Learn a three-step procedure to get digital cash from a Bitcoin ATM

If you want to use a Bitcoin ATM, then you need to know how it works. And luckily it is easy to use when you know how!

When buying and selling cryptocurrencies like Bitcoin it is important to use a trusted platform like this trading platform. If you want to use a Bitcoin ATM machine then first you will need a digital wallet as it is essential for buying and selling digital currencies.

You also need to make sure that you read all the terms and conditions before making a transaction. All machines have different rules, which means you should check each one before making your first withdrawal or payment using it.

It’s also important to check the fees the Bitcoin ATM will charge. Every machine will make a charge, and these can vary greatly. Some can be as high as 30%, so it’s worth doing your homework before handing over your money!

Once you have covered off these three points – acquiring a digital wallet, reading the terms and conditions and checking the charges of the specific ATM you wish to use – you are ready to go. Bitcoin ATMs are refreshingly easy to use, and to help you we share the steps you need to take in this article.

Step 1

The first step you need to take is, as mentioned, to acquire a digital wallet and find an ATM to use. Without a digital wallet you cannot use a Bitcoin ATM so it’s an essential step. (Your digital wallet will let the Bitcoin ATM know where to deliver your digital coin.)

Once you have a digital wallet you can search online to find your nearest Bitcoin ATM. Remember to do your research, and read both the terms and conditions related to this specific machine, and the fee they charge. It’s worth benchmarking their fees against that charged by other machines to ensure you are being charged a reasonable amount, and not paying over the odds.

Step 2

The next step is to physically visit your chosen Bitcoin ATM. When you do, you will need to verify your identity. This process is easy. All Bitcoin ATMs have different terms and conditions, and you will always need to go a the verification process before you can use the machine. 

Most Bitcoin ATMs will use the OTP system, in which when you enter your mobile number and get an access code sent to you. The code is mandatory, and it is necessary for security purposes. It is usually a quick and easy process.

Step 3

The final step is also simple. You will need to scan the QR code of your digital wallet, enter the amount of digital cash you want to buy, and insert cash to complete the process. Once the transaction is complete you will receive a receipt. Don’t forget to collect this from the machine!

Using a Bitcoin ATM is quick and easy

Once you know how they work, using a Bitcoin ATM is conveniently quick and easy. And for many people they are a convenient way to manage their cryptocurrency.