Buying bitcoins is becoming easier every day. In fact, at the time of writing, it is possible to buy bitcoins with a credit card or a bank account in almost every country. P2P (peer-to-peer) exchanges like LocalBitcoins and BitBargain are making it even easier to buy bitcoins with cash, without offering access to a broad market. If you want to buy large or frequent amounts of bitcoins, these P2P exchanges are not for you. However, if you are looking for a way to buy smaller amounts of bitcoins for cash quickly, then this is the best way to go. Here is our list of the best P2P bitcoin exchanges to buy bitcoins with cash.
LocalBitcoins is a community-driven P2P exchange. That means that it does not store your bitcoins, rather, it acts as the middleman between buyers and sellers of bitcoins. This can be a good or bad thing, depending on your perspective.
On one hand, it means that LocalBitcoins does not have much of a history and can therefore be more susceptible to fraud. However, this also means that LocalBitcoins is also more likely to have buyers and sellers willing to trade you cash in exchange for bitcoins.
PeerCoin is a P2P digital currency that works without a central authority. Although the concept of a P2P currency has been around for years, PeerCoin is one of the first cryptocurrencies to implement it.
PeerCoin also has an interesting history. It was created in 2012 by Anonymous, who wanted to create a currency that was decentralized and anonymous. In this sense, PeerCoin is similar to bitcoin, but with a few key differences. Namely, while bitcoin is decentralized, PeerCoin has a centralized entity (ie, PeerCoin owners) that can decide how the coins are distributed.
Paxful is another peer-to-peer exchange that allows you to buy and sell Bitcoin for cash. It is one of the most well-known P2P exchanges and has been around for quite a while.
Paxful is great for when you are looking to trade small amounts of cash for bitcoins (eg, $200 worth). Unlike some of the other P2P exchanges listed here, you will have to sign up for an account and link a bank account or credit card so that you can fund purchases.
BTC-e was one of the original “dark web” bitcoin exchanges. That means that it operated (and still operates) outside of the purview of government regulators. Although many consider BTC-e to be a high-risk exchange, it is perhaps the most user-friendly dark web exchange.
BTC-e allows you to trade bitcoins for a variety of popular cryptocurrencies and fiat currencies like the US dollar, British Pound and the Euro. It is particularly useful for bitcoin beginners because of its low transaction fees and easy-to-use interface.
Bitquick is advertised as the fastest and easiest way to buy bitcoins. Unlike some of the other exchanges listed here, Bitquick does not require any identification. All that it requires is a postal address.
To be clear, this does not mean that you do not have to provide any identification. Rather, Bitquick does not require you to upload copies of documents that prove who you are. Instead, you simply have to choose a verified postal address from a list of available addresses. After that, you simply have to wait for your bitcoins to arrive via standard postal mail.
Wall of Coins
Wall of Coins is one of the oldest and largest P2P bitcoin exchanges. It offers a wide range of payment methods, including bank transfers, gift cards, and Western Union. It is particularly useful for larger purchases.
Whether you are just beginning to learn about bitcoins, or you are an avid user looking to buy or sell large amounts of bitcoins, the options listed above are sure to satisfy your needs. At the end of the day, there are hundreds of ways to buy and sell bitcoins. These exchanges, however, are some of the most popular ways to buy and sell bitcoins with cash.