How to Buy Bitcoin with Cash in 2024

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Last updated Jul 09, 2024 | 01:17 PM UTC

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Intro

In 2024, buying Bitcoin with cash remains a viable option for those seeking privacy and anonymity. Here's how to buy Bitcoin with cash in seven simple steps:
 

  • Step 1 - find a Bitcoin ATM near you using a locator website or app
  • Step 2 - have a Bitcoin wallet ready with a receiving address
  • Step 3 - visit the Bitcoin ATM location and follow the on-screen instructions
  • Step 4 - scan your Bitcoin wallet QR code or enter the receiving address
  • Step 5 - insert cash notes into the ATM's cash acceptor
  • Step 6 - review and confirm the Bitcoin purchase amount and fees
  • Step 7 - receive the purchased Bitcoin in your wallet after transaction completion

 

Where to Buy Bitcoin with Cash

Buying Bitcoin with cash has become an increasingly sought-after option for those looking to enter the world of cryptocurrency

While online exchanges provide convenience, cash transactions cater to individuals who prioritize discretion. Here are some popular methods to consider:
 

  • Bitcoin ATM
  • Local bank that supports crypto
  • Stores that support crypto

 

Bitcoin ATM

One of the most convenient ways to buy Bitcoin with cash is through Bitcoin ATMs. These machines, similar to traditional ATMs, allow you to insert cash or credit/debit card and purchase Bitcoin directly. 

Plus, Bitcoin ATMs are becoming increasingly prevalent in major cities and urban areas around the world.

The process is relatively straightforward. You need to have a Bitcoin wallet set up, either through a mobile app or a hardware wallet. 

Once at the ATM, you'll be prompted to scan your wallet's QR code or enter the receiving address. 

After inserting cash into the machine, the corresponding amount of Bitcoin will be transferred to your wallet such as Crypto.com or Ledger, minus any applicable fees.

Bitcoin ATMs offer a degree of anonymity (similar to decentralized exchanges) since they typically don't require extensive personal information or identification. 

However, some machines may have limits on transaction amounts, especially for first-time users, as a security measure against money laundering.

 

Local Bank that Supports Crypto

While not widely available, some local banks may offer services to buy Bitcoin with cash. 

However, this option is limited to specific regions (think the United Kingdom, Canada, or the US territories) where banks have implemented cryptocurrency support. 

These banks typically have dedicated cryptocurrency desks or teller windows where customers can exchange cash for Bitcoin after completing identity verification processes.

 

Stores that Support Crypto

Several retail stores and businesses now accept Bitcoin and other cryptocurrencies like Ethereum, Shiba Inu, Dogecoin, or Ripple as payment methods. 

You can visit these stores, make a purchase using cash, and request to receive the change in Bitcoin. 

Some popular examples include certain grocery stores, electronics retailers, and even some restaurants that have embraced cryptocurrency payments.

 

Why Do People Buy Bitcoin with Cash?

There are multiple factors that drive individuals to pursue cash-based transactions when acquiring Bitcoin. Here are some of the key motivations behind this preference:
 

  • Anonymity and privacy
  • Lack of banking access
  • Lack of available exchanges
  • Speed and convenience
  • Lower fees
  • Ease of access

 

Anonymity and Privacy

Anonymity and privacy are some of the primary reasons why many individuals choose to buy Bitcoin with cash. 

Unlike traditional financial transactions that involve personally identifiable information and leave extensive digital trails, cash purchases of Bitcoin offer a greater degree of anonymity and financial privacy.

When buying Bitcoin through regulated exchanges or online platforms, users are typically required to provide personal details and undergo Know Your Customer (KYC) processes. 

These measures, while aimed at combating illicit activities, can be seen as invasive by those who value their financial privacy.

With cash transactions, there is no need to provide such personal information or create a comprehensive transaction history tied to one's identity. 

The pseudonymous nature of Bitcoin addresses, combined with the anonymity of cash, makes it challenging to trace the ownership of funds.

However, it's important to note that while cash transactions offer enhanced privacy, they do not guarantee complete anonymity. 

Proper operational security practices, such as using new Bitcoin addresses for each transaction and avoiding patterns that could link transactions to one's identity, are crucial for maintaining a high level of anonymity.

It’s important to remember that even though you’ll buy BTC with cash almost anonymously, you’re still obligated to report capital gains tax to your local taxation authorities if you later sell BTC for a higher price.
 

Lack of Banking Access

Lack of access to traditional banking services is another significant factor that drives many individuals to buy Bitcoin with cash. 

In various parts of the world, a substantial portion of the population remains unbanked or underbanked, lacking access to basic financial services.

This lack of access can stem from various reasons, including geographic remoteness, economic barriers, or stringent regulatory requirements that make it challenging for certain segments of the population to open and maintain bank accounts.

For these individuals, Bitcoin and other cryptocurrencies offer an alternative financial system that is more inclusive and accessible. 

By using cash to acquire Bitcoin, they can participate in the digital economy, send and receive payments, and potentially access a wider range of financial services without the need for a traditional bank account.

Additionally, in regions with unstable economies or heavily devalued currencies, Bitcoin can serve as a store of value and a means of preserving wealth, further incentivizing individuals to convert their cash into cryptocurrency.

The ability to buy Bitcoin with cash empowers those who are financially underserved, providing them with greater financial autonomy and opportunities for economic inclusion.
 

Lack of Available Exchanges

In some regions, individuals may face challenges in accessing regulated cryptocurrency exchanges or online platforms to purchase Bitcoin. 

This lack of available exchanges could be due to various reasons, such as:
 

  • Regulatory restrictions: certain countries or jurisdictions have imposed strict regulations or outright bans on cryptocurrency exchanges, making it difficult or impossible for residents to access these platforms
  • Limited infrastructure: developing or rural areas may lack the necessary technological infrastructure or financial institutions required to facilitate the operation of cryptocurrency exchanges
  • Geopolitical factors: political instability, economic sanctions, or conflicts can disrupt the availability of regulated exchanges in certain regions

In such situations, buying Bitcoin with cash can serve as an alternative avenue for individuals to gain exposure to cryptocurrency. 

P2P marketplaces can enable people to acquire Bitcoin without relying on traditional exchanges.

While cash transactions come with their own risks and challenges, they provide a viable option for those who cannot access regulated exchanges due to geographical, regulatory, or infrastructural limitations.
 

Speed and Convenience

Speed and convenience are significant factors that can drive individuals to buy Bitcoin with cash. 

While online exchanges, PayPal, and Cash App are regulated platforms that offer a more structured and potentially secure way of acquiring Bitcoin, cash transactions can provide a quicker and more immediate solution in certain scenarios.

For instance, if someone needs to acquire Bitcoin urgently for a time-sensitive transaction or investment opportunity, using cash can be a more convenient option than going through the lengthy account verification and funding processes required by many online exchanges.

Additionally, for those who are not comfortable with online transactions or lack the necessary digital literacy, cash purchases can be a more accessible and familiar method of obtaining Bitcoin. 

Physical Bitcoin ATMs can simplify the process, eliminating the need to navigate complex online interfaces or digital wallets.

Convenience also plays a role for individuals who live in areas with limited internet connectivity or unstable online payment systems. 

Cash transactions can circumvent these infrastructural challenges, allowing them to participate in the Bitcoin ecosystem without relying on digital payment methods.

While speed and convenience are compelling, it's crucial to exercise caution when engaging in cash transactions, as they may carry higher risks of fraud or theft compared to regulated exchanges with robust security measures in place.
 

Lower Fees

Lower fees can be a significant incentive for individuals to buy Bitcoin with cash, especially for those who prioritize cost-effective transactions or are dealing with larger sums of money.

Online cryptocurrency exchanges and trading platforms typically charge fees for various services, including trading fees, withdrawal fees, and sometimes even deposit fees. 

These fees can add up, particularly for frequent traders or those making multiple transactions.

In contrast, cash transactions for buying Bitcoin often involve lower fees or, in some cases, no fees at all

P2P marketplaces may only require a small premium over the market rate, making cash transactions more cost-effective compared to exchanges.

Additionally, for individuals sending remittances or making cross-border payments, using Bitcoin purchased with cash can be a more affordable alternative to traditional money transfer services, which often charge exorbitant fees, especially for smaller amounts.

It's important to note, however, that while cash transactions may have lower fees, they may also carry higher risks in terms of security and the potential for fraud. 

Proper precautions, such as using reputable P2P platforms or escrow services, are crucial when engaging in cash-to-Bitcoin transactions.
 

Ease of Access

Ease of access is another compelling reason why many individuals choose to buy Bitcoin with cash. 

Unlike the often complex and cumbersome process of purchasing cryptocurrencies through online exchanges, which may involve lengthy account verification, funding procedures, and navigating complex interfaces, cash transactions offer a more straightforward and accessible alternative.

For those who are less tech-savvy or lack access to reliable internet connectivity, the ability to acquire Bitcoin through physical means can be a game-changer. 

Bitcoin ATMs, for instance, provide a familiar and user-friendly experience similar to traditional ATM transactions, making it easier for individuals to enter the world of cryptocurrencies.

Similarly, in-person meetups or local trading platforms facilitate face-to-face interactions, allowing buyers to exchange cash for Bitcoin directly with sellers in their vicinity. 

This personal approach can be more appealing and less intimidating for those who are new to the world of digital assets.

Furthermore, in regions where access to online exchanges is restricted, cash transactions can serve as a viable workaround. They help individuals participate in the cryptocurrency ecosystem without navigating complex regulatory hurdles.
 

Security Considerations

While buying Bitcoin with cash may offer multiple advantages, it also comes with inherent security risks that must be carefully considered. 

Unlike regulated exchanges with robust security measures, cash transactions lack the same level of oversight and protection mechanisms.

One of the primary concerns is the potential for fraud or theft during P2P trades. 

Without proper precautions, buyers or sellers could fall victim to scams, counterfeit cash, or even physical harm. 

It's crucial to conduct thorough research, verify the reputation of trading partners, and consider using escrow services or trusted intermediaries to mitigate these risks.

Another challenge is the risk of losing funds due to human error or mishandling during the transaction process. 

Incorrectly copying Bitcoin addresses or failing to follow proper security protocols can result in irretrievable loss of funds.

Additionally, cash transactions inherently lack the transparency and auditability provided by regulated platforms, making it more difficult to track or recover funds in case of disputes or fraudulent activities.

To enhance security when buying Bitcoin with cash, it's essential to prioritize personal safety, exercise caution, and implement robust operational security practices, such as using new Bitcoin addresses for each transaction and avoiding patterns that could compromise anonymity.

 

What Do You Need to Buy Bitcoin With Cash?

When buying Bitcoin with cash through Bitcoin ATMs, crypto-friendly banks, or stores that accept cryptocurrency payments, you'll typically need the following:
 

  1. Cash: physical currency notes in the desired amount for your Bitcoin purchase
  2. Bitcoin wallet: a secure digital wallet with a unique address to receive the purchased Bitcoin. This can be a mobile, desktop, or hardware wallet
  3. Valid identification (for ATMs and some banks): government-issued ID may be required for compliance purposes, especially for larger transactions
  4. Bitcoin ATM location or store address: the physical address of the Bitcoin ATM or crypto-accepting store you plan to visit
  5. Bitcoin wallet QR code or address: to conveniently transfer the purchased Bitcoin to your wallet, you'll need the QR code or alphanumeric address
  6. Mobile device (optional): some ATMs or stores may require scanning a QR code from your mobile wallet app
  7. Understanding of fees: be aware of any transaction fees charged by the ATM, bank, or store for the cash-to-Bitcoin conversion

By having these essentials prepared, you can smoothly navigate the process of buying Bitcoin with cash through these physical locations while ensuring compliance and secure storage of your cryptocurrency.

 

What Are Alternative Methods to Buy Bitcoin?

While buying Bitcoin with cash offers privacy, there are also more conventional methods available through regulated centralized cryptocurrency exchanges

These online platforms allow users to purchase Bitcoin using bank transfers, debit/credit cards, or other cryptocurrencies after completing necessary identity verification and compliance checks.

Best Sites

Established in 2011, Kraken is a trusted cryptocurrency exchange renowned for its longevity and diverse trading interfaces, catering to a broad user base.

General Information

Year founded: 
2011
Coins Available: 
Bitcoin
Ethereum
Tether
Polkadot
Chainlink
Cardano
Bitcoin Cash
Litecoin
Uniswap
USD Coin
XRP
Aave
Stellar
Tezos
Curve DAO Token
Algorand
Monero
Synthetix
Dai
Filecoin
Compound
EOS
The Graph
Cosmos
Keep Network
ICON
yearn.finance
TRON
Qtum
Dash
Basic Attention Token
Zcash
Kusama
OMG Network
Waves
Nano
Dogecoin
Enzyme
Decentraland
Kava.io
Ethereum Classic
Orchid
Kyber Network
Storj
Siacoin
Lisk
Aragon
PAX Gold
Gnosis
Balancer
tBTC
Augur
0x
1inch
Aavegotchi
Acala Token
Adventure Gold
Akash Network
Alchemix
Alchemy Pay
Alien Worlds
Ambire AdEx
Ampleforth Governance Token
Ankr
APEcoin
API3
Aptos
Arbitrum
ARPA Chain
Astar
Audius
Avalanche
Aventus
Axie Infinity
Badger DAO
Bancor
Band Protocol
BarnBridge
Biconomy
Bifrost
BitDAO
Blur
Bluzelle
BitTorrent Chain
Boba Network
Bonfida
Bonk
r/FortNiteBR Bricks
Cartesi
Celer Network
Celestia
Centrifuge
Chain
Chiliz
Chromia
Civic
Coin98
Convex Finance
COTI
Covalent
Dent
dYdX
Energy Web Token
Enjin Coin
Ethereum Name Service
Euler
Fantom
Fetch.ai
Flare
Flow
Frax Share
Gala
Galxe
Gari Network
GensoKishi Metaverse
Gitcoin
GMX
Green Satoshi Token
Harvest Finance
Hashflow
IDEX
iExec RLC
Immutable
Injective Protocol
Internet Computer
Jasmy
JITO
JUNO
Karura
Keep3r BSC Network
KeeperDAO
KILT Protocol
Kin
LCX
Lido DAO Token
Livepeer
Loopring
Maker
Mango
Marlin
Marinade Staked SOL
Mask Network
Merit Circle
Mina
Mirror Protocol
Moonbeam
Moonriver
r/CryptoCurrency Moons
Multichain
MultiversX
My Neighbor Alice
MXC
NEAR Protocol
Numeraire
NYM
Ocean Protocol
Optimism
Orca
Origin Protocol
OriginTrail
Oxygen
PayPal USD
Pepe
Perpetual Protocol
Phala.Network
PlayDapp
Polkastarter
Polygon
Power Ledger
PYTH Network
Quant
Radicle
Rarible
Raydium
Ren
Render Token
Request
Robonomics.network
Rocket Pool
Rubic
Saber
Samoyedcoin
Secret
Sei
Selfkey
Serum
SHIBA INU
Shiden Network
Solana
Songbird
Spell Token
Stacks
Stafi
Star Atlas
Star Atlas DAO
Stargate Finance
Stella
Step Finance
STEPN
Sui
SuperRare
SuperVerse
SushiSwap
Swipe
Synapse
Terra 2.0
Terra Classic
TerraClassicUSD
Terra Virtua Kolect
Tether EURt
The Sandbox
THORChain
Threshold
TrueFi
TrueUSD
Unifi Protocol DAO
UMA
WOO Network
Wrapped Bitcoin
WETH
Yield Guild Games
Altair
Basilisk
Crust Shadow
Genshiro
HydraDX
Integritee
Interlay
Kintsugi
LimeWire
Nodle
Parallel Finance
Picasso
Polygon Ecosystem Token
pSTAKE
Tokemak
Wrapped Axelar
Website Languages: 
Chinese
English
Filipino
French
Italian
Japanese
Portuguese
Russian
Spanish
Turkish
Ukrainian
Vietnamese

Anonymity

As a registered US exchange, Kraken strictly adheres to KYC & AML laws, prohibiting the creation of anonymous accounts and ensuring regulatory compliance.

Reputation

With one of the best reputations in the industry, Kraken holds the distinction of being the only crypto company worldwide to secure an SPDI banking license.

Pros and Cons

Supports hundreds of coins
High liquidity
Simple and user-friendly interface
Good customer support options
Lots of advanced trading features like margin, futures, and indices trading
No insurance fund for assets on the platform
Doesn’t offer a crypto credit card
No personal wallet service for traders
Supports only a few fiat currencies

Huobi Global, established in 2013, is a world-leading crypto trading platform, providing secure and convenient trading services for digital assets.

General Information

Year founded: 
2013
Coins Available: 
Bitcoin
Ethereum
Litecoin
Uniswap
Polkadot
Bitcoin Cash
Chainlink
Bitcoin SV
EOS
XRP
SushiSwap
Tether
Curve DAO Token
BitTorrent
TRON
Sun
Aave
FTX Token
Zcash
Cardano
Huobi Token
Matic Network
JUST
Basis Gold Share
THETA
yearn.finance
Filecoin
Cosmos
Amun Bitcoin 3x Daily Long
OMG Network
Terra
Algorand
Ethereum Classic
Massnet
DFI.Money
1inch
IOST
Nervos Network
Band Protocol
Dash
Amun Ether 3x Daily Long
Tezos
Kusama
Ontology
Reef
Horizen
Stellar
Amun Ether 3x Daily Short
NEAR Protocol
Neo
Badger DAO
The Graph
Synthetix
Qtum
Dogecoin
Phala.Network
Waves
Polkastarter
Compound
Monero
Tellor
Amun Bitcoin 3x Daily Short
WaykiChain
Reserve Rights
NEM
Crypto.com Coin
Bounce Token (Old)
BoringDAO
Kava.io
VeChain
TitanSwap
Akropolis
Solana
Ren
Thunder Token
Marlin
NEST Protocol
IOTA
0x
Pearl
Linear
SKALE Network
Bytom
Aragon
Acute Angle Cloud
ForTube
Avalanche
Zilliqa
Loopring
Value Liquidity
Basic Attention Token
GXChain
Decentraland
BOX Token
Elastos
MXC
Nexo
Swerve
Storj
Tierion
Seele-N
Golff
Whole Network
Achain
Civic
API3
Decred
YAMv2
Maker
YEE
Alchemy Pay
ICON
Dai
Cortex
Arweave
The Sandbox
Loom Network
Injective Protocol
Bluzelle
Crust
Orchid
MCO
BitcoinHD
Meta
IRISnet
Chiliz
Darwinia Network
Lambda
Balancer
ARPA Chain
Bancor
Frontier
Origin Protocol
UnlimitedIP
Bitcoin Cash ABC
UMA
Kyber Network
Wootrade
aelf
Aeternity
USD Coin
Ankr
Nebulas
NXM
Kcash
PowerPool
Huobi Pool Token
Stafi
HyperCash
New BitShares
Hedera Hashgraph
Nsure.Network
Content Value Network
Robonomics.network
Status
MediShares
BitShares
nHBTC
AirSwap
Holo
Fusion
Harmony
SunContract
Arcblock
Firo
MX Token
Eminer
v.systems
dForce
Wrapped Bitcoin
Nano
dHedge DAO
Paxos Standard
BillionHappiness
Enzyme
IoT Chain
Steem
Genaro Network
CyberMiles
Matrix AI Network
Hive
BitKan
QASH
SIRIN LABS Token
Cred
GateToken
Dock
NKN
Ruff
NULS
Wanchain
Golem
Litex
Pundi X (Old)
Intelligent Investment Chain
Bibox Token
Davinci Coin
WAX
InvestDigital
TrueUSD
BitUP Token
DigixDAO
SwftCoin
DATx
Lympo
DATA
Smartshare
Carry
SmartMesh
XMax
U Network
BitCapitalVendor
Origo
BeeKan
Yuan Chain Coin
GET Protocol
YouLive Coin
Global Social Chain
FansTime
FairGame
Waltonchain
Promotion Coin
Atlas Protocol
EMOGI Network
Skrumble Network
dKargo
Engine
Project Pai
renBTC
Verge
Odyssey
Siacoin
pNetwork
CNNS
Game.com
VIDY
UGAS
Lisk
Standard Tokenization Protocol
Utrust
Ravencoin
Chromia
Pivot Token
Time New Bank
DeepBrain Chain
Newton
Komodo
Wirex Token
TOP
AI Doctor
EDUCare
QunQun
Electroneum
Power Ledger
Request
TopChain
EduCoin
Egretia
Propy
ShineChain
Medicalchain
Tripio
Polymath
ChatCoin
Gas
Datum
Metal
Content Neutrality Network
Quantstamp
All Sports
Bitcoin Diamond
STK
Portal
BnkToTheFuture
TenX
CVCoin
MyToken
HitChain
Bitcoin Gold
AppCoins
Raiden Network Token
Ripio Credit Network
SALT
CoinMeet
LinkEye
MEX
OST
sBTC
Globalvillage Ecosystem
WePower
ThingsOperatingSystem
Ardor
Matryx
BitcoinX
Lunyr
Beefy.Finance
Zilla
Phoenix Global
Rate3
DigiByte
Groestlcoin
EchoLink
Everex
Nucleus Vision
COVA
Enigma
NeuroChain
AdEx Network
HUSD

Anonymity

Adhering to global regulatory standards, Huobi Global implements stringent KYC and AML procedures.

Reputation

Huobi Global has earned a solid reputation for its longevity, liquidity, and global reach in over 130 countries.

Pros and Cons

Hundreds of tradeable assets
Lots of advanced trading options and features
Dashboard is advanced, and yet user-friendly
Comprehensive and efficient mobile presence
Innovative and secure wallet
Cumbersome account registration process
Low withdrawal limits
Restricted to USA users
Low leverage for margin trading
No investment programs for passive earnings

OKCoin crypto exchange is a well-established platform providing access to a variety of digital assets for traders globally, with a focus on offering fiat-to-crypto trading pairs.

General Information

Year founded: 
2014
Coins Available: 
Bitcoin
Ethereum
Tether
Dai
Stacks
Bitcoin SV
USD Coin
yearn.finance
Bitcoin Cash
Litecoin
STASIS EURO
Uniswap
Compound
Hedera Hashgraph
Polkadot
TRON
Celo
Ethereum Classic
Celo Dollar
USDK
1inch
Aave
Cardano
Adventure Gold
Algorand
Aragon
APEcoin
API3
Arweave
Astar
Cosmos
Avalanche
Axie Infinity
Badger DAO
Bancor
Blockchain Brawlers
Chiliz
Clover Finance
Crypto.com Coin
Curve DAO Token
Convex Finance
dHedge DAO
DIA
Dogecoin
dYdX
Elrond
Enjin Coin
Ethereum Name Service
Flow
Flare
Ampleforth Governance Token
Fantom
Gala
Aavegotchi
The Graph
Internet Computer
ICON
Immutable
Kadena
Kyber Network
Keep3rV1
Kusama
PlatON
Lido DAO Token
LINK
Livepeer
Loopring
Terra
Terra Classic
MAGIC
Decentraland
Mask Network
Polygon
MetisDAO
Mina
Maker
Numeraire
Harmony
Optimism
Perpetual Protocol
Phala.Network
Ravencoin
The Sandbox
Stader
SHIBA INU
SKALE Network
Smooth Love Potion
Synthetix
Solana
Spell Token
Storj
SushiSwap
Tellor
UMA
TerraClassicUSD
WAX
Wrapped Bitcoin
Wing Finance
Stellar
Nano
Tezos
DFI.Money
Zcash
Horizen
Zilliqa
0x

Anonymity

OKCoin enforces KYC verification procedures, mandating users to undergo identity verification to access trading services.

Reputation

OKCoin is recognized for its strong reputation, known for its reliable platform, liquidity, and compliance with regulatory standards.

Pros and Cons

Very low trading fees
Offers advanced trading services and features like futures and margin trading
Very high liquidity
Fiat currency deposits and withdrawals
Top level security
A lower number of cryptocurrencies on offer when compared to other big exchanges
A lower number of crypto pairs on offer
Requires level 2 verification before you can withdraw
Comes only in the English language
Fraudulent insurance claim

Bithumb, established in 2013, is a South Korean cryptocurrency exchange recognized for its significant trading volume.

General Information

Year founded: 
2014
Coins Available: 
Ethereum
Bitcoin
XRP
THETA
Swipe
Anchor Neural World
Hive
MiL.k
Factom
Bitcoin SV
Polkadot
Enjin Coin
Bitcoin Cash
Litecoin
Chainlink
Uniswap
EOS
Cardano
Terra
yearn.finance
Stellar
Qtum
Ethereum Classic
ICON
IOST
TRON
QUEENBEE
NEM
Tezos
Pundi X (Old)
OMG Network
TrustVerse
WaykiChain
Waves
Kyber Network
Loom Network
VeChain
Cred
Zcash
Algorand
AnimalGo
Zilliqa
Cosmos
0x
Metal
The Sandbox
Basic Attention Token
Orbit Chain
Sun
Loopring
The Midas Touch Gold
UMA
Serum
Mirror Protocol
Nestree
Ankr
DAD
Bitcoin Gold
Tachyon Protocol
TEMCO
BORA
BASIC
TrueChain
MXC
PIVX
DragonVein
RING X PLATFORM
Status
FNB Protocol
Crypto.com Coin
BitTorrent
JUST
EFFORCE
QuarkChain
Bitcoin Diamond
Observer
Quiztok
Contentos
WAX
Eminer
Augur
Xensor
All Sports
Aion
Aurora Chain
Proton
WEMIX
Davinci Coin
Lambda
aelf
Dash
Valor Token
Bitcoin Cash ABC
Steem
Power Ledger
ELYSIA
Electric Vehicle Zone
Metadium
v.systems
Precium
Orbs
AMO Coin
MixMarvel
Bezant
FLETA
Function X
Cortex
MovieBloc
Chromia
Waltonchain
GXChain
APIX
CONUN
BOSAGORA
ARPA Chain
Hdac
Multi Channel Influencer Creater Cloud Funding Platform
Stratis
Ontology
Centrality
WeShow Token
CyberVein
Golem
Decentralized Vulnerability Platform
apM Coin
Adappter Token
Origo
SoMee.Social
OneRoot Network
Aeternity
HYCON
WOM Protocol

Anonymity

Adhering to regulatory requirements, Bithumb implements KYC and AML procedures.

Reputation

Bithumb has played a pivotal role in the South Korean crypto market, gaining a reputation for liquidity and reliability. This exchange has great selection of altcoins and high trading volume. 

Pros and Cons

Offers trade in all major coins
Crypto trading bot
Easy to navigate for newbies
Sensible investment portfolios
Top quality customer support service
Very slow account verification process
No referral program
Only for South Korean residents
Supports only KRW as a fiat currency
Not enough information about security

Binance US, launched in 2019, is a prominent cryptocurrency exchange catering to the American market with a wide array of trading pairs and advanced features.

General Information

Year founded: 
2019
Coins Available: 
Tether
Ethereum
Bitcoin
Cardano
Chainlink
Uniswap
XRP
VeChain
Binance USD
Matic Network
Litecoin
Stellar
Algorand
Compound
Elrond
Tezos
Zilliqa
Hedera Hashgraph
Binance Coin
Maker
Solana
USD Coin
ICON
Bitcoin Cash
Horizen
OMG Network
Helium
Band Protocol
IOTA
EOS
Cosmos
Basic Attention Token
Nano
Neo
Dash
Decentraland
Dogecoin
VeThor Token
Zcash
Kyber Network
Waves
0x
Harmony
Orchid
Qtum
Dai
Ontology
Ravencoin
Ethereum Classic
Augur
Storj
PAX Gold
Polygon
Polkadot
SHIBA INU
TRON
Avalanche
Filecoin
Aptos
Lido DAO Token
TrueUSD
NEAR Protocol
Quant
Internet Computer
APEcoin
The Graph
Fantom
Aave
MultiversX
Flow
Immutable
THETA
Axie Infinity
The Sandbox
Optimism
Curve DAO Token
Synthetix
Render Token
Loopring
Mask Network
Threshold
Kava Lend
Ankr
Balancer
yearn.finance
Fetch.ai
Celo
1inch
Enjin Coin
Theta Fuel
Gala
Astar
Kusama
Ethereum Name Service
Audius
SushiSwap
Golem
Kadena
Ocean Protocol
Biconomy
Alchemy Pay
FLUX
Livepeer
SKALE Network
WAX
Celer Network
Illuvium
DigiByte
Lisk
API3
Syscoin
Gitcoin
Stargate Finance
Smooth Love Potion
Ren
Numeraire
Polymesh
Request
Galxe
Cartesi
Radicle
Aragon
Bancor Network Token
Prometeus
COTI
Marlin
Spell Token
My Neighbor Alice
Loom Network
Alien Worlds
Reef
StormX
Mines of Dalarnia
Origin Protocol
Ampleforth Governance Token
LTO Network
SuperRare
League of Kingdoms Arena
DIA
BarnBridge
Clover Finance
Voxies
Alpine F1 Team Fan Token
VITE
Santos FC Fan Token
FC Porto Fan Token
Oasis Network
MIOTA
iExec RLC
Lazio Fan Token

Anonymity

In adherence to US regulations, Binance US implements robust KYC and AML procedures, requiring users to undergo identity verification and ensuring compliance with legal standards.

Reputation

Binance US has established a reputable presence in the American crypto landscape. It's known for its reliability, regulatory compliance, and commitment to providing a secure trading environment.

Pros and Cons

Very low trading fees
Lots of educational resources available
So fast that it processes 1.4 million orders per second
High liquidity to customers
Attention to security, and constant innovation
Not available in some US states
Fewer crypto to crypto pairs than other exchanges
Lengthy identity verification process
Parent company was hacked in 2019
Limited selection of crypto assets

Disclaimer: The information provided on this website is for informational purposes only and should not be considered as financial, investment, or legal advice. Cryptocurrency investments are volatile and high-risk in nature. Consult with a qualified financial advisor and/or tax professional before making any investment decisions. We are not responsible for any loss incurred due to the use of information on this website. Do your own research and exercise caution. Don’t invest unless you’re prepared to lose all the money you invest.

 

 

Frequently Asked Questions

Are there any restrictions or limitations when buying Bitcoin with cash?

When it comes to buying Bitcoin with cash, there are generally no specific restrictions or limitations in place. In some cases, certain regulatory measures might be implemented to ensure transparency and prevent illicit activities. These measures could include mandatory identification verification or transaction limits. It is always advisable to research and comply with any local regulations or guidelines when purchasing Bitcoin with cash to ensure a smooth and compliant transaction.

Do I need a wallet to buy Bitcoin with cash?

You will need a wallet to buy Bitcoin with cash. A wallet is a digital storage space where you can securely store your BTC and private keys. When buying Bitcoin with cash, you will receive a physical voucher or receipt that contains a unique code representing the value of the Bitcoin you purchased. To transfer this Bitcoin into your possession and have full control over it, you will need to redeem the code by scanning it with a compatible wallet app on your smartphone or computer.

Can I buy Bitcoin anonymously with cash?

You can buy Bitcoin anonymously with cash through methods like Bitcoin ATMs and some crypto-friendly stores. Bitcoin ATMs often require minimal to no personal information, allowing you to purchase BTC by simply scanning your wallet's QR code and inserting cash. Similarly, some stores accepting crypto may not collect extensive personal data for small cash-to-Bitcoin conversions. However, larger transactions at banks supporting crypto are likely to involve more stringent identity verification processes, compromising anonymity to some extent.

Is it safe to buy Bitcoin with cash?

Buying Bitcoin with cash through Bitcoin ATMs, crypto-friendly banks, or stores can be relatively safe if you take the necessary precautions. ATMs operated by reputable companies and located in secure public areas pose minimal risk. Banks supporting crypto typically have robust security measures in place. When buying from stores, exercise caution, avoid divulging too much personal information, and only transact in well-lit public spaces.

What are the alternatives to buying Bitcoin with cash?

When it comes to purchasing Bitcoin without using cash, there are several alternative methods available in [current:year]. One popular option is to use a P2P cryptocurrency exchange platform that allows users to trade Bitcoin directly with other individuals. These platforms provide a secure and efficient way to buy Bitcoin using various payment methods such as bank transfers, PayPal, or even gift cards. Additionally, some online platforms offer the option to purchase Bitcoin using credit or debit cards, making it convenient for those who prefer not to use cash.

Who can I trust to buy Bitcoin with cash?

When it comes to buying Bitcoin with cash, it's crucial to exercise caution and only transact with trustworthy and reputable entities. For Bitcoin ATMs, stick to machines operated by well-known and established companies with a proven track record. For banks that support crypto, opt for large, regulated financial institutions with dedicated crypto desks. If purchasing from stores, prioritize recognizable retail chains or businesses that have been accepting crypto for a significant period. P2P platforms with robust reputation systems and escrow services can facilitate safer cash-to-Bitcoin trades between individuals.

Written by

Rica was a local news writer in the Philippines from 2011 to 2019. During the 2020 COVID pandemic, she fell in love with cryptocurrency and expanded her writing expertise to blockchain, NFTs, Web3, and FinTech. She is also well-versed in the financial markets, specializing in daily market news and price predictions. When she’s not writing, you’ll find her singing and dancing to K-Pop music!

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