Buying Bitcoin for cash involves certain risks. If you buy a physical product, you can inspect it and pick it up. A cryptocurrency transaction takes some time, and physically you do not receive any evidence of your purchase. These are used by many scammers. Today we will consider what you need to consider in order to buy Bitcoin for cash profitably and safely.
How to buy Bitcoin in Russia for cash – the best ways there is a saying, «Demand creates supply.» Demand for the purchase of Bitcoins for cash has led to the fact that there are now a lot of offers for the sale of cryptocurrencies for cash. Moreover, we will not consider bank transfers or other options for transferring money. Let’s talk specifically about buying for cash. There are several ways to do this:
- search for a seller on-topic forums;
- sites such as localbitcoins.net;
- bitcoin ATMs.
What to look for when buying
The purpose of buying Bitcoin for cash is the same – not to pay commissions to intermediary services. If someone from your friends or relatives whom you can trust wants to sell Bitcoin, then you can conduct an operation between yourself. But what if there are no such people? Turn to virtual friends. Many users make an appointment in real life and conduct a deal. One of the most popular forums in the crypto community is bitcointalk.org.
In this case, several points should be taken into account in advance:
- Exchange rate and additional payments. It is no secret that the exchange rate may differ on different exchanges; therefore, it is important that the buyer and seller monitor the price on one service. For example, in the ad that we see above, the author offers the sale of BTC at the rate of Bitstamp + 3%.
- Security. It is important to specify a venue in which the transaction will be held as safely as possible for both parties. Do not settle for meetings in roadside cafes, parks. Choose crowded places. The ideal option is a bank. There, the seller can check your cash, and you will be confident in your safety. Also, when buying for a large amount, try to bring money so that no one knows about them, do not talk about your plans, and do not attract too much attention.
- Reviews If someone offers you Bitcoin to buy for cash rubles, then, first of all, read the reviews that are on the network by nickname in Telegram or phone number. If this is a forum user, then look at his karma, activity.
How and when the course grows
The Bitcoin Cash rate is growing when Bitmain opens sales of new lots of ASIC’s. This is due to the fact that starting in October, the company sells new equipment only for Bitcoin Cash. According to the CEO, this is due to net savings, since the fees of the Bitcoin Cash network are much lower than the same Bitcoin fees.
Follow the official BITMAINtech twitter to keep up to date with new arrivals. The nearest acceptance of new orders is expected after the Chinese New Year (in February). So, from the second half of February, we can expect a new wave of growth.