Cash to Bitcoin: an overview of possible ways

Many traders are not so patient to deal with wallets all the time. They want to get cash immediately after profits. Below we will look at all the different options on how this can be done.

Exploring methods of exchanging cash for Bitcoins

Unfortunately, there is no way to directly exchange cash for bitcoin, but there are a number of intermediary companies (services) that provide such a service for a certain percentage, and provide customers with the highest security during such transactions.

Bitcoin CDR Instant Download

Currently, there is no instant Bitcoin CDR download, but it is possible to speed up the process significantly:

1. Use transaction gas pedals. Such transaction gas pedals, for example, can be ViaBTC, BTC.com, BitAccelerate. They re-transmit an unconfirmed transaction into the crypto network, thus speeding up the process of its quick confirmation by including it in the next block.
2. Speeding up the process by using the Bootstrap.dat file. This is a compressed file containing a copy of the blockchain from the genesis block to a certain point in time. Such a file can be found on the cryptocurrency's official online portal or on its official branch on GitHub.

Bitcoin ATMs

Such ATMs for exchanging crypto, which are called crypto-ATMs, bitcoin-ATMs, crypto ATMs and so on are exchangers, but embedded in a publicly available hardware device. With the help of such machines, you can conduct transactions with crypto, though only popular types of crypto. In essence, such a device is an ordinary ATM, with a screen, keyboard, and bill acceptor. You can see such equipment in shopping centers of megacities.

Peer-to-peer Bitcoin trading

These are direct transactions with crypto between users without the participation of intermediaries. Such offers to buy and sell cryptocurrency are placed on a P2P exchange, which are published by the respective parties. The buyer chooses a seller with terms and conditions that match his or her needs. In most cases, sellers offer different transaction amounts, payment methods and exchange rates.

Sending cash in exchange for Bitcoins

You can use offline exchanges to send cash in exchange for bitcoins. For example, such a site, where you can choose the direction of exchange, specify your city and thus find a suitable service. Then on the official site to create an application and exchange cash to Bitcoin.

Deposit cash into your bank account to buy Bitcoins

Binding an account is an instant and comfortable purchase of different types of cryptocurrencies. Binance P2P supports up to three hundred payment methods.Do the following steps to deposit cash in Bitcoin:

• Click “Purchase” in the upper left corner, select the currency you plan to use for payment, and then select the crypto for the transaction.
• Select the method in the window that opens.
• Specify the amount.
• Enter the necessary parameters from the app, and transfer the funds.
• The funds will be transferred.

Choosing Your Way to Bitcoin Cash

You can choose any of the possible ways to get cash for bitcoin. It depends on your needs and priorities. For example, you can choose:

• Offline crypto exchanges. This method is popular because of its legality and safety in some countries.
• OTC transaction. You can find a seller through specialized platforms or 1tab service. Special crypto exchange ATMs, which were mentioned earlier.

Risks of buying Bitcoin in cash

It is worth listing some risks in buying bitcoin for cash:

1. Fraud. A scammer can cancel an incomplete exchange procedure, send it for an amount an order of magnitude less, or instead of an expensive token send a similar but cheaper one.
2. An error when entering the address, so you can lose all the funds.
3. Buying “dirty” cryptocurrency. This means that the crypto came from a black market or was stolen.

Benefits and preferences

It is worth listing the benefits you get when you buy bitcoin for cash:

• It is an anonymous procedure. It leaves no trace in the system.
• The transaction is conducted without intermediaries. This can reduce the commissions to zero.
• It is a convenient and understandable process.
• Low risk of asset freezing.
• Independence from the banking system.
• An accessible way for everyone.

Frequently asked questions

• Are cryptocurrency exchange operations legal?

Yes, cryptocurrency transactions are legal in many countries. But note that you must pay taxes on such operations.

• Who can benefit from buying bitcoin for cash?

Buying bitcoin for cash can be beneficial to those people who do not have the proper information on making transactions with online payments and are not familiar with cryptocurrency platforms.

• Which method of cryptocurrency exchange is more attractive than others?

Exchanging cryptocurrency for cash is the easiest way to do it.