How To Buy Ethereum With Cash? And How To Buy It With The Help Of An ATM?

 This section explains how to invest in ETH with cash. Continue reading for full understanding.  For various reasons, buying Ether directly from another party may be preferable. However, the regulations regarding these transactions of how to buy Ethereum may vary depending on the geographical area. 

Peer To Peer (P2P) online exchange usually always involves KYC and AML processes. 

P2P exchanges aim to facilitate over-the-counter (OTC) trading of local currencies for crypto assets such as BTC or ETH. Based on the structure of the Ethereum blockchain, OTC ETH trading  benefits from Ethereum smart contracts to facilitate the process.

P2P crypto services essentially act as marketplaces that allow users to pay local currencies to individual entities in exchange for various amounts of crypto assets such as Ether. These P2P platforms or services often use the escrow function. Transfer methods can include bank transfers, payment platforms, etc.

Meeting  someone in person, in a public place, can also be an option to buy Ether in person. However, such transactions carry risks,  so take all necessary precautions, such as when conducting a traditional financial transaction with a stranger. You will also need active internet access for trading.

Peer To Peer ETH transactions can be more private than using centralized exchanges. This method of trading, however, can require a certain level of trust between the two involved parties, especially if meeting in person. On top of that, if you decide to engage in P2P trades, it is your responsibility to ensure that you are complying with your local regulations. 

Buying ETH with Ethereum ATM

An alternative way of purchasing Ether is doing so through an Ethereum ATM, which typically will require providing certain personal details.

Using a cryptocurrency ATM also requires an Ethereum wallet — a place for the machine to transfer your purchased ETH. Ethereum wallets will be covered later in this guide.  Once you have a wallet, you will need to find your nearest ATM to support Ether transactions. A Google search is enough to find a friendly Ether ATM.

After locating the nearest ATM, find the QR code in your wallet and put the code on the machine's camera to scan. Next, put your money in the ATM and confirm the amount of Ether to complete your purchase. The Ether you purchased will be sent to the address provided. The process is similar to using a Bitcoin ATM. You can also use this process to buy bitcoin in Canada.

How to buy Ethereum with a credit card?

Buying ETH with a credit card works like any other online purchase:

To get started, visit the Ethereum credit card broker's website or app and create an account. Some will ask you to link a bank account or establish your identity by submitting a photo of your identification at this stage.

Platforms will either ask you to fund your account or allow you to make purchases once you sign up and get approved. If you need to fund your account, you can do so with your credit card. Simply select "buy" to complete the order form for an ETH transaction if you can buy directly from a credit card without needing to fund your account. The security symbol ETH can be used to search for Ethereum.

Indicate the amount of Ether you want to buy. Some brokers ask you to enter an amount of Ethereum and then display the price in fiat currency. Others let you enter a dollar amount and see how much ETH you’ll get in return. 

Following your purchase, the cryptocurrency platform like Netcoins will ask you to choose a payment method from a list of possibilities. Some have a different choice for credit cards, while others include a “credit or debit” option.

The balance of ETH should be reflected in your account when you enter your credit card information and complete the purchase. You own Ethereum at this point, and the platform is holding it for you. 

It’s worth mentioning that not all credit card issuers allow you to buy cryptocurrency using your card, and some regard cryptocurrency purchases with a credit card as a high risk activity that could result in your credit limit being reduced.