Best Way to Explain How to Use a Bitcoin ATM

Bitcoin ATM, it is an electronic machine, installed in a physical location, that facilitates the exchange of cash for cryptocurrency worldwide.
Usually set up as a small kiosk with a screen interface, a Bitcoin ATM offers a convenient way to transact Bitcoin (BTC). Using one is similar to using a traditional ATM machine to access a bank account.
Not all Bitcoin ATMs are alike: some models allow you to convert your Bitcoin into fiat currency in order to withdraw cash, while others allow investors to insert cash to buy Bitcoin.
In all cases, Bitcoin-fiat exchange rates rely on the current market rate for Bitcoin (BTC), but with an added commission (ATM fees) charged by the ATM operator on average, 8.4%.

Some Bitcoin ATMs provide a two-way service, allowing investors to both buy and to sell Bitcoin or other major cryptocurrencies such as Ethereum (ETH), Bitcoin Cash (BCH) or Litecoin.

How to Use a Bitcoin ATM to Buy or Sell Bitcoin: A Step-by-Step

How to use a Bitcoin ATM to buy Bitcoin requires you to scan the QR code of your Bitcoin wallet using the ATM’s scanner. This gives the machine information about your Bitcoin address or other cryptocurrency wallet address.
Some machines will require you to enter your phone number to receive a verification code, and/or to show an official ID to comply with KYC and AML rules.
You will need to type in the amount of BTC you wish to buy: in some cases, a machine will give you a printed receipt for you to double check before proceeding to the actual transaction.

Once that’s done, you insert cash bills and wait for the transaction to be confirmed on the blockchain.
Selling Bitcoin using a Bitcoin ATM usually requires you to send your Bitcoin to a wallet address given by the Bitcoin ATM through a QR code. For Bitcoin sales, you will either receive your cash immediately or have to wait for a redeem code while the transaction is confirmed on the blockchain.

How to Find Bitcoin ATM Near Me

There are ATMs that support Ether, Litecoin, Zcash, Monero, Ripple, Dogecoin (to name a few). You can find out more information like (ATM location, transaction fees, which cryptocurrencies are supported) from well knowing https://coinatmradar.com/bitcoin-atm-near-me/