How to use Bitcoin ATM

Cryptocurrencies are back in the spotlight this year, with Bitcoin leading the way. The most popular and valuable cryptocurrency is seeing new highs, and people are getting more and more interested in acquiring some. If you are one of those people looking to buy Bitcoin , Bitcoin ATMs are a very convenient means to do exactly that. Their number is constantly rising, and more than 10000 can be found all around the world. You can find them in all kinds of places like cafes, restaurants, malls and gas stations. If you are interested in learning what Bitcoin ATMs are and how they work, his article is just right for you. After reading it, you should be able to find one in your vicinity and be comfortable with buying or selling Bitcoin through an ATM. Let’s get started with our short guide. What is a Bitcoin ATM? A Bitcoin ATM works pretty much the same way as a traditional ATM. You put a credit or debit card in the machine and then receive cash. However, the difference here is that it allows you to withdraw BTC on your personal wallet. There are several types of different Bitcoin ATMs: ATMs where you can buy Bitcoin with fiat money, either with a credit or debit card, or cash. ATMs where you can sell your Bitcoin for cash And ATMs that can do both aforementioned types of transactions. Depending on what you are trying to achieve, check out this Bitcoin ATM map which will help you find the right type of Bitcoin ATM in your region. These machines are very handy when trying to buy or sell Bitcoin or other cryptocurrencies. They streamline the process of converting Bitcoin into fiat money and skip some tedious steps encountered on exchanges. Open a Bitcoin Wallet If it’s your first time purchasing Bitcoin, you will need to open a Bitcoin wallet. A BTC wallet is a software program that helps you store, receive, and spend your coins safely. When using a Bitcoin ATM, the most convenient wallet will be the mobile wallet, due to the instant QR scanning abilities of your smartphone. A mobile wallet is a smartphone app that helps you carry your coins everywhere with you, making it excellent for everyday use. Atomic wallet is a community-favorite thanks to its intuitive interface, good security, and overall range in functionalities. Buying Bitcoin Depending on the ATM you will be using, the process may vary slightly when you want to buy Bitcoin. However, there’s usually a general flow that you can follow in most cases. Here’s how you should proceed: First, choose the option to buy BTC on the touchscreen. Usually, there will be other currencies present like Bitcoin Cash and Litecoin. So make sure you choose Bitcoin as your wallet will only be compatible with that type of crypto. Then enter the amount of fiat you want to spend (or how much Bitcoin you want to buy). Next, scan the QR code from your wallet with the ATM scanner. This way, the ATM will know where to send the Bitcoin that you purchase. And finally, proceed with your payment. Depending on the ATM, you can do this with either your credit/debit card or with cash. Once the payment is accepted, you should receive your Bitcoin within a few minutes. The waiting time depends on the load of the Bitcoin network. Be patient as it can take between 5 and 15 minutes. Selling Bitcoin If your goal is to sell Bitcoin, the process can be a bit more complicated. Selling BTC on an ATM is more of a case-by-case basis, as most of them use different systems. So before you head on to sell your Bitcoin to the nearest ATM, check out the type/brand and do a quick youtube search on how they work. Nevertheless, these are pretty intuitive machines, and will most likely guide you through the entire process. Usually, here’s how they work: Choose the option “Sell Bitcoin”. Then, enter the amount of BTC you want to convert into fiat. Choose your payout method - these will usually be our credit/debit or cash. The machine will then display or print out a QR code, that you need to scan with your mobile wallet. Confirm the transaction and send the Bitcoin to the ATM address. When the transaction is processed, you will receive a receipt that your money has been transferred to your account or receive the cash from the ATM distributor. Wrapping up Hopefully, our post has helped you learn more about BTC ATMs and their usage. While they can be practical, the fees can be quite steep sometimes. And if you don’t want to leave the comfort of your home, you can use a crypto exchange to buy Bitcoin with credit card instead.