Fastest Way to Get Bitcoins


Posted by Bitcoin Basics
The fastest and easiest way to buy Bitcoins is by looking for sellers who accept cash deposit at Local Bitcoins.  Go to this site, create an account, log in, and go to the Buy Bitcoins online in the United States with Cash Deposit section (or to your relevant country's site), and find a seller who is asking for a cash deposit to a nearby bank.
 

Once you find a seller who has a price you like with a good trust rating at a nearby bank, and click on [Buy]. Then enter the dollar amount and click [Send Trade Request].  At this point, the bitcoins you are buying are deducted from the Seller's account on Local Bitcoins and placed into Escrow for 4 hours.

You will see information or receive an e-mail with the sellers' name and account number at that bank. Once you have this, go to the bank with your cash.  Get a deposit slip if needed and fill it out with the account number (some banks just have the teller take your account number verbally) and bring it to the teller.  Tell the teller you want to deposit cash into the seller's account.  Hold onto the receipt for the cash deposit from the teller as proof that you made the deposit in the unlikely case of any dispute. 
 

Go back to your computer / phone and mark the transaction on Local Bitcoins as [Deposit Completed].  This will automatically notify the seller that you've completed your deposit.  They will log onto their on-line banking website, and confirm that you made the deposit.  Because the trader may be accepting multiple trades at the same round dollar amount, it is a best practice to add a few cents to the deposit so that it is a unique dollar amount and less likely to be confused with other depositor's deposit.  


Note that you can only arrange these purchases when the bank is actually open, and that once you agree to a trade you need to go to the bank and deposit the cash ASAP, as you are holding up this seller from selling their Bitcoin to someone else since it is being held in Escrow.
 
You can also arrange face to face meetings with sellers of Bitcoin to exchange cash, and use various other methods at Local Bitcoins, as well as sell Bitcoin yourself.
 
Further, note that if you are doing a high volume of these trades you may need to register as a money exchanger.  Fincen has issued guidance which indicates that "virtual currency administrators and exchangers that provide services within the U.S. must register with Fincen as money-services businesses and that they share similar regulatory responsibilities with other financial institutions" according to the Treasury Department's Financial Crimes Enforcement Network (Fincen).  More details: 
Fincen Guidance

Good News!  Fincen says Bitcoin Investment is not a Money Service Business!

Lastly, ensure that you enable Two-Factor authentication on your Local Bitcoins account.