What other ways are available for purchasing Bitcoin?

[KiaKia]

Charles Hoskinson stated that cryptocurrency needs to cut ties with banks, how do you think this will work out? Because I use Fiat through Bank to purchase Bitcoin and other altcoins, is there any possible way that this can work out? What ways can someone buy Bitcoin without the help of Banks?

[Cantsay]

I think the real peer-to-peer would work I mean meeting up with someone you know that wants to sell his or her coin and buying directly from there, although you'll still need purchasing power which could be through transfer or paying directly with cash.

If we're only excluding debit cards or credit cards then we would have several options but removing banks from the picture would be difficult. And again how would the bank know which transaction is from a bitcoin/crypto sale? I remember when we had some restrictions by cbn we were still able to trade without them noticing so I don't think it's possible to cut tie completely with banks.

[mk4]

I'm not sure, but I think what he meant here is that crypto projects shouldn't be using banks for their overall fiat holdings. Especially now that Silicon Valley Bank is trying to cut ties with crypto-related startups.

[m2017]

Charles Hoskinson stated that cryptocurrency needs to cut ties with banks, how do you think this will work out? Because I use Fiat through Bank to purchase Bitcoin and other altcoins, is there any possible way that this can work out? What ways can someone buy Bitcoin without the help of Banks?

Is it possible to buy bitcoin without banks? Hardly. Because cash is a derivative of the banking system.

Is it possible to get bitcoin without banks? Yes, you can. Offering your goods or services for btc. Sell something - get BTC. In the future, you will be able to buy using btc as a means of payment.

That's when there will be a gap bitcoin from banks, when people will interact directly p2p. The more that goes into this, the more the system will grow strong and be able to empower users.

[xzy887]

Do you want to buy bitcoins for free, without the help of banks? Of course not, because if you want to buy Bitcoin, you have to buy it with your own money. Now you can use other ways besides banks to buy bitcoins. One way is through P2P. You can also buy BTC directly from other people if possible from someone who sells you Bitcoin.।Otherwise you will find many buyers or sellers on Binance who can buy and sell Bitcoins from there if you want P2P. For that, you have to do the transaction in any way, even if you don't do the transaction through the bank.
(As I don't know which country you live in and what is the other way of transaction in your country other than bank. You can buy bitcoins without the help of a bank, just as you would transact with others without a bank in your country.)

[avikz]

Charles Hoskinson stated that cryptocurrency needs to cut ties with banks, how do you think this will work out? Because I use Fiat through Bank to purchase Bitcoin and other altcoins, is there any possible way that this can work out? What ways can someone buy Bitcoin without the help of Banks?

I second the opinion of mk4 here! Cutting the ties here means banks shouldn't fund crypto projects due to high risk and also not to provide banking services to them. And in many countries banks actually do not provide banking services to crypto companies.

The alternative way is to use peer to peer networks like bisq or paxful to buy or sell cryptos. I have been using localbitcoins since a long time now but unfortunately they have closed their services in February. You may want to explore the platforms I have mentioned above.

[coinerer]

Charles Hoskinson stated that cryptocurrency needs to cut ties with banks, how do you think this will work out? Because I use Fiat through Bank to purchase Bitcoin and other altcoins, is there any possible way that this can work out? What ways can someone buy Bitcoin without the help of Banks?

If you want to buy bitcoin on online.  Then you must use your Debit/Credit/Visa Card or Mobile Banking, PayPal, Google Pay, Apple Pay any of which are connected to the bank so you can never buy bitcoins on online without the help of the bank. But one way you can buy bitcoins without the help of a bank with cash is if someone around you sells bitcoins and you are physically present to receive bitcoins from them in exchange for money called peer-to-peer transactions.

[Gayong88]

If we look at it so far, there are several ways to buy Bitcoin without the help of a bank. One way is to do it using a credit card to buy Bitcoins from exchanges or online marketplaces. Credit card purchases are usually instant and can be made without a bank account.

Another option in my opinion is to use cash to buy Bitcoins from peer-to-peer marketplaces that provide Bitcoin trading services. This method requires the buyer to find a seller willing to accept cash, and the transaction is usually completed in person. Additionally, some exchanges allow users to buy Bitcoins with prepaid cards, which can be purchased without a bank account.

Finally, users can also buy Bitcoins from ATMs, which is an easy way to buy Bitcoins without a bank account with a note when one is available.

[Jawhead999]

The alternative way is to use peer to peer networks like bisq or paxful to buy or sell cryptos. I have been using localbitcoins since a long time now but unfortunately they have closed their services in February. You may want to explore the platforms I have mentioned above.

It's still not solve the problem because you're linking your bank account on the Bisq, paxful or any other exchange. If you're really want to cut ties with bank, you need to make sure for not leave any trace where the original source of the money come from Bitcoin, so you're only can do directly P2P or just spend it.

Honestly it's hard if you want to exchange your Bitcoin to fiat without banks, not to mention it's illegal to be honest.

[tjtonmoy]

I think what OP is trying to say is that by buying through Bank's fiat transfer, you are risking your privacy while making the transaction. I don't think other options are quite reliable as bank transfer.
If you buy it in a face to face deal, that has its own risks too. Your privacy is compromised, and you are risking your life by dealing with some stranger.
One secure way to acquire BTC could be through ATM if it is available in your area.

I would like to see what other people have to say about it. I want to know too.

[noorman0]

There are several online payment/wallet apps in my country (regulated) that are accepted for deposit methods on some local crypto exchanges. It's not difficult to top up wallet balance because retail partners are available even around me (remote area). This application also allows you to buy bitcoin f2f or exchange crypto vouchers/giftcards between anyone who is willing.

[Fiatless]

Charles Hoskinson stated that cryptocurrency needs to cut ties with banks, how do you think this will work out? Because I use Fiat through Bank to purchase Bitcoin and other altcoins, is there any possible way that this can work out? What ways can someone buy Bitcoin without the help of Banks?

For now I don't think cryptocurrency can cut it's relationship with banks because the world financial system currently is fiat dominated. Most countries are not accepting cryptos and some are very hostile to it which means the only means of doing any form of business there is through banks. If you want to fund crypto projects, bank must be involved. This will continue to be the case until the crypto system develop a widely accepted crypto banking systems that offers the same services like normal banks. The greatest achievement of cryptocurrencies will be it's ability to build an effective P2P system that is effective, globally accepted, easily accessible yet promotes privacy.

[rozak]

I'm not sure these two will cut ties. if there is a bank that makes regulations for the prohibition of deposits or withdrawals to crypto exchange platforms. this might annoy many users of the bank. P2P trading may be an option. but for users who trade on local exchanges, for which of course financial access is likely to come from banks, I'm sure the exchange platform developers will collaborate with many banks to make it easier for their members.

[tisnaislam111]

There are several ways to buy Bitcoin without the help of a bank. Here are some of the most common options:

Peer-to-peer (P2P) Marketplaces: P2P marketplaces like LocalBitcoins, Paxful, and BitQuick allow buyers to directly connect with sellers and purchase Bitcoin using various payment methods, including cash, gift cards, and bank transfers.

Bitcoin ATMs: Bitcoin ATMs are machines that allow users to buy Bitcoin with cash or debit/credit cards. These machines are becoming more common and can be found in many major cities around the world.

Online Exchanges: There are several online exchanges like Coinbase, Binance, and Kraken that allow users to buy Bitcoin using various payment methods. However, these exchanges may require users to link their bank accounts or credit cards to make a purchase.

Bitcoin Vouchers or Gift Cards: Some services allow users to purchase Bitcoin vouchers or gift cards that can be redeemed for Bitcoin. These vouchers or gift cards can be purchased in stores or online using cash or other payment methods.

It's important to note that buying Bitcoin carries risks, and it's essential to do your research and only buy from reputable sources. Additionally, it's important to keep your Bitcoin secure by using a secure wallet and taking other necessary precautions to prevent theft or loss.

[worle1bm]

If you are converting them into fiat then you have to go through the banks because you have linked up your accounts with exchanges where you can directly withdraw to your accounts.But yes if you want to completely avoid it then you would have to go through P2P ways and transfer btc to them and get cash from them or if you want in your account the bank will again be involved in that case.The banks have regulations for it and you might have to pay tax for profits earned but no such prohibitions according to me.

[davis196]

Charles Hoskinson stated that cryptocurrency needs to cut ties with banks, how do you think this will work out? Because I use Fiat through Bank to purchase Bitcoin and other altcoins, is there any possible way that this can work out? What ways can someone buy Bitcoin without the help of Banks?

There are mobile payment apps that can serve as an alternative to the banks, like Revolut, Verve, Monzo, Monese, Bunq, etc. However, I think that most of those apps actually rely on some banking services more or less.
Bank transfers(including credit/debit card payments) are still the most convenient(and probably the cheapest) way to buy Bitcoin/crypto.
You could buy BTC using gift cards on Paxful, but the rates aren't affordable.
The banks are more of less unavoidable, when it comes to financial transactions in general. The entire financial system is designed in a way that prevents the people from bypassing banking services. Even the crypto industry still can't find a way to make the banks completely obsolete.

[2girls]

Charles Hoskinson stated that cryptocurrency needs to cut ties with banks, how do you think this will work out? Because I use Fiat through Bank to purchase Bitcoin and other altcoins, is there any possible way that this can work out? What ways can someone buy Bitcoin without the help of Banks?

The vast majority of cryptocurrency transactions still involve fiat currency and traditional banks. While it may be possible to imagine a future where all transactions are conducted in cryptocurrency, we are still far from that reality.
there are ways to buy cryptocurrency without the help of banks. For example, peer-to-peer marketplaces such as LocalBitcoins allow users to buy and sell cryptocurrency directly with other individuals, bypassing the need for a bank account

[cafter]

Charles Hoskinson stated that cryptocurrency needs to cut ties with banks, how do you think this will work out? Because I use Fiat through Bank to purchase Bitcoin and other altcoins, is there any possible way that this can work out? What ways can someone buy Bitcoin without the help of Banks?

One way is to buy bitcoin is by cash , means you give paper money to your neighbor or anyone one who want to sell bitcoin to you, you both can contact on a website(this type of website will many people will surely make, when this situation is happened or i m not sure even this type of website are now maybe available or may not) where any seller and buyer will contact and exchange their cash and bitcoin by physically meeting each other or using a escrow,
it's just a small idea of exchanging according to my thinking, i don't think it's(banks don't provide fund to people to buy crypto) going to happen but when this type of situation occured than buying bitcoin will be not more like an investment but seem like buying drugs and illegal thigs from black market   .

[TheUltraElite]

Charles Hoskinson stated that cryptocurrency needs to cut ties with banks, how do you think this will work out? Because I use Fiat through Bank to purchase Bitcoin and other altcoins, is there any possible way that this can work out? What ways can someone buy Bitcoin without the help of Banks?

Bisq network might help on this case. In general paying has to be done from th buyer's side with a valuable asset in above cases it is fiat. We are yet to find options on how to eliminate that. You can't just buy Bitcoin from thin air, just like buying gold you need to pay with something.

P2P systems might come in future to streamline this but I see this an uptapped market indeed.

[Dr.Osh]

As far as I know, fiat will still be associated with banks, because fiat from a country has value and is printed from banks. So, if you want to buy bitcoins without the help of fiat from a bank, then it will be difficult. unless, you do P2P or make transactions directly, and do it with a barter system like exchanging valuables for bitcoins, like gold, cars, houses, or other things.