In the past when cryptocurrency was introduced, many people doubted it. Now people have realized the enormous potential that the digital currency industry has and many are willing to try it. Now we have several platforms where you can buy or sell cryptocurrency using the various methods of payment.
One of the payment methods that can be used is hard cash. In the past, the cash option was not available, but now you can buy any crypto including Ethereum (ETH) with cash. Many people who have been in the cryptocurrency trading scene are now opting for cash because of the benefits associated with it.
With cash, the whole process is simple, and at the same time, it entails a great deal of privacy. You can buy your ETH with cash in a very easy way and consequently save time money. At the same time, there is no need to worry about the rules and regulations involved that can be annoying sometimes.
How ETH Can Be Bought with Cash
As stated earlier, there several payments options that can be used to buy ETH. Cash is increasingly becoming one of the most preferred options as it does not entail many formalities. You can buy ETH in cash using either peer-to-peer (P2P) exchanges or ETH ATMs.
P2P exchanges are virtual trading platforms for those who own ETH. They can be compared to eBay with the only difference or rather advantage being that it less formal and very simple. Platforms like Nakitcoins also allow you to buy and sell crypto for cash.
Buying ETH with Cash Using P2P Exchanges
One of the most popular peer-to-peer sites is LocalEthereum. Here you can buy ETH with cash as the site is a safe exchange platform. The only problem you can face is the trustworthiness of the individual that you are dealing with. However, you can check the profile of the person and reviews from previous users to ascertain if the person can be trusted.
P2P sites allow you to exchange texts with the seller and from there you can go ahead and meet. You are however advised to arrange the meeting in public places for security purposes because you are dealing with hard cash as well as anonymous people.
The moment you establish that you are dealing with a legitimate seller, then you can make arrangements on how you can do business with them in the future.
How to Buy ETH with Cash Using ATMs
One of the safest platforms where you can buy crypto with cash is using ATMs. The use of ATMs comes with an additional element of privacy. You can walk into the nearest local ATM and buy your ETH. You can use sites like coinatmradar.com to find the nearest ATM.
First, before you use the ATM, you have to obtain an ETH wallet. You can then locate the ATM closest to you and then place an order. Just follow the simple instructions displayed on the screen after selecting ETH as the cryptocurrency form you want to buy.
You will have to scan the QR code on your wallet using the ATM’s camera and then proceed to deposit cash. The transaction will be confirmed, and once it is done, ETH will be deposited into your wallet.
Buying ETH or any form of cryptocurrency using cash is one of the simplest methods. If you want to keep your personal details private, then this is the way to go. Watch out for more guides on cryptocurrency trading in the near future.
Source From : Coindoo News