Few have heard of ATMs through which it is possible to buy #bitcoin. Most people are used to buying #cryptocurrency online – it’s fast, convenient and safe. But what if you need to transfer cash to BTC?
For those who love cash, there are special ATMs through which you can purchase cryptocurrency.
Bitcoin ATM, or as it is called abbreviated as BATM, is a terminal that resembles in its appearance the terminals of regular banks. They are connected to the internet and allow the user to deposit cash or credit card. Their peculiarity is that they do not connect to a bank account, but directly direct the client to a cryptocurrency exchange, where a person already purchases #altcoins or btc for the required amount. Plus, the user remains completely anonymous. Some terminals have the functionality to both buy cryptocurrency and sell it for cash.
All of this sounds great, but where can you find these ATMs? There are about 16,835 in the world.
- USA – 13,699
- Canada – 1262
- Europe – 1273
- Hong Kong – 85
- Russia – 53
- Colombia – 46
Terminals can be found using Coin ATM Radar. You also need to install a Bitcoin wallet on your mobile device in advance.
How to use an ATM?
- click on the terminal screen
- the ATM will ask how much bitcoin or other altcoins you want to buy
- enter your mobile phone number – a confirmation sms will be sent
- BATM should ask where to send bitcoin or #altcoin. To do this, you need to know the wallet address. You can also use the QR code that appears in the wallet. At this step, you need to be careful. Carefully check the wallet address so as not to accidentally send it to someone else.
- After you have entered the wallet address or scanned the QR code, the terminal will ask you to double-confirm the address in the wallet.
- The next step is depositing cash into the machine. You need to confirm the action after entering.
- The terminal will offer to print a receipt for your transaction.
Popular Bitcoin machine providers: Bitcoin Depot, Bitnovo, Cryptospace, Genesis, etc.
Everything is not as difficult as it might seem, the more people use machines, the more they will be installed around the world. We hope this article was helpful to you.
Read more articles about #crypto on our blog.