How to Buy Bitcoin When You Don’t Have a Bank Account

  • Updated on January 11, 2023
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When you want to stay without a bank account but also want to buy in on some cryptocurrency, it can be a bit complicated. Though, these days it is getting easier to do so. It may be a little more complex than setting up an email without a phone number but can still be done without any problems. 

The fact that cryptocurrency by its very nature is decentralized and the entire premise is based around not needing banks or other financial institutions makes it accessible to people that don’t want to use a bank. with this

If you don’t have a bank account and still want to get in on the crypto craze then you need to know your options. You can also buy XRP or invest in cryptocurrency generally. In this article, I will go over what you need to know to get cryptocurrency without ever needing a bank involved. 

Credit Card

One of the easiest and fastest ways to buy bitcoin is with your credit card. You can buy BTC with credit cards and have it in your digital wallet within minutes. There are also a lot of choices when it comes to where and how you can use your credit card so it makes it an even more ideal solution.

Most people have a Paypal account so you can use your credit card there since you can now use it to buy cryptocurrency. This also is very fast since your card is likely already in the Paypal system. If not then making an account only takes a few minutes.

Otherwise, you go to your favorite bitcoin exchange and buy the coins there. If you don’t have an account already then you sign up and enter your credit card details. 

The reason that credit cards work so well is that you can be verified easily since you have an account already.

Peer to Peer

The way peer-to-peer sales work is that you sign up on a platform to match with others that are looking to sell their bitcoin. You can then come together and arrange payment between yourselves. You can pay with pretty much anything that the other person will accept. It doesn’t even have to be cash. If you want to barter some other item then that is perfectly fine as long as both parties agree to it.

There is no bank involved in the process if you don’t want there to be. In fact, you don’t even need to do this on a platform. You can know somebody in person that is looking to sell their bitcoin and go that route. There are sites online where you can find people in your area that are looking to sell bitcoin.

Use Cash

There are even platforms that allow you to make a cash deposit locally so you can pay cash. In this case, you enter your zip code and how much you want to buy into the form on the site. Then they send a text you have a fixed amount of time to make your deposit into their bank account. 

This may involve more steps but you have no bank involved on your part.


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