Bitcoin is a peer to peer, decentralized digital currency. The currency is free from any third-party influence like governments, the central bank, or a governing authority. The currency promises to revolutionize the traditional way of spending money in near future.
Bitcoins are not real coins. It’s a currency that is based on a string of codes and locked with encryption keys. The transactions made through bitcoins leave no traces behind, giving those involved complete anonymity.
There are several different ways to buy bitcoins but the most common way is buying through cash exchanges.
Buying Bitcoins Through Bitcoin Cash Exchanges:
Buying bitcoins through cash can be confusing at times. Especially for those doing it for the first time. But don’t worry, we have compiled a list of Bitcoin cash exchanges that make the whole process simple and straightforward. The list includes:
LocalBitcoins is a reliable Bitcoin escrow service from where you can cash deposit or cash trade in person. A quick step by step guide on LocalBitcoins includes:
- Find a local seller who is willing to trade in cash
- Choose how many coins you want to buy
- Receive seller’s account number
- Deposit cash into seller’s account
- Upload money-deposit-receipt as a proof
- You are ready to receive bitcoins in your LocalBitcoin wallet
BitQuick connects you with sellers where you can pay with Bitcoin and buy products online. For now, BitQuick is only available in the US and works the following way.
- First, you will need to find a seller
- After finding a seller, discuss the price for bitcoins
- Receive seller’s bank account number
- Deposit cash into seller’s account
- Upload receipt as a proof
- Receive bitcoins
Wall of Coins:
A peer to peer bitcoin exchange. Wall of Coins offers a number of bitcoin payment methods; however, the cash deposit is the most common method that they offer.
Wall of coins is one of the largest cash bitcoin exchange in the US with over 100,000 deposit locations across the country.
Apart from the US, it also operates in some major countries like Germany, Canada, Latvia, Poland, Argentina, etc.
LibertyX offers its services at a number of retail stores across the US. However, it requires the buyers to provide their identity which makes it less private compared to those mentioned above.
The maximum limit on buying bitcoins online from LibertyX is $1000, with 1% fee on each purchase.
One of the unique features of LIbertyX is that it grants $1000 worth of bitcoins for free to those who sign up through Facebook.
Bitcoins through ATM? Yes, you read it right. You can buy cryptocurrency through Bitcoin ATMs with only cash. Bitcoin ATMs require no verification, making it one of the most private ways of buying coins.
The average transaction fee through bitcoin ATMs is 5-10%, which is completely acceptable to those who want 100% privacy.
Bittrex is a USA based digital currency exchange that offers fast trade execution, protected wallets and cutting-edge security measures to ensure the safety of your funds. It is said to be supporting more than 190 cryptocurrencies with a market cap of $354,425,501.
Bitfinex is a cryptocurrency trading platform based in Hong Kong that offers peer-to-peer trading of all major cryptocurrencies. It’s known for its customizable interface, security and variety of digital currencies.
Bithumb is a Korean cryptocurrency exchange portal which is known for its reasonable price rates for bitcoin traders, ability to make quick real-time transactions and protection of every users’ assets with SMS verification. It is currently having a market cap of $314,531,860.
Kraken is a San Francisco based cryptocurrency exchange established in 2011. You can exchange multiple digital currencies as well as buy bitcoins. The currencies traded include Bitcoin, Dogecoin, Litecoin, Ripple, Ven, U.S. dollars, the Korean won and the euro. Moreover, Kraken is known for its security measures to prevent any sort of illegal activities to take place.
GDAX is a U.S. based exchange that offers a spontaneous, trusted and secure interface, along with full insurance of the funds held online. It is also backed up by major investors such as Union Square Ventures, Andreessen Horowitz, and the New York Stock Exchange. Currently, the market cap of GDAX is at $104,995,957.
These are some of the top exchange bitcoin for USD through which you can buy coins. Each exchange has different terms and conditions for its users. Make sure you go through them carefully before acquiring their services.