selling of Bitcoin is going on every minute—and with cash. Its
prices have more than doubled in the current business year, outpacing many
One of the easiest ways to buy Bitcoin is
by using cash. But it can still be confusing. This article is intended to
eliminate all causes of confusion regarding this. The articles will make buying
Bitcoin as easy as it ever can.
Buying Bitcoin With Cash?
It should be noted that mention made of
cash can have two connotations. It can be physical cash or cash at the bank.
While you can physically hold cash in your hand, bank balances are also
referred to as cash since you can withdraw them or access them electronically
with all ease. Some people have chosen to buy Bitcoin with cash due to different
Anonymity is the number one reason given
by those who have decided to go that way. One valued purpose of Bitcoin
transactions is that they are untraceable. Some are concerned that this can be
somewhat compromised when you use some form of electronic transfer. They fear
to expose their accounts to some form of Internet fraud or are wary of releasing
their account information to hackers. You don’t have to verify your identity by
submitting personal information in most of the exchanges where you get Bitcoin
Buying Bitcoin with cash also makes the
transaction quicker and less cumbersome, especially for beginners. In a couple
of hours, you can have your cash converted to Bitcoin.
Unfortunately, cash transaction with
Bitcoin has its downsides. The price of Bitcoin is significantly high. The
amount of cash needed to buy a small amount of Bitcoin can be huge. So you need
to exercise extra care anytime you are carrying cash as there is the risk of
losing it or contravening the laws on cash limits.
Best options for how to buy Bitcoins With Cash
1 ) LocalBitcoins
Buying Bitcoin with cash through
LocalBitcoins assures you of anonymity. It doesn’t require your detail or
verification. If some sellers request this, you need to be sure of the track
record of such sellers before releasing such information. However,
LocalBitcoins will generally not request such. It charges a 1% fee on every purchase.
LocalBitcoins operates in nearly every country. The amount of buyers and sellers where you live determines its liquidity. To get started with LocalBitcoins click on this link.
How to buy Bitcoins with cash on LocalBitcoins
Below are the steps to be taken to buy Bitcoin on LocalBitcoins with cash:
a seller who accepts cash in your area.
the amount of Bitcoin you need and place your order.
the seller’s account number directly from the seller.
cash deposit cash into the account given to you.
the receipt for the seller to confirm the payment.
your Bitcoins directly in your LocalBitcoins wallet.
of Buying Bitcoin on LocalBitcoins Using Cash
- It’s fast; your Bitcoin will generally be delivered in about 1 hour.
- As an in-person trade, cash transactions don’t require personal information or physical contact.
- The process is easy and straight-forward.
- Buying and selling Bitcoin using cash on LocalBitcoins don’t have any imposed limits.
Read our full review of LocalBitcoins here.
2 ) Wall of Coins
Wall of Coins, however, gives priority to cash deposit as the main payment method.This Bitcoin exchange is a P2P exchange that makes it easy for you to buy and sell you Bitcoin using a variety of payment methods.
Wall of Bitcoins is available in the United
States, United Kingdom, Argentina, Australia, Brazil, Canada, Germany, Latvia,
Mexico, Poland, Philippines, and Romania. It has not stopped extending its
reach. It has over 100,000 locations in the United States alone.
How to buy Bitcoins with cash on Wall of Coins
Here are simple steps to buy Bitcoins with cash on the Wall of Coins:
on “Buy” on the exchange website.
on “Find My Location” or enter your zip code. The exchange uses this
information to help you locate the payment destinations nearest to you where
you will make a cash deposit.
your Bitcoin address (or do that later).
the amount you wish to spend on buying Bitcoin.
on “ORDER” next to your chosen payment destination.
your email so that you could be contacted if necessary and enter your password.
If that’s your first time on the exchange, you have to create an account.
will receive a 5-character Purchase Code from Wall of Coins which you will enter
into the website. After the cash payment details displays, you will receive a
copy of those details via the cellphone number you have supplied.
to complete your payment. This must be done within two hours. Otherwise, you
have to cancel or create new orders later.
the local payment destination to make your payment as you have been instructed
to do. You have to notify the Wall of Coins immediately that you have effected
the payment to avoid short-term or even long-term delays by sending an email to firstname.lastname@example.org, or from their website or by an SMS using the 5-digit
code. Add your phone number in the Subject line.
- You will receive your Bitcoin after Wall
of Coins has contacted the seller to verify your payment. You should receive
your Bitcoin within 15 minutes after your payment is verified.
of Buying Bitcoin on Wall of Coins Using Cash
- There are no official buying limits. You can buy as small as $5 worth of Bitcoin on Wall of Coins.
- It ensures the privacy of the transaction. The phone number and your location are the only personal information you have to supply. This is for transactional purposes.
- Speed: You will get you Bitcoin delivered less than 1 hour; usually within 15 minutes.
- Fees are generally low; they are about 1-2%.
- Excellent customer support is guaranteed as there is a live chatbox on their website where you can readily receive help with any transaction issues that come up during the buying process.
- It enjoys a good reputation, so you can trade with rest of mind.
- It is widely available locally and internationally.
3 ) BitQuick
BitQuick is another popular option for buying Bitcoin with cash. Cash is the most accepted payment method in this exchange. The exchange connects you with sellers who desire to exchange their Bitcoin for cash.
BitQuick is available in the United States only. It, in fact, doesn’t work in New
York because of the BitLicense issue. But the service is excellent in the other
49 states without any issue.
it was hacked in 2016, it has come back stronger and taken the lesson to operations.
How to buy Bitcoins with cash on BitQuick
- Log in to the BitQuick website to find a seller.
- Once the site directs to a seller who needs cash, you start negotiating and till you agree to a price and the amount of Bitcoins available.
- Make a cash deposit to the seller’s bank account supplied by the seller directly on the BitQuick website.
- Upload payment receipt as proof of payment.
- When the seller confirms the receipt of the deposit, he will release the Bitcoin.
- Receive the Bitcoin from the escrow into your wallet, latest in two hours. But in most cases, it is less than one hour.
Benefits of Buying
Bitcoin on BitQuick Using Cash
It is one of the fastest ways to get Bitcoins. You can receive your Bitcoin
within one hour of the transfer.
The process is simple, even for the first-timers.
It’s much physically safer than other cash payment process. The buyer pays
directly into the account of the seller through a bank teller.
Privacy: There’s no physical contact between the buyer and a seller. And no
sensitive personal data other than ID verification is required to be submitted on
the website before the transfer is made.
Its fees are average. It’s just 2% in most cases. Those who benefit more from
this rate are the sellers.
The limits are reasonable. The BitQuick gives the buyers and sellers the liberty
to reach trades and limits agreements.
It has been reputable as a trusted Bitcoin exchange that is security conscious.
When it was hacked in March 2016, it shut down even before the cause of the
hack was fully investigated. And no single customer lost his fund during the
support: This is another great plus as the customer support is available
through social media platforms.
This is another great option to increase your investment in Bitcoin. Avail yourself of any of the options to purchase the number one digital currency using cash.
As Bitcoin is still the by far the most popular cryptocurrency in the world there wil be more options to buy it using either cash, card or in another way.
As more cryptocurrencies become more popular these features and options to buy them using varied payment methods will increase.
We hope that this guide to how to buy Bitcoins with cash was helpful. As every if you are unsure about anything in this guide, or just in general, then feel free to leave a comment below. Or get in touch with us via this page.
If you one day want to buy Bitcoin using digital means. Then we have written several guides on this matter. For example how to buy Bitcoin using PayPal, to how you can buy Bitcoin with a bank account and also how to buy Bitcoin using your bank card (i.e. credit card or debit card).
Find other guides
- How to buy on Binance
- What crypto markets caps are
- Most profitable staking coins
- How to short Bitcoin
Per Englund – Founder of Go CryptoWise a cryptocurrency and tech fan that want to see better and smarter products and services that make our lives better and easier