How to Use Bitcoin ATM - A Beginner's Guide

Bitcoin ATM is used in buying and selling of the Bitcoin. Due to the popularity of Bitcoin, there are various Bitcoin ATM available in various location.

Bitcoin can be purchased by using cash or credit card in Bitcoin ATM. Usually, the Bitcoin ATM can buy or sell Bitcoin. There are a few ATM that can offer both the services.

Bitcoin ATM commonly refers to as Kiosk. As Kiosk is the small Structure placed in the high traffic area, especially for economic purposes.

Due to the lack of central authority Bitcoin ATM directly connects to the Bitcoin exchange.

The users while using Bitcoin ATM often report high transaction fees.

The benefit of using Bitcoin ATM is that it allows transaction anonymously.

Limitation

There are various government bodies that have banned the use of Bitcoin. Due to this, its availability is limited to the country where the Bitcoin is available.

Locate Bitcoin ATM

Bitcoin ATM can be located by using the online website like the Coin ATM Radar.

Buying Bitcoin By using ATM

Depending on the types of ATM Machines available the operation the process can slightly vary.

The first step is to click the Buy Bottom. Some require phone number verification.

The second step is to choose a Coin. In this case Bitcoin.

The third step is to Scan QR Code By clicking Scan; new wallet can also be created.

The fourth step is to insert the cash bill.

The fifth step is to press the finish can collect the printed receipt.

Selling Bitcoin

The first step is to choose to withdraw cash option.

Second Bitcoin cryptocurrency needs to be chosen.

Third, the amount needs to be withdrawing needs to be chosen.

Forth, Bitcoin needs to be sent in given address QR code from mobile app.

Fifth, cash needs to be collected.

Conclusion

Bitcoin ATM can be used in buying and selling biotin. Bitcoin ATM can be located by using the website. Fees are higher compared to other options available. Some Bitcoin ATM uses phone number verification.