The Fastest Ways To Trade Cash For Bitcoin
BITCOIN ATM
BTMs have begun popping up everywhere. Search for the nearest one to you online, and take cash and at least one form of identification with you. BTMs are fast, once an account is set up. They can trade in large quantities, and can buy back when you’re ready to sell. BTMs document your personal information, in compliance with goverment standards. Coins are marked up significantly. Call before visiting, because they are often out of service. COST: 6% fee or higher TIME: 10-30 Minutes (not including travel time)
LOCAL MEETUP
Service such as LocalBitcoins and Mycelium trader allow you to find people in your area who are buying and selling coins. Meet new people with common interests, trade quickly in person using a phone or computer. Can often be inexpensive, depending on the seller. Due to possible stranger danger, insist on meeting in a public place, and take a friend with you. COST: 3 - 20% markup TIME: 10 Minutes (not including travel time)
WEB MERCHANTS
Some online services allow you to purchase Bitcoin by utilizing online merchants such as PayPal or a Debit Card. Buyers are protected by PayPal in case a seller tries to scam you by never sending coins. Legitimate transactions are fast and easy. PayPal and Debit card sellers are almost impossible to find, because it is too easy for buyers to process a chargeback on purchased coins. You’ll need to build a rapport with the seller before they’ll be willing trade. COST: 10%+ markup TIME: 10 - 30 minutes
BANK WIRE
Recently, wallet providers such as Circle have begun linking customers Bank accounts to their profiles, allowing trade between them. Extremely fast, simple, and reliable. Personal information is required in compliance with government standards. Limits may be placed on buy, sell, and transfer amounts, and assets may occasionally be frozen or inaccessible. Accounts take 1-3 days to link at first use. COST: 1 - 3% fee TIME: Instant, once approved.
BTMs have begun popping up everywhere. Search for the nearest one to you online, and take cash and at least one form of identification with you. BTMs are fast, once an account is set up. They can trade in large quantities, and can buy back when you’re ready to sell. BTMs document your personal information, in compliance with goverment standards. Coins are marked up significantly. Call before visiting, because they are often out of service. COST: 6% fee or higher TIME: 10-30 Minutes (not including travel time)
LOCAL MEETUP
Service such as LocalBitcoins and Mycelium trader allow you to find people in your area who are buying and selling coins. Meet new people with common interests, trade quickly in person using a phone or computer. Can often be inexpensive, depending on the seller. Due to possible stranger danger, insist on meeting in a public place, and take a friend with you. COST: 3 - 20% markup TIME: 10 Minutes (not including travel time)
WEB MERCHANTS
Some online services allow you to purchase Bitcoin by utilizing online merchants such as PayPal or a Debit Card. Buyers are protected by PayPal in case a seller tries to scam you by never sending coins. Legitimate transactions are fast and easy. PayPal and Debit card sellers are almost impossible to find, because it is too easy for buyers to process a chargeback on purchased coins. You’ll need to build a rapport with the seller before they’ll be willing trade. COST: 10%+ markup TIME: 10 - 30 minutes
BANK WIRE
Recently, wallet providers such as Circle have begun linking customers Bank accounts to their profiles, allowing trade between them. Extremely fast, simple, and reliable. Personal information is required in compliance with government standards. Limits may be placed on buy, sell, and transfer amounts, and assets may occasionally be frozen or inaccessible. Accounts take 1-3 days to link at first use. COST: 1 - 3% fee TIME: Instant, once approved.