Keeping It Local: How to Buy Bitcoin Close to Home

By Aug 19, 2014 12:48 PM EST

NEW YORK (InsideBitcoins) — Buying and trading bitcoin can be as easy as hopping online, but some people like to conduct their financial transactions face-to-face.  There are several ways to do just that.

Bay Coins LLC has developed Bitcoin Bazaar Local, an app that helps you acquire bitcoin wherever you are. Available for Android and iOS devices, it allows users to find people who are selling bitcoin in their own neighborhoods. However, you don’t have to submit banking or financial information into the app. All you need is location-based services activated on your  smartphone to locate the nearest vendor.

[See also: What is Bitcoin?]

“Mobile is a natural fit for those who want to trade Bitcoins, and buying or selling with cash is still the easiest way to acquire the currency,” Shahani Weerawarana, CTO of Bay Coins, said in a release. “In the past, finding someone near you to transact with wasn’t easy with mobile devices. With Bitcoin Bazaar, anyone can buy or sell Bitcoin in person easily.”

As an added bonus, users can access their PayPal accounts for payments and bank transfers. All financial transactions occur between the two parties – the app does not intervene or store any information. Bitcoin Bazaar Local does not handle any fiat currency.

Other ways to buy bitcoin locally

The Bitcoin Bazaar Local app isn’t the only way you can “buy local” when it comes to bitcoin. Consider the website, localbitcoins.com, which is also dedicated to helping you find cryptocurrency vendors in your area. LocalBitcoins.com operates in 232 different countries, including the U.S. On the website, you can start trading and acquiring bitcoin as soon as you create an account. Like Bitcoin Bazaar Local, there is no corporate overhead – the transactions are between you and the vendor.

TradeBitcoin.com is another site that can help you find people nearby to trade and acquire the cryptocurrency. As soon as you access the homepage, you’ll view a map of your local area, as well as a textbox where you can input your address. Once you hit the “Go” button, you’ll find a selection of bitcoin vendors in your local area.

“Find a local Bitcoin user willing to trade with you,” Jonathan Jeffus, founder of TradeBitcoin.com says on the website. “Set up a time to meet in person for the trade and how much you’re willing to pay. You’d have to pay $15 minimum to send money to an unknown trader half-way across the world. Why not pay $15 for a secure trade locally? They’d show you they have the Bitcoins in stock right on their Bitcoin client. Physically hand them some cash and you’ll have your bitcoins in no time at all.”

Written by Krystle Vermes
Photo credit: rreihm via photopin cc

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