Before we start, we must briefly explain what is Bitcoin. This is a crypto currency that was created back in the year 2009 and is not supported by any type of state authority. It’s not based on any other currency or pattern.
This Crypto currency uses P2P networks to be able to transmit the funds from one user to another in an instantaneous way, regardless of your demographic location. This P2P structure and the lack of control make it impossible for any authority to manipulate its value or cause inflation by producing more Bitcoins.
Bitcoins can be acquired by people in different ways and through different channels. You can purchase this virtual currency with credit or debit card, with cash and many other forms.
In this occasion, we will talk about the methods with which a person can buy Bitcoins with cash.
Before you begin to search for a specific solution to buy Bitcoins with cash, you should keep in mind that the available methods and platforms change depending on the country in which the buyer purchases them.
There are different platforms that help Bitcoins buyers or sellers achieve their goal. One of the most popular is called “LocalBitcoins” and it works effectively in almost every country in the world.
LocalBitcoins works as a peer-to-peer exchange. This means that you will see ads on the site published by other users who want to sell or buy bitcoins. You can show interest in any ad, organize a meeting, and then make a cash purchase from Bitcoins in person. This is a good way to buy Bitcoins because it is very private and confidential.
As well as this platform, there are many other full of offers available in almost any country. Since you’ll meet a stranger when you buy in person with cash, there are some tips you should follow to keep you safe.
First of all, organize the meeting in a crowded and public place. This will help ensure your safety and not be robbed. Try to go to the meeting with a friend or family member so you don’t find a stranger alone.
One of the methods to buy this Crypto currency and it has been emerging with great force in recent years around the world are Bitcoins ATMs.
These new ATMs have been created with the idea of facilitating the purchase and sale of different types of this virtual money at a local level.
These ATMs are very easy to use. At the touchscreen, there will be two buttons that say ‘ buy bitcoin ‘ or ‘ sell Bitcoin ‘. The user decides which of the two will press depending on the action you want to perform. Then the cashier asks how many Bitcoins they want and then the user has to insert the cash.
Once the cashier gets the money, A message on the screen appears describing how many bitcoin you’re buying and asks for a digital wallet to scan in seconds the Bitcoins through a QR code.
To sell this currency is the same mechanic, it asks how much you want to sell in your virtual wallet and then, through the QR code that reads the cashier, you will complete the transaction. There are currently hundreds of these cashiers in the most important cities in the world.
In Europe and several countries in America have begun to open physical points where people can arrive, give cash and receive in return the already popular Bitcoins or any other type of crypto coins.
The growth and acceptance of the people in this new method of buying and selling Bitcoins have been so good that it is estimated that by the end of 2018 there will be more than 10000 physical points around the world.
In conclusion, if you are looking to invest in this new trend of virtual money and do not want to use a debit or credit card, you can use one of these methods and buy them using cash.