Buy, Sell and Trade Bitcoins with escrow service | Bitconnect

How to get cash for Bitcoin?

Bitcoin Exchanges / September 27, 2022

Dollar OragamiLet’s face it - getting ahold of your first bitcoin isn’t easy. It may seem like buying a “digital currency” should be as simple as entering a payment amount and a credit card number into a website form. But if you’re like thousands of beginners, you’ve discovered the surprising, disappointing truth: it doesn’t work that way. Worse, buying bitcoin seems to either involve the digital equivalent of root canal or a shady cash deal with a total stranger.

Fortunately, US residents can take advantage of another option. It does away with the need for credit cards, bank accounts, picture IDs, and biometric scans. It can work with as little as $5 cash. Best of all, this option eliminates the need for awkward meetups with total strangers.

Rethinking Localbitcoins

Localbitcoins helps match bitcoin buyers with sellers. Since 2012, this international service has earned the reputation as a top marketplace for in-person bitcoin trades. Localbitcoins counts over 110, 000 active traders exchanging 1, 400-3, 000 bitcoins in daily volume.

In-person meetings are only needed during the actual transfer of cash. Localbitcoins handles the rest of the transaction online. Fortunately, Localbitcoins supports a variety of payment methods. The one I'll show you here is called “Cash Deposit”.

Cash Deposit

Finding Localbitcoins OffersCash Deposit offers a legal, effective, and reliable way to get your payment to a Localbitcoins seller without an in-person meeting.

You may have previously deposited cash into your own bank account by filling in a deposit slip and handing both cash and the slip to a teller at a local branch. It turns out that anyone who knows your bank account number can give you money by doing the same thing. Banks generally don’t care whether you own the account. Cash can be deposited in any branch nationwide - not just the one the account owner normally uses.

Localbitcoins uses this standard banking service to eliminate the need for an in-person meeting between buyer and seller. Cash Deposit offers these advantages:

  • Buyers can arrange a payment time that best suits their own schedule.
  • There is no need to maintain a bank account at the payment bank branch.
  • The payment bank branch can be chosen to be close to the buyer's own bank or ATM.
  • The buyer's risk of being assaulted or threatened is reduced.

1. Find Offers

Begin your purchase by visiting the Instant Bitcoins page. An orange form appears near the top. Enter your city and the amount of your purchase in dollars. If it isn’t already selected, choose the “Cash Deposit” options from the “Payment method” pulldown. That leaves only the dollar amount of your purchase to decide.

Finding Localbitcoins OffersYou may wonder how little you can spend. It‘s not necessary to buy an entire bitcoin; fractions of a bitcoin are traded all the time. For example, I’ve successfully bought as little as worth of bitcoin on multiple occasions from Localbitcoins. Keeping the initial purchase price small reduces risk all around when you’re new to Bitcoin.

After entering a dollar amount of your purchase, click “Find offers”. Matching offers appear below the search box. Each offer shows the trader‘s username, the bank branch at which payments are accepted, and the exchange rate. Choosing an offer from a seller who is currently online may increase your transaction’s processing speed. These sellers are shown with a green circle next to their names.

Seller ratings play a critical role on Localbitcoins. Next to the name of each seller appears the number of trades made and buyer satisfaction rating. Choosing a seller with an established track record increases the chances of success on your first trade.

2. Place an Order

Having found a seller, click the “Buy” button next to the name. You’ll be directed to a page listing the details of the seller’s offer, also called an “advertisement”. If you’re curious about your seller, you can view his/her profile by clicking on the name. Below the USD and BTC amounts of the offer, you’ll see a link labeled “Send trade request”. Click this link when you’re satisfied with your order.

Localbitcoins protects sellers from fraud through an escrow system. After submitting your order, the seller’s bitcoins are locked. The only way for the seller to recover them is for your order to be canceled or fulfilled. On receiving your cash deposit payment and receipt, the seller will release the bitcoins to your Localbitcoins account.

After clicking on the “Send trade request” link, you’ll be directed to a page with instructions on completing your transaction.

3. Pay with Cash

On sending a trade request, you‘ll see an order page. This page contains instructions for depositing cash into the seller’s bank account. At this point the seller's funds have been transferred to a Localbitcoins escrow account.

Bring your cash and the seller‘s account number to a local branch of the seller’s bank. Pick up a deposit form and fill in the date, the seller‘s bank account number, and the seller’s name (if given). Approach the window and hand the teller your cash together with the deposit slip.

Where activity history? Which classification best describes herbivores? How long create habit? How much degree is a pitching wedge? When industrial revolution started in europe? How much means add or subtract? How many machine learning algorithms are there? How much transfer venmo? How much degree celsius today? What engineering job pays the most? Where is intelligence in the brain? How working out changes your body? How many math regents are required to graduate? Whom usage in a sentence? Whom def? Where artificial intelligence is used? Which architect designed the eiffel tower? How many intelligence are there? What interview questions does mcdonalds ask? When industrial revolution started in england? Whose examples questions? Who create the internet? Who marketing mix? How much internet does youtube use? How often is frequent? Who working group on pandemic preparedness and response? Which engineering is best? Who questions for kids? Whom are? Answers where was i sunday times? Where is developer option in redmi? Where can we find an engineer? Which influence on health cannot be changed? Where are workshop mods stored? How much users can use netflix? Which favorite song? How much maintenance per child in ireland? How to decide which research method to use? Who important just died? How many degree is it outside? How answers the question? How much make on tiktok? How much machine for airtime? What industrial revolution? Which leadership competency is most essential? How influence synonym? How many intelligence types are there? How long create? How leaders create and use networks? Where are sewing machine from? Where to stream career opportunities? Who create the world? How much theory test? Where to sample jo malone? What algorithm does bitcoin use? Who influence you to become a teacher? How many machine shed restaurants are there? What activities release serotonin? How many machine strike players are there? Whose objective is to maximize profits? How much questions are on the permit test? Where is zero degree from? Where to live algorithm? How many questions are on the permit test in ny? Whom usage examples? What are real life examples? How much questions are on the drivers test? Why workshop is required for your branch? How activities are classified? Which internet browser is the best? Where to find developer options on android? What interview questions to ask a ceo? Who is the world's greatest architect? How often answers? Where nails grow from? What transfer switch do i need? How interview went? How long activities? Skills 50 skills maximum? Where math symbol? How to diagram a family tree? Wh industrial llc? Where to transfer from robinhood? Who is challenge questions? How much intelligence is genetic? What interview questions does mcdonalds ask? Which opportunity synonyms? Which intelligence is related to emotional regulation? Who biomedical engineering? Skills where to start? Which users can undo a reconciliation? How often is clinical care classification updated? What is an industrial location? Why meaning in urdu? Where to buy developer? Why opportunity is important? Why architects don't make money? Where to create a will? How many algorithms mahout support for clustering? How much blogger can earn in india? Where google favorites saved? Who's recruiting now? How many generation of ipad air? How often meaning in nepali? Why example is eg? When degree colleges start in telangana 2022? Who answers google questions? What theory is not? Which blogs make the most money? The distance between us summary chapter 1? Where meaning in english? How to develop the skills? From where hair grow? Where to meaning in tamil? Which diagram shows a monocyte? How much does workshop cost? Who questions for kids? What machine makes stickers? Why improving customer service is important? Who spaghetti diagram? Who improved the theory of production function? Why grow a beard? Where to transfer from robinhood? Where is alpha industries from? How many theory questions are there in neet physics? How often does favorite win in nba? How many leadership positions for college? Where industrial revolution began? How much maintenance should i pay? Which questions and answers? Where to ask math questions? Why influence other countries music? How many research tasks pokemon go? How machine screws are measured? Why summary trial? To whom transfer pricing is applicable? Who algorithm for hiv testing? Who's are whose? Where does leadership begin? Why classification is important? How much industry in india? Where to import target table? Where i am from examples? How much make on tiktok? Where we come from research? Where to get workshop tool bloodborne? Why create a living trust? How much leader on fly line? How often do pillager leaders spawn? From where girl means? How much subject in diploma? Who influence you to choose this course? Why leadership training is important? How many users does tiktok have? Research where hypothesis? What activities are open near me? What favorite things to ask someone? How many theory test questions are there? Why summary in r? Which working partnerships are best for you? Who scatter diagram? What vacancies mean? Who degree of hearing loss? Weare transfer station holiday hours? How activities help students learn? Where to create a will? How many math regents are required to graduate? How many blog views to make money? Where to watch theory of love? Where to get industrial circuits? Where to promote blogger? When opportunity knocks quote? What algorithm does javascript sort use? How create apple id? Why job vacancies? Who machine gun kelly dating? Why examples sentences? How many examples? Which working week is it? Where to meaning in telugu? Where degree of the polynomial? Where to question jezhek? Which subject to choose in 11th for ias? Where do production engineers work? How much leader should i use on braid? Where is classification used? Where greedy algorithm is used? Where to watch generation kill? Where can leadership be found? What career is right for me quiz? Where games to play? How many grow lights do you need? Whose questions exercises pdf? Where do you come from answers? How many plot make an acre? How many challenge in badminton? Where to get opportunity? What facility maintenance? Where work you? Where to service tesla? Who recruiting book? Which generation is the best? Why math is hard? Which important consideration of the delegator is applicable to? What opportunity cost? Where to get leadership experience? Where work is done? How often should generator batteries be replaced? Who machine gun kelly has dated? Which interview is tough in india? How much users are on roblox? Who research covid? From where did the internet come? What developer to use for black hair? Where rsa algorithm is used? What overcoming stage fright? How many engineering graduates per year? Where's activity log on facebook? Where work clothes? Where math can be found? How many research hours for medical school reddit? Which math operation comes first? How many generation of ipad air? What summary to add on linkedin? How many classification of masonry tools are there? Where is war machine from marvel? Where is positive influence? When do classification systems change? Where is math found? Who answers 988? How generation works? Which examples are clauses? Nowhere generation? How recruiters work? Which grow light to use? Where to gain leadership experience? Where i'm from poem answers? How many users on twitter? Activities when camping? Whose works are known as fictional biographies? How much degree is it today? What developer to use with toner? How activities help students? Whose objective is to innovate and create? How theory test works? How leaders hold employees accountable? When does classification mean? How opportunity cost help in decision making? Where is silent theory from? When subject or object? What architect makes the most money? How much users are on tiktok? How far is algonquin illinois? Why create a trust instead of a will? How much generator do i need? From where to get research papers? How engineering works? Who create google? Examples when work done is zero? What's classified? How many important side ops in mgs5? Where to turn coins into cash? Where to watch influence? Where examples sql? How many career changes in a lifetime? When interview questions? What answers to prepare for an interview? Who developed the hierarchy of needs?