How Does a Bitcoin ATM Work?

Using a bitcoin ATM is quick and easy, but it works a little differently depending on whether you’re buying or selling.

How to buy bitcoin using a bitcoin ATM

If you’re ready to use a bitcoin ATM, follow these steps:

1. Find a bitcoin ATM near you. To find one, use sites such as CoinATMRadar.
2. Click the “Buy Bitcoin” button on the screen.
3. Go through identity verification. Some ATMs require a phone number or ID scan.
4. Scan the QR code of your bitcoin wallet – it will tell the ATM where to send your bitcoins.Deposit cash or pay with a debit card.
5. Confirm your purchase.
6. Receive the bitcoin to your wallet. (This may take a few minutes depending on network speed).

Once the transaction is confirmed, your bitcoins will appear in your wallet. Always double-check the amount before finalizing the transaction.

How to sell bitcoin using a bitcoin ATM

If you need cash in exchange for bitcoins, here’s how to do it:

1. Find a two-way bitcoin ATM. Not all ATMs support the sale!
2. Select “Sell Bitcoin.”
3. Enter the amount you want to sell.
4. Scan the ATM QR code with your bitcoin wallet.
5. Send the bitcoin to the ATM wallet.
6. Wait for the confirmation. This may take 10-30 minutes.
7. Withdraw the cash after confirmation.

Some machines require you to return later after verifying the transaction, so save your receipt or purchase code.