Bitcoin is an excellent choice for investors wanting to get into the world of cryptocurrency. It’s a way for you to make a profit off one of the most well-established cryptocurrencies out there.
However, once you’ve started investing in Bitcoin, you probably want to know how to use, it too! So if you’re interested in learning how to invest in Bitcoin and use the profits, Bitcoin ATMs can be a huge help.
Let’s look at what a Bitcoin kiosk is and how you can use it to elevate your day-to-day crypto experience. Then, it’s time to start taking advantage of your new Bitcoin portfolio!
What Are Bitcoin Kiosks?
Before we talk about how to use a Bitcoin ATM, let’s take a quick look at what these machines are. After all, there’s no point in knowing how to use one if you don’t fully understand how it works, right?
Bitcoin ATMs, or BATMs, are just like ATMs for fiat currency, except they allow you to buy and sell Bitcoin. There are a few different ATMs for Bitcoin, so it’s essential to find one that will work for your purpose.
ATMs For Buying BTC
One type of BATM allows you to buy more Bitcoin. You’ll bring cash to the ATM, and you’ll be able to use it to purchase more Bitcoin at the ATM.
These machines will ask you to select how many units of Bitcoin you want to purchase. Then, you’ll insert your fiat currency, and the Bitcoin is to your wallet.
Bitcoin Kiosks For Selling BTC
Other Bitcoin ATM locations will only allow you to sell your Bitcoin. These ATMs will dispense fiat money for you to use in exchange for your newly traded BTC.
At a Bitcoin ATM where you will be selling your coin, you’ll select how much Bitcoin you want to sell. From there, you’ll confirm the sale, and the machine will dispense your cash.
Combination ATMs. These ATMs allow you to both buy and sell Bitcoin. Unfortunately, while these are the most convenient types of BATMs out there, they also tend to be the hardest to come by.
Where Can You Find A Bitcoin Kiosk?
Finding a Bitcoin ATM is relatively straightforward. You can find these machines in a variety of locations, just like a standard automated teller machine.
Typically, you’ll be able to find a Bitcoin ATM in a convenience store, gas station, or grocery store. That makes them convenient and easy for getting your cash out when you’re on the run.
Using an ATM location site can help you find a nearby ATM. These sites show a map where you’re able to search by zip code or municipality so that you can find a BATM in your area.
On these maps, you’ll be able to click on the ATM locations. The pinpoints will provide you with information such as what the BTC is trading for, any additional fees, and what you’re able to do at the ATM location.
Remember, before grabbing your car keys and heading out to the ATM location, you’ll want to grab your photo ID, your cash, and your wallet address. Without those, you won’t be able to complete your transaction.
How Do You Use A Bitcoin ATM?
So, now that you’ve found a nearby Bitcoin ATM and you have your cash in hand, it’s time to head out to the Bitcoin kiosk and complete your transaction.
When you arrive at the Bitcoin ATM, you’ll first need to scan your ID. This simply verifies your identity and proves that you’re a human and aren’t a robot or hacker trying to break into the ATM.
Some machines may also verify your identity by asking for a mobile number and texting you a code. Once you enter the code, you’ll be able to start using the machine following a few simple steps.
Step One: Choose Your Transaction
Once you’ve verified your identity, you’ll come to a screen that lets you select the type of transaction you’d like to complete. For example, you’ll either choose “buy” or “sell” Bitcoin.
Step Two: Scan Your Wallet
Next, the machine will prompt you to scan your wallet. If you bring a printed-out QR code, you can scan this paper wallet to start your transaction. Otherwise, you can scan your wallet directly from your app.
Before moving on to the next step, double-check your wallet’s address. Bitcoin transactions cannot be reversed, so it’s essential to ensure that your BTC is going to the correct location.
Step Three: Select the Amount Of BTC You Want To Trade
After your wallet details are confirmed, a prompt will advise you to choose the amount of Bitcoin you’d like to buy or sell. Of course, you will only be able to sell as much Bitcoin is in your wallet, but there is typically no limit on how much Bitcoin you can purchase.
Step Four: Finalize Your Transaction
To wrap things up, you’ll need to finalize your transaction. For example, if you’re buying Bitcoin, you’ll insert your fiat cash into the machine. The Bitcoin will appear in your wallet within a few hours.
IIf you’re selling Bitcoin, you’ll simply need to select how much you’d like to sell. The machine will then dispense your cash for you, and you will see the Bitcoin leave your wallet.
A Bitcoin Kiosk Can Help You Buy And Sell Bitcoin
Buying and selling Bitcoin can be a long process, but it’s far quicker and easier with a Bitcoin kiosk. You can trade Bitcoin with just a few simple steps at one of these Bitcoin ATMs.
If you want to get started buying or selling Bitcoin at an ATM, check out one of the locations at ByteFederal. We’ve got ATMs all over the country so that you can get access to your BTC when you need it.
Or, if you’re a business and want to install a Bitcoin ATM on your property, we can help there too. So, no matter what you’re looking for, call us today, and we’ll be happy to help you on your crypto journey.