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10 Ways to Buy Bitcoin with Cash in 2020

Talking about cryptocurrency and how to purchase them, people can often hear and get familiar with trading and exchanging platforms, as a one way to do so. On some sites, there is an option for debit or credit card payments, but even then, you still have to wait a certain amount of time for completing the transaction. Although there are many great platforms for trading cryptocurrency, with excellent trading tools, those platforms can also be tricky and hard to understand, especially if you are new to all of this, and people often quit even before they start investing in Bitcoin.

But what if there is a more direct method, where you can obtain Bitcoin more simply? Here, in this text, you will find ten ways to buy bitcoin with cash, without any delay, and with any fiat currency.

1. Buying Bitcoin with cash in person

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For those who want to buy cryptos in person, you can contact the seller via any forum dedicated for that or on social media, and decide to meet up. Later, when you meet, you can buy Bitcoins from a seller with some mutual agreement. One thing to be careful about if you decide to buy it this way, are scammers or robbers, and you should place your meeting someplace public, like a bank or somewhere where there are a lot of people.

2. By cash via mail

Source: cryptocurrenciesguide.com

Although this method is one of the easiest, you should still be very careful with purchasing large amounts, because there can be scammers, but it is suitable for smaller deposits. As a precaution and because of security reasons, some sites that offer this kind of service, for completing the transaction, both seller and the buyer need to provide personal details. It makes it safer, but there is a waiting period that can last from overnight delivery to up to 3 business days.

3. Bitcoin ATMs

Source: qz.com

Today, as the Bitcoin fever spreads across the world, there are even ATMs that work with this currency. The system is the same as it is like with any other ATM, but when you insert the debit card, instead of getting money, this ATM accepts the cash and sends bitcoins to your bitcoin wallet. Some ATMs work both ways, and with them, you can also send bitcoins to it and withdraw the money.

4. Cash deposits

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Another way to purchase cryptocurrency is by platforms that offer cash deposit transactions. These platforms work with some (not every) banks, and the buyer can deposit money into the seller’s bank account to receive the Bitcoins. Transactions of this kind can be very swift, and once the buyer uploads the receipt to confirm the deposit, bitcoins are immediately sent to the buyer’s account.

5. Cash app

Source: businessinsider.com

As the name itself say, it is an app where you can send or receive money, but you can also purchase some bitcoins while at it. Since it is mobile-based, it is best suited for those comfortable with using their phone to deal with their money. Withdrawing money is easy, and it takes about 30 minutes to complete the transfer. You can use the Cahs app to manage either your fiat or bitcoin currency accounts. But since it is still new in the cryptocurrency world, you should consider transferring and storing your bitcoins to your hardware, multi-signature, or a cold storage wallet.

6. Peer-to-peer exchange sites

Source: icoappfactory.com

More secure way to buy Bitcoin is with some sites that act as an escrow service. What this means is that the buyers can choose and select which seller they want to meet in person and do the transaction. Once they agree on a meeting, all the Bitcoins from the seller are in the sites escrow system, and only when the seller confirms the payment, they transfer cryptos to the buyers’ account.

Buying bitcoins via p2p exchange sites is one of the most secure, used, and preferable options out there. One reason for this is that the interaction between the buyer and the seller is going through the platform, and there are no third parties involved.

Because this is the best way to buy cryptos with cash, in further text, you will find the top 4 platforms to do so.

7. Bitpanda

Source: blockonomi.com

This site has one of the best selection of payment methods. It serves as a European customer base, and the cost of buying and selling bitcoins is around 1.49%. A good thing about Bitpanda is that for those who treasure their anonymity, they can buy unlimited bitcoins, but there is an amount limit for selling it. But if you want to verify your ID, you can use the most of this platform.

8. Local Bitcoins

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Since the launch of the site in 2012, Local Bitcoins became the platform people mostly use for their businesses. It is a p2p exchange, with escrow services, and people do need to meet for the transaction, but their security and the number of users guarantee that everyone can find what they need or want.

9. Mycelium Wallet Local Trader

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What makes this platform stand out is its newly added feature, which offers direct trading between users. It acts as an escrow, and the system itself is quite simple, and the sellers can place an advertisement with the price for their bitcoins, and the buyers can locate those nearby sellers and select the one they want to do the transaction. After the confirmation of the payment, the seller releases the coins from their Mycelium wallet to buyers.

10. Robinhood

Source: blog.robinhood.com

Although most people know this site as a stock brokerage, they expand and are now involved in trading cryptocurrency. The best thing about this site is that there are no fees for buying or selling bitcoins. It works the same way, and your coins they store your coins in the same account as your stocks. The only bad thing about Robinhood is that it still isn’t available in every country, but it is expanding, and you should check whether your country is on that list.

Placing the trust of your investments is never easy, but these platforms and ways to purchase Bitcoins are some of the best there are. Things about cryptocurrencies are always changing and evolving, and doing some research is necessary. The excellent place to start your crypto adventure and join the bitcoin revolution are trading apps. Visit https://bitcoins-digital.com for more information.

About Ronald Lamumbe

Ronald Lamumbe

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