3 ways to buy cryptocurrency by paying with cash and without a bank account

Investing in cryptocurrencies is easier than many think. With an amount in pesos, no matter how small, anyone can buy bitcoin or so-called “digital dollars”. In a short time, without cepos and without needing to use a bank account: they can be paid in liquid.

In Argentina there are different forms of convert tickets directly in digital assets, without the money having to go through the traditional financial system.

Just as someone goes to a store, hands over paper money, and receives a pair of shoes or a pizza in return, they can also pay “cash” for it. deposit cryptocurrency in your own digital wallet.

This makes this investment also accessible to people unbanked. And this influences that he is sought after by those who want their money to stay less exposed official controls.

The mechanisms are diverse. In some cases, the money is deposited in a place of payment bills or at certain ATMs. In other cases, the money is Hand delivered to the seller, either in person, by mail or delivery.

This note details how they work three of the mechanisms which are now used in Argentina to convert physical money into digital cryptocurrencies.

Method 1: Buy cryptocurrencies for cash through digital “exchange houses”

A simple option is to use the Trades O brokers cryptocurrency, businesses that function as digital “exchange houses” buying and selling digital assets.

These sites, upon registration, open a free account on which the user can deposit pesos to acquire the desired cryptocurrencies with them.

Several brokers now accept that the client charges pesos into his account pay in bills then convert them to bitcoin (BTC), ethereum (ETH), litecoin (LTC), or cryptos that are still worth the dollar (like IAD, Attached O USD coin), among others.

Among the cryptocurrency “exchange houses” open to this possibility are:

• Gravel. Accept cash deposits made at any location in collection networks Rapipago Yes Easy payment. The amount paid is credited to the account at 24 hours skillful. The cost is a commission from 2.5%.
• Satoshitango. You agree to load the account with cash via Rapipago and of Easy payment, as long as the amount is greater than $ 1,500. The commission fee is 4.12% or from 4.24% respectively.
• Sesocio. Allows you to load the balance with tickets via Rapipago. It does not charge a commission for depositing money, but the balance can only be used within five business days.

On the other hand, many brokers, although they say they don’t accept cash directly, do help balance the load with Payments market or by transfer from virtual wallets What Wow O Orange X, which can be loaded in cash in extra-bank collection networks.

Method 2: buy crypto-currencies for money via exchanges between individuals (“P2P”)

Another way to convert pesos to cash into cryptocurrency is to use the platforms of “peer-to-peer” exchanges P2P (by equals).

These are websites that refer he wants to buy some cryptocurrency (give pesos) with another person who is interested in selling this same cryptocurrency (in exchange for pesos).

They operate like a “free market” crypto. Who, for example, has $ 10,000 to invest can publish in a P2P which wants to exchange them for a certain amount of bitcoin or the “digital dollar” tether (USDT), paying in a certain way.

can also consult the offers and the current prices published by those who have come to the market to sell the desired cryptocurrency.

Since there are compatible intentions, the system puts the parties in touch coordinate by chat and specify the exchange.

The interesting thing is that these platforms allow you to buy cryptocurrencies with a very large variety of payment methods, among which we find bank transfers but also money.

The most used P2P marketplaces in Argentina are Paxful and Binance, which not only contact the parties but also mediate for ensure compliance what was agreed. There are also Localbitcoins.

Paxful, for example, thus allows individuals to buy BTC, ETH and USDT, and makes a choice between more than 390 ways different to pay them. Several of them involve the buyer paying with invoices.

You can for example:

• Do a cash deposit to a seller’s virtual wallet such as Payments market O Wow, through local collections.
• Do a cash deposit to a seller’s bank account
• Do a charging cell on newsstands for the benefit of the seller
• Make it happenr money in the hand to the seller, either in person or by mail or a cadeteria service
• Send you gift cards purchased in different stores (with the possibility of acquiring them in cash)

“The P2P market is one of the main ways for people to unbanked enter the cryptocurrency market, ”explained Renata Rodrigues, Global Marketing Manager of Paxful.

“After having created their account and verified their identity, the user can look for an offer a seller with these payment methods or create your own offers buy with the methods they want, ”Rodriguez explained to Bugle.

When you start the operation, Paxful preserves cryptocurrencies to the seller. And once the payment is confirmed, transfer them and believe in the buyer’s wallet.

“When you are new to the business, it is advisable to work with users Good reputation and positive comments, ”they advised the company.

Method 3: buy cryptocurrencies with cash from ATMs

In Argentina, there is also special ATMs To which you can go deposit pesos in bills and receive in bitcoins (or sell that digital currency and take pesos in cash).

At the moment, there aren’t many ATMs that allow this. They are only a ten. They belong to Athena Bitcoin, an American company founded in 2013 which operate 4 thousand “ATMS crypto” across the continent.

How do you buy? Once at the ATM, the steps are as follows:

• Start-up and registration. You have to touch the ATM screen, choose the purchase option, enter the cell phone number and verify it with a code that arrives by text message (SMS)
• Cryptomonedero target. The digital currencies to be purchased will be deposited there. If the customer already has one, scan their QR code or enter the address manually. If you don’t have a Bitcoin wallet yet, the machine gives you one and prints the QR.
• Cash deposit. The customer presents the tickets, chooses the cryptocurrency they want to receive, presses “Finish” and indicates whether they want the receipt to be printed or emailed.
• End of the operation. Around 10 minutes, as soon as the operation is validated on the network blockchain, the purchased cryptocurrencies reach the informed digital wallet.

How much do they sell and at what price? The current price can be checked on this website. The company told Clarin that it allows this type of investment up to $ 60,000 per day and $ 400,000 per year.

Where can I find ATMs? In the AMBA there are two in downtown Buenos Aires, one in Palermo and others in Walmart branches (Constituyentes, San Fernando and Alto Avellaneda).

There are also Athena ATMs in On payment, at Rosario and in the cities of Cordoba Yes Mendoza. Details of the locations and their schedules can be viewed on this site.

MG

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