3 ways to buy bitcoin with cash in the US | finder.com

How to buy bitcoin with cash: 3 different ways

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Quick and easy ways to buy bitcoin and other cryptocurrencies with cash.

If you have a leather wallet full of cash and want to turn it into a digital wallet full of bitcoin or any other cryptocurrency, you have a few different options.

Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.
Name Product Deposit methods Fiat Currencies Supported Cryptocurrencies
Cashlib
Credit card
Debit card
Neosurf
USD, EUR, GBP, JPY, CNY, KRW, AUD, CAD, DKK, NOK, SEK, TRY, HKD, SGD
BTC, ETH, XRP, DASH, LTC, BCH, ETC, OMG, ZRX, CVC, BNT
Buy cryptocurrency with cash or credit card and get express delivery in as little as 10 minutes.
BitQuick P2P Bitcoin Marketplace
Cash
Western Union
USD
BTC
Buy and sell bitcoin fast through a cash deposit at your local bank branch or credit union, or via a money transfer service.
Paxful P2P Cryptocurrency Marketplace
Cash
Credit card
Cryptocurrency
Debit card
Flexepin
iDEAL
Neosurf
Neteller
PayPal
Perfect Money
SWIFT
Western Union
AUD, USD, EUR, GBP, CAD, CNY & 50+ more
BTC
Connect with bitcoin buyers and sellers through this peer-to-peer marketplace that accepts cash, credit and more than 300 other payment methods.
LibertyX Bitcoin Network
Cash
USD
BTC
Use your cash to buy bitcoin at participating retailers found through the LibertyX app or website.
LocalBitcoins P2P Exchange
BPAY
Cash
Credit card
Cryptocurrency
Debit card
Flexepin
iDEAL
Neosurf
Neteller
PayPal
Perfect Money
Bank transfer (SEPA)
SWIFT
Western Union
AUD, USD, EUR, GBP, CAD, CNY & 50+ more
BTC
Trade fiat currency for bitcoin in person or online with this peer-to-peer exchange offering competitive fees and wide delivery options.
Wall of Coins
Cash
USD, AUD, GPB, CAD
BTC, DASH
Buy bitcoin and DASH through this peer-to-peer cash only cryptocurrency exchange based in the US.
Cancoin P2P Crypto Exchange
Cash
PayPal
Western Union
SWIFT
Flexepin
Gift Cards & more
CAD, USD
BTC, ETH
Buy and sell bitcoin with privacy on this multi-signature, peer-to-peer exchange that supports a wide range of payment options.

Compare up to 4 providers

How to buy cryptocurrency with cash

How it worksPlatforms to useWhat to consider
Peer-to-peerMeet a seller near you in person, and buy bitcoin with cash in hand or any other payment option you agree on.Both the buyer and seller can be nervous about this kind of transaction. Make sure you only meet in a public place, and try to only deal with sellers that have a good reputation on the site.
Prepaid cards you buy with cashBuy a prepaid card with cash at a grocery or convenience store. This can then be widely used to buy bitcoin.
  • Bitit
It’s a convenient way to buy anonymously and with cash in hand, but your options may be limited. It’s typically not very cost-effective, and you might be limited to relatively small individual transactions.
Cash transfer at banksGo to a bank and pay with cash over the counter for the bank to pass on to the coin provider’s account.This is a good way of turning cash into bitcoin with minimal fees. However, different coin providers might have their own requirements.
Bitcoin ATMDeposit cash into a machine which will then deposit bitcoin into your wallet.See if there’s a bitcoin ATM near you.If there’s a bitcoin ATM near you, then this might be a quick and convenient way of getting bitcoin deposited to your wallet. However, it might involve significant fees.
Pay cash at a money transfer serviceGo into a Western Union or MoneyGram branch (or equivalent), and pay the cash for transfer to the specified recipient.A wide range of providers accept this payment method, and it might be one of the only ways of making cash deposits on exchanges, rather than simply as a way of paying cryptocurrency sellers. As long as there’s a branch near you, this is a very easy way to pay cash for the service of your choice. The downsides are that you lose some anonymity and you might get caught by fees.

What are the pros and cons of buying cryptocurrency with cash?

Like most things, paying with cash has both benefits and downsides. Depending on your preferred method above, you might experience the following.

Pros

  • Quick
  • Convenient
  • Anonymous

Cons

  • Typically not the most cost-effective option
  • You will generally be limited in the amount you can buy
  • Your platform options will be more limited

What are the fees relative to other payment methods?

Your fees will vary depending on your exact cash payment method. You’ll also find different standard commissions and fees depending on your method. For example, you can generally expect premium prices and relatively high commission fees for the convenience of paying with a prepaid card.

  • Peer-to-peer cash in hand. Zero fees other than what’s included in the transaction cost.
  • Prepaid cards. The cost of the card itself, which is usually around $5.
  • Cash transfer at banks. This might have no or low fees, while the cheap transfers might also help you find more competitive rates from bitcoin sellers.
  • Bitcoin ATM. The fees and costs will vary between ATMs, but you can probably expect them to be relatively high compared to the most affordable options.
  • Money transfer service. The fees will depend on which service you use, and whether there are also currency exchange fees involved. You can compare Western Union fees vs MoneyGram fees here for an example of how much they vary.

Storing cryptocoins

Before buying, you’ll need to set up a place to put your cryptocurrency, which means getting a cryptocurrency wallet.

You don’t need to have it on your computer either. By paying for bitcoin with cash and using a hardware wallet, you can buy bitcoin almost entirely offline.


Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.

Andrew Munro

Andrew writes for finder.com, comparing products, writing guides and looking for new ways to help people make smart decisions. He's a fan of insurance, business news and cryptocurrency.

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