Learning to use a Bitcoin ATM

Posted By | 27 September, 2023

Using a Bitcoin ATM is very similar to a regular banking ATM, but there are a few things to know.

If you are a beginner, the process of using a Bitcoin ATM is very easy.

There are two types of Bitcoin ATMs:

(a) One-Way / Unidirectional — These machines let you purchase OR sell cryptocurrency, but not both. The most common type is to purchase.

(b) Two-Way / Bidirectional — These machines let you purchase AND sell cryptocurrency.

The basic steps for using a Bitcoin ATM are:

1) Enter your Cell Phone Number. This usually sends a one-time code to verify your physical presence at the machine.

2) Select cryptocurrency or fiat that you wish to buy or sell.

3) Verify your identity. This is often required for larger transactions.

4) Scan a Digital Wallet QR Code, or enter the wallet address.

5) Confirm the amount, finalize the transaction, and get a receipt. Save the receipt.

The ATM receipt will often display a Customer Support number to call or text if you need any assistance.