Ever wonder how you can buy bitcoin using good old-fashioned cash? That’s where Bitcoin ATMs come into play!
A Bitcoin ATM is exactly what it sounds like—an automated teller machine for bitcoin (BTC). It’s a physical machine, usually found in public places, that lets you buy or sell BTC (and sometimes other cryptocurrencies) in exchange for cash or a debit card payment. It’s like your traditional bank ATM, except it connects you to the exciting world of crypto instead of your regular bank.
▶️ How Do Bitcoin ATMs Work?
Bitcoin ATMs are pretty straightforward. To buy bitcoin, you insert cash into the machine, scan your wallet QR code, and the ATM will automatically transfer the BTC to your wallet address. We will cover the steps in more detail below, but keep in mind that you will need to set up a crypto wallet if you haven’t already.
Depending on the location, Bitcoin ATMs may offer both buying and selling services. However, some Bitcoin ATMs will only allow you to buy, and others will only allow you to sell.
If the ATM allows you to sell bitcoin, you can do it by sending the coins from your wallet to the address provided by the machine. Once the transaction is confirmed on the blockchain (which might take a while), the ATM will release the cash. Just make sure you know whether the ATM you’re using supports selling.
