Bitcoin ATMs have revolutionized how people interact with cryptocurrencies. These machines have made it much easier and more convenient to conduct transactions. They really operate much like traditional ATMs. Instead of dispensing cash in the form of U.S. dollars, however, Bitcoin ATMs issue the digital currency.
A person can mainly only use them to buy or sell Bitcoin, although some kiosks also enable transactions involving other cryptocurrencies. Because this might be your first experience with cryptocurrency ATMs, it may be helpful to first find out where you can find Bitcoin ATMs near me and, once you do, how to actually use them.
Finding a Bitcoin ATM Near You
The first step in the process of using a Bitcoin ATM is to find one in your vicinity. There are many web-based and mobile app resources that assist with this step and provide a map of all the nearby machines.
Searching for a particular location, one can then filter the results based on whether the machine in question allows the user to buy Bitcoin, sell it, or do both. Once you’ve located a Bitcoin ATM near you, confirming the following is essential:
Supported cryptocurrencies
While most ATMs exist to serve Bitcoin, a few do also permit transactions with Ethereum, Litecoin, as well as some other digital currencies. These are less common Bitcoin-only machines.
Transaction Type
Some ATMs allow only purchase transactions to be conducted, while others permit both purchase and sale activities to be carried out.
Costs and Confines
Costs vary by operator and location, but generally they are between 5% and 15% per transaction. ATMs also usually impose a daily limit on the number of transactions you can make.
Buying Bitcoin Using a BTM
There is no reason to be intimidated about using Bitcoin ATMs near me. Even if you’re your first time, buying or selling from a BTM is an uncomplicated procedure.
- Select “Purchase Bitcoin”
- State the Total
- Verify Your Digital Wallet’s Address
- Place your cash
- Confirm and Approve Bitcoin
Selling Bitcoin Using a BTM
A crypto ATM can be used to sell Bitcoin in an uncomplicated fashion. At the point-of-sale, you first scan the QR code on the receiving wallet. Then you tap the option on the screen that allows you to execute a sell order instead of a buy order.
- Select “Sell Bitcoin”: Indicate the amount you want to sell.
- Send Bitcoin to the Recipient: The machine will issue a code for you to scan. Using your crypto wallet, send the Bitcoin to the address displayed.
- Wait for Validation: Bitcoin transactions take a few minutes to network validate.
- Cash Dispensing: Following the transaction verification, the ATM gives out the required cash.
Using Bitcoin ATMs Near Me Is Fast and Convenient
For a fast, easy, and secure way to transact, a BTM can’t be beat. When you buy or sell cryptocurrency at a Bitcoin ATM, you’re dealing directly with the machine; not with anyone at a bank, brokerage, or exchange. This means that you can handle your own transaction however you prefer.