It’s not all BATMs that has cash withdrawal feature.
If you are looking to sell your BTC, you are in the right place. Because you will learn how to find Bitcoin ATM near you, that allow you to make cash withdrawal.
Incase you don’t know much about this financial technology yet, you should go and read my guide on what Bitcoin ATMs are and how they work.
Warning: Individuals are experiencing errors when withdrawing directly from exchange accounts and sending to Bitcoin ATMs.
However, one of the easiest ways to convert Bitcoin to cash in using a Bitcoin ATM, but you just have to find the right one that has this particular feature.
How to withdraw money from BATM
Withdrawing cash at one of these Bitcoin cryptocurrency ATMs is easy. Follow these simple steps:
- Select Withdraw Cash at the ATM
- Select the amount of cash that you wish to receive
- Send Bitcoins to the provided wallet address
- Enter the number of Bitcoins in your crypto wallet
- Press Send and your cash will be dispensed immediately.
Congratulations… you have successfully withdrawn money from a Bitcoin ATM in cash!
Below are my answers to some of the frequently asked questions on how to make cash withdrawal with Bitcoin ATMs in the locations near us.
Does Bitcoin ATM have withdrawal limit?
On the normal, you can actually withdraw any amount of Bitcoin from the ATM. Though, you may be required to provide some more personal information, when you are withdrawing huge amount.
What is the standard Bitcoin ATM withdrawal fee?
On average, a Bitcoin ATM charges 8-10% – which is a little high for most people, and when you compare it to some other ways to cash out on BTC.
Despite 8-10% being the average, costs often vary per machine (it can go higher and lower), so make sure to read the instructions of an ATM before using it.
Withdraw cash from Bitcoin ATM
This kind of Bitcoin transaction typically happens in under 30 minutes, while the normal wait time is outside of the operator’s control.
All Bitcoin operators charge a fee for using the Bitcoin ATM to buy or sell Bitcoin.
However, one of the lowest fees of all the Bitcoin ATM operators is in the US. This means that you’ll take home the most cash possible from the Bitcoin you are withdrawing.
Do not forget to maintain high anonymity with a VPN, when using public machines to avoid your transaction footprints being tracked afterwards.
One more thing; never you transfer Bitcoin from an exchange wallet account directly to a Bitcoin ATM to avoid loosing your money in the process.