Ready To Cash Out Your Digital Money: Here’s How to Use and Find An Bitcoin ATM Machine

Gone are the days when bitcoin ATMs are seen as a far-fetched reality but that’s not the case today. Now anyone with digital assets in their crypto wallet can convert them into real cash by using Bitcoin ATMs. Similar to any other earlier working digital asset these ATMs work on the same working model and transaction method. However, one bigger difference between both is for the normal transaction you need a bank account but in Bitcoin ATM there is no need for a bank account. But that’s just an overview of Bitcoin. Let’s dig in deep to understand how they work and how they can use these Bitcoin ATMs.

Bitcoin ATMs are a new secure and fast way to get hold of these digital assets and invest in them. The biggest plus point with these ATMs is that they don’t ask about users’ personal information or any other information to complete the buying and selling of Bitcoins. Not only this paper currency can also be used to buy these digital assets. However, this facility might be limited to a few Bitcoin ATMs. If you are interested in bitcoin trading visit nft daily news .

Why might someone be inclined to trade bitcoins from the Bitcoin ATMs? Here are some reasons – Ease of use, speed, highly secure, and transactions without the need for any additional information. Now you know why let’s dive a little deeper into Bitcoin ATMs.

Working of Bitcoin ATM

In a closer look at the Bitcoin ATMs, their work is somewhat similar to any other ATM that can be used to withdraw cash. However, in the case of bitcoin ATMs, there is no need to create a bank account to perform the digital transactions. First, these digital wallets will scan the virtual code to initiate transactions and thereafter move funds from one digital wallet to another Bitcoin wallet.

Users can also use real-world cash to buy Bitcoins. All they have to do is deposit money in the machine and the equivalent amount of the Bitcoin will be transferred to the virtual address provided by the user. Only after the verification via text message can the final stage of the transfer be executed thus adding a layer of security to the transaction.

Associated Fees

There is no doubt that these Bitcoin ATMs are an efficient way to get hold of these digital assets. However, this add-on easiness and efficiency comes with an additional fee also known as transaction fees. Usually, these platforms charge a percentage from 7 to 15 depending upon the amount you are planning to withdraw or deposit. No matter what amount of Bitcoin you are planning to exchange over these ATMs, one thing is clear: you don’t have to worry about security at all.

Different types of Bitcoin ATMs

If you are interested to know about the types of Bitcoin ATMs that are available in the market, then here’s a list for you –

• BitXatm
• Satoshi1 Bitcoin ATM
• Satoshi2 Bitcoin ATM
• Genesis1 Bitcoin ATM
• Skyhook
• Lamassu
• General Bytes
• Robocoin

How to find a Bitcoin ATM near you?

Buy your first BTC from these ATMs, but don’t know how to find one, fret not follow these steps to find and locate Bitcoin ATM near you

Coin ATM Radar is an effective and efficient tool in finding nearby Bitcoin ATMs.

• Visit the website first and click on the “Use my current location”.
• Enter your location and locate the ATM closer to your location.
• Sync with Google maps to find the best route to reach your nearest Bitcoin ATM
• There is an additional option of ‘View Listing’ to see additional details about the Bitcoin ATM such as customer feedback, operational hours, etc.

Follow these above-mentioned steps to find out the nearest Bitcoin ATM.

 

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