There are many ways to buy and sell cryptocurrency. The choice this or that way depends, in particular on which payment method is convenient for you to use, one option is cash. Although this method is less in demand than electronic payments, it nevertheless also has its own advantages and supporters.
Buy Or Sell Cryptocurrency Through A Card
If there is no need to maintain anonymity. Then the easiest way is to withdraw or buy a crypt using a bank card. Almost all popular exchanges, exchangers, payment systems, and other services support work with cards. And then cash can be withdrawn from an ATM.
This applies to any currency, that you can use as cash or another card, including cards belonging to payment systems such as money. In the process, you need to remember the legalization rules. Established rules in your country, for example, declaring all income from cryptocurrencies to the tax office.
There were times when it was difficult to buy cryptocurrency with a card, banks refused to carry out such “dubious” transactions. But these times are long in the past. Now the process is not difficult and is available to absolutely anyone who wishes. The services that we cited as an example are proven and with a good reputation.
How To Buy Or Sell Cryptocurrency For Cash
Now let’s look at ways to trade directly using cash, without intermediaries in the form of banks.
Exchange’s
There are many exchange services that have offices in large cities. By visiting them, you can buy crypto for cash during an offline meeting. To find such an exchanger:
- Go to the best change website
- select cash in the leftmost column, and to the right the cryptocurrency you want to receive
- Click on the button all above the table next to the inscription city and select a settlement from the available ones.
- explore the list of available exchanges that support this direction.
Then, to go to the website for the service you’re interested in, click on its name. Before you start, pay attention to the minimum limits that have been defined. They are normally high and calculated in tens of thousands of rules when it comes to cash.
To participate in the exchange, you must first establish an account on the websites and then contact the operator in the chart to arrange a meeting time and place. Both the transfer of cash and the transfer of cryptocurrency take place at the time of the meeting.
P2p (Peer-to-peer) Exchanges
Since their introduction, exchanges with direct user-to-user trading have provided choices for exchanging cryptocurrencies for cash and vice versa. Some of these features were later withdrawn to comply with regulatory requirements, but others remain.
- paxful
- localcryptos
- crypto locator
You must choose cash as a payment or receipt process, as well as the preferred cryptocurrency when using such a platform. On a peer-to-peer exchange, the choice of cryptocurrency is usually restricted to 1-3 options, one of which must be bitcoin.
It is usually not appropriate to verify on a peer to peer platform unless you exchange large quantities of bitcoins on a monthly basis; thus, it is sufficient to establish an account, use the filters to find deals that are suitable for you, react to them, and follow the instructions. Next to the contract offer is a city where the counterparty is willing to meet.
EPS
The payment system is also evolving, and it now offers customers a variety of methods for depositing and withdrawing cryptocurrency. Typically, the process is carried out in collaboration with third-party exchange services, such as payer and advcash payment.
Payee: Commissions start at 0%. commissions start at 0%. The exchanger used is cryptex.eu. A minimum of 500 USD/500 EUR/50,000 RUB in USD is required.
Advcash: Depending on the currency, the commission varies from 0% to 7%. The three currencies available are USD, EUR, and RUB.
A minimum of 3000 USD/3000 EUR is required.
To withdraw, the consumer must individually contact the exchange office via the web’s contact information and express their wish to exchange. EPS is not responsible for the simultaneous service of third-party services, so you’ll have to stay on top of things. Keep in mind that the payment system’s technical support6 is unlikely to be able to help you if you have any issues.
Why Is It So Common To Buy And Sell Cryptocurrency For Cash?
The use of this exchange method is primarily motivated by two factors: commission and confidentiality. Any online trading service will charge a higher commission fee because this is how they make money; however, when exchanging cash, the fees are low.
After all, all cards and wallets are usually linked to a phone number or an email address, and some also need authentication with a passport, so all of your transactions are clear.
Many individuals also don’t use banks or don’t have bank cards for a variety of reasons, so cash exchange is a viable option for them