Before you decide to buy bitcoin with cash, you first need a secure place to store them. If you are new to the world of bitcoin, this storage place is called a wallet, and you need one for the transaction. There are different kinds of wallets available for bitcoin, and they come with different features. You need to go online and search for bitcoin wallets on Google. Visit their sites and check out these different features of bitcoin wallets like security, accessibility, and storage before you choose them. There are five types of bitcoin wallets, and they are paper, mobile, hardware, desktop, and online. Here, again it is important to note that bitcoin is not technically stored in your wallet. It gives you access to a unique private key needed by you to complete a bitcoin transaction. This key should be kept secret, or else you will not be able to access your bitcoin wallet at all.

How to buy bitcoin with cash for beginners?

If you are a beginner and looking for the correct and legal way on how to buy bitcoin with cash in your country, keep in mind the following steps-

  1. Make sure that you have a bitcoin wallet
  2. Choose a good exchange. Take time to research as the exchange needs to be trustworthy. Some exchanges focus on stealing your private information only. Read customer reviews online and choose an exchange that has been around for a long time.
  3. Look for a seller in your location who is ready to accept cash for bitcoin
  4. Choose the amount of coins you need and place your order
  5. The seller will give you an account number
  6. Deposit the cash in the account of the seller
  7. Upload the receipt of the transaction to prove it has been made
  8. Get your bitcoin and check your wallet.

Some sellers do not need personal information or verification of your identity. Again, some sellers might request it. So, check their trade history and ensure they have positive feedback.

Advantages of buying bitcoin with cash safely without scam

The biggest advantage of buying bitcoin with cash is the transaction is fast, private, and simple for you. Most of the time, you do not have to share your personal information at all. If you want to buy bitcoin quickly, using cash is the best way for you to do so.

However, you should know how to buy bitcoin with cash safely. Beware of scam exchanges, follow the rules, and ensure that the exchange is credible in the market. It might be difficult for you to buy large sums of bitcoin from exchanges. Credible exchanges that are safe and ensure secure transactions generally cost more compared to the fees for regular exchanges in the market. As a beginner in the world of bitcoin, keeping these best practices in mind when it comes to purchasing bitcoin with cash helps you to get secure transactions without hassles at all!