Bitcoin ATMs are a popular way to buy bitcoins with cash.
This guide will show you exactly how to use a Bitcoin ATM.
Key TakeawaysAn initial note:
Bitcoin ATMs almost always make you buy bitcoins with cash. Credit card and debit card are not accepted.
So the first step to buying bitcoins from a Bitcoin ATM machine is to determine the amount you want to buy, and prepare the cash to bring to the ATM.
Once that’s done, the process is fairly easy:
This is just a demo video, but it shows you just how fast the process of buying from a Bitcoin ATM is:
Today, many ATMs make you pass extra verification so things won’t be as fast as the video above.
If someone you don’t know asked you to send them money through a Bitcoin ATM teller machine, it’s likely a scam.
Google is filled with stories of people losing money in ATM scams.
When finding an ATM machine to use, always try to find one in a public area like a mall or gas station. This will make the process more secure for you.
Every ATM operator has different ATMs, therefor it may be helpful to watch a video for the specific provider you’re trying to use.
So, once you’ve decided on which ATM you’re going to use, figure out the company operating the machine.
Once you know the operator, you can see if it’s listed in the videos below.
The fees to buy bitcoins and crypto at an ATM with cash generally cost 5-12%. It’s optimal to buy bitcoins online from an online exchange if you want to buy in a more cost effective way.
Online exchanges generally charge between 0%-2% in fees.
➤ MORE: Find Bitcoin ATM Locations Near You
Bitcoin ATMs may require identity verification. This is because most countries have strict Know Your Custom laws, meaning the operators are required to ID each buyer or seller at the ATM.
