How to buy Ethereum with cash?
If you are wondering how to buy Ethereum with cash, you must have already considered the pros and cons of doing it. When it comes to benefits, two advantages first come to mind: the ease of the process and the privacy that goes with it. If you want to use paper money, the entire process of buying Ethereum (ETH) is even faster and, more importantly, there are no fees involved. In addition, you do not have to worry about those pesky laws and regulations, whatever your opinion of them may be.
Yes, this seems like an easy option, but it can be described as such only if you know which door you need to knock on and what the risks involved are. If you want to go the formal way, the easiest method of buying Ether with cash is to check any respectable crypto exchange that supports transactions with the fiat currency you want to buy with and check what’s on offer there. Once you register your account and link it with your bank account and a crypto wallet, you are good to go. Bear in mind that exchanges will charge you a fee for the services they provide.
Yet, if you insist on cold hard cash in form of physical money and you do not care about the formalities, the best way to buy ETH with cash is to do it via peer-to-peer exchanges. These decentralized platforms function as virtual marketplaces for Ethereum owners. Think of it as an eBay, just much less formal and with fewer bells and whistles.
LocalEthereum is one of the most well-known players here and it is sufficiently established that you can approach it as a relatively safe platform to spend your cash on. Yet, how you deal with a person who wants to sell you Ethereum and determine if he/she is trustworthy is entirely your responsibility.
Platforms such as LocalEthereum usually offer internal messaging services which allow you to arrange for a meeting with a seller. Since the hard cash and unknown persons are involved, the best thing to approach this is to organize these meeting in public places. You can also check information on local cafes and meeting places of crypto enthusiasts in your area and meet like-minded individuals in the process.
Once you determine that everything is legit, you can, for example, exchange opinions on how to sell Ethereum for cash with them. Yes, that’s another option for which these peer-to-peer exchanges are useful. Yet, they are not your only address if you want to sell ETH for cash, as the mentioned crypto exchanges such as CoinBase or Kraken can do the same for a fee. At the same time, they fill function you as your personal Ethereum cash exchange, provided that they support the pairing of Ethereum with your currency.