How to buy Bitcoin with cash

Using cash is the perfect way to maintain your anonymity online. This guide explains how you can get hold of Bitcoin that way, and how to compare the platforms that offer it as an option.
By: Jonah Keri
Jonah Keri
Jonah Keri is a trader and analyst who spent 11 years at Investor's Business Daily covering the markets. He… read more.
Updated: Jun 23, 2021
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There are a variety of different services that allow you to swap cash for Bitcoin. This guide will explain your options, and examine the pros and cons of making an investment this way.

Where can you buy Bitcoin with cash?

We’ve assembled a list of the best services that accept cash and will make the process as quick, simple, and inexpensive as possible.

Min. Deposit
Exclusive promotion
Our score
Accepts customers from the USA
Offers 15 crypto coins to buy&sell including BTC, LTC, ETC, NEO and more
Trade on the world's leading social trading and investing platform
Start Trading
eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.
Payment Methods
Wire Transfer, Bank Transfer
Full regulations list:
Min. Deposit
Exclusive promotion
Our score
Margin Trading with full legal compliance
Cryptocurrency staking
Various Payment options
Start Trading
Description: offers exchange of fiat currency for Bitcoin Ethereum, Tether, and 23 other cryptocurrencies, as well as Bitcoin/Ethereum trading against the USD.
Payment Methods
Credit Card, Debit Card, Wire Transfer, Cryptocurrencies, Skrill
Full regulations list:
Min. Deposit
Exclusive promotion
Our score
The broker offers access to a trusted MetaTrader trading system
Pricing is ensured to be completely transparent, also providing accuracy and speed
Trade a Wide Variety of Assets with Leverage up to 1:500
Start Trading
LonghornFX is a true ECN STP broker dedicated to delivering a superior trading experience to traders no matter their level of experience. Their services are based on transparency, innovation and efficiency, ensuring an unparalleled trading experience for all.
Payment Methods
Credit Card, Debit Card, Visa, Bitcoin
Full regulations list:
LonghornFX offers high-leverage trading on a wide variety of assets. Trading with leverage carries a degree of risk which may result in losing more than your investments. Clients should practise risk management to protect themselves from losing more than they can afford when trading with leverage.

What does it mean to buy Bitcoin with cash?

Unlike with a bank transfer when funds are sent electronically, when we talk about using cash we are referring to physical cash – the kind you can hold in your hand. The primary reason that someone might opt to use this method is to ensure anonymity and privacy.

How to deposit and withdraw via cash


If you’re using an exchange that accepts cash payments, like BitQuick, you can follow these steps:

  1. The seller places their Bitcoin into escrow.
  2. The buyer deposits their cash to make the purchase.
  3. To make that deposit, the buyer must go to the seller’s bank to deposit the cash.
  4. The buyer must then upload the bank receipt to confirm that the deposit has been made.
  5. The seller transfers the coins.


If you’re making a withdrawal via an exchange like BitQuick, the process is simply reversed, with the withdrawal still taking place at the bank.

What should I look for in a cash Bitcoin service?

Cash purchases are not done through brokers. Instead they’re done through exchanges, intermediaries, or Bitcoin ATMs. Therefore, what you need to look for will vary. Broadly speaking, though, here’s what you should consider.

  • Lowest possible fees. If low fees are a key goal, you’ll want to avoid Bitcoin ATMs, which can charge fees of up to 10%.
  • Speed. The plus side of Bitcoin ATMs is the speed with which you can withdraw your Bitcoin. On the other hand, intermediaries like LocalBitcoins and WallofCoins and exchanges like BitQuick require some matchmaking and transaction processing procedures that make the process take longer.
  • Ease of use. Bitcoin ATMs are the easiest to use, but they’re not always easy to find and they’re expensive.
  • High limits. Any cash Bitcoin service is going to limit the size purchase you can make. If you’re looking for a larger transaction, you’ll need to do your homework to find a service that provides a relatively high transaction limit.
  • Not getting scammed. The anonymity and privacy comes with a dark side, which is that certain services put you at greater risk for scams. Make sure the service you use strikes the best possible balance between privacy and security.

Should I buy Bitcoin using cash?


  • Privacy and anonymity. Using hard cash is the most discreet method there is. If you want to remain anonymous, this is the best route for you.
  • Speed. If you can find a Bitcoin ATM near you, it’s much faster than, say, going through the verification process involved with a bank transfer.
  • Easy to do (in some cases). If you can find a Bitcoin ATM, you’ll find that it’s about as easy a method as there is. (On the other hand, exchanges and intermediaries often required complicated processes to match up cash buyers, and sellers.)



Can I buy Bitcoin anonymously with cash?
How fast is using cash?
Do I need a crypto wallet?
Are there low fees when using cash?
Can I use cash for other cryptocurrencies as well?
Are cash transactions instant?
Is cash the easiest way to get Bitcoin?
Does Coinbase accept cash?
What’s the biggest pro and con of using cash on a peer-to-peer exchange?
How easy is it to find a peer-to-peer exchange that lets you use cash?
Is cash recommended for smaller Bitcoin purchases?
Is using cash recommended for larger Bitcoin transactions?

Fact-checking & references

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Jonah Keri
Financial Writer
Jonah Keri is a trader and analyst who spent 11 years at Investor's Business Daily covering the markets. He now writes about stocks, cryptocurrencies, and other… read more.