Bitcoin users daily buy and sell bitcoin because there are a lot of platforms for buying and selling. There are a lot of exchanges where we can buy and sell bitcoin (learn more – cryptoengine.app), various bitcoin wallets such as web wallets, mobile wallets, offline wallets, and exchange wallets. You can use blockchain in a built wallet for safe and secure transactions. But the question arises, can we buy bitcoin through ATMs, and if yes, then how? It sounds crazy that you can buy bitcoin through ATMs. Bitcoin ATMs are made explicitly for bitcoin transactions. You can indeed purchase bitcoin through bitcoin ATMs, and we will learn how you can buy bitcoin through ATM? So, without wasting time, let’s understand the process of buying through a bitcoin ATM.
What are bitcoin ATMs?
Before going further in buying, we have to learn how bitcoin ATMs work and how these ATMs came into existence. Bitcoin ATMs are similar to traditional ATMs we use in our daily transactions. For example, we use bank ATMs that provide us many services to withdraw or deposit fiat currency, and we can transfer funds, check the balance and do many things with ATMs. But bitcoin ATMs are made explicitly for buying and selling bitcoins. You can buy bitcoins or sell bitcoin in exchange for fiat currency.
Bitcoin ATMs came into existence because people were facing many problems in buying and selling bitcoins. People get trouble depositing fiat currency on exchanges. Some exchanges do not support payment methods or banks. So, to solve these problems, bitcoin ATMs came into existence. Now you can sell and buy bitcoin in exchange for fiat currency or cash with just a simple click in a few minutes.
Bitcoin ATMs location:
Many Bitcoin ATMs are available in various locations, but bitcoin ATMs are not available in some places. Most of the bitcoin ATMs are available in urban states and urban cities because people are aware of bitcoin technology and use bitcoin ATMs for buying and selling. But bitcoin ATMs are not available in villages or small towns. You can search on Google “bitcoin atm near me,” and Google will show you all the possible bitcoins. Most of the bitcoin ATMs are in malls or supermarkets. You will not find these ATMs on the road like other banks or traditional ATMs.
The process of buying bitcoin through ATM:
There are the following steps to buy bitcoin through bitcoin ATMs given below:
- There are various bitcoin wallets available on the internet. You can choose web wallets, mobile wallets, offline wallets such as paper or hardware wallets, and exchange wallets. People mainly exchange wallets for easy transactions, and you can also choose another wallet like blockchain to build a wallet. If you want to go with an exchange, first create your account on the exchange website by filling in your personal information—complete KYC to grab more exchange features. Now the first step is completed because you have a wallet where you can store your bitcoins.
- Visit the bitcoin ATM near you and choose the cryptocurrency you want to buy since we wish to bitcoin, then click on bitcoin.
- There will be two options on the screen of the ATM: – 1) Buy and 2) Sell. You want to buy bitcoin, then click on the buy button.
- Step two or three may be up or down in different ATMs. So do not worry about that. The ATM will display the QR code, and you have to scan that code with your bitcoin wallet.
- Open your mobile phone and open the exchange wallet if you are using an exchange service. Search for bitcoin and click on the deposit button in the app and if you are using a blockchain wallet or other wallet, click on the receive button. You can fill in the address or scan the QR code displayed on the bitcoin ATM. Scan that code.
- Fill in the amount of bitcoin you want to buy, or you can also fill the amount in fiat currency and automatically calculate the bitcoin amount. The ATM will display you the charges or fees for the transactions. If you agree, then click on the buy button or place your order.
- ATMs deposit places will open. Put your cash into the ATM and wait for a minute. It will take time for the process. Now all is done.
- Every transaction will take up to 10 minutes to validate a transaction. So, check your bitcoin wallet after ten minutes, or it will take more time in some cases.
So, you can buy bitcoin through bitcoin ATMs in a few simple steps.