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I'm an 18-year-old guy who wants to get some bitcoins but I don't have a Bank account yet.

I've been looking at some websites, such as bitstamp.net or blockchain.info but they seem like they are having problems (each one with its own problems).

What would be a fast way of converting cash into Bitcoins or cash into PayPal into bitcoins? (I don't know wich method can be used to get bitcoins, I'm really new to this.)

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5 Answers 5

Read up about chargeback, this is unfortunately a huge problem when you exchange from bitcoins to 'PayPal dollars' and other online currency.

However, you can buy bitcoins with cash: https://localbitcoins.com/

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I enter localbitcoins.com and i saw that there is only one person who i can go to, the other ones are way too far. The problem is that he only accepts paypal, transference, skrill, accounts on EU and USA. That leads us to another problem: How can i convert cash to paypal money without having a bank account? –  Garmen1778 Mar 12 '13 at 0:23
    
You need to find a payment method which supports account topping up with coupons. You buy these coupons in a grocierie store with cash, then you go online, enter the code from the coupon and the money is credited on your online account. MoneyPak and UCash are the most popular I think, but you need to find something which works in your country. –  Mikko Ohtamaa Apr 21 at 18:40
    
Also, to clarify this answer chargeback is not a problem when buying Bitcoins, only when selling them in-person. –  Mikko Ohtamaa Apr 21 at 18:40

There are cash deposit methods for those in the U.S., Canada, Australia, New Zealand, India, Russia, Brazil, Singapore, Malaysia, Nepal, Bangladesh, and Philippines. So you may have that option.

You can even send cash in the mail. BitcoinNordic in Denmark accepts cash (USD, EUR, GPB, and more) in the mail, as do a handful of others.

Meeting up with someone and doing an in-person cash trade might work as well:

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You can set up an account at http://www.bitfloor.com.

They have an option there to fund your account directly, with CASH deposited IN PERSON at any Bank of America branch in the United States.

Once deposited, funds are typically available within 30 to 60 minutes.

I've used their cash-dep service twice and found it reliable. Follow the clear, simple instructions you receive carefully. (Get the amount / account numbers right!)

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Unfortunately Paypal won't allow direct payment for cryptocurrency. If you have no other way of making an online transaction but you have the money, then the safest way is probably to meet someone in person. I would recommend you try local bitcoins, and contact someone in your area. I have met with a handful of traders in my area through this site.

There are some other methods of earning bitcoins that were not mentioned. You can trade for bitcoins. Just join one of the many bitcoin forums and post an ad up that states which area you are from.

There is also http://www.bitcointrades.com which is quite new, It works like ebay. I put a free ad on there last week and made 2 bitcoins just from an iPhone sale.

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Going through a mining leasing service is now the best option to obtain Bitcoin without a bank account. Some services claim to pay out more than 200%, but if they did that then why would they be leasing the power to you instead of pocketing the currency themselves?? The honest services aim for anywhere from 70% to 150% your invested amount, paid out after it's been converted to Bitcoin and transferred to your wallet.

These services are a huge bonus for anyone that doesn't want to deal with an Exchange or the privacy issues there - They get hacked quite often. It's also a way for people to obtain Bitcoin or any crypto-currency that don't have access to an Exchange for any reason.

You can pay with Paypal through most sites, although you'll probably want to do business with one that accepts credit cards as well. The leased mining services that accept CC payments are heavily regulated and are very likely to be legit, especially if they are located in the United States. The scrypt mining services, ones mining Litecoin, Dogecoin, etc. are the most profitable - They usually can pay you out in any cyrpto-currency coin, including Bitcoin.

I hope that helps!

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