Bitcoin is booming in popularity. With low transaction fees, ease of use, lack of government involvement, and overall security, it’s not surprising. The benefits of bitcoin are numerous.
And now with the rise in bitcoin ATM machines, buying, selling, and sending cryptocurrency is easier than ever.
Keep reading to find out exactly how to use a bitcoin ATM and make the most of this fantastic technology!
Find the Nearest BTM Kiosk
First things first, you’ll need to find out where the closes bitcoin ATM is. Lucky for you, there are ATMs spread across sixty countries around the globe, so it shouldn’t be too far.
Visit www.bytefederal.com to quickly and easily find out where the nearest bitcoin ATM is.
Using a Bitcoin ATM to Buy Cryptocurrency
There are plenty of different BTM kiosk providers around the world but there’s one thing they all have in common – you can buy cryptocurrency. Depending on the machine you use, you’ll have a choice of cryptocurrency, but bitcoin will always be an option — it’s in the name, after all.
Simply choose the ‘buy bitcoin’ option on the screen of the ATM. You’ll need to scan the QR code of your unique bitcoin wallet using the built-in ATM scanner. This is so the machine gets your bitcoin address information.
Depending on the type of machine, you may have to add in some personal information to confirm your identity.
Once your identity is confirmed, type in the amount of cryptocurrency that you’d like to buy. Double-check that you’ve put in the right amount and then feed the ATM your cash bills. You’ll need to wait a couple of minutes until the cash transaction is confirmed on the blockchain.
How to Use a Bitcoin ATM to Sell Cryptocurrency
To sell bitcoin you’ll follow many of the same steps as above, yet you’ll need to choose the ‘selling’ option. Choose the wallet address you want to sell it from or scan your unique QR code with the ATM scanner.
You’ll be able to input how much cryptocurrency you want to sell. After the transaction is complete, you’ll receive cash bills from the machine.
Keep in mind that each ATM operator charges a different rate for each payment method.
Send Someone Money Using a BTM
Choose the option to send money and input the amount of money you want to send and the address of the bitcoin wallet that you’re sending it to. Insert the cash bills into the machine and wait for a receipt.
The recipient will be able to draw money from an ATM machine close to them.
You’re Ready to Use a Bitcoin ATM Machine
Using a bitcoin ATM machine is easy as pie. Armed with this knowledge you’ll be buying, selling, and sending cryptocurrency in no time. Remember to find the nearest ATM and compare transaction fees for the best deal.
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