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Title: Best way to turn physical USD into bitcoin? Post by: Chradams on October 15, 2020, 09:17:00 PM I’m new to bitcoin and wanted to know what the best way to turn physical dollars into bitcoin? Depositing them into my bank account is an option but I don’t see many ways to buy bitcoin using bank accounts. Thoughts?
Title: Re: Best way to turn physical USD into bitcoin? Post by: SFR10 on October 21, 2020, 08:29:35 AM I’m new to bitcoin and wanted to know what the best way to turn physical dollars into bitcoin? Depositing them into my bank account is an option but I don’t see many ways to buy bitcoin using bank accounts. Thoughts? Have you tried looking for BTM's [BTCitcoin ATM] in your area?Take note: - They usually charge a lot in fees. - Watch some tutorials on BTMs and educate yourself with bitcoin wallets prior to using one of these.
Title: Re: Best way to turn physical USD into bitcoin? Post by: roberbers on October 21, 2020, 09:17:36 AM If you are from USA, CoinFlip is the best ATM (cheapest, you still loose around 10%).
So if you buy $100 Bitcoin at CoinFlip ATM , you will get ~$90 BTC. Up to $900 daily without ID verification, only phone number needed. Title: Re: Best way to turn physical USD into bitcoin? Post by: mocacinno on October 21, 2020, 09:29:42 AM Well, the cheapest and safest way is probably using a big exchange like binance or kraken. Chose an exchange that's licenced, old, big and trusted, follow the KYC procedure and withdraw as soon as the exchange is completed. The drawback is that these exchanges usually require you to go trough a full KYC procedure, witch can take a while... Some exchanges have turned scam in the past, but if you pick a big, licenced one and you only keep your funds on the exchange for the time you need to make the exchange and withdraw, your risk is limited. Oh, pick a random password, look out for phishing and enable 2FA if possible...
If you want BTC fast, an ATM is indeed a good alternative, altough a bit more pricey, and the worldwide ATM coverage is not that good (there might not be an ATM in your vicinity) An other option would be a P2P trade, for example trough localbitcoins, but beware of scammers! Title: Re: Best way to turn physical USD into bitcoin? Post by: nutildah on October 21, 2020, 10:31:59 AM An other option would be a P2P trade, for example trough localbitcoins, but beware of scammers! Yep, and as a brand noob, I highly suggest not doing a deal on this forum as this section is riddled with scammers. You may already have been contacted via PM by a scammer saying they can sell you bitcoin for cash... don't do it! Your safest bet is a highly reputable crypto exchange as was mentioned earlier. In addition to Binance, Coinbase is a good place to go. It depends on where you live, how fast you need it, and how much you are looking to buy. Binance is the easiest on an international level in my experience. Coinbase is the best for those in the U.S. and Europe, so long as you don't mind providing them with KYC information. From what I've heard the Cash App also works really well. |