Bitcoin and other cryptocurrencies are fast becoming more widely accepted and people and many businesses are now allowing them as a mode of payment. Digital currencies are also seen by many as great investment vehicles because you can buy the coins when the price is low and sell them when the price increases. This is the way that many investors believe they can make good profits.  However, the prices of most virtual currencies are very volatile. This means that you need to take calculated risks when you invest in them so you don’t lose everything.

If you want to get a slice of the pie from the lucrative cryptocurrency trade, you will first need to know how to buy crypto with cash or other ways. Below are some of the ways you can use to buy crypto with cash:

Using crypto exchanges 

You can buy crypto with cash through a crypto exchange. Some exchanges, like NakitCoins, have physical offices where you can walk in and buy digital currencies with fiat currencies such as the US dollar. Traders can buy crypto fast, conveniently, and privately with cash in one of the NakitCoins offices in Turkey. They may also exchange their coins for other digital currencies with no limits. The beauty of using exchanges is that they are safe and secure. They also allow traders to buy or sell huge amounts of digital coins.  

Using peer-to-peer exchanges

Peer-to-peer platforms such as LocalBitcoins are decentralized marketplaces that make it possible to buy and sell bitcoins and other cryptocurrencies directly between individual traders. They link buyers and sellers so they can trade directly. Unlike the centralized exchanges, the P2P platforms have no agents who control funds as trading happens.

As a way of buying crypto with cash, you can take cash with you as you buy or deposit it into the seller’s bank account. After providing them with proof of payment, they will transfer the bitcoin to your wallet.  One of the advantages of using a P2P platform to buy crypto with cash is that they do not make it mandatory to provide personal details and to do confirmation of the same. Also, the buyer and the seller can agree on the price and the convenient option to pay for the bitcoin. 

On the other hand, P2P platforms may expose one to risks, such as losing your cash to fraud, so traders have to be careful and not meet strangers in risky places. It is also advisable to buy from traders with positive feedback and past trading history. 

Using Bitcoin ATMs

Bitcoin ATMs are automated machines that accept cash and transfer the Bitcoin to the buyer’s crypto wallet (address). To use the ATMs to acquire BTC, you need to locate the nearest one to you and visit it.  You can use an online tool or map to find a Bitcoin ATM in your area but there are still many areas without them. 

While Bitcoin ATMs allow people to buy BTC 24/7, their charges are a bit high as they range between 5% and 10%. However, some people are willing to pay the fees for the convenience of using them and the ability to buy bitcoins with cash anonymously without identity verification.

Wrapping up

There are several ways you can use to buy crypto with cash. You can use a P2P platform, crypto exchanges, or crypto ATM. Also, you can buy from people in your surroundings. When meeting a seller to buy with cash in person, take proper precautions to ensure you are safe, for example, meet in safe public places and take someone with you.

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Suppose you’ve been day-trading Bitcoin or other cryptocurrencies on popular exchanges for an extended period with no success. In that case, you might want to take a step back and approach trading differently. Trading cryptocurrencies can be more beneficial if you learn how to trade the market from the perspective of a crypto investor. In other words, you’ll have to consider how specific fundamental and technical metrics will affect the future price of Bitcoin instead of just getting rattled by temporary price swings that are common in crypto trading.

Here are a few tips that will help you become a successful crypto trader:

1. Do Your Research

One of the most important things you need to do before investing in any cryptocurrency is to conduct your research. This involves reading about the coin, its technology, its development team, and analyzing its market performance. It would help if you also took some time to understand the different types of trading strategies that you can use to profit from the market movements.

Some pro traders give predictions about where they think the market is headed. Also, according to HedgewithCrypto, the price of Bitcoin will hit $1.93 trillion by the end of 2022. While this might be a good target to aim for, you should always do your research before making any investment decisions.

2. Create a Trading Plan

Another important thing you need to do is create a trading plan and stick to it. This trading plan will act as your blueprint and help you make better investment decisions. It should include the amount of money you’re willing to invest, the coins you want to trade, the timeframe you want to trade, and your exit strategy.

It’s also vital that you set realistic goals. For instance, don’t expect to become a millionaire overnight by trading cryptocurrencies. If you’re patient and disciplined enough, then you can certainly make a lot of money by trading cryptocurrencies in the long run.

3. Use STOP-LOSS Orders

One of the most common mistakes traders make is not using stop-loss orders. A stop-loss order you place with a cryptocurrency exchange to sell your coins when they reach a specific price. This price is usually lower than when you bought the coins.

For example, let’s say you bought Bitcoin at $10,000, and you’re confident that it will go up to $15,000 in the next few weeks. However, you don’t want to risk it going down to $9,000. In this case, you can place a stop-loss order at $9,000. This way, if the price of Bitcoin falls to $9,000, your coins will be sold automatically, and you’ll limit your losses.

4. Use a Reliable Cryptocurrency Exchange

Another vital thing to keep in mind is to use a reliable and trustworthy cryptocurrency exchange. Many exchanges have been hacked in the past and have lost millions of dollars worth of cryptocurrencies. So, you must choose an exchange with a good reputation known for its security measures. Some of the most popular and reliable exchanges include Coinbase, Binance, and Kraken.

Using reliable and reputed exchanges is also important for another reason. These exchanges usually have better liquidity so that you can buy and sell cryptocurrencies at a fair price without any slippage. Financial authorities also regulate them, which adds an extra layer of security. The good thing is that there are many such exchanges available today.

5. Use Technical Analysis

It would help if you also used technical analysis when trading cryptocurrencies. Technical analysis is a method of predicting future price movements by analyzing past price data. There are many different technical indicators that you can use to trade the market. Popular indicators include moving averages, Bollinger Bands, and Relative Strength Index (RSI).

If you use these indicators correctly, you can make a lot of money by trading cryptocurrencies. However, it’s important to note that you should never rely on just one indicator. Instead, it would help if you used a combination of different indicators to get a better picture of the market.

6. Have a Long-Term Outlook

When we talk about the long-term, we’re talking about a timeframe of at least six months to 1 year. Many traders mistake thinking that they can make quick profits by trading cryptocurrencies. However, this is not the case. Cryptocurrencies are very volatile, and their prices can go up or down very quickly. So, if you’re looking to make quick profits, you’re likely to be disappointed.

However, if you have a long-term outlook, then you can certainly make a lot of money by holding onto your coins for the long term. It would help if you were patient and disciplined enough to do so.

7. Diversify Your Portfolio

Diversifying your portfolio means investing in different cryptocurrencies. This is important because it will help you mitigate your risk. For example, let’s say you have all your money invested in Bitcoin. If the price of Bitcoin falls, then you will lose all your money. However, if you have a diversified portfolio, you will only lose a part of your investment.

Some of the most popular cryptocurrencies you can invest in include Bitcoin, Ethereum, Litecoin, and Ripple. These are all top coins with a lot of potentials. You can also invest in smaller coins with high potential.

8. Stay Up-to-Date with the Latest News

Another vital thing is to stay up-to-date with the latest news and developments in the cryptocurrency space. This is important because the prices of cryptocurrencies are often influenced by what’s going on in the news. For example, if there’s a new regulation to be implemented, the prices of cryptocurrencies will likely go down. However, if there’s positive news, such as a new partnership or a new product launch, prices will increase.

So, make sure you’re subscribed to some good crypto news sources such as CoinDesk, Bitcoin Magazine, and CryptoSlate. This is because the prices of cryptocurrencies can be affected by news events. For example, if there’s a new regulation Announcement, then the costs of cryptocurrencies will likely go down.


Cryptocurrencies are becoming increasingly popular, and there’s a lot of money to be made by trading them. However, it’s important to remember that cryptocurrencies are volatile, and their prices can go up or down very quickly. So, if you’re looking to make quick profits, you’re likely to be disappointed. However, if you have a long-term outlook, then you can certainly make a lot of money by holding onto your coins for the long term. It would help if you were patient and disciplined enough to do so.

Allen Brown

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