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Author Topic: Buying Bitcoin with cash  (Read 392 times)
Route66Retro
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June 29, 2016, 06:31:29 PM
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I would like to use LocalBitcoins.com to purchase bitcoins with cash, in person.  How do I make sure I am not scammed?  There are sellers with great track records, so I will be going with one of them.  How does the process work, I pay them and they send bitcoins, or it is the opposite?  Thank you for your info!

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June 29, 2016, 08:17:11 PM
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I would like to use LocalBitcoins.com to purchase bitcoins with cash, in person.  How do I make sure I am not scammed?  There are sellers with great track records, so I will be going with one of them.  How does the process work, I pay them and they send bitcoins, or it is the opposite?  Thank you for your info!
Your english is good, so you should head over to localbitcoins FAQ and there will be all answers for you.
I heard there are sometimes special places with cameras to exchange in person safer.
Anyway going for good rated person is a must. Watch out for too cheap bitcoins, good sellers have high fees tho.

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June 29, 2016, 09:46:46 PM
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With little or no trust, you will be expected to go first.
You can also exchange in person and wait for one confirmation in a bank lobby or something similar.

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June 29, 2016, 09:58:03 PM
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Try to deal with the most trusted seller and check the feedbacks before starting the trade, that's minimize the risk surely.

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June 29, 2016, 10:54:19 PM
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yes you can do it easily. you can buy bitcoin from a person directly using cash money. but you must be very careful about the person. you have to check either he has transfer bitcoin in your account or not. try to convince him to send you bitcoin first and after you him for that. that is i think the most safest way of buying bitocin from a person on cash.
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July 01, 2016, 06:16:15 PM
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Thank you all - that helps alot!

Losing is not my enemy...fear of losing is my enemy.  -Rafael Nadal
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July 01, 2016, 08:13:44 PM
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I mainly buy bitcoins through localbitcoins and mainly use cash deposit for my transactions... this is generally one of the more "safer" and "cheap" routes of buying bitcoins through there.  It's really simple to buy with cash... here's what you do.

1) After you have signed up and everything; go and find a ad with a cheap rate on local bitcoins.
2) When you find what bank is the most convenient to do business with the other person (sometimes, people will have the option of multiple banks)... go to that bank (you don't need an account there).  You can even just drive through the drive thru and ask for a couple deposit slips.
3) After you get them, you can go ahead and request a transaction for whatever amount (usually has to be an odd number like $257.52) and he will give you info like what account name/number he/she/they want you to send the cash too.  Once you make the request, it automatically takes that amount of bitcoins they have on their localbitcoins wallet into an escrow account to hold until you make the payment and mark it "complete".  MAKE SURE YOU ONLY DEPOSIT CASH. Don't try checks.
4) Different people have different request that you have to do before they release the escrow.  Usually you have to take some type of picture of the receipt the cashier will give back to you, with some sentence you have to write on it saying you purchased bitcoins from that specific person.

Usually after that, they will verify that you made the payment and will release the bitcoins to you!  Usually the whole process takes no longer than 10-15 minutes.  It's way more convenient and safer (in my mind) than any other way to purchase bitcoins.

Hope that works out for you!

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Dajackal
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July 01, 2016, 08:14:41 PM
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Where are you looking to buy btc for cash from?
mobnepal
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July 02, 2016, 11:33:26 AM
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If you are buying with cash than why not meet the guy of localbitcoin personally rather than trusting him with only localbitcoins account. Better ask his/her social media accounts and check those pages are real if you can't meet the person face to face. I have done several bitcoin exchanges with local guys but i get in contact with them via local exchanger group in fb.

I think face to face and with cash is the most secured way of doing bitcoin exchanges.

Bit1334271
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July 02, 2016, 07:32:21 PM
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Its depend on your location also I done few deals on localbitcoins all gone very good because mostly I use buyers with very good reputation still very careful because your money and life both very important for your family 
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