The number of people that want to buy Bitcoin with cash deposit is quickly growing. This is not going to change in the future. As more and more people learn about cryptocurrencies and the advantages associated with them, it is normal to have the number increase. We are looking at the possibility of making a lot of money for those that take the right steps. Everyone wants more money.
The problem is that buying Bitcoin is not something that is as easy to do as buying foreign currency. With this in mind, here are the main ways in which you can buy Bitcoin with cash right now.
Using Peer-To-Peer Exchange Sites
Numerous sites give you access to the possibility of trading cryptocurrencies. They practically act as escrow services. The buyer will talk with the seller and will start the transaction. The mentioned websites act as escrow services. The Bitcoin coming from sellers is held. It is only released to the accounts of the buyers after payment was officially confirmed by sellers.
The big advantage, in this case, is that the transaction is completely safe. Neither the seller or the buyer can be tricked or scammed. The amounts that are paid are discussed and then met.
At the moment, there are over 5,000 Bitcoin ATM machines that can be used to buy Bitcoin with cash. The way in which they work is pretty self-explanatory. You put in the money in the machine and you tell it to what account the Bitcoin is to be deposited. This process is instant and really simple.
The only problem with the Bitcoin ATM is that you have to agree to pretty large fees. Cryptocurrency is volatile and the price keeps changing. In order for the machine to deal with this, it needs to charge larger fees. However, the simplicity of the process is something that you absolutely need to consider. You get Bitcoin in your account instantly, which is a huge advantage, especially for beginners.
Buying Bitcoin With Cash During A Face-To-Face Meeting
Alternatively, this can also be done through forums or social media. In fact, this is where you often find people interested in such exchanges. When you meet, you start the Bitcoin buying process. The problem, in this case, is that there is a much higher possibility you will be robbed or scammed.
When you start an in-person transaction, the best thing you can do is do so in a public area like a mall or a coffee shop. If possible, you can do so at a bank, which quickly speeds up everything.
Buying Bitcoin With Regular Cash Deposits
There are different platforms that have this option available for clients. The buyer deposits cash into the bank account of the seller in order to buy Bitcoins. The platforms usually have banks that are linked to them. In this case, you deposit in a specific bank that is suggested by the platform you use.
Buying Bitcoin With Cash Through Email
This is not at all a recommended method. However, it can be utilized in the event that you have to deal with small transfers.