Bitcoins can now be purchased using all methods:
- You can buy them using a canap transfer or debit card from Cex.io,Coinmama and many others.
- You can buy them using PayPal, Payoneer and other online payment systems.
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Ter this tutorial, I will showcase you the precies process you need to go after to buy bitcoins te your country using metselspecie. This method works for most countries te the world (and I can personally verify that it also works te India).
Word of warning: You should have some basic skill of Bitcoin to ensure you’re doing the transaction sleekly, securely, and securely.
- Why do people buy/sell bitcoins ter metselspecie?
Well, there are many reasons. One reason is that buying te metselspecie from P2P marketplaces gives you more anonymity.
When you buy bitcoins from an exchange or a popular Bitcoin webpagina, you arm overheen your individual details to finish the business’s KYC (know your customer).
This takes away the anonymous nature of Bitcoin transactions (which is one of the core reasons for Bitcoin’s existence). But when you buy from an independent seller, your transaction is 99% more anonymous than buying from other sites.
P2P Marketplaces for Bitcoins
Ter this tutorial, you will learn about P2P sites which are like eBay for Bitcoin.
Thesis sites connect independent buyers & sellers, and they use the P2P toneelpodium to do the transaction.
The downside is that you need to ensure the safety & security of the transaction on your own.
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Here are a few significant tips to keep yourself secure when dealing with bitcoins for contant:
- Make sure you buy bitcoins from a seller with high reputation (more on this straks).
- Meet the seller at a public place te broad daylight.
- Do not exchange unrequired individual details when you meet with the seller.
- Wait for the transaction to confirm at least twice.I usually wait for 3-4 confirmations. Sometimes it takes about 5-15 minutes for the transaction to confirm numerous times.
So now that you have learned some of the basic abilities to keeping yourself secure when turning contant into Bitcoin let’s stir ahead & learn how to purchase bitcoins using contant.
This technology works for most countries like India, USA, UK, Australia, Nigeria, Canada & many others.
There are a few good P2P websites for Bitcoin:
- LocalBitcoins(Most popular & most trusted)
- Paxful(Upcoming but prices here are way higher than Localbitcoins)
- BitSquare(A desktop app with a few active traders)
Thesis are some of the popular P2P Bitcoin exchanges you can use. I like using LocalBitcoins for such transactions, and only have good things to say about them.
One major advantage of LocalBitcoins: Merienda you have done some transactions, your profile gets a higher reputation, and ter the future, you can also embark selling bitcoins for profit.
How To Purchase Bitcoins Using Metselspecie:
- Head overheen to LocalBitcoins & create your account.
- Make sure to verify your email and mobile number.
- Enable the Two step authenticator (if you know how to use this).
Here is a screenshot of my profile:
Merienda you are done setting up your profile (usually takes 5-10 minutes), head overheen to the homepage & add your location and payment method that you wish to use for buying bitcoins. Ter this case, select
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Click on “Search” & you will see the results on the next pagina:
Take notice of the number of transactions & the reputation percentage. I would suggest doing business with a person who has a high number of transactions and a good reputation (even if they’re more expensive than others).
Also, pay attention to the Price/BTC & Thresholds columns. The Thresholds katern shows the maximum amount (ter their currency) that they can accept.
For example, ter the above screenshot, deepaksingh is only willing to trade bitcoins worth 20,000 INR ($350). That is less than 1 BTC.
If you wish to buy 1 BTC or more, you need to find a trader who is suggesting more. For example, qtrse & libin (ter the above screenshot) will be able to sell a higher number of bitcoins.
Merienda you have identified your seller, simply click on “Buy.” This will take you to the listing pagina.
Here, read the Terms of trade on the right-hand side.
This is significant. Make sure you read every word.
Most contant traders list their phone number so that you can talk to them overheen WhatsApp or Telegram. Merienda you have spoken to them on the phone, you can send the trade request.
The seller also has to accept the trade request & when they do, their bitcoins are locked ter LocalBitcoins escrow. Now, based on your terms, meet the person at a public place & exchange the metselspecie.
Significant : Make sure the seller confirms the transaction ter vooraanzicht of you.
Here’s how you can check the transaction confirmation
Go to this listig & substitute the wallet address with yours (The one te which you are receiving Bitcoins)
Ter the above screenshot, you can see two different transactions. One with two confirmations & last one with 13 confirmations. You should wait for 3-4 confirmations to ensure the transaction is confirmed. Usually, it takes about 5-15 minutes but on some day this can take up to an hour.
Te my case (I did one moderate transaction while writing this tutorial), the seller sent another person to pick up the specie. When he picked up the metselspecie, he confirmed with the seller overheen SMS & the seller released the escrow funds.
Note : If the trader is of a high reputation, at a zometeen stage, you can overeenkomst directly with them. This way, you can always ask for a lower price than what is listed on LocalBitcoins. Most reputable traders will accept thesis deals since LocalBitcoins charges about 1% of transaction value spil a toverfee from the seller.
I wasgoed live streaming this entire thing on my Instagram channel. Here is the compiled movie:
Peak: If you wish to store the bitcoins for a long-term investment, make sure you transfer the bitcoins to your secure wallet. The best is to use a hardware wallet like Ledger Wallet, Trezor, or KeepKey.
Do let mij know what other things you do to ensure the safety & security of trading bitcoins for contant.
If you find this tutorial useful, do share it with your friends on Facebook & Twitter!
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