Everything You Need to Know About Bitcoin ATM Machines

Everything You Need to Know About Bitcoin ATM Machines

Whether you’re having trouble locating a Bitcoin ATM or want to know more about them, you’re at the right place. Also known as a Bitcoin Teller Machine (BTM), a Bitcoin ATM looks like a kiosk and allows you to buy digital currencies especially Bitcoin by using debit card or fiat currency. There’re two main types of ATM machines available on the market: BTC ATMs and Bitcoin Cash Kiosks. The majority of Bitcoin ATMs installed all over the world support only buying feature; however, there’re some models that support two-way operations (both buying and selling BTC) as well. If you’re planning to sell Bitcoin using a Bitcoin ATM, it’s important that you check with operator to see if it supports bi-directional functionality.

How Can You Use a Bitcoin ATM?

Bitcoin ATMs can be used to perform a number of activities: buying, selling and sending Bitcoin. Although the procedure of using a BTM may vary from machine to machine, the main steps remain similar.  To buy Bitcoin using a Bitcoin ATM, you’ll need to:

  • Choose a language
  • Press ‘’Start’’
  • Provide your mobile number
  • Enter the validation code
  • Choose ‘’Buy Bitcoins’’
  • Select whether you already own a Bitcoin Wallet (Yes – Scan it Later : No – Generate & Print New One)
  • Scan the QR code

It’s simple and easy, isn’t it? Wondering where can you find these ATMs? It’s simple; all you need is to Google ‘’Bitcoin ATMs Map’’ or ‘’Bitcoin ATM Near Me’’.

Are Bitcoin ATMs Anonymous? Are Bitcoin ATMs Safe?

Yes, the majority of Bitcoin ATMs installed all over the world are anonymous. As they aren’t linked to your bank accounts, the chances of you being tracked by anyone are minute. So, you can fully rest assured that nothing wrong will happen to you after using Bitcoin ATM.

How Much Does the Bitcoin ATM Machine Charge?

A Bitcoin ATM typically charges a percentage instead of a flat fee, like most bank ATMs. The majority of BTMs charge an average transaction fee of 8.93%.

Do BTC ATMs Require ID?

While the trend of BTMs isn’t very prevalent, it’s still one of the best ways to buy BTC without an ID. Some machines don’t require you to go through any identification process. Users can simply purchase BTC from such ATMs using fiat currencies.

How Many Crypto ATMs Are There in The World?

Bitcoin ATMs are installed in different countries all over the world. You can use a Bitcoin ATM map to locate BTMs near you.  The following countries are ranked among those with the highest number of Bitcoin ATM locations: United States (2919 BTM locations), Canada (688 BTM locations), United Kingdom (234 BTM locations), and more.

How you look at this? Have something interesting to share with us? Please feel free to let us know your views in the comment box below.

Which Cryptocurrencies Are Supported at Bitcoin ATMs?

The world of cryptocurrencies has continued to grow exponentially since inception, and everyday more people are joining the cryptocurrency community, as they have begun to adopt digital assets for different purposes. Because of the unprecedented increase in number of cryptocurrency users, some exchanges have not been able to cope with the influx and demands of crypto users, and the need to source for alternatives came up. LocalBitcoin has been a very good alternative to crypto exchanges for a while, however, there is another effective alternative- Bitcoin ATMs.

Over time, Bitcoin ATMs have proven to be a very efficient and effective way of performing Bitcoin transactions, and if more Bitcoin ATMs are cited in different parts of the world like the regular ATMs, it has the tendency to speed up the mass adoption of the digital asset, which in turn will be a welcome development for all.

A lot of people think that because it is called “Bitcoin ATM”, it is just for Bitcoin transactions, and this is entirely true, because more than half the Bitcoin ATMs available support other coins, hence, you can use them to purchase other cryptocurrencies other than Bitcoins, however, it is important to note that there are limited options when it comes to the number of cryptocurrencies that can be bought on such ATMs. Here are some of the cryptocurrencies supported by Bitcoin ATMs:

  • Ethereum
  • Litecoin
  • Bitcoin Cash
  • Monero
  • Dogecoin
  • Zcash
  • Dash

For crypto investors looking to invest in other coins, it is a good move, and with the coins mentioned above, they can diversify their portfolios if they so please.

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One question that may popup is “If there are more than 1600 different cryptocurrencies in the world, why do the ATMs support only 8 cryptocurrencies?” It is a valid question, but we also need to understand that the technology is new, and just as exchanges started with only few cryptocurrencies before adding more, Bitcoin ATMs will not be the way they are at the moment, as there will be improvements, and there will be the gradual addition of more cryptocurrencies. Furthermore, the mass adoption of cryptocurrencies will play a huge role, because more Bitcoin ATMs will have to be set up to make for easy access to crypto trades, and this will invariably lead to an increase in support for more cryptocurrencies.

The process of using the Bitcoin ATM for any transaction involves simple steps, and it does not matter the type of cryptocurrency you are buying, the processes are simple. So assuming you do not want to purchase Bitcoins, but want to opt for a different coin, you can do that easily by choosing from the list of supported coins, inputting your phone number, inputting the verification code sent to you, scanning the QR code of the Bitcoin address you intend to send the Bitcoins to, and confirming the transaction in order for it to execute and do the deposits. It’s really that simple.

Reference:

How to Use a Bitcoin ATM

How to Find a Bitcoin ATM Near You

We cannot help but marvel at how well Bitcoin and other cryptocurrencies have performed since inception, and it is clear that contrary to the opinion of critics in times past, Bitcoins and other cryptocurrencies do not look like they are leaving anytime soon.

A lot of people began to show interest in cryptocurrencies, which led to an increase in demand for cryptocurrencies, and because a lot of exchanges could not handle the traffic, they had to shut down temporarily. Businesses had to continue, crypto investors still needed to trade, and that led to the search for alternatives for cases when the exchanges were not forthcoming.

In order to deal with the temporary suspension of activities on some of the exchanges, people used other alternatives like LocalBitcoins which is a known name in the world of Bitcoins and cryptocurrencies. That was not the only alternative, as there is another alternative that has continued to gain grounds in different parts of the world- the Bitcoin ATM.

The Bitcoin ATM is a timely innovation that will be of immense benefits to crypto users in different parts of the world, however, the problem is that finding one near you may be a tedious task, and that is why this post was created, to help you help you locate the Bitcoin ATM near you.

Using the Bitcoin ATM is quite easy, all you need to do is have fiat currency to make payments for the Bitcoins, and then you can have it transferred to an address or wallet in very simple steps.

The Bitcoin ATM near You

Different tools and websites have been created to help people locate the nearest Bitcoin ATM near them, and here are some of the services that you can rely on to help you.

This is a map of bitcoin ATM machines across the world. Coin ATM Finder can be used to locate the nearest crypto ATM or to explore different BTMs around the world. Find the nearest bitcoin ATM now!

This is a service that was created to identify Bitcoin ATMs in different locations. With the website you will be able to locate Bitcoin ATMs around you. Furthermore, the service is also available in the form of a mobile app on iOS and Android platforms, hence, you can look up any Bitcoin ATM that may be in proximity to you, among other features like:

  • Bitcoin ATM map
  • Limits and fees of each Bitcoin ATM
  • Directions from your current location to the Bitcoin ATM
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With the Coin ATM Radar platform, you can check the nearest location of Bitcoin ATMs in the world; search by country, by your address, or by cryptocurrency.

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This is another good Bitcoin ATM locator service; however, its operation is limited to only Bitcoin ATMs in Australia. It also allows users drop reviews about the Bitcoin ATMs, and submit new locations of Bitcoin ATMs.

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The service can also help with sorting of the ATMs in order to get the machines that offer lower transaction fees, and higher daily limits.

The world of technological innovations is always evolving, and hopefully there will be as much Bitcoin ATMs in the future, as there are fiat currency ATMs in the world.

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