Bitcoin has become the cryptocurrency of the day because it can be traded in most countries, except for a few, like China, that limit its use to some extent. You can safely use bitcoins to make affordable international transfers and payments via the web to companies and individuals who accept bitcoins. Bitcoin users also enjoy stability because the central banks and the states of local economies do not affect its value. Having mentioned some of the advantages of using bitcoin, it is important to know how you can buy bitcoins using cash and in person.
The Advantages of Buying Bitcoin in Cash and In-person
You will get to maintain your privacy in the digital market where hackers can siphon money from your bank accounts once you have shared your credit card details on unsafe sites. Being new to the bitcoin market can be challenging if you do not know anyone who has successfully traded on any given site before. You, therefore, need to do transactions that maintain anonymity and ensure you understand the whole process. Luckily, you can confidently trade on Nakitcoins which is one of the most trusted crypto exchange sites where you are guaranteed the safety of your bitcoins and account details. Buying bitcoins in person with cash is the easiest method of all because the trade will be instant.
The following steps will guide you on how you can easily initiate the bitcoin transaction in your local area without involving your bank.
Find a Seller in your Area who is Ready to Accept Cash
You can identify someone who is ready to trade through local advertisements, social media groups that are interested in digital currency trades, checking websites, or relying on friends for referrals. Since you are dealing with someone you barely know, ensure that you set up the meeting in a public place like shopping malls or at a local bank. You should also maintain a low-profile during the meeting to avoid being a target for theft.
Select the Amount and Place an Order for Bitcoin
The decision of how much money you want to invest should be made long before the meeting with the seller. It is wise to carry the exact amount of cash needed to avoid unnecessary complications that can lead to distractions from the main business.
Receive an Account Number from the Seller for Depositing Purposes
The seller should give you the account number into which you are going to deposit the cash. It is important to pay by depositing into a verified account to create a trail of evidence that indeed you have given out the necessary amount for the trade. A legitimate bitcoin trader should have a recognizable account for authentication purposes.
Upload your Receipt to Prove that you Made the Deposit of Bitcoin
nakitcoins has an algorithm to monitor the blockchain that verifies and confirms that the transaction has taken place successfully. remember that you should also have a wallet where your bitcoins will be deposited once the transaction has been confirmed.
Receiving your Bitcoins in your Wallet
This is the last step in the in-person with cash process of buying bitcoins. The process is as simple as that, and you will be the newest member to join the cryptocurrency market.
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