Want to buy Ethereum? A (very small) little less known than Bitcoin, this cryptocurrency is nonetheless enjoying increasing success. There are many ways to get your hands on Ether, the Ethereum currency. For more information, see our complete guide on the Ethereum.
You can thus acquire Ether by exchanging it for another cryptocurrency. You can also use fiat money to make your transaction. Using fiat-to-crypto buying platforms, you can buy Ethers by making a transfer or paying with your bank card. But what if you want to buy Ethereum in cash? A cash payment ensures maximum confidentiality, since the transaction is carried out without consulting your bank. Find out what the possible ways are.
Option 1: Peer-to-peer exchange
The concept might seem unsuitable when we talk about a dematerialized currency like Ethereum, but know that it is indeed possible to carry out an exchange from hand to hand. How does it work?
The first step is to go to one of the peer-to-peer (P2P) exchange platforms like LocalCryptos for example.
To simplify, one could say that these decentralized platforms function in a way like virtual markets. There where eBay or Etsy allow you to put in contact with a seller to buy a product, LocalCryptos allows you to get in touch with an Ether seller. Most platforms include an internal messaging service that allows you to chat with the seller. You will be able to use this messaging to set up a physical appointment.
Be careful, although we are talking about buying a cryptocurrency, the fact remains that you organize a money exchange with a stranger. The basic safety rules are therefore essential. First, it is your responsibility to choose a reliable platform. For that, we advise you to inform yourself and to use only those which have “storefront” on the Internet.
Then you should know that the platform’s responsibility ends when you contact a potential Ethereum seller. So that means you have to assess the reliability from your seller. How? ‘Or’ What ? Remember to check their profile, history and read the reviews left by platform users. Also take the time to chat with him on the messaging system in order to gather certain information and gauge its reliability.
Finally, choose an appropriate location to exchange. Where would you choose to sell your vehicle for example? Definitely you would choose a public place or a guarded room like a bank hall. The same principles apply to your purchase of Ethereum. Some offer a first meeting to meet the buyer before setting a second to complete the transaction.
Option 2: The vending machine
Another option is to purchase Ethereum directly from a vending machine.
Sites like CoinATMradar allow you to locate distributors available nearby. After opening a portfolio, choose the distributor that suits you and go there. You will have to go through an identity verification phase, then you can choose your wallet and deposit the cash in the ATM. The equivalent amount in Ethereum will be automatically transferred to your wallet.
Option 3: The cash mandate
More complicated, you can also fill out a money order to buy Ethereum. Some cryptocurrency buying sites accept payment by cash order. This is the case, for example, of ZeBitcoin. The cash mandate is a means put in place by La Poste via its banking sector, La Banque Postale.
Concretely, you just have to go to a post office, fill out the money order and give the money at the counter. The money is then deposited into the specified bank account. The sums that can be exchanged through this are capped at 1,500 euros per shipment. Also note that transaction fees apply.
Option 4: Prepaid cards
Another way is to use a Paysafecard prepaid card. This card can be purchased in cash at many counters, bars and supermarkets. It can then be used to make secure transactions online using its PIN code on cryptocurrency platforms that accept it, such as eToro.
The map Neosurf is also another prepaid card that can be used to purchase Ethereum. Available at tobacconists, the card also has a PIN code and has the advantage of being accepted by more cryptocurrency exchange platforms, including Bitboat or ZeBitcoin.
On the same principle, you can also buy prepaid recharges from tobacconists Digycode. Once you have created your account on the Digycode site, you must enter the secret code located on the card. You can then use the money on your Digycode card to purchase Ether.
What should you remember to buy Ethereum in cash?
It is possible to buy cryptocurrency with cash. This payment method is particularly suitable for buyers who wish to ensure their anonymity. It is a direct way to buy cryptocurrency without going through the services of a bank. Regarding the purchase of Ethereum in cash, there are several solutions. First, you can make an appointment with a seller and do a peer-to-peer exchange like a regular business transaction.
For a paperless transaction, some sites allow you to buy Ethereum directly from vending machines. Finally, the cash order and the cash purchase of prepaid cards are two other ways to buy Ethereum.
How to choose your payment method? There are two ways to do this. Either you already know a trusted platform you want to use for your transaction. In this case, inquire with this platform to see what means, among those mentioned above, are possible. Conversely, if the payment method is more important to you than the platform to use, choose the service you like and then find the appropriate platform.
Do you want to buy Ethereum in cash? Know that this is possible. Peer-to-peer exchange, ATM, cash money order or prepaid cards are some of the ways you can use. Choose the one that best suits your situation, follow the Ethereum lessons live and buy Ether! Attention, before making your transaction, choose the right wallet for your Ethers. Find out how choose your ETH wallet !