A Bitcoin ATM (automatic teller machine) is a kiosk that allows the exchange of Bitcoin or Alts for cash. Some Bitcoin ATMs also allow selling Bitcoins. Bitcoin ATMs are not ATMs in the traditional sense, they do not connect to any bank account but directly to a Bitcoin exchange, for the price quotes.
These are the main types of Bitcoin ATMs available in the market:
- Genesis1 Bitcoin ATM
- Satoshi1 Bitcoin ATM
- Satoshi2 Bitcoin ATM
- Lamassu Bitcoin ATM
- Lamassu with Santo Tirso
- BATM2 Bitcoin ATM
- BATM3 Bitcoin ATM
- BitAccess Bitcoin ATM
- BitXatm Bitcoin machine
- Robocoin kiosk
- Skyhook bitcoin machine
How do you actualy buy the coin
A Bitcoin ATM is the fastest way to buy (and sell) bitcoins, and the process can be completed in minutes. Almost all ATMs have the same basic process:
- You scan the QR code of your Bitcoin address.
- You feed bank notes into the machine.
- You click Send and wait for the Bitcoin to appear on your wallet address.
Using a Bitcoin ATM is without doubt a very easy way to buy bitcoins, but not the cheapest one. The average ATM charges a fee of 5-10%. that is the price of privacy since most don’t require verification.
Here are two leading sites that can help you locate a Bitcoin ATM near your location:
CoinATMRadar, a website that compares more then 3500 ATMs worldwide. The ATMs on CoinATMRadar are displaid on a map, Each one with its own features. Read the full review.
Don’t forget to get a wallet – Keep your coins safe!
It is strongly advised not to store your cryptocurrency on an exchange, only on a dedicated wallet that you own. Here you can read more about what is a Bitcoin Wallet.