GUIDE: How to Buy Bitcoin with Cash
Trade in those paperbacks for bitbacks with the ReliableCoin.com ultimate guide to swap your USD for BTC.
How to Buy Bitcoin with Cash
Residents of the United States have an option to Buy Bitcoin with cash anonymously with no bank account, credit card, biometric scan or picture ID. This can be easily accomplished with just $5, and there is no need to constantly meet with strangers. There are services available online matching the sellers of Bitcoin with the buyers. Many of these businesses have excellent reputations, and do an extremely large volume of trades every day. The only time a meeting is required is for the cash transfer. One of the most popular transactions is to buy Bitcoin with cash no verification.
Buy Bitcoin with Cash No ID
A cash deposit is an effective, legal, and reliable way for you to purchase Bitcoin. Many sellers enable will allow you to make a cash deposit into a specific account. This can be accomplished at a local bank branch. You simply need to have the bank account number for the transaction to fill out the deposit slip, and no identification is required. The actual name on the account is unimportant to the bank, and cash is easily deposited at bank branches all over the nation. You do not have to use the specific branch frequented by the account holder. This is a standard service offered by the banks, and the need to meet a stranger in person is eliminated. There are numerous advantages to using this method including:
- The purchaser can buy bitcoin with Cash instantly
- The purchaser has fraud protection from all reputable companies
- It is unnecessary to have or use a bank account
- There is a large selection of bank branches to choose from
- Any risk of threat or assault to the purchaser is significantly reduced
Registering to Buy Bitcoin with Cash Instantly
Most of the online sites do require registration prior to purchase. This is usually done with a numbered code or name by visiting the site and creating an account. Once the account has been established, you simply log into your account. There will be a Bitcoin page on the site, and you will enter your city, state, and the amount of Bitcoin you want to purchase. You will find either a drop-down box, or a cash deposit option to check, and this is usually located under payment method. When you buy Bitcoin with Cash anonymously, your first decision is how much you want to spend. You can purchase numerous bitcoins, or a fraction of a bitcoin, the choice is yours. Most companies have a minimum purchase requirement of $5. While still new to Bitcoin, you may want to begin with a smaller transaction.
Once you have entered the amount you are going to spend, engage a scroll down box, or click on Offers. This is where you will find the username of the trader, the exchange rate, the available bank branches, and buy bitcoin with cash no verification. You want to look for the seller with the fastest processing speed for your transaction, and these sellers will be marked as such. The rating of the seller is incredibly important. Most sites will have a rating for each seller, and a rating for customer satisfaction. You want to choose one of the sellers with a good track record and a high rating to ensure a successful trade.
Buy Bitcoin with Cash Anonymously
Once you are ready to buy bitcoin with cash no id, and have found the seller you want to purchase from, click on the button that says buy next to the name. You will be directed to what is referred to as an advertisement page. All the details of the seller’s offer will be on the page, including the profile of the seller. The amounts will usually be listed as USD and BTC. Once you have placed your order, send your request for the trade. Many individuals have questions regarding how to buy bitcoin with cash, the most common of which is regarding fraud. All legitimate sellers have an escrow system in place to protect you from fraud. The moment your order has been submitted, the Bitcoins you ordered are locked from the seller. They are unable to recover them unless you cancel your order. Once the seller has received your payment, they will release your Bitcoins. Once your request has been sent, you will be provided with an order page. This is where you will find the information to deposit your cash into the bank account of the seller. Take your cash to the nearest branch of the seller’s bank. Fill out a deposit slip and make certain to include the bank account number of the seller, the date, and the name of the seller if you were given the information. Then simply give the cash and deposit slip to the teller. The teller will confirm the account holder name, but will not ask you any questions. Make sure you retain the receipt the teller will give you once the transaction is complete.
The Purpose of the Bitcoin Receipt
The seller will require proof you have deposited the cash prior to releasing your bitcoins. This is accomplished by sending the seller a direct message including an image of the receipt you received when you made your deposit, and your order number. Your order will include specific instructions from the seller.
Receiving the Bitcoin
The length of time required for your order to be fulfilled is dependent on the seller, and if the order had any conditions. Some sellers provide buyers with instant release. This means the moment the transaction is complete, and the seller has received proof you deposited the cash, you receive your Bitcoins. Other sellers are often online, and you Bitcoin is released the moment they receive notification from their bank you have made the required payment. There are sellers who move at a much more leisurely pace. The exchange rate the seller offered is partially responsible for the level of service you receive. The slowest sellers usually provide the best possible rates. The most common turnaround time is between a few minutes to an hour.
Once your transaction has been completed, the Bitcoin will be deposited directly into your online wallet. There are numerous types of wallets available, and each one has a slightly different means of access. You will receive this information when you set up your online wallet. Some sites will have a link directly to your wallet, and you can access it there. Then you transfer your Bitcoins to your preferred location. You should receive an email alerting you to the completion of your order. This will improve the quality of service, and provide encouragement for more transactions in the future. You are under no obligation to make another purchase from this seller. Rating the seller is recommended because these ratings will help screen the sellers, and provide an accurate assessment of your transaction.