Why Buy Bitcoin?

You have many reasons to buy bitcoin. Although most people buy bitcoin merely for the hype, bitcoins are also an excellent way to invest and provide an efficient means to shop online, among other benefits. Let’s look at the three main benefits.

It’s a way to invest

As volatile as bitcoin is, it’s still an excellent investment. Take an example of investors who purchased bitcoins in 2015 or earlier when each coin cost under $400. The investment is now worth 150x or more.

As long as you’re strategic enough, you can profit massively from buying and holding the coins – if you resist the urge to sell your coins whenever the price dips.

Use bitcoin to shop online

As the e-commerce revolution enters the homestretch, bitcoin offers an efficient and reliable way to shop online. You can now pay for items at major e-commerce stores from your bitcoin wallet without the need for credit cards and bank accounts.

Granted, some stores are still hesitant about crypto in general. However, the initial fears and worries are slowly fading as more established enterprises and even entire nations adopt bitcoin.

Advantages of Buying Bitcoin with Cash

Buying bitcoin with cash comes with many advantages. As we’ve seen, it allows you to shop online conveniently. Additionally, buying bitcoin with cash enables you to trade on popular exchanges without discrimination. So, why exactly should you buy in cash?

Privacy

Privacy has become a hot topic recently because of the ever-increasing cyberattacks. Cybercriminals are everywhere trying to steal or snoop on your data, which they can use to break into your bank and social accounts to execute ransomware and other attacks.

Buying bitcoin with cash allows you to transact privately. No one can trace your moves or access your personal information.

Availability

Another reason you should consider buying bitcoin in cash is availability. You can now buy and spend bitcoins pretty much everywhere. The number of people selling bitcoins has increased significantly in the last year, similar to the proportion of e-commerce merchants who accept crypto.

Thus, you can purchase bitcoin with cash any time you want and start to spend it the next minute. The previous bottlenecks are gone.

Speed

Finally, buying bitcoin with cash is a swift process. This also represents a massive improvement from the past when you needed “connections” to get bitcoins quickly. Sometimes you had to wait 24 hours or longer to get bitcoins in your wallet.

Not anymore. Now you can have your bitcoins in your wallet within minutes of the exchange. In fact, some people will credit you instantly.

Potential Challenges

Unfortunately, despite the many advantages, buying bitcoin with cash poses a few challenges and risks that you must keep in mind at all times.

Safety/security

The bitcoin exchange space is still largely unregulated. For this reason, some unscrupulous dealers are taking advantage of honest consumers. They create websites and set up shops, pretending to offer exchange services, then disappear as soon as you send your money for exchange.

You must be extremely careful to avoid these traps. Make sure to only trade with reliable, trustworthy dealers.

Price volatility

Bitcoin prices are perhaps the most volatile commodity prices today. The prices go up and down in swings and within very short periods. One moment the commodity may be trading at $50,000, and the next day it’s at $40,000.

The fluctuation affects exchange rates, too, meaning you’re never entirely sure of your investment’s worth. So timing is crucial.

How to Buy Bitcoin with Cash?

Hopefully, the challenges don’t put you off, though. In any case, every investment has a few risks. All you have to do is stay watchful and time your transactions for maximum value.

The following is a step-by-step guide to buy bitcoin with cash once you’re prepared to take the next step;

1. Setup a Bitcoin wallet on your phone to receive the Bitcoins: Before you even think about buying bitcoins, you need storage to hold the money, a wallet in this case. Fortunately, thousands of financial institutions offer bitcoin wallets. Here’s how to create a bitcoin wallet. 
2. Identify a trustworthy seller that accepts cash payments: This is arguably the most important step. Go online and search thoroughly to shortlist the best “exchanges” in your area. Then screen the candidates to determine the best of them.
3. Decide how many Bitcoins you want to buy: This will depend on many factors, such as how you intend to use your bitcoins and when you plan to buy again. The most important thing is to make sure you have enough money left (in your local currency) to continue your life comfortably and to have enough reserves for maybe further Bitcoin purchases at lower prices.
4. Agree on an exchange rate with the seller: Exchange rates vary from one seller to the next. However, the most significant factor is the market-wide bitcoin exchange rate against the dollar. A quick Google search will help you determine the current market rates. Use this rate to determine the best seller rate. 
5. Pay the amount in cash: Once you’ve agreed on an exchange rate, you can now pay the seller in cash.
6. Receive Bitcoins in your Bitcoin wallet: Two things are important here, i.e., the time to complete the transaction and how much you eventually receive in your bitcoin wallet. As we mentioned earlier, the best sellers can have the money in your wallet within minutes or sooner. Meanwhile, the received amount will depend on the agreed exchange rate.

Best Solution - Use this to Avoid Being Scammed!

Sarafex has developed an efficient and trustworthy platform that makes it easy to buy bitcoins for cash. It’s the way to go if you want to avoid scammers and low exchange rates.

What is Sarafex?

Sarafex is a Dubai, UAE-based fintech firm built to transform the payment and banking sector for businesses across the United Arab Emirates. Our mission is to help small, medium-scale and major businesses accelerate growth by adopting fast, reliable, and secure payment solutions that transcend traditional boundaries.

Why Buy Bitcoin with Sarafex?

Sarafex stands out for many reasons. For one, we’re the most transparent payment platform in the region. You don’t have to worry about hidden costs and unexplained charges when you transact with us. Additionally, Sarafex is;

●     Trustworthy

●     Reliable

●     Innovative

How to Use Sarafex to Buy Bitcoin with Cash?

Ready to convert your cash into bitcoins, perhaps to hold for future profits or go on a shopping spree at the top online stores? Here’s how to proceed;

1. Choose your exchange method: Do you want to buy or sell crypto? Select buy because you’re buying bitcoins.
2. Choose the currency: We sell many cryptos, including Litecoins, Ethereum, Tether, and Bitcoin. To purchase bitcoin, select BTC.
3. Choose an amount: How many UAE Dirhams (AED) do you want to sell? Our on-page calculator converts the amount instantly to tell you how many bitcoins you’d get for the given AED value.
4. Give us your contact details: You only need to provide your full name and phone number. Once you send the details, you’ll get a one-time authentication code. Enter the code when prompted.
5. Check the terms and conditions: Read the terms and conditions carefully and check the square box if you agree with the terms.

From there, we’ll contact you to complete the transactions. You should receive your bitcoins within one business day after receiving your cash. You can either deliver the cash to our office or, at a specific minimum amount, let our reliable employees pick it up from your location.

Other Ways to Buy Bitcoins with Cash

Besides cash transfer via mobile or bank, you can also buy bitcoins with cash through the following three options.

1. Buy directly on an exchange with a credit/debit card (links to most known exchanges like Binance, Coinbase): This is another very reliable way to buy bitcoins with cash.
2. Find a local Bitcoin seller (P2P): Do you know a local dealer who sells bitcoins? If so, they can send you bitcoins to your wallet in exchange for hard cash.
3. Buy Bitcoin with cash by mail (not recommended): This process involves sending money (in your local currency) to the seller via mail. Upon receiving the money, the seller transfers an equivalent bitcoin amount into your wallet.

Conclusion

Now you know how to buy bitcoins with cash in Dubai, UAE. It’s a simple, straightforward process that rarely takes more than half an hour. Contact us for any inquiries.