There are automated transfer machines specifically designed for Bitcoin transactions.
An ATM Bitcoin machine is much like the traditional ATM that dispenses fiat currencies, where you use your debit card to withdraw USD, EUR, INR etc.
So you want to know about Bitcoin Automated Transfer Machine, and how to use it to buy, or send Bitcoin to someone, right?
If you don’t already do not worry, as this post got you covered right now. Because you will see how to buy, or send Bitcoin with an ATM Bitcoin machine near me.
I will also throw some light on how to find Bitcoin machine locations that are near you with Bitcoin store locator, or even when you travel to a region that has the nearest Bitcoin machine available.
Before that anyways, I will like to explain briefly on how important a Bitcoin ATM can be in the cryptocurrency community.
However, unlike the traditional fiat ATMs, some Bitcoin ATMs actually allow you to withdraw bitcoins from it. Some help you convert your bitcoins into fiat currencies, while there are also some that help with both!
One good thing about these ATMs is that, they allow you to buy/sell bitcoins anonymously.
No KYC, or AML is required before using a Bitcoin ATM, which means it is actually a very good way to secure your identity and privacy.
But mind you that, there is always price to pay for the privacy. Bitcoin ATMs typically charge between 7-10% for buying and selling of Bitcoins, a fee worth paying for some of us.
To use a Bitcoin ATM, you need to find it first and that can be a tough part, because of the low number of Bitcoin ATMs around the world.
How to locate ATM BTC machine near me
To find a Bitcoin ATM near you, you can make use of the Coin ATM Radar service, which provides you with option of searching nearby ATMs using the live worldwide Bitcoin ATM map.
According to Buy Bitcoin Worldwide store locator, there are almost 1,000+ Bitcoin ATMs available today.
The following benefits comes with this Bitcoin store locator service:
- Find Bitcoin ATM map
- Locate nearest Bitcoin ATM/machines
- Get all needed details about that ATM (fees, limits, Buy Only, Sell Only, Buy/Sell)
- Get directions from your location to the chosen ATM machine
Simply visit the main website that features a live map of ATMs and make a search for your preferred location.
- Add your location/city and click enter
- Choose nearest Bitcoin AT, then click to see details
- Click ‘Get directions’ to view location on Google map.
There are a few ways in which you can use the service to locate a Bitcoin ATM near you, the details of which have already been covered in my previous write-up on Bitcoin ATMs.
Now, that you know how to find a Bitcoin ATM near me, let’s dive into how to use these ATMs.
How to use Bitcoin ATM to buy BTC
Buying or selling Bitcoins these kinds of ATMs can sometimes be confusing, because there are different types of Bitcoin ATMs. Below are the type of ATMs available in the market:
- Genesis1 Bitcoin ATM
- Satoshi1 Bitcoin ATM
- Satoshi2 Bitcoin ATM
- Lamassu Bitcoin ATM
- Lamassu with Santo Tirso
- BATM2 Bitcoin ATM
- BATM3 Bitcoin ATM
- BitAccess Bitcoin ATM
- BitXatm Bitcoin machine
- Robocoin kiosk
- Skyhook bitcoin machine
How to use genesis Bitcoin ATM
- Click “Buy Bitcoin”
- Choose coin (e.g. Bitcoin)
- Click scan QR
- Scan QR of the wallet
- Insert cash bills
- Press “Finish”
- Take printed receipt
Selling BTCs using Genesis1 Bitcoin ATM
- Choose to withdraw cash option
- Choose Bitcoin
- Choose the amount you wish to withdraw
- Send Bitcoins to given address QR code from your crypto wallet
- Collect your cash.
Buying BTC using Lamassu Bitcoin ATM
- Scan you Bitcoin address (If you don’t have, make an address)
- Insert fiat bills
- Click send Bitcoins.
Buying BTC using BitAccess Bitcoin ATM
- Click Start
- Now enter your phone number and click proceed
- Enter verification code sent to your mobile number
- Scan the QR code of the BTC address on which you want to receive your BTC
- Enter fiat bill and proceed
- You coins will be sent to your BTC address.
How to use Bitcoin ATM to send money
Selling BTC using an ATM on the other hand, becomes more of a case-to-case basis. Luckily, these machines are very intuitive – follow the instructions displayed on the screens.
It depends on what machine you’re using and the system it uses. If there’s a specific brand of ATM nearby, make sure to do research about it before selling.
There are Bitcoin ATM locators that help you find BATM locations, as well as provide details (such as information about fees, limits, buy only, sell only, buy/sell) and give you directions.
Bitcoin ATM fees
On these Bitcoin machines, the price of 1 BTC is dependent on the current exchange rate. However, the ATMs also charge a fee for their services.
Bitcoin ATM charges from 8-10% on average, which is a little high for most people.
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 the ATM before using it.
Bitcoin Automated Transfer Machine
Making use of Bitcoin ATM is really good, provided you can bear the extra charge to get your Bitcoins transferred to you and you can also find the nearest Bitcoin ATM in your location.
Have it in mind too that some ATM near me require you to scan your ID documents, and may also ask for your phone number for KYC purposes.
Whichever, this generally happens when you are purchasing a large number of Bitcoins.
Moreover, total number of ATMs around the world are very less, and some of them can only be either used to buy or sell BTC, because the two-way type Bitcoin ATM is very rare to find.
Some Bitcoin ATMs even accept Bitcoin debit cards so you can also withdraw cash in case you need it while traveling to a foreign country.
This feature eliminates the headache of exchanging different cryptocurrencies, while traveling abroad.
In the coming days, we believe the Bitcoin ATM technology will further be enhanced and we will see numerous Bitcoin ATMs in every part of the world just like the traditional fiat ATMs.