To use a Bitcoin ATM, simply insert the amount of fiat currency you want to exchange, choose the cryptocurrency you want to exchange for, and enter a wallet address to send it to. You may need to also enter some personal information.
Drop files anywhere to upload
Are bitcoin ATMs safe? Bitcoin ATMs are safe to use although they have higher fees than traditional exchanges. What do I need to withdraw from a bitcoin ATM? Many Bitcoin ATMs don’t allow you to withdraw fiat currency. For ones that do, you’ll need to send Bitcoin from your wallet to the wallet address provided by the Bitcoin ATM. From there, you’ll be able to withdraw your funds. In my previous research for Coinbase alternativesI discovered a fairly novel way to purchase Bitcoin and other altcoins — Bitcoin ATMs.
Like normal ATMs, you deposit cash into the machine, but instead of receiving your funds in a bank account, you receive an equivalent amount of Bitcoin in a wallet that you provide.
Bitcoin ATM Map, News and Information
There are currently over Bitcoin ATMs across 58 countries. Beyond the thousands of ATMs, there are almost 40, service providers that can help you exchange Bitcoin for cash and vice versa. Bitcoin ATMs have been popping up recently in online articles promoting the ever-growing adoption of Bitcoin, but I wrongly assumed that they were limited to large cities.
My first impression The ATM was a little tough to find hidden behind a stack of water bottle cases and a couple of mini-kegs. I get the text with my password almost immediately.
This seems a bit invasive, but once again, I push forward. So much for privacy For the last step of the registration, I need to take a selfie. The sacrifices I make to produce an interesting article. This is a strange requirement, but okay. I try again, showing off my pearly whites this time, and that does the trick. Finally, time to buy some Bitcoin. The next screen informs me that my registration has been submitted but not approved yet. I could either stand in the gas station awkwardly waiting for my approval, or I could call it a day and visit again tomorrow.
I choose the latter. Back at the machine, I once again have to enter my phone number to get my password.