Categories: EducationTutorials

How to get Bitcoins fast in under an hour

How to get bitcoins

If you recently heard about Bitcoin and would like to start using it today, you have come to the right place! This guide will show you how to get bitcoins in under an hour.

First, sign up at LocalBitcoins which is a website similar to craigslist that allows users to post buy and sell offers for bitcoins. Unlike Craigslist, Localbitcoins also acts as an escrow for transactions, hence reducing the risk of fraud.

Next, navigate to this link which will show all the sellers who are currently accepting cash deposits as a form of payment. If you look at the price / btc you will see that the listings charge only about 3%-4% markup on the price of btc. That is one of the lowest rates you can get on localbitcoins, as other online payments like paypal to bitcoin  have atleast a 10% markup. The reason cash deposits are so cheap is because the buyer can almost never reverse them, that reduces the risk of fraud to the seller thus they are able to offer such low prices; meaning that you can get bitcoins cheaply and almost instantly once you make the deposit.

Next, choose a seller who has high feedback and who was recently active. You can check a user’s last activity by hovering over the circle next to their name.

Related Post

Navigate to their profile and verify that the seller has good feedback, has been recently active, and has little to no Blocks (people who blocked the seller).

Next, go to the ad page and put in the amount of bitcoins you would like to buy, keep in mind sellers usually have trade limits which are specified on the listing. Once you choose the amount click the send trade request and wait for the seller to respond. For most cash deposits you will have to take a clear picture of the receipt which should have the bank logo, last 4 of account number, deposit amount and date. Once you send the picture of the receipt to the seller and he confirms it, he will release the escrow which will add coins to your localbitcoins.com wallet.

NOTE: When doing cash deposits make sure to go through the escrow system that localbitcoins.com offers. By circumventing escrow you will have a much greater chance of getting scammed and loosing money.

If you liked this article follow us on twitter @themerklenews and make sure to subscribe to our newsletter to receive the latest bitcoin and altcoin price analysis and the latest cryptocurrency news.

 

Mark Arguinbaev

I'm a 28 year old cryptocurrency entrepreneur. I was introduced to Bitcoin in 2013 and have been involved with it ever since. Fun Fact: I mined cryptocurrency using my college dorm room's free electricity.

Share
Published by
Mark Arguinbaev
Tags: Buy BitcoinS

Recent Posts

Shiba Inu Price Up 5%, Gemini Adds SHIB to Its Platform

Shiba Inu price is up 5% today, peaking at $0.00005592 with a low of $0.00005235.…

19 mins ago

5 Metaverse Coins Valued Under $100 Million

With metaverse applications being the next big trend in crypto, there are still a lot…

3 hours ago

The Work From Home Revolution Has Arrived

With many employers and employees acknowledging the feasibility of remote work, the possibility of it…

10 hours ago

WAX Price Up 44%, Increased User Adoption Signals Growing Interest in the Platform

WAX price is up over 44% today, making it the biggest gainer on Crypto.com. With…

19 hours ago

5 Underrated Metaverse Coins With Great Long Term Potential

Metaverse coins are all the hype these days, with coins like Decentraland and Axie Infinity…

23 hours ago

Ankr Price Up 11% Amid Binance Listing and Polkadot Parachain Integration

Ankr price is up over 11% today, making it one of the biggest gainers on…

1 day ago

This website uses cookies.