Do you buy or sell crypto for cash?

[joeydangerous]

Yes, I once bought and sold coins directly using conventional money. The most often I do is buy coins that do not have a market after the coins are distributed. Of course coins can we get from people who need money suddenly.

I try not to sell the coins that fast because the price could get much better than what it appears. Bitcoin is a common proof of that.

[kruzer200]

I use several exchanges in which I change the cryptocurrency for dollars, but usually it is very inconvenient and I spend a lot of time.

[bakulgarem]

I think in exchange can to sell crypto with direct money has many options now.

[KEPLER99]

Hey guys,

I'm doing a little research now about using cash (paper money) for direct buying or selling crypto in different countries and I need your help. Could you share please your experience of such deals in your country? In what way are you doing this? And what were the problems or the advantages of this way? If you can, please tell about which country you speak, then this research will be more practical.

The results of this research can help improve Dether dapp (https://dether.io/) the beta release of which will be in the coming days. The main strategic mission of this project is the breaking barriers to the mass adoption of Ether and crypto in general. The team believes that a convenient, mobile, decentralized, p2p way to buy and sell crypto for cash is able to significantly contribute to this and their opinion is shared by Consensys in the person of Ethereum co-founder, Joseph Lubin, which support them. I'm also long-standing and sincere contributor to Dether and I will be grateful to you for your help in this research

p.s.
Recently, Dether team interviewed citizens of ten countries to learn how to deal with the purchase / sale of crypto in general, in their countries. If you are interested to know what crypto enthusiasts from Tanzania, Czech Republic, Senegal, Vietnam, Congo, Philippines and others countries talk about it, you can get acquainted with the results of the interview in this Medium article https://medium.com/@DETHER/the-good-the-bad-and-the-ingenuitive-what-it-is-really-like-to-buy-and-sell-cryptocurrency-8fdfbfc2aee7. In this thread, as you already understood, I want to learn about the ways of buying / selling crypto directly for cash.

Yes, sometimes I buy and sell crypto currencies in cash, though most of my transactions are usually through bank. I am from country India. I usually find people selling or buying for cash near me using localbitcoin.com. The advantages of buying in cash is that you can do face to face deal and there is no possibility of scam, moreover as the transaction is not visible in bank or anything, you could save yourself the trouble of paying tax.

[Koalamite]

Yes i will buy or invest cash for cryptocurrency in exchanges but i buy altcoins with a small value and hold it and wait until the price of that altcoin increase then full out and buy again

[Maricel2017]

Yes i do buy and selling because it is one of my method to earn money, i think all the people here in crypto doing this also.
But now not only buy and selling can i do in crypto, i used this as my simple business that i can get cash to sustain the expenses of my family in daily living, food, fare, bills i provide that to my family by earning in crypto.

[Rizky Aditya]

Localbitcoins is working flawless for me. I already made over 50 deals there.
Also, there are few companies what are working as a middleman with 2-5% commission. But this is the way to get your money in bank account really fast.

Indeed, localbitcoin.com is the best site for buying and selling of bitcoin locally in one’s own country. Though, I would like to inform you that here we are talking about deals and transactions in cash and not about online transactions and getting money in bank.

There is difference between the two that you people must understand before posting. Localbitcoin.com provides deal in cash, though the rates are bit high as compared to other payment methods. Transactions done through localbitcoin.com are done via middleman and both seller and buyer are protected from possible fraud and scams.

[katrimans]

We do a lot of exchange of crypto for cash and vice versa in my country and i am  also into that. It is quite easier to do that than getting it done on exchange site. The way it is done is that:
A social media platform is created, where the admin, who is a trusted person, becomes the middleman between the buyer and the seller. Most times, we may not know the middleman in person, by in a way, we may have built trust in him.
I have found this to work effectively and i like it.
I believe i have been able to make meaning contribution.
If you have any other question as regards this, i am ready to provide you with answers.

Well, I don’t think you are talking about cash here instead you are talking about buying and selling of crypto currencies using online payment methods such as NFT and IMPS because as far as I know, cash deals cannot be possibly done on social media in some groups. And you surely don’t need a middleman if you are transacting cash to cash in face, do you? So, your contribution in the field will be to first understand the difference between online transactions and cash transactions.

[valnd]

Yeah of course  I sell and buy cryptos with cash, when i need some cash to take care of some certain things, I will sell of for cash and if i feel market is down and need to get some coins, I will buy with cash.

[KalaiBTC]

In my site there have no way to make cash with cryptocurrency. Some short buyer take BTC or ETH then I make some cash. But big withdraw never possible in my site. It is major issue for me.

Thank you for your feedback. But did I understand you correctly...Sometimes you sell your BTC or ETH to other people and directly for cash? That is, you meet with another person, send crypto to his wallet and he gives you cash (paper money)?

Exactly my point. Many people here are mistaken about the word cash. They are referring cash to as Fiat money here instead. Cash is paper money people and not the money that Is kept in bank or online wallet and transacted via online transaction system. People are mixing up the two different topics of buying and selling with fiat money and buying and selling with cash (paper money) locally.

[Crumple Cat]

Its very rare for such to happen, iv actually never sold crypto for cash, but i've instead change crypto for crypto, i don't think changing crypto for fiat is a wise idea either, i preffer circulating them just within the cryptocurrency environs

Thanks for opinion, but I don't think that this is a matter of wisdom, but rather of practical relevance in a concrete situation.

[sachdientugoogle]

 To be fair it’s fairly easy to grasp the basic concept and advantages of blockchain. It’s much harder to know when to sell and buy. I’d be in the other line though because there’s no way you can trust some other random to tell you when to buy and sell, but there is always more depth to and possibilities for blockchain use to learn/think about.

[Crumple Cat]

Localbitcoins is working flawless for me. I already made over 50 deals there.
Also, there are few companies what are working as a middleman with 2-5% commission. But this is the way to get your money in bank account really fast.

Thank you for sharing your experience
If this is possible, it would be cool to know what country you are talking about, this would help make the research more practical.

EU county.

What I wrote is valid for almost all EU counties. I have friends in few of them and in all you have SEPA from exchanges like kraken, localbitcoins, middleman companies and ATMs in the big cities.

Thanks for your reply.

[Crumple Cat]

I never bought nothing with cash, not even bitcoin. I started from zero, I had computer, internet and a lot of will and a big wish. I started with earning bitcoins on faucets, much later I invested that bitcoins in other cryptocoins. I cashed out a lot of money in last couple years, maybe not a lot for some rich guy but for my town standard its more then enough, there are months when I had so good gambling and trading that I made 3 times more here then with my regular everyday job.
I only sell crypto for cash, only when I need cash. I would like my country to be more progressive but it's not, so I need hard cash for paying things around.

Hey, thank you for sharing your experience, but how did you sell crypto for cash?

[0t3p0t]

Hey guys,

I'm doing a little research now about using cash (paper money) for direct buying or selling crypto in different countries and I need your help. Could you share please your experience of such deals in your country? In what way are you doing this? And what were the problems or the advantages of this way? If you can, please tell about which country you speak, then this research will be more practical.

The results of this research can help improve Dether dapp (https://dether.io/) the beta release of which will be in the coming days. The main strategic mission of this project is the breaking barriers to the mass adoption of Ether and crypto in general. The team believes that a convenient, mobile, decentralized, p2p way to buy and sell crypto for cash is able to significantly contribute to this and their opinion is shared by Consensys in the person of Ethereum co-founder, Joseph Lubin, which support them. I'm also long-standing and sincere contributor to Dether and I will be grateful to you for your help in this research

p.s.
Recently, Dether team interviewed citizens of ten countries to learn how to deal with the purchase / sale of crypto in general, in their countries. If you are interested to know what crypto enthusiasts from Tanzania, Czech Republic, Senegal, Vietnam, Congo, Philippines and others countries talk about it, you can get acquainted with the results of the interview in this Medium article https://medium.com/@DETHER/the-good-the-bad-and-the-ingenuitive-what-it-is-really-like-to-buy-and-sell-cryptocurrency-8fdfbfc2aee7. In this thread, as you already understood, I want to learn about the ways of buying / selling crypto directly for cash.

Yes I am selling cryptocurrency with fiat currency due to wants and needs. I also buy crypto with fiat but mostly I sell Altcoins to sustain my daily needs. Since I am a bounty hunter I got tokens from bounties and airdrops for free and if they are listed on exchanges I can sell them if I need fiat but sometimes I hold them and wait for it to grow. My friends also do the same but they do it always with their crypto.

[hritevanz]

Hey guys,

I'm doing a little research now about using cash (paper money) for direct buying or selling crypto in different countries and I need your help. Could you share please your experience of such deals in your country? In what way are you doing this? And what were the problems or the advantages of this way? If you can, please tell about which country you speak, then this research will be more practical.

The results of this research can help improve Dether dapp (https://dether.io/) the beta release of which will be in the coming days. The main strategic mission of this project is the breaking barriers to the mass adoption of Ether and crypto in general. The team believes that a convenient, mobile, decentralized, p2p way to buy and sell crypto for cash is able to significantly contribute to this and their opinion is shared by Consensys in the person of Ethereum co-founder, Joseph Lubin, which support them. I'm also long-standing and sincere contributor to Dether and I will be grateful to you for your help in this research

p.s.
Recently, Dether team interviewed citizens of ten countries to learn how to deal with the purchase / sale of crypto in general, in their countries. If you are interested to know what crypto enthusiasts from Tanzania, Czech Republic, Senegal, Vietnam, Congo, Philippines and others countries talk about it, you can get acquainted with the results of the interview in this Medium article https://medium.com/@DETHER/the-good-the-bad-and-the-ingenuitive-what-it-is-really-like-to-buy-and-sell-cryptocurrency-8fdfbfc2aee7. In this thread, as you already understood, I want to learn about the ways of buying / selling crypto directly for cash.

As of now, I have only sold crypto for cash. Buying cryptos is much work but I might do it in the future. Anyways, selling crypto for cash is like selling a product then earning an exchange from it. Here in the Philippines, I already bought clothes and wrist wear as a salary-like from selling crypto. And it is pretty good. It might take too much work but it is worth it.

[Crumple Cat]

Few weeks ago i bought around 10k usd crypto with cash. Didnt use any wire transfers cause one of my friends was cashing out from crypto.
I never miss opportunities lol. Wire transfers are not my style.

Cool, thanks for sharing It would be interesting to know in such cases your opinion on Dether dapp, could it be suitable for you to conduct such deals in your country?

[Crumple Cat]

I live in Nigeria and I make use of Luno (www.luno.com) for all my transactions both for crypto  and fiat money. I directly exchange my ethereum from MEW or BTC to luno interface who now exchange to dollar and pay me directly to my local currency (Naira) in my local bank. If i want to buy any crypto coins Luno has an interface with my local bank GTB, all i have to do is to have the money in my account in GTB and then initiate the buying and it will be concluded with the crypto showing in my balance in Luno.

Thank you for such a detailed feedback, Rumexx!
This is so useful for my research

[purplemoon]

I never bought crypto for fiat money. But I sell regularly. I do this through Russian exchanges that work with fiat. Everything is clear and accessible. The transfer is credited to the bank card.

[Crumple Cat]

Hey guys,

I'm doing a little research now about using cash (paper money) for direct buying or selling crypto in different countries and I need your help. Could you share your experience of such deals in your country? In what way are you doing this? And what were the problems or the advantages of this way? If you can, please tell about which country you speak, then this research will be more practical.

The results of this research can help improve Dether dapp (https://dether.io/) the beta release of which will be in the coming days. The main strategic mission of this project is the breaking barriers to the mass adoption of Ether and crypto in general. The team believes that a convenient, decentralized, P2P way to buy and sell crypto for cash is able to significantly contribute to this and their opinion is shared by Consensys in the person of Ethereum co-founder, Joseph Lubin, which support them. I'm also long-standing and sincere contributor to Dether and I will be grateful to you for your help in this research

I think most of the members on this forum are investors rather than buy crypto for cash. For the most part, people who buy crypto for cash will often be less familiar with forums for professional investors to discuss 

Judging by the vote, I cann't agree with you In fact, buying crypto for cash is the same investment.