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bitcoin $87959.907984 USD
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-2.87%
how bitcoin atm machine works
To buy Bitcoin from a Bitcoin ATM, find a nearby ATM using an online directory, verify your identity, select "Buy," input the desired amount in cash, and receive a QR code or wallet address to store your purchased Bitcoin.
Oct 08, 2024 at 09:35 am
- Use online directories such as Coin ATM Radar to locate an ATM near you.
- Most ATMs require ID verification for security purposes. Scan your government-issued ID and input personal information.
- Choose between buying or selling Bitcoin.
- Enter the amount of Bitcoin you want to buy or sell in currency or cryptocurrency.
- Insert the amount of cash you wish to spend into the ATM.
- Once the transaction is processed, you will receive a receipt containing a QR code or a wallet address where you can receive your Bitcoin.
- Scan the code with a Bitcoin wallet app to store your coins securely.
- When selling Bitcoin, the ATM will calculate the equivalent amount of cash based on current market rates.
- Collect your cash once the transaction is complete.
- Bitcoin ATM fees vary depending on the operator. Typically, they range from 5% to 10% of the transaction amount.
- Convenience: Purchase or sell Bitcoin quickly and easily without online accounts or exchanges.
- Privacy: No sensitive information is shared with the ATM operator, ensuring anonymity.
- Accessibility: ATMs are located in various public places, providing easy access to Bitcoin.
- Fees: Bitcoin ATM fees can be higher than other methods of buying or selling cryptocurrency.
- Limited Security: ATMs cannot guarantee the security of your coins. It's always recommended to transfer your Bitcoin to a secure wallet after the transaction.
- Fluctuating Rates: Bitcoin prices can fluctuate significantly, affecting the value you receive or pay during the transaction.
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