Are you planning to invest in Bitcoins (BTC)? If yes, you might be wondering how to buy BTC with cash. With the growth of the cryptocurrency sector, buying Bitcoins only takes minutes. But before this, you need to get a Bitcoin wallet to store the digital coins once you buy them. In fact, most of the exchange platforms you will interact with require you to have one.
If you are still learning how to buy BTC with cash, ensure that you have cash in your bank account, mobile money app, or internet money transfer app. Even though it is called cash, it refers to the currency of your country in digital form because the transactions are made online. That said, here is how to buy BTC with cash.
Bitcoin ATMs have become a major solution for how to buy BTC with cash. They are all over these days, and they are very easy to use. The good thing about these machines is that they accept a variety of payment options depending on the company.
So, to buy Bitcoins from a Bitcoin ATM, you need to have cash ready in your bank or money app and a Bitcoin wallet as well. Then, you can follow the instructions on the machine until you receive the digital coins in your wallet.
Many exchange platforms are available for those who are still wondering how to buy BTC with cash. They charge different rates, and the top-rated ones are the best since they offer the most value for the money. Make certain that the one you choose has excellent services, transaction security, and speed. Additionally, exchange platforms with a large community offer the fastest exchange solutions.
So, how do you go about exchanging Bitcoin for cash on an exchange platform? Some will ask you to register with them, while others will not. So, it is really a matter of choice here. But a few things are for sure; you need to have a Bitcoin wallet and available money in your account or money transfer app.
To clarify how to buy BTC with cash on an exchange platform, the whole process is completed online. Some of the best crypto exchange platforms include NakitCoins, Bitit, Coinmama, Coinbase, eToro, and many others.
Just like exchange platforms and Bitcoin ATMs, P2P platforms are also great solutions for how to buy BTC with cash. However, they are not as simple and intuitive for beginners because they just connect you to a potential buyer on the platform and you have to make arrangements for the transactions. If you are not careful, you might lose your money to fraudsters. Otherwise, the P2P platforms are great since you can negotiate exchange rates with the potential seller.
If it is possible, you can also buy Bitcoins with cash from friends or people you know. This is not as common, but it is actually a safe option if you know the person. But with the other options discussed above, how to buy BTC with cash is no longer a challenging process.