So I would like to buy some bitcoin for cash but I have no clue how to go about doing this.
I am on Philadelphia and I tried to see if this was possible with localbitcoin or bit square, but anything there seems to be via some obscure payment method.
I would like to take a $20 bill and turn it into bitcoins via an in person transfer. Is this something that can be done?
Maybe bitcoin ATMs are an option but as far as I know they are quite expensive.
What is the best way to turn cash into bitcoins?
EDIT: when I say CASH i mean a physical dollar bill, nothing in a bank account or in digital.
localbitcoins.com you can meet up with a person or deposit it in their bank account.
When you do this, make sure it's a national bank transfer and not anything like Paypal, as the transaction can be reversed on you if you're not careful and Paypal will always side with the buyer in this case so you can easily lose your Bitcoin.
Good point. I always just meet someone in person. A little pricey but you always meet someone interesting!
How do I deposit cash into a bank account?
go to the website and find someone selling through bank deposits near you. message the person then go to that bank and deposit. Check out the site its easy to figure out.
Shows two atms about equal distance from old town.
One north and one south.https://coinatmradar.com/
Like @dajohn1420 said localbitcoins.com is the only in person way I know. Otherwise you can use Bitfinex, BitStamp and in a few days with an electronic funds transfer send money to your account there then change the to Bitcoin. You might try coinbase I think they use debit or CC not positive since I never tried.
I always buy via coinbase. I use the wallet and GDAX.
However I wanted to know how a cash transfer would work.
As you say, keep looking on B to C offer website that look decent, or maybe look in blockhain/bitcoin forums and club in your country
All the best. Cheers.Try Bitshares.....or ask @blocktrades.
Sorry...bleujay thought you were asking the other way round. Try Coinbase.
The last time I bought Bitcoin I spent $20CAD and received about $18 something. But the price has risen since then and its now worth more than $20CAD so there ya go.