Do you wonder why Bitcoin, abbreviated as BTC, is still the most popular crypto by market capitalization? Well, there are many factors involved in this, including its promising growth, high value against the fiat currency, and strong infrastructure for conducting trading, just to mention a few. This has resulted in high demand for BTC with many new investors seeking to learn how to buy Bitcoin by cash.
Buying Bitcoin by cash is pretty easy, and in fact, very common around the world. This article will tell how various options work so that you can make the right decisions whether you are new to crypto or a seasoned trader.
How to Buy Bitcoin by Cash Offline
Technically, there is no such thing as buying Bitcoin offline. All crypto transactions are done online. However, you can seek the help of an intermediary such as a physical Bitcoin office or Bitcoin ATM to buy Bitcoin without using your internet.
These options are easy and straightforward even for those who do not know how to buy Bitcoin by cash. You can use physical cash for both options and pay low commissions. They directly send your Bitcoin into a provided Bitcoin ATM and you can confirm before leaving.
How to Buy Bitcoin by Cash Online
Many crypto aficionados might know that online crypto trading is the most popular. But you need to know how to buy Bitcoin by cash on all online crypto exchanges such as CEX and DEX. If you are just getting started, here is how it works:
- Get a platform account – Almost all online Bitcoin have user accounts where they can collect user information in accordance with KYC regulations. Therefore, new users need to create accounts and provide all of the needed information.
- Load the account with cash – These accounts don’t pull the finances directly from your accounts but require you to do it manually and load your interim account on your profile. You can do this via your credit card, debit card, mobile money, or any other accepted mode of payment.
- Have a Bitcoin wallet ready – By now, you are about to buy Bitcoin using cash. But it is good to have your Bitcoin wallet ready. This is a folder where you will store the cryptocurrency after you buy it. It is better to host it on a separate secure platform.
- Buy Bitcoin – This step is critical, so if you still don’t know how to buy Bitcoin by cash, it is best to let a professional take you through the process. Before, you click the “buy” button, ensure that you do the conversion using the calculator and take note of the broker fee by the platform. When you are ready, click buy and wait for the magic to happen.
- Withdraw your Bitcoin – The last step is to withdraw the Bitcoin you have just bought and transfer it into your secure Bitcoin wallet. And voila! That is how to buy Bitcoin by cash online.
Using both offline and online crypto exchanges to buy BTC by cash is very convenient. But they requires you to know how to buy Bitcoin by cash, which is what we’ve taught you in this article. So, take your time to choose an option that works best for you.
Angela Spearman is a journalist at EzineMark who enjoys writing about the latest trending technology and business news.