Buy And Sell Bitcoins With The Help Of Bitcoin ATM Easily And Quickly!
The demand for bitcoin is highly increased in recent times because of its security, ease of transaction, and privacy. Many people still do not know the process of buying and selling bitcoin. Whether you want to make a Buy And Sell Bitcoins, take the help of the Bitcoin ATM. It is similar to the ATM that you access regularly for cash withdrawal and deposit. Here, bitcoin ATMs are specifically designed to fulfill the needs of bitcoin users. With this machine, one can withdraw the money and send the cash to another account through their wallet.
Apart from buying and selling cryptocurrencies, you can use this machine appropriately to perform several transactions without any hesitation. This machine offers top-line safety for all the transactions. As said before, it works just like the regular ATM and therefore you need not worry about anything. However, few people still think that the Bitcoin ATM is extremely different from the normal machines. As a result, they tend to avoid the usage of this machine. We want to educate those people and help others who wish to use the machine.
In this article, we are going to mention the ways to use Buy And Sell Bitcoins as well as withdrawal and transfer of money. Be focused and read everything carefully to improve your knowledge of to use of bitcoin.
Bitcoin ATM – What is it?
Firstly, you have to understand what the Bitcoin ATM exactly is. This machine makes it easier to swap your fiat currency for the bitcoin and sell bitcoin to get the fiat currency. In simple words, bitcoin ATMs are the exchange platform that offers the medium for converting cash into electronic form. This machine is connected to the internet and let the people insert the credit card or cash in exchange for bitcoins. It also has the ability to dispense cash similar to the traditional ATM. It is all depending on the model of the machine in which you engage.
Even though it looks similar to the regular ATM, it does not connect to the bank account. Rather than, it connects the customer directly to the bitcoin exchange. Thus, it renders the localized, convenient, and stress-free method to buy and sell the bitcoin in person. Multiple methods are there to pay for the bitcoin. Choose the reliable one as per your needs and enjoy the trouble-free transactions. To use the Bitcoin ATM, it is necessary to have a bitcoin wallet. Commonly, you will find the ATM machine in airports, malls, retails shops, and restaurants. It is also called the bitcoin kiosks and bitcoin vending machines.
Different types of bitcoin ATM
At present, two types of bitcoin ATMs are accessible in the ground. The first type is one-way bitcoin ATMs, which assist in exchange the of cash for bitcoin. When you put the cash in the ATM, you will be able to receive bitcoin in your wallet. It is often termed as the fiat to crypto. It means the machine converts the fiat currency into the bitcoin. The next type is the two-way bitcoin ATMs. It helps the users to purchase bitcoin with the cash and then exchange the crypt back into the cash. This bitcoin ATM assists you in cash out of your bitcoin investment. It converts the crypto (bitcoin) to fiat.
Reasons to access the bitcoin ATM
Before entering into the topic, let us discuss the most compelling reasons to use the bitcoin ATM. It gives the appropriate answers to all your doubts. It means you tend to do transactions using the ATM without any hesitation. Banks have made purchasing bitcoin highly difficult. Most of the major banks in many countries have banned access to their customers’ accounts to buy services and goods related to bitcoin and other cryptocurrencies. At the same time, bitcoin ATM users never confront any hassles and feel free to buy and sell bitcoin and other cryptocurrencies with their hard-earned money straightly on the machines. Here are the reasons to use bitcoin ATMs.
- You will enjoy a high level of privacy when using this machine. Not like online exchanges, bitcoin ATM machines let you remain anonymous by removing the KYC process. Whether you purchase little or more bitcoin value, you will never be forced to reveal personal information. Thus, you can enjoy a high level of privacy through this transaction method.
- As the crypto market is changing constantly, you will get different outlets and methods to purchase cryptocurrency.
- When you approach an online exchange to make a purchase, you have to wait for some time to process your requests.
- It is because too many account requests are under process. Additionally, you need to verify your account to enjoy the flexibility of a bitcoin purchase. However, using the bitcoin ATM that is located in 24×7 convenience stores, you need only the mobile wallet. With the shortest verification time, you can complete all your transactions.
- Once you become familiar with the online exchanges, you come to know the hassles involved in buying the bitcoin because it has some cap. It restricts you to spend a certain amount to purchase the bitcoin, Within the ATM, you will never confront these much of hassles. You have no purchase/transaction limit when buying the cryptocurrency.
- For newcomers, it is quite hard to navigate through the crypto market. The bitcoin ATM renders investors a space to become familiar with the secure method of buying bitcoin. As soon as you confront an issue, you can speak with the experts by calling the helping number. It connects you to the dedicated phone line that is available 24×7 throughout the year. Thus, your problems will be solved in a short time
- Many people want to enjoy the convenience when making the transactions because they do not want to waste time signing up for the online exchange. With the machine, they require to spend a few minutes to enjoy the service they want.
- Most importantly, they do not require any bank account to purchase the cryptocurrency via bitcoin ATM. However, you require a bank account, credit card, or e-wallet for fiat money to transact in the crypto exchange. As the ATM accepts the cash, you never confront this issue anymore
- To use the bitcoin ATM, it is not required to have any technical knowledge. Having less tech knowledge is enough to make the transactions. Only a few tech-related steps are there to follow to buy bitcoin through the ATM when compared to the exchange
- Regarding the fees, ATM machine charges something higher when compared to other options but it minimizes the hassles involved in the entire process. The fees also differ from one machine to another because different service providers offer the ATM for transactions
How to purchase bitcoins from bitcoin ATM?
Have you decided to purchase bitcoin through the bitcoin ATM machine? Throw all your hesitations away and follow the steps mentioned in the below section. It helps you to make the buying decision easily and quickly.
- Firstly, it is necessary to find out the bitcoin ATM near you. If you find any difficulty in this aspect, then take access to the map that lets you discover the nearest ATM
- As soon as you find the machine, tap the buy bitcoin button on the screen. You have to enter your details correctly and verify your id. It is just to register and verify your identity.
- That’s enough. You are not ready to make a bitcoin purchase decision. All you have to do is entering the amount in $ for which you wish to purchase and slip in the fiat notes one-by-one into the deposit area.
- Upon the completion of the deposited money, the machine prints on the offline wallet or send the bitcoins directly to your bitcoin wallet via your email address.
- Starting the bitcoin wallet firstly helps you obtain the slip of paper with the QR code printed on it. It helps you to get the private key to gain access to the bitcoin that you have purchase
- To obtain the private key, all you have to do is scanning the code. You have to use the private key in your bitcoin wallet to obtain access to your bitcoins
- In case, if you wish to send the bitcoins to the pre-existing wallet, scan the QR code that represents your wallet address with the help of a BTM scanner
- Get the QR code to your email upon selecting the option of receiving the bitcoin by email. Some services let you set the password to encrypt the email. Engage with the specific option that is comfortable for you to complete the purchase process
- Some of the bitcoin ATMs may require user verification through the mobile number and fingerprint scanning validation. This actually depends on the machine operator and is usually needed in the case of the larger transactions.
Sell the Bitcoins using the Bitcoin ATM
The selling process of the bitcoin ATM is much similar to the bitcoin purchase. Instead of purchasing, you are going to sell the bitcoin. To do so, following the below-mentioned steps are enough.
- After locating the machine near you, verify your account and press the sell button
- For selling the bitcoin, you need to enter the amount of bitcoin you wish to sell. After that, send the bitcoin to the address displayed on the ATM machine screen
- Once the transaction is completed, you will get the fiat money
Using this hassle-free method, you can sell your bitcoin and other cryptocurrencies easily and quickly.
Everything you must know about bitcoin ATM
Now, you are aware of the steps to complete the purchase and selling process of bitcoin. These things are not enough to enjoy the transactions and enjoy tons of benefits. You have to understand more about the bitcoin ATM. Here, we have mentioned the major things about the ATM. Take a glance before starting your transactions.
Why do you have a wallet?
As mentioned before, you should have a bitcoin wallet when you wish to access the bitcoin ATM. Next, you should have the address to keep the bitcoin you have purchased. Select the mobile bitcoin wallet because the buying process involves QR code scanning on the ATM. If you plan to sell the bitcoin, you have to transfer the bitcoin there from another wallet. You can transfer it from your mobile wallet later to purchase the bitcoin. Now, you understand the importance of the wallet. In simple words, the wallet plays a major role in completing all kinds of transactions.
Why it is necessary to confirm the transactions?
Regardless of the method that you use to access cryptocurrency, you should understand that every crypto transaction is permanent. It means that you do not have an option to reverse the transaction once it is completed. This is why it is necessary to double-check the wallet address before confirming. Always confirm whether you have entered the wallet address appropriately. To avoid this hassle, you can scan the QR code instead of inputting the wallet address manually. It increases the accuracy level and makes you enjoy a hassle-free transaction. Keep in mind that making a single mistake in the wallet address lets you lose your funds forever.
Are all the ATM machines support both selling and buying?
No! Some machines support only a specific action whether it is selling or purchasing. Before making a transaction, you should consider whether the machine supports your transaction. It is always better to look for an ATM that supports both selling and buying. Some cryptocurrency ATMs do not cover the bitcoin. Instead of wasting your time on the wrong destination, you have to confirm whether you make the desired transaction on the chosen machine beforehand. Think smart and work well to fulfill your needs instantly.
What are the other things you do with the bitcoin ATM?
Some of the bitcoin ATMs give you a space to do several actions similar to the traditional ATMs. For instance, you may pay your bills using bitcoin. It is possible with the ATM machine that converts the bitcoin to fiat. On the flip side, ATMs allow for transfers between the bitcoin wallets. Keep in mind that these features are rarely found in the machine and therefore you do not expect these things without the special search. Spending some time searching for the right machine saves more of your time later.
Where are most of the bitcoin ATMs available commonly?
Even though the number of bitcoin ATMs is growing hugely, they are not easier to find. Compared to smaller towns and areas of the world, you are more likely to find an ATM in large cities. Almost 73 countries have the bitcoin ATMs to service the people who use the cryptocurrency to do transactions. There is no perfect way to predict where you find the ATM and which cities have none. However, you can do some research and look online to find the nearby ATM. Or else, you can access the map offered by the specific ATM service provider. You will find thousands of bitcoin ATMs in the United States and Canada. However, countries like France and New Zealand have only a few ATMs.
Can you purchase and sell bitcoin anonymously?
Bitcoin is not anonymous exactly. Every bitcoin transaction is visible publicly as soon as it is published in the blockchain. Usually, the transactions are associated with the bitcoin address – not the account number or name. Plenty of ways are there to trade while keeping your information and identity vague.
Is it possible to use a credit card to purchase bitcoin?
Yes, you can access any funding source virtually to purchase bitcoin while other cryptocurrencies may render few options and less flexibility. Most of the online exchanges accept debit cards and credit cards. Actually, these virtual cards are the fastest way to purchase bitcoin. Apart from this, you will access the funding options such as wire transfer and bank account. However, it takes more time than usual to complete the transactions. To be frank, it takes about a few minutes to a few days to complete the process. You will also viable options such as PayPal and cash to purchase the bitcoin.
How much bitcoin is allowed to purchase at once?
Even though you have huge cash to buy bitcoins, it has some limits. Some of the exchanges and platforms put the daily or weekly cap on how much crypto you can purchase based on the payment method you access, your purchase history, and the longevity of the account. Even after you verify your identity, you still have some limitations in buying the bitcoin per week with a credit card and accessing a bank account. The transaction fee is also changing from one account into another.
Bitcoin ATMs are offering a great deal of convenience for the people who want to Buy And Sell Bitcoins. However, they are limited in number so that it is always better to locate the machine near your location. Throughout the world, many thousands of bitcoin ATMs are available. Bitcoin ATMs are highly popular for their privacy and convenience. However, it often comes with high charges. You should understand much about the machine before making any transactions. Keep in mind that you should find the right ATM beforehand to avoid the hassles involved in using the machine.