BTC is an abbreviation used to refer to Bitcoin, which is one of the most popular cryptocurrencies today. In fact, it is the largest by market capitalization and has the highest US dollar value, which is currently at $26,700.
Although there are concerns that BTC has been crashing slowly, it is still one of the most sought-after cryptocurrencies. And there are high chances that you too are looking for this crypto coin. So, it is important to know the most reliable options to buy BTC with cash.
Luckily, this well-researched article will look into that and give you expert-backed options.
CEX Platforms to Buy BTC with Cash
CEX — centralized cryptocurrency exchanges — are the most popular online exchanges where you can buy BTC with cash today. They are managed by third-party financial institutions with high liquidity to facilitate instant exchanges. Although most of them offer services online, they allow users to use cash in their bank accounts and mobile money apps.
To buy BTC with cash on a CEX platform, you will need to create an account with the platform and complete an ID verification or KYC process. Also, you need to deposit cash from an accepted source into the account before making a purchase of Bitcoin. Generally, they are affordable, convenient, and secure.
DEX Platforms to Buy BTC with Cash
DEX — decentralized cryptocurrency exchanges — are also very popular online exchanges that operate on a peer-to-peer concept. Therefore, they do not rely on intermediaries but rather connect buyers and sellers directly. This makes them more affordable but less convenient because you have to wait to be matched to a seller to buy BTC with cash.
Another win for DEX platforms is that you do not need to create an account or disclose your ID details on a platform. Therefore, these are preferred for those who want to buy BTC with cash discreetly.
Physical Office Exchanges
Today, many crypto exchanges have already diversified their services and now provide physical exchanges. These are office setups where investors who want to buy BTC with cash just walk in and transact through the help of a concierge.
Most reputable physical exchanges value the privacy of their clients and data confidentiality. Therefore, they have a reputation for this even if they may collect data to meet their KYC and registration obligations. They are also quite affordable and the most secure. Additionally, all their services come with in-person assistance.
Have you ever heard of BTC ATMs? If you are conversant with crypto trading, you must have heard of these automated machines because they have become very popular in recent years. These booths are operated by crypto exchanges and intended to offer self-service to users.
It is easy to buy BTC with cash from a Bitcoin ATM because all you need is your digital wallet QR code and fiat money in cash, a bank account, or payment app. The rest is easy.
Lastly, it is worth mentioning that you can also buy BTC with cash through a bank, financial institution, or from an individual you already know. But the discussed options are popular and less stressful; hence, they are the most recommended by the experts. Each one has its pros and cons, which you should check when choosing the ideal option for you. All the best!