If you’re just starting your journey into the world of cryptocurrency and are a bit confused or overwhelmed, it’s not your fault. It can be a bit tricky to get a good handle on crypto. But it’s worth it!
One of the first barriers to crypto adoption is that people don’t really get how to buy crypto. And, more importantly, how to do so with cash.
In this article, we’ll analyze the most common methods to purchase cryptocurrency and explain how you can get your hands on some Bitcoin without the need to use your credit card.
Why Cash May Be Preferred
It’s not unusual for people to prefer cash when it comes to buying crypto —or any other asset for that matter. While credit and debit cards may be popular, cash purchases are private and usually relatively quick, and using cash has become one of the easiest ways to get crypto. On top of that, for whatever reason, many people are unbanked and have no access to a credit card or other payment methods to buy coins on exchanges. So, they need to use cash.
The main option to buy crypto with cash is heading over to a Bitcoin ATM. The concept is pretty self-explanatory. Bitcoin ATMs are kiosks where a person can buy Bitcoin and other cryptocurrencies using cash.
Bitcoin Depot is the largest of these Bitcoin ATM operators. They offer over 7,000 kiosks placed in convenient locations throughout the US and Canada.
Bitcoin ATMs have several advantages compared to other methods for buying crypto with cash.
On the one hand, they are a lot more convenient and quicker. With Bitcoin ATMs, all you need to do is locate a kiosk near you —and you know it will always be there when you need it. In fact, the process is pretty straightforward. In general, all you need to do is create a digital wallet (if you don’t already have one), sign up with your Bitcoin ATM provider and verify your account, head to the ATM, insert the cash, and get the crypto in your wallet. The entire process takes just a few minutes.
But Bitcoin ATMs are Not the Only Way to Convert Cash to Crypto
Now, let us tell you a little secret: There’s a new way Bitcoin Depot is allowing you to get crypto with cash. Bitcoin Depot offers a way to convert that cash to Bitcoin using their mobile app at the cash registers of participating retailers. Let me explain.
It can’t get any easier than this. All you have to do is follow six simple steps:
At Bitcoin Depot, we want to make cryptocurrencies more accessible to everyone, regardless of their preferred payment method. We’ve designed this new method with that goal in mind, hoping to make it easier for everyone to buy crypto with cash, especially beginners who might be feeling a bit lost.
So, download the app, head to your favorite retailer, and give it a try!