A Bitcoin ATM (automatic teller machine) is a kiosk that allows the exchange of Bitcoin or Alts for cash.
All Bitcoin ATMs sell Bitcoins and some Bitcoin ATMs also buy 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.
How much fee will you pay using a Bitcoin ATM?
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. When you are using a specific machine read the instructions before you make the buy, it usually contain all of the info, including the fee.
How do you actually buy the coins
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.
How do you locate a bitcoin ATM
Here are two leading sites that can help you locate a Bitcoin ATM near your location:
coinatmradar Bitcoin ATMs map
This is another Bitcoin ATM location map service. A map configuration can show you a variety of things including the fee %, location, nearby amenities, type of machine, and type of transaction. You can also add information about any of the ATMs.
A comprehensive list of all Bitcoin ATM Manufacturers:
GENERAL BYTES is the world’s largest Bitcoin, Blockchain and Cryptocurrency ATM manufacturer. Based in Prague, Czech Republic and Bradenton, Florida, USA, they sell a range of Bitcoin and cryptocurrency products.
Genesis is a leading provider of “autonomous vending solutions for the digital asset space”. To purchase a Genesis machine you simply fill a form on the websites home page.
Lamassu machines are manufactured in Portugal. The company has four ATM models: Sintra, Sintra Forte, Gaia and Douro II. The smallest machine weigh 25 kgs and can be wall-mounted or table-mounted. read full review here.
Bitaccess sell “Physical kiosks” / Bitcoin ATMs. The company’s two models are BTM C and BTM SE. they feture a Buy & Sell option (Two-way), up to 1200 notes cashbox, a 19” Touchscreen, QR Scanner and Thermal Printer for receipts / Paper Wallets. Included with the machine is ongoing software updates, an online dashboard and phone & email support.
Remember that it’s not safe to leave large sums of money on any cryptocurrency exchange. That means you are leaving your money in someone else’s wallet. The best choice is a hardware wallet such as Trezor or Ledger. Click here to read our Guide to Bitcoin and Altcoins wallets 2019.