How to Use a Bitcoin ATM: A Quick Step-by-Step Guide

Today, around 106 million people in the world use cryptocurrencies, and 89% of American adults have heard of Bitcoin. If you’re feeling out of the loop now, then there’s never a better time to jump into crypto than now!

You might’ve seen that people buy and sell Bitcoins on online exchanges, which is handy because you don’t have to leave the comfort of your own home to do so. But did you know you can also use Bitcoin ATMs?

Read on to find out what these are and how to use a Bitcoin ATM.

What Is a Bitcoin ATM?

A Bitcoin ATM looks like a regular ATM, but functions slightly differently.

How does a Bitcoin ATM work? This kiosk is hooked up to the internet and can perform transactions with real-time dollar-to-Bitcoin rates (and vice versa).

What makes this handy is the fact that Bitcoin ATMs deal in cash. So you can gather up your extra cash lying around to buy some Bitcoin or sell some of your existing crypto to get some cash in hand.

How to Use a Bitcoin ATM

To use a Bitcoin ATM, you’ll want to first find one nearby by using a site like this one: https://www.bytefederal.com/bitcoin-atm-near-me/. After you find a Bitcoin ATM, visit the kiosk and follow the instructions below to use it like a pro!

Do note that while you’ll need a digital wallet to store your Bitcoin in. If you don’t already have one, it’s a good idea to get one and set it up before visiting a Bitcoin ATM.

How to Buy Bitcoin

To buy Bitcoin at a kiosk, select that choice on the screen. Input how much you want to spend and the ATM will tell you how much in Bitcoin you’ll get.

After you confirm that you want to buy that amount, you’ll be prompted to insert cash. Then, the machine will ask you to scan the QR code for your Bitcoin wallet. It’ll then deposit that amount in.

If you don’t have a crypto wallet, the ATM can issue you a temporary one. Make sure to transfer your Bitcoin to a digital wallet ASAP so you don’t lose out.

How to Sell Bitcoin

To sell Bitcoin, you’ll pick that option and then scan your Bitcoin wallet’s QR code. From there, you can type in how much you want to sell.

The Bitcoin ATM will tell you how much you’ll get. Once you’ve confirmed the sale, the kiosk will deduct that amount from your crypto wallet and then dispense cash.

Start Buying and Selling Bitcoin

By knowing how to use a Bitcoin ATM, you’ll have more options to buy and sell Bitcoin. Whether you want to dabble online or in person at a kiosk, you’ll be able to carry out either choice without floundering. Good luck and we hope you make a killing off of Bitcoin!

Do note that while you’ll need a digital wallet to store your Bitcoin in. If you don’t already have one, it’s a good idea to get one and set it up before visiting a Bitcoin ATM.

Want to find out more about crypto? Then make sure you check out our other posts!

How to Use a Bitcoin ATM: A Quick Step-by-Step Guide
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