What You Need to Use a Bitcoin ATM
- A Bitcoin wallet to store your transactions. This can be an app on your phone
- The location of a Bitcoin ATM near you
- Your cash
Here’s How to Use a Bitcoin ATM:
- Create an account with the Bitcoin ATM operator. This will register your identity and allow you to use the machine.
- Get your Bitcoin wallet ready.
- Find a Bitcoin ATM using a location finder like Coinsource’s.
- Enter your Bitcoin wallet address into the machine.
- Insert your cash into the ATM.
- Receive a receipt confirming your transaction. This will show that you now own the Bitcoin you bought, minus any fees.
- Enjoy your new Bitcoin.
How to Withdraw from a Bitcoin ATM?
- Create an account with a Bitcoin ATM provider. This is quick and easy to do, and will allow you to use the ATM to withdraw cash.
- Find a Bitcoin ATM that offers 2-way capabilities (i.e. you can both buy and sell Bitcoin). A list of Bitcoin ATMs with this capability can be found at CoinATMRadar.
- Have your Bitcoin wallet address ready. You will need to own Bitcoin already and have it stored in a wallet in order to use the ATM to withdraw cash. Having the address of your wallet ready will make the process much smoother.
Withdrawing cash from a 2-way Bitcoin ATM is easy: simply log in to your account on the machine, select the “Withdraw Cash” option, and enter the amount you wish to take out. If the ATM doesn’t have this option available, it probably doesn’t support selling Bitcoin – so make sure to check before trying to use it. When you’ve initiated the withdrawal, send Bitcoin to the wallet address indicated by the QR code onscreen, and you’ll be good to go!