Several years ago, I was planning on doing some cryptocurrency mining and I needed to convert a larger amount of cash into bitcoin. I was looking for a more cost effective way to convert cash into bitcoin (than the bitcoin ATM).
Through some online research, I stumbled across a service called: https://www.bitquick.co/ If you would like to try out this service, please use my affiliate link and through no extra cost to you, you can help support this website.
So, here’s how BitQuick works. It’s very scary!!! Well, it was for me the first time I used it. I tried it out despite my fear because the fees were only an additional 2% service fee and a 0.001 BTC mining fee. If you plan to convert more than $400 then you’ll need to confirm your identity using a passport or drivers licence. (KYC process).
You can use the “Launch Quick Buy” button to make it simple, or you can buy from a specific person in their Order Book. Once you have decided how much cash you want to trade for bitcoin, then you take CASH to their bank and within 3 hours of submitting a copy of your deposit slip, the bitcoin will be added to your digital wallet. It sounds scary and a high element of trust is needed, but it actually works.
My first transaction was on a Saturday morning and took exactly 2 hours and 52 minutes to be credited to my wallet. I was sweating bullets the whole time, but I now have full confidence in BitQuick and this was the main way I convert cash to bitcoin and added it to my wallet before the Cash App came along.
Here’s a video on how this works.
So, once again, a bank transfer will take up to 7 business days, BitQuick will take 3 hours, a bitcoin ATM will take minutes and the CashApp will take seconds. You need to decide how much you are willing to pay for the speed of converting your cash to cryptocurrency.
Best of luck to you!