How to buy Bitcoin Cash? – Logan Lerman

How to buy Bitcoin Cash? – Logan Lerman

For those who are the users and investors of Bitcoin need to know how safely they can buy bitcoin cash while trading with them. In this article, we will discuss the essentials that you need to keep in mind to buy bitcoin with cash. First of all, you need to understand why we need to buy bitcoin with cash. It is so because, one, it is private and usually very quick and second, it is one of the easiest ways to get the bitcoins.

A quick and easy guide to buy Bitcoin cash on Local Bitcoins

1. First of all, you need to find a seller in your area who accepts the cash.
2. After this, you have to choose the number of coins and place an order.
3. You have to receive the account number from the seller’s account.
4. Now, deposit cash into the seller’s account.
5. After this step, you have to upload your receipt for the proof of trade.
6. Get the bitcoins! Tack down your Bitcoins in your Local Bitcoin wallet.

What are the pros and cons to buy bitcoin cash on Local bitcoins?

Pros:

1. It is a fast and private means of purchasing bitcoins.
2. There is no need to have personal information.
3. Buying bitcoin can be made quickly with a cash deposit.

Cons:

1. Follow the rules and stay alert of scams and frauds.
2. It is hard to purchase large amounts of bitcoins in comparison to large exchanges.
3. Prices are a bit high as compared to regular exchanges.

How to buy bitcoin cash using Bitcoin ATMs?

You can easily trace down the Bitcoin ATMs near you with the help of the Bitcoin ATM. With the help of the Bitcoin ATMs, you can purchase bitcoins only with the cash. To buy bitcoin from ATM you need to understand the average ATM charges a fee of 5–10% with no verification. Every ATM is different and few of them do require verification but mostly they don’t.

What are the pros and cons to buy bitcoin cash via Bitcoin ATMs?

Pros and Cons are as follows:-

Pros:

• With the ATM maps, you can easily trace down the Bitcoin ATMs near you.

Cons:

• The Bitcoin ATMs have 5–10% fees charged on every purchase.

Some of the potential risks involved in buy bitcoin cash

• Purchasing Bitcoins with cash can be at no or low risk.
• If you are making a trade-in person, then it is an advice to meet in public place to avoid scamming or coin theft.
• If you are purchasing Bitcoin with a cash deposit then use an authentic website to make sure that the seller is sending you the bitcoins once he receives them.

What are the benefits to buy bitcoin with cash?

• It is easy to buy small amounts of Bitcoins with cash.
• It’s private as there is no personal information required.
• To buy bitcoin cash is a fast yet convenient process, no verification required to slow down the process.

Disadvantages that come along with the process to buy bitcoin

• The process to purchase bitcoins with cash can be hard with the cash deposits.
• There are limits on the Bitcoin ATMs and it does require some verification if more than a fixed amount is purchased.

Protect your Bitcoins: Get a secured bitcoin wallet

While you think to buy bitcoin cash, you need to make sure that you have a bitcoin wallet that will protectively store your bitcoins. Apart from storing there are scam exchanges that occur to steal your personal information related to your Bitcoin accounts. Here are two of the basic principles to avoid scams and loss of funds:

• Make sure you research before you exchange or buy bitcoin cash.
• It is important not to store coins on the exchange.

Conclusion:

We hope that this article has shown you the path to buy bitcoin cash safely. However, if you have any confusion related to the topic in this write-up then it is a recommendation to visit Bitcoin’s official website. You can also take help from the customer support assistants via the website.

Published at Tue, 18 Feb 2020 11:31:06 +0000