In its unceasing progress towards global adoption, the different options to buy bitcoin [BTC] and other cryptocurrencies increase, it is possible to buy bitcoin with a credit card, using paypal, through a bank transfer, purchases in person or from an exchange of cryptocurrencies. Today we are going to talk about another method to acquire these cryptocurrencies and it is through Bitcoin ATMs.
Bitcoin ATMs are ATMs that allow anyone to buy bitcoin with fiat money. Some of the ATMs offer both the purchase option and the bitcoin sale [BTC], if you are interested in using these ATMs and do not know how they work, we will see the steps to follow to make a purchase of bitcoin correctly.
How to sell / buy Bitcoin at ATMs?
There are different providers of bitcoin ATMs and each of them uses a different interface, but do not worry, the use is very similar between them. These ATMs are created in such a way that the interactive menu is intuitive and easy to use for the most experienced users in the world of cryptocurrencies, as well as for newcomers to the sector.
The generic steps when using a Bitcoin ATM to buy cryptocurrencies are:
Buy Bitcoin on ATMs
If the ATM offers both the purchase and sale service, in the initial screen it will give you a choice between these two options, it can also happen that the ATM accepts other cryptocurrencies besides bitcoin, so it will also give the option to select with which currency you want to operate.
Once the purchase option and the cryptocurrency that we want have been chosen, the ATM may require that some identification data be introduced, in some ATMs a telephone is requested to identify yourself, others in exchange do not ask for any personal data, everything depends on the service provider .
When performing the identification step (if you need to do it), you must enter the address of the wallet to which the BTCs should be sent and the amount of BTC that you want to buy, to enter the address of the wallet, the bitcoin ATM asks that a QR code is displayed, this code can be obtained in any mobile wallet application.
When entering the destination address and the amount, the ATM will request that the cash be introduced to make the payment.
At the end of the payment and verification of the transaction, the deposit will be effective on your wallet.
Sell Bitcoin on ATMs
When selling bitcoin [BTC] or any cryptocurrency accepted by a Bitcoin ATM, the process is very similar to the purchase.
You just have to choose the option to sell on the home screen and select the amount to sell. Once this data has been entered, the Bitcoin ATM will indicate a deposit address where you must send the BTC that you are going to sell, as it happens in the sale, this address is usually provided through a QR code. Once the...