If you are wondering how to buy Ethereum with cash, you must have already considered the pros and cons. You can benefit from the simplicity of the process and the privacy that comes with it. The entire Ethereum (ETH) purchase process is relatively straightforward if you want to use cash. And it can save you some time and money. Also, no matter what you think of them, you don’t have to worry about annoying laws and regulations.
The easiest way to buy Ethereum
If you want to go the official route, the easiest way to buy Ether with digital currency is to browse any fiat-to-crypto exchange that supports crypto purchases with a digital currency of your choice.
Some of the best international fiat cryptocurrency exchanges include:
Once you’ve registered your account and linked it to your bank account and a crypto wallet, you’re good to go. Keep in mind that exchanges charge you a fee for the services they provide and you may have to go through a KYC / AML check before you actually buy anything.
If you do not want to go through the registration process, you can also buy Ethereum via instant exchanges like Changelly or shapeshift.
Decentralized Exchanges (DEX)
Alternatively, you can try a decentralized exchange. While they are slower and slightly more complex to use than centralized services, they often offer a level of privacy and anonymity that a centralized exchange cannot provide.
Some of the decentralized exchanges that offer fiat crypto services include:
- Waves DEX
Here you can buy Ethereum with digital currency. However, none of the above exchanges are enough if you want to buy ETH with old-fashioned cash.
How to buy Ethereum with cash?
If you insist on cash and don’t mess with paperwork, the best way to buy Ethereum with cash is peer-to-peer (P2P) exchanges. These decentralized platforms act as virtual marketplaces for Ethereum holders. Think of it as an eBay, much less formal and with less bells and whistles.
How to buy ETH with cash via peer-to-peer platforms?
LocalEthereum is one of the most famous players out there. You can use it as a well established and relatively safe platform to spend your money. However, it is entirely your responsibility to determine how to deal with someone who wants to sell you Ethereum and whether or not they can be trusted. The best way to measure another person well is to browse through their profile, history, and ratings by other platform users.
P2P exchanges such as LocalEthereum often offer internal messaging services that allow you to schedule a meeting with a vendor. It is best to hold these meetings in public places, as these are hard money and anonymous people. You can learn about local cafes and crypto enthusiasts in your area as you meet like-minded people along the way.
Once you have determined that the person you deal with is legal, you can discuss, for example, how to sell Ethereum for cash. Yes, this is another option where peer-to-peer exchange is beneficial.
However, it’s not the only way to sell ETH for cash, as mentioned crypto exchanges like Coinbase or Kraken can do the same. They also function as your personal Ethereum cash exchange, provided they support Ethereum matching with your currency.
Buy ETH with cash from Ethereum ATM
Finally, you can buy Ethereum from your local Ethereum ATM or ATM. Sites like CoinATMradar.com can direct you to someone.
- 1. Get an Ethereum wallet: Any simple Ethereum wallet is sufficient, be it Metamask, Blockchain.info, Jaxx, BRD or MyEtherWallet. If you want to ensure the security of your wallet, any hardware wallet that supports Ethereum is sufficient – be it Trezor or Ledger.
- 2. Find your nearest ATM: Use CointATMradar or a similar service.
- 3. Place an order: Touch the machine’s touch screen and follow further instructions. Choose Ethereum as your chosen cryptocurrency. Some ATMs may ask you to verify your identity or phone number for important transactions, so if this happens, you will need to do so.
- 4. Scan the QR code and complete the purchase: Access your ETH wallet and find your public key. Scan with the camera of the ATM, put cash into the machine and follow additional instructions to complete the purchase.
- 5. Get Ethereum in your wallet: So much! As soon as your transaction is confirmed, you will receive ETH in your wallet.