Have you heard about bitcoins? Well, if not, you are missing out! It’s undeniable that bitcoin is the most popular cryptocurrency today.

Getting the exact number of active bitcoin users is quite hard. But, at this moment, the estimated users of bitcoins are around 30 million users.

Bitcoins are digital money. So, you might be wondering, how can I convert my real-time cash to bitcoins? There are many ways to do it, and one of those is using bitcoin ATMs.

Do you want to know more about bitcoin ATMs and how to use it? Read this guide and learn about bitcoin ATMs now!

What Is a Bitcoin ATM?

Like traditional ATMs, bitcoin ATMs or BTMs enable you to buy, sell, or send cash. But the difference is that BTMs transact in your digital wallet.

There are approximately 14,000 BTMs around the world. It’s still small-scaled compared to the number of traditional ATMs today.

There are two types of bitcoin ATMs, unidirectional machines and bi-directional machines. Unidirectional only allows either buying or selling cryptos. On the other hand, bi-directional allows both buying and selling.

BTMs connect to the internet to allow the exchange of crypto to cash and vice versa. Although cryptocurrency does not involve banking institutions, laws and regulations still apply.

How to Use a Bitcoin ATM?

Before using a BTM, you need to have a digital wallet first. Wallets are where the money goes. It also stores all your cryptocurrency, including NFTs.

There are many crypto wallets available that you can choose from. You can choose whether to use an online digital wallet, a soft wallet, or a hardware wallet. After setting up your wallet, you can proceed to the next steps.

These steps are the following:

Find the Closest Bitcoin ATM

One way of finding a bitcoin atm location is using this map. All you need is to type in your zip code. Then it will give you a list of bitcoin ATM locations near you.

Verify Your Identity

For identification purposes, you need to set up your account. BTM will ask you for your personal information, like your phone number. Your phone number will receive a verification code before it allows you to transact.

Scan Your QR Code

After that, you need to access your digital wallet. It will help the machine know where to send and deposit your bitcoin.

Insert Your Money

Put your desired amount of money on the BTM. Then, it will let you know how much is its value in bitcoin.

Confirm Your Transaction

Don’t forget to double-check everything before confirming. The process might take up minutes, depending on the BTM. So, don’t worry if it doesn’t reflect in your digital wallet immediately.

These are the basic steps in using a BTM. You can also sell and send cash using these steps. Make sure to follow the prompts in the machine with care.

Use Bitcoin ATMs Now

Bitcoins are becoming more and more common today. Thus, using bitcoin ATMs makes your life more convenient.

It also gives you peace of mind and ensures your safety. But remember, BTMs usually have high fees, so be ready when using one.

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