We live in a Digital Era, where computers and other technology devices serve as a main way of communication. The information is transmitted in an instant and activities like money transfers are a lot quicker.
Let’s not forget about the blockchain technology that conquered lots of people around the world due to its decentralized network – promoting security and anonymity.
Yet, even crypto enthusiasts are concerned about their activities from time to time, especially when it comes to trading crypto to fiat. Some of their concerns are the following:
- What if a bug occurs while I make the transfer?
- What if the payment is turned down by the payment option provider?
- What if the provider will charge me?
- What if the user lies and refuses to pay me for crypto?
- What if I pay and I don’t receive my coins?
In that case, some crypto users resort to a more traditional yet safer method of payment: cash. That way, you don’t need to involve entities like SEPA Bank or PayPal. Though, it might cost you transportation and limit the trading activity to local users.
What are the advantages of paying with cash for crypto?
One of the best advantages of traditional payment is that you get to see the money and the crypto transfer yourself.
There’s also no link to bank accounts that could charge you for the amount transferred. People tend to be a little impulsive. If you paid the right amount for crypto, but the payment option provider took a percentage of it, there might be a chance that the receiver would blame you.
Isn’t that stressful?
Not to mention when the partner turns out to be a liar. Not all the crypto trading platforms have a good scam defense system. While some of them require video proof for example, others simply can’t help you with this situation.
The crypto transfer also depends on how good the wallet used is. Transferring cryptocurrencies can also turn into a burden if the partner doesn’t receive them in due time. Meeting the partner face to face would not make the crypto transfer quicker, but you will be there when he introduces data in the app.
What P2P crypto trading platforms accept cash payment?
There are actually not many Trading Platforms which give that option to users. To be honest, the only such platform we could find was Vertex Market.
Besides many other payment options available for almost 200 countries, Vertex provides its users with a feature that actually finds local partners. Then you are free to choose the Cash option and discuss with your partner the details on chat.
Whether you don’t trust banks, partners or technology itself, we recommend to try this traditional way of payment for a safer and stress-free encounter.