Buying Bitcoins with cash in hand in LESS than an hour.. Stop! Before you read any further you should know that Bitcoin ATMs are popping up all around the country . Even though this guide will have bitcoins in your wallet faster than a hot knife through butter, if there’s a Bitcoin ATM near you then that may be a better option. Visit Pelicoin to see if there’s one near you and, if not, refer back here.
No luck? no need to get down. Exchanging your Cash for bitcoin, ethereum, or litecoin is quite literally about an hour away if you follow this bitcoin for cash dummies guide. Here we’ll guide you through the best (and quickest) options at your disposal.
First, register an account with Localbitcoins.
So I’ve registered an account. What’s the quickest way to exchange my cash for coins?
THESE 5 STEPS WILL GET YOU BITCOIN IN UNDER AN HOUR – GUARANTEED
1 Cash Deposits directly to a bank is the quickest and easiest method. When you initiate a trade with a vendor, Localbitcoins holds onto that amount, taken from vendor with whom you’re trading. In other words you’re safety is guaranteed in the unlikely case the Trader backs out. The important part; Which large national banks are in your vicinity?
2 Now it’s as simple as finding a trader who accepts cash deposits at the same bank nearest you. Sort by cash deposits here and search for a bank.
3 It’s important to note that once you hit Buy you are not contractually bound to do anything and the trade can be cancelled at any time.
4 Read the Trader’s instructions carefully. Here’s how it usually goes: he provides an account number and the name of a company, drive 5 minutes to the bank and make the simple cash deposit into the account provided. NOTE: Commit to memory the account name the Trader gives you and never say it’s a deposit into your own account. In general, banks frown on cryptocurrency dealings. (But this will change in the next few years).
5 Once the deposit is made, hold on to the receipt. Traders will have their own instructions for verification which you should take time to read carefully. However, it usually consists of writing your username on the receipt and tearing it in half. Then taking a picture of the receipt with your phone and sending it to the Trader. It’s as simple as that. You will have your bitcoins, litecoins or ethereum within 15 minutes from the time the pic is send – in most cases.
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