How to use a Bitcoin ATM [Definitive Guide]

 

One of the features I like most about crypto coins is that they are constantly being reinvented to make them easier to use.

There are fewer and fewer excuses a person can use to avoid investing in digital coins.

Since the first virtual currency came out in 2009, the ways in which you can use these assets as part of your daily life have increased enormously.

A couple of months ago I had the opportunity to travel to Argentina for family reasons, and I finally tried one of the newest elements in the world of crypto coins: the Bitcoin ATMs.

For a couple of years now, some companies that develop technology for crypto coins are creating ATMs that work to make transactions with Bitcoin and also to play on BestBitcoinCasino.org

Of course, these machines are not affiliated with any bank, they only have the support and direct guarantee of the company that manufactures them.

These ATMs offer you the possibility to buy and sell Bitcoins in a simple way or exchange them for cash in case you need it.

The benefits are many, but the greatest of them is that with this new method to make transactions it is not necessary to go to a virtual exchange house to make an operation with crypto currencies.

Using a Bitcoin ATM you can buy and sell your coins only with the address of your digital wallet.

This saves you the whole verification process that an exchange requires and makes the transaction much faster.

The use of these Bitcoin automatic teller machines represents the beginning of a new stage for digital coins, in which anyone can access them and manage them in a freer and simpler way.

For all these reasons in this article I want to explain everything you need to know about Bitcoin ATMs, so you can get the most out of them.

If you haven’t decided to buy Bitcoins or any other crypto currency yet, this may be the ideal time for you to do so.

What is a Bitcoin ATM?

A Bitcoin cashier is like any other automatic cashier in which you can withdraw money with your credit or debit card, only in Bitcoin cashiers you can only operate with Bitcoin coins and cash.

A Bitcoin cashier uses the technology of the chain of blocks to be able to make its exchanges, so that its users can for example buy or sell Bitcoins, or take out the coins they have in cash.

Being such a new technology, there is nothing standardized and each cashier has its own characteristics.

For example, some ATMs only allow you to buy Bitcoins and not withdraw cash from them. These are usually identified with the message “Buy Bitcoin Here”.

Others are bidirectional Bitcoin cashiers, that is, they allow the purchase and sale of Bitcoins.

Unfortunately, to this day, and since this is still a fairly new technology, less than half of Bitcoin ATMs are bidirectional.

How do Bitcoin ATMs work?

The first thing you should know is that Bitcoin ATMs are not very different from conventional ones.

They are designed to make buying and selling Bitcoins easier and more automated than you can do on online platforms.

Bitcoin ATMs were launched only 2 years ago.

Thanks to this and to the fact that many countries are still adapting to the idea of handling digital coins, these machines are not currently available all over the world.

Later I will give you a list with the specific countries in which you can enjoy this technology.

The important thing is that in a very short time these ATMs have spread to many places, which makes you think that very soon they will be available in most countries.

It is important to know that Bitcoin ATMs are not linked to any bank.

You must remember that one of the main characteristics of Bitcoin and of crypto currencies in general is that they do not have an institutional regulation.

In other words, Bitcoin is not dependent on any bank or other financial entity.

Bitcoin ATMs are developed by private companies, which make this product available to the public in exchange for small commissions for each transaction.

Of course, any platform in which you decide to make operations with crypto currencies will require a commission in exchange.

The big difference in this case is that these machines allow transactions to be much faster and more direct.

What do you need to make a trade in a Bitcoin ATM?

Basically all you will need to do your operations in an ATM is your digital wallet.

In this case I recommend that you use a web digital wallet, which is downloadable to your smartphone through an application for iOS or Android.

In order to buy or sell crypto coins, Bitcoin ATMs need to scan the address of your wallet.

For this you need the QR or bar code that this kind of applications can give you very quickly.

In addition to the code you will need to prove your identity, in some cases with your email and password of your purse and in others only with your identity document number or cell phone.

Keep in mind that much of the operation of a Bitcoin ATM will depend directly on the features given by its manufacturer.

This means that not all ATMs work in the same way, even if they all serve the same purpose.

Cashiers demand these requirements (barcode, email, or cell phone number) to make sure that it is really the purse holder who is enhancing the operation.

Once you check the identity on the machine the rest is a piece of cake.

All you have to do is select the type of operation you are going to perform at the ATM.

The types of operations offered by a cashier can also change depending on the manufacturer you are using.

Of course, all cashiers will help you to buy and sell crypto coins, but there are some that for example are able to change your Bitcoin for some other crypto currency like Ethers or Ripples, for example.

The two most common operations in this type of ATMs are buying and selling Bitcoins.

Once you select the type of operation you want to perform all you have to do is follow a few simple steps that I will explain in detail below.

In case you want to buy Bitcoins you need to know that you must have the cash for your operation, otherwise you will not be able to make the purchase.

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Suresh

Suresh is author and owner of way2earning.com. He loves to help people by teaching the ways to make money online with advertising and affiliate programs. He is also passionate about technology and love to write reviews.

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