How To Use A Bitcoin ATM and Where To Find Them

As you may crypto currencies are taking on the whole world. Many people are interested in selling and buying these crypto currencies, especially Bitcoin. It is a virtual currency which is designed in such a way that it can act as money too. But where can you buy and sell the Bitcoin? While there are many options, one of the best ones as of now is the crypto or Bitcoin automated teller machines i.e. ATM. You must be wondering what this Bitcoin ATM is and how to use it. Well, we are here to provide you with all the details along with where you can find these automated teller machines. Read on to know more.

WHAT IS BITCOIN ATM?

Before we get into how to use a Bitcoin ATM or where you can find one, here is a short introduction to it. A crypto or Bitcoin automated teller machine is an electronic stand-alone kiosk that allows you to sell or buy the crypto currencies with your debit card or in exchange of cash. All these machines sell Bitcoin and hence they are called Bitcoin ATM. But some of these automated teller machines have limited the operation to purchase of Bitcoin only and doesn’t allow the sale.

These machine kiosks do not have any connection to any bank account, like that of the traditional ATMs. In fact, they help you in connecting with your digital wallet in order to process your transaction. Once the transaction is processed, your purchase or sales will be successful.

HOW TO USE A BITCOIN ATM?

If you are new to the Bitcoin ATM, then this guide will be quite helpful for you. First of all, to use this machine, you will need a mobile phone along with a valid phone number and a digital wallet. The process or steps that you need to follow for purchasing or selling Bitcoin in an ATM may differ from one machine to another. But there are some common steps that you need to know for using this machine. These are:

STEP #1: SIGN UP INTO A DIGITAL WALLET

Bitcoin ATM will directly connect with your digital wallet in order to process and complete the transactions. Hence, you will need to create a digital wallet for purchasing Bitcoin. There are many reliable and popular digital wallets that you can choose from. Some of the ATMs also offer their own e-wallet. You can easily sign up into that wallet.

STEP #2: FIND AN ATM

The next step is finding a reliable and trustworthy Bitcoin ATM for the transaction. There are many crypto automated teller machines all over the world. Most of them are located in the United States. You can search on Google to find one near you. Also, there are many apps that can help you to find one. We have explained how you can find a Bitcoin ATM below in details.

STEP #3: IDENTITY VERIFICATION

When you will go to the ATM, most of them will need to verify your identity. Hence, they ask for a phone number for the verification. Some of the ATMs can even ask for more, such as photo ID scan or your SSN (Social Security Number).

STEP #4: SCAN THE WALLET

In order to purchase Bitcoin or any other crypto currency from the ATM, you will have to scan your digital wallet first. Most of the digital wallets come with an option where you can display the QR code. You have to scan that QR code in the ATM to gain access.

STEP #5: PURCHASE THE BITCOIN

Once the digital wallet is scanned, you have select Bitcoin to purchase along with how much you will like to pay. After that, you have to confirm the same in order to process the transaction. As soon as the you will successfully deposit the cash, the transaction will be completed and your purchase will be successful too.

STEP #6: GET THE RECEIPT

As the transaction is completed and your purchase is successful, the Bitcoin will be deposited into your wallet. Once everything is done successfully, you will get a receipt from the ATM showing the details and the status of the transaction.

WHERE TO FIND A BITCOIN ATM?

Now that you know exactly how to use a Bitcoin ATM, the first step is to create a digital wallet followed by finding an ATM. So, how to find this machine? As mentioned earlier, there are many reliable Bitcoin automated teller machines located throughout the world. You can find many of them in America.

According to the latest report, there are above 34,000 Bitcoin ATMs approximately in the United States itself and thousands more in Canada. The highest number of machines is located in Texas followed by California. There are many ways to find these ATMs and track their location. These are:

* GOOGLE SEARCH

You can search for a reliable kiosk near your location by simply typing itcoin ATMs near me’. They will show some of the options that are listed in Google Map. This can help you to find a reliable ATM near your location. You can get the details about the address of the ATM from the Google itself.

* ATM RADAR

There are many apps that can help you to find and track the locations of the Bitcoin ATMs. With the help of Coin ATM Radar, you can find these ATMs as well as you can track down the location too. This is the most reliable app as of now. You can try it to locate one nearby.

TO CONCLUDE

Though all the licensed Bitcoin automated teller machines are completely safe and secure, it is important to be aware. Hence, you need to make sure that you are opting for a reliable ATM before linking your digital wallet to the ATM or before processing the transaction. These machines do not ask for any bank details at all for any transaction or verification. But you need to know that these automated teller machines charge a certain fee for every transaction you make. So, make sure to use the automated teller machine cautiously and carefully.