Different operators may have different fee schedules, and the best Bitcoin ATM for you may not always be the closest one. As the ever-frequent failures of banks (and rescues) start to pile up in 2023, Bitcoin is getting ever more relevant. The Bitcoin blockchain isn’t the cheapest to transact on, so you should expect to pay fees regardless of whether you’re making a BTC transaction. However, the exact fee charged by the Bitcoin ATM may differ based on which company operates it.
Once you’re satisfied with the values, click on BUY/CONFIRM/FINISH to verify your transaction. You simply need to insert your cash into the cash receptacle to complete your transaction. Verify the phone number by inputting the verification code sent to your phone number in the necessary field. Bitcoin ATMs are usually situated in cafes, transport hubs, or shops. In many cases, shop or business owners deal directly with providers to provide Bitcoin ATMs in their place. Today, there are more than 38,500 Bitcoin ATMs in the world, according to CoinATMRadar, with more than 90% in the United States.
How to use a Bitcoin ATM: A beginner’s guide
A Bitcoin ATM, sometimes called a BTC ATM, is a physical machine that allows you to buy Bitcoin using cash. Some machines also let you sell Bitcoin and withdraw cash in return. This is one of the most frequently asked Bitcoin ATM questions since both crypto and traditional banking ATMs can sometimes be seen as less reliable. However, as long as you look out for things like terminals on top of existing ones or cameras, it should generally how to buy bitcoin in 7 steps be fine.
As of 2025, there are more than 37,000 Bitcoin ATMs worldwide, with the majority located in the United States. This explosive growth reflects the rising demand for convenient, real-world access to cryptocurrency. Whether you’re exploring crypto for the first time or just want an easier way to buy Bitcoin, this article is for you. They also usually publish instructions on how to send money through their particular Bitcoin ATM machine. Double-check all transaction info and insert the required amount of cash into the ATM. To use a Bitcoin ATM, you will first need to verify your identity.
Key Takeaways
With practice and familiarity, using a Bitcoin ATM will become second nature. It’s important to note that transaction times and fees may vary depending on network congestion and the specific Bitcoin ATM. Be prepared for some variations in the transaction process and consult the ATM’s screen for any additional information or instructions during this step. The first step in your Bitcoin (BTC) buying journey is to create a wallet.
Creating a wallet is essential to being a part of the Bitcoin ecosystem. But luckily for you, it’s easy to do, especially if you’re using Bitcoin Depot’s mobile wallet. The future of Bitcoin ATMs is dependent on the adoption rate of crypto coins, as when cryptos become more mainstream, the number of crypto ATMs will automatically increase. Bitcoin ATMs are becoming a key part of crypto infrastructure, helping more people access Bitcoin safely and easily. Use a debit card, credit card, Apple Pay, or Google Pay on RockItCoin.com. This method is convenient if you want to purchase crypto from home.
Buy & Sell ATMs
Some Bitcoin ATMs allow not only buying but also selling Bitcoin. Selling Bitcoin with Bitcoin ATMs is not so different from withdrawing your money. Once verification is complete, the machine will send the apis and api design with python specified transaction amount to the user’s wallet via their QR code. Each machine is connected to a crypto wallet instead of a bank in regular ATMs. Because everything happens on the blockchain, processing could take a few minutes. Once done, you’ll get a confirmation that your transaction is complete, and your funds will appear in your wallet.
Alternatives to Bitcoin ATMs
This step ensures that you have entered the correct information and allows you to review the transaction before finalizing it. After selecting your preferred transaction type, the Bitcoin ATM will display the current exchange rate and any applicable fees. Take a moment to review these details to ensure you are comfortable with the rate and fees being applied.
Why You Need a Wallet First
Whether you are a seasoned Bitcoin enthusiast or a curious newcomer, using a Bitcoin ATM is a straightforward process that only requires a few simple steps. A Bitcoin ATM machine is a physical kiosk that allows users to conduct cryptocurrency transactions, particularly with Bitcoin. Unlike traditional ATMs, which connect to a bank account, BTMs connect directly to a cryptocurrency exchange via blockchain technology. Users can use them to deposit cash and buy Bitcoin or other cryptocurrencies.
Bitcoin ATMs are designed to be secure and protect your funds, but please always remember to be cautious when using them. Among the top crypto ATM operators, you might come across names like Coinstar Bitcoin Machines, known for their widespread presence. Coin Cloud Bitcoin ATM, despite recent financial troubles, is still operational and popular for its user-friendly interface.
- In many cases, shop or business owners deal directly with providers to provide Bitcoin ATMs in their place.
- Once you’re satisfied with the values, click on BUY/CONFIRM/FINISH to verify your transaction.
- After selecting your preferred transaction type, the Bitcoin ATM will display the current exchange rate and any applicable fees.
- The first step to performing any crypto transaction is getting a wallet that supports the coin or token you want to buy.
- Always check the terms and conditions before initiating a transaction.
Meanwhile, some machines do not need users to register or validate any identity. While there are Bitcoin ATMs worldwide, most of them are in the US. Bitcoin Depot has one of the most extensive networks in North America. It’s easy to find a location by simply looking online or is it too late to invest in bitcoin 2020 downloading the app.
When selling, you send Bitcoin from your wallet to the ATM, wait for blockchain confirmation, and then withdraw cash once the transaction is approved. Click on the BTM to check its type, manufacturer, location, operating hour, supported transactions (buy or sell), supported cryptocurrencies, and fees. Bitcoin ATMs require users to verify their identity with cell phone numbers or the BTM provider’s account during each transaction. No matter which operator’s BTM you use, you’ll have to verify your identity somehow. Most Bitcoin ATMs require a phone number at the very least so they can send you a code. Some require further verification like a copy of your photo ID or social security number, depending on the transaction size.
You didn’t think understanding how to use a Bitcoin ATM would be difficult, did you? At this point, you’ve got your wallet ready and your information typed into the BTM. Well, you need to verify that you’re the one making the transaction. Of course, you’ll want to find your local Bitcoin Depot BTM location.
Bitcoin ATM fees range significantly, often from 10% to 23%, compared to minimal or no fees for most traditional ATMs. Additionally, Bitcoin ATMs require a cryptocurrency wallet for transactions, whereas traditional ATMs rely on physical bank cards. Despite these differences, both types of automated teller machines offer users a quick and convenient way to access their funds.
- Alternatively, you can also tap the “USE MY CURRENT LOCATION” option to enable the website to scan your location with GPS.
- The amount of Bitcoin you get from converting $500 at a Bitcoin ATM depends on the operator’s fee, which generally ranges from 10% to 23%.
- However, these machines do not support selling Bitcoin for cash.
- However, it is important to note that paper wallets have their own risks and vulnerabilities.
- The content of this advertisement should not be construed as an express or implied offer, promise, or guarantee.
- Bitcoin ATMs look a lot like standard bank ATMs, but they function differently.
Many Bitcoin ATMs do require verification and are run by a company, so it’s impossible to fully avoid corporate intermediaries, but it’s a very direct way to buy BTC. Simply choose “sell BTC” when configuring your transaction, and have your wallet at hand to sign the transaction when you’re ready. It’s worth mentioning here that you shouldn’t share or attempt to scan your wallet’s private key. Now all you need to do is insert the cash required to complete the transaction and enter your confirmation.