A Bitcoin ATM is a kiosk that allows users to buy or sell Bitcoin and, in some cases, other cryptocurrencies using cash or debit cards. These machines are connected to the internet and enable users to conduct transactions quickly without needing a traditional bank. They work in two primary ways:
1. Buy Bitcoin: Insert cash, and the Bitcoin is sent to your digital wallet.
2. Sell Bitcoin: Send Bitcoin from your wallet, and the machine dispenses cash.
Bitcoin ATMs are commonly found in convenience stores, malls, or other public locations. Depending on the provider, the fees can range from 5% to 12% for transactions.
Popular Bitcoin ATM operators include CoinFlip, Bitstop, and CoinCloud. Websites like CoinATMRadar can help you find Bitcoin ATMs near you.
