As cryptocurrencies become more popular globally, you may now want to get in the action. This may be pure speculation in the hope of making a profit or any other reason. While there are several ways that you could acquire some bitcoins or other cryptocurrencies, buying them is the main and simplest way. Therefore, you should know how to purchase bitcoin with cash to make an informed decision.
Below are some of the best ways you can buy BTC with cash:
Use peer-to-peer exchanges
You can easily find Bitcoin sellers through peer-to-peer platforms and agree on the price and payment method. The beauty of using P2P platforms is that they facilitate the connections between buyers and sellers, and the two parties can agree on their preferred payment methods.
Paxful and LocalBitcoins are among some of the best-known peer-to-peer exchanges you can use if you’re looking for how to purchase Bitcoin with cash. When buying your digital currencies through P2P platforms, and you agree to meet with the seller, ensure you only meet in safe public places. Also, check the reviews and ratings of the sellers, and only deal with those who have a good reputation.
Some P2P platforms also offer escrow services where they hold the seller’s assets and the buyer’s funds and only release them when they are satisfied that both parties have fulfilled their obligations. This helps to safeguard both parties from being scammed.
Using crypto exchanges
Another method you can use if you’re looking for how to purchase bitcoins with cash is to use crypto exchanges. The good news is that there are several exchanges in Turkey that you can use to buy BTC and pay with cash. However, you need to take a bit of time and check them out before you can choose the one to use.
Some of the things to consider before settling on which crypto exchange to use include the following:
· Customer service
· Transaction fees
· Speed of service
Fortunately, you can walk into any one of the many NakitCoins offices (NakitCoins is a leading exchange in Turkey), and buy your bitcoins with cash. NakitCoins allows people to buy bitcoins and other coins with USD, within a short time, in a safe environment, and without limits.
Using Bitcoin ATMs
Unlike ordinary ATMs that let people withdraw cash from their bank accounts, Bitcoin ATMs allow buyers to pay cash and get BTC sent to their wallets. You need first to locate a Bitcoin ATM near you, and you can use online tools to do that.
Once at the automated machine, you scan a QR code to tell the ATM where to send your digital coins, and then you insert your cash and confirm the sum of money on the screen to complete the transaction. The method is fast, convenient, and available 24/7. However, Bitcoin ATMs usually charge higher fees than other methods, but some people accept the higher fees as the price they pay for convenience.
If you have been searching for answers to the question “How to purchase bitcoin with cash?” then you have learned some methods, you can use. Buying digital coins with cash is fast, convenient, and anonymous in some cases. However, it may be unwise to carry huge amounts of cash, and there may be limits on the number of bitcoins you can buy when using some of the methods. When you decide to buy BTC with cash, choose a safe and secure method, that is friendly to you and whose charges are fair and reasonable.