Do you want to be able to buy and sell Bitcoin locally in cash? This is exactly how you can do it on Wall of Coins. I’ve completed more than $25,000 of transactions on Wall of Coins myself so I love this website and I’m telling you about it because I want you to know it’s out there in case you want to use it yourself.
Wall of Coins is a cash, Bitcoin buying and selling. If you want it to be anonymous, you can use the Buy Bitcoin feature without signing in, without creating an account. All you have to do is provide a Bitcoin address and make a deposit at a bank account.
If you want to sell Bitcoin, like I do on Wall of Coins, you sign in, and then it looks like this where it has authorize.
I’ll show you how to create a selling account, which is really simple. I’ll show you how to create a buy, which is also really simple on Wall of Coins.
First, if you click the buy button up here and you’re signed in like I am this is the landing page you get.
You can see, I’ve already bought a $1097 of Bitcoin in cash and got it successfully transferred to my Bitcoin address using Wall of Coins. This is a really cool website, if you’re speculating on Bitcoin too because this is a peer to peer marketplace and it’s fast.
If the price rapidly goes up or down there are great opportunities on Wall of Coins to get a sweet deal like I did here. The price had spiked that day and I grabbed three Bitcoin from a seller that had not updated the price to the point where I bought this Bitcoin for $2o or more below the current market price. That’s why I love Wall of Coins – that instant cash transaction from person to person makes for a really cool system.
When I say instant, I mean it’s fast. If you use something like CoinBase, you have to put a wire transfer in and wait and even if their instant is set up it still maxes out at a thousand dollars for a whole week. If you want to buy a lot of Bitcoin you have to wait usually at least a week to get it, but on Wall of Coins when you go in here to buy:
This is the buy screen whether you’re signed in here or not. If you click on this last screen and you’re signed in, you see Buy more Bitcoin or if you’re not signed in this comes up.
Wall of Coins it works with cash deposits. Usually the transactions take anywhere from 2- 6 hours and that’s for the time you actually take from the moment you order to the moment you have the Bitcoin in your Bitcoin address. So to me that’s really fast especially if you can do it with thousands of dollars at once and it just takes a cash deposit.
Here’s the Bitcoin address, you don’t even have to supply a Bitcoin address, you can supply an address after your transaction is complete if you prefer. I hit next once I’m on this screen and then all I have to do to buy more is enter an amount in here
I’m already signed in so Wall of Coins knows where I’m at because I gave Google Chrome permission to figure out my location, but you can just enter your zip code in and tell Wall of Coins your location.
Currently, this only works in the USA, but it will be coming out to a bunch more countries as the Wall of Coins continues to develop it. If you’re in the USA, this is a really smooth way to buy Bitcoin locally.
Here’s what happens:
I hit $1000 in here or you can put as little as $5 in. I wouldn’t put more than $10,000 in because then you have to fill out the IRS forms for the deposit. Once you hit next here, then you see your actual options to buy Bitcoin. For 1,000, this is the current market rate. You can get 2.5 Bitcoin for 1,000 cash deposit.
This is a regions account so you have the option to deposit with Regions and you also have options here tied with the same seller account. You can see this same seller also offers Wells Fargo and PNC deposit in addition to Bank of America.
I’ll show you my seller account after we complete the buy process and you can see that your local bank is likely to have representation on Wall of Coins at some point, especially if you ask the Wall of Coins team to have someone open a bank account that can accept deposits for the bank of your choice.
I know when I went to buy off of Wall of Coins from Bank of America, I knew the bank was a big choice because I know exactly what Bank of America, a Regions, a Wells Fargo and a PNC are near me, but if I didn’t’ know where the bank was and if I had to drive a long way to buy it, that would totally ruin it. Wall of Coins supports a lot of banks. Chase is the largest bank and my main Bitcoin account as you’ll see is with Chase.
This gives you a list of local banks you can drive to close to you and make a deposit in cash and then all that has to happen is you confirm you made the deposit, the seller checks for your deposit as a buyer of the amount you said you ordered and then deposited in their account.
Then the seller confirms from the buyer deposit and then the buyer gets the Bitcoin. Sometimes this can be completed in just a few minutes if the seller makes the deposit quickly and the buyer happens to be available to check that right away.
It’s awesome. I just love Wall of Coins and I’ll show you how much I love it shortly with my seller account. You can see there’s awesome options to make a deposit, you just click order, you get the instructions to go make the deposit.
You can buy as little as $5 at a time. If you just want to give this a try, it’s easy to make a $5 deposit and just verify that yes, the deposit was received, see how long it takes, and then verify that yes, you actually got this Bitcoin to your wallet.
If you want to sell, and, to me, the biggest opportunities on Wall of Coins are for sellers because there’s a lot of cool things that happen on a peer to peer marketplace with Bitcoin selling whenever the price goes way up or way down.
If you want to sell, you click on sell and this is where you will have to sign up if you want to participate, but it’s nice because once you sign up all of your Bitcoin buys are tracked also. When you sign up as a seller you put your phone email, confirm email, and put a password in and then you click continue and then you get an interface like I have except before you had an account there will just be an ad selling account here. For me you can see I’ve added four different bank accounts that I accept Bitcoin deposits to.
The bulk of my deposits I’ve had came through Chase because I’ve had that account there the longest and Chase is the largest bank in the USA so it has branches everywhere. I just put my regions account up and I already got a $600 deposit in my regions account.
I’ll show you when I click inside of the square here, this is the inside of my Chase selling account:
If you’re feeling generous you’re welcome to sell my some Bitcoin to this address if you want me to sell it for you.
You can see the selling interface is straightforward, it just gives you what you need and nothing else. Down here where you chance the price. Where you chance the price is where you can have some fun because what I do is put my price a little bit above the market rate. That way if I sell, I can re-buy right away and put it right back up and have the same amount of Bitcoin and make a little bit of a profit.
The money may not be gigantic, but I’m holding on to the Bitcoin. I have it anyway. I want to have it, it’s nice to turn it over and make a profit on it. The big opportunities are if you want to speculate on it, you can set your price higher, much higher than market value and then just forget about it.
If I wanted to do that I could set my price at 4.25 or 4.50 right now which a few of the sellers are doing and then I could just forget about it, I don’t have to come back to Wall of Coins to check it. Then, when the price spikes, when the price has a day when it goes up a lot or the price suddenly goes up and I’m not paying attention to it, I’ll get a text message on my phone saying that I sold bit coin and need to check that deposit.
If you want to speculate and you think the price is going to go up, Wall of Coins is a really easy way to just put it there and then you get cash deposits as soon as your Bitcoin gets bought. There’s lots of buyers that are hanging around just waiting around for a good deal. If the price spikes suddenly and especially if it spikes to the point where your Bitcoin is worth a little bit more than the actual market price.
In other words, say your rate’s 389 mine is one here and the actual market price goes up to 400, my Bitcoin will get bought out at 389 fast on here then when the price drops, I already got the cash in my bank account, I can go re-buy Bitcoin at a lower price that’s where I’ve had the best experience on Wall of Coins. I got lucky the last time it went up, I had my price at 429 on around 10 or 15 Bitcoin and I bought it around 329, I set the price high and the price went so high someone bought all of my Bitcoin at 429. Then, I went and re-bought it for a good bit lower so I have the same amount of Bitcoin and I made a little profit on it. Wall of Coins is really cool like that.
If you want to change the rate all you have to do is hit edit. You can put in a new rate and it instantly updates and it tells you here how much your Bitcoin is worth. I sold a lot of my Bitcoin last week so I’m still waiting on my wire transfers to come in and replace it on here.
This makes it more challenging when you have multiple accounts, but the advantage of multiple accounts is that I can stagger my price too. Theoretically you could short Bitcoin and sell it long at the same time. You could set one account to a really low rate and you could set another account to a really high rate or you could stagger it. If you just want a turnover, which I often do, I would put one account like $10 lower just to see if anyone’s going to buy it.
then I’ll put the bulk of my Bitcoin at a higher price in case it goes up. That way I have constant volume. I can consistently keep buying on a regular basis and make a little bit. Then whenever the price spikes then I can sell it and if the price drops then I can load up on Bitcoin and transfer it into cash right here fast on Wall of Coins.
You can see I’m really excited about Wall of Coins from all the things I shared with you. You can see that from all the Bitcoin I sold on here: $25,000. Now I didn’t buy my Bitcoin $25,000 at a time, I bought it a lot at a time in little amounts.
I’ll buy 1-4 Bitcoin a day and then sell it on Wall of Coins. I think Wall of Coins is really exciting because of these things that I’ve talked about with you. The ability to transfer Bitcoin into cash within one day is really sweet. If you have a lot of cash on hand and you’d rather have it into an electronic currency like Bitcoin or something that you can move around more easily, Wall of Coins is awesome for that.
I like to think of someone that’s gambling in Vegas that wants to use the cash they just made to build some assets online. They have Bitcoin ATMs in Vegas, Wall of Coins is a perfect way. You just deposit it into a local bank account and then you’ve got the Bitcoin available whether you want to withdraw it out of that ATM or whether you want to just have it there and put it in savings or cash it out into your bank account at some point later and see if it will go up in the meantime.
This is Wall of Coins, this is what it does. I’m a big enthusiast on Wall of Coins and I appreciate the time you’ve spent learning about Wall of Coins and I hope this video is both informative and inspiring.