What is Bitcoin?
The cryptocurrency world is becoming more popular in recent times. Many people want to purchase cryptocurrencies to invest their future in the right path. Even though many crypto are accessible, bitcoins are extremely popular among investors and traders. Whether you wish to Buy or Sell Bitcoin, you can now use a Bitcoin ATM. Are you thinking about How to Sell Bitcoin Using ATM? Read the following section carefully.
The bitcoin ATM is much similar to the regular ATM. But, it transacts the bitcoin instead of fiat currency. In simple words, it is the electronic machine installed in the physical machine. It provides the exchange of cash for cryptocurrency. In general, a bitcoin ATM is set up as a small kiosk with a user-friendly screen interface. It renders a convenient and efficient way to transact bitcoins.
Even though it looks like the regular ATM and does the transaction similarly, not all the bitcoin ATMs are similar. You will find different types of bitcoin ATMs throughout the world. You should know the right way to access them to complete the purchase or sell task. Most importantly, specific models allow you to convert the bitcoin into fiat currency to withdraw the cash. On the other hand, other machines let you insert cash to purchase bitcoin.
In all aspects, bitcoin-fiat exchange relies on the bitcoin’s current market rate. However, the ATM operator will charge the ATM fees about 8.4% on average. Certain bitcoin ATMs render the two-way service, which means you will purchase and sell bitcoin or other cryptos such as Bitcoin Cash and Litecoin. So, you should check the model of a bitcoin ATM before looking for the solution to a query.
How to Find Bitcoin ATM Machine Near Me?
In a very rare case, you will find ATMs with or with the ATM fees that support bitcoin and other crypto debit cards to withdraw the cash. But, bitcoin ATMs usually accept cash as the primary means of purchasing. You can use this option to invest or trade bitcoins, but selling is impossible. Even after knowing these things, are you still thinking about How to Sell Bitcoin Using ATM? Scroll down your eyes.
How to Sell Bitcoin Using ATM?
Are you often thinking about How to Sell Bitcoin Using ATM? Are you wondering whether the procedure differs from one machine to another? Regardless of the type of bitcoin ATM, you should follow this procedure to sell the bitcoin. But, there is a slight variation among the bitcoin ATM types.
- The first step in accessing the bitcoin ATM is the verification step. Usually, the operator will need you to identify yourself for the selling operation. But, the identification may differ for various machine types or operators. So, you should check the verification method of the machine that you wish to access beforehand to avoid hassles.
- Define the amount of bitcoin you wish to sell. Then, use the Bitcoin ATM QR code to send the bitcoins to the specified address safely.
- According to the settings, you have to wait for the bitcoin transaction confirmation whether you get cash out of the machine quickly or redeem the code. The number of confirmations may vary based on the machine you work with. It is often decided based on the amount of bitcoin you entered to sell.
- That’s enough! The selling process is completed, and gets the cash and receipt.
As said earlier, not all the bitcoin ATMs support two-way operations. But, many ATMs still allow you to purchase bitcoins without any compromise. As soon as you decide to sell the bitcoin you hold in your wallet, you should visit the bitcoin ATM map to locate the ATM that performs the selling transaction smoothly and effectively. In the below section, you will learn about the types of bitcoin machine support sell operations.
Robocoin:
It is the first two-way bitcoin ATM type installed in several countries. But, it has received too many complaints from the users because of its complicated purchasing and selling bitcoin procedure due to its biometric palm vein scanner and complicated registration procedure.
The company has recently announced that they plan to remove the palm vein scanner. In addition, the company makes the use of Robocoin’s proprietary wallet mandatory. It means customers can now store their funds at Robocoin.
Even though the Robocoin bitcoin ATM producer has shut down activity, several Robocoin type kiosks are still installed at different locations. Most machines are switched to different software, and the UI of the selling bitcoin process is also changed even it looks the same.
If you think of using the Robotcoin kiosk, you must understand that the software may differ even on the same hardware. Thus, the whole process will look different. You should create the wallet at Robocoin before setting your bitcoins at Robocoin. Next, transfer the bitcoins to your wallet. Here are the steps to follow.
- Log in to your wallet
- Click on the receive button on the screen
- You will get the QR code for depositing the bitcoins
- Then, send the bitcoins to the specific address
- Wait until you get six confirmations
Now, it is time to sell the bitcoins. Once the fund reaches your Robocoin wallet, sign to Robocoin ATM and provide the phone, PIN, or verification code. Choose the withdraw button, select the cash amount you wish to withdraw, and tap finish.
You will get the receipt and cash quickly. Keep in mind that if you have funds in your wallet already, the selling process will be quick. Or else, you have to wait for about 1hour to complete the bitcoin transfer.
BitAccess
Another popular bitcoin ATM is BitAccess. It supports selling bitcoin operations, and thus many crypto users prefer this ATM. Here is the procedure to follow to exchange bitcoins for cash.
- Reach the BitAccess ATM nearby your location
- Give your mobile number
- Enter the verification code you received
- Select sell bitcoin button
- Enter the required amount
- Send the bitcoins to the given address QR code
- Obtain the cash and print the receipt
So, the entire procedure is straightforward to follow. You can do it easily upon reaching the right BitAccess ATM.
General Bytes BATM Three bitcoin ATM
You have two different types of bitcoin ATMs from General types such as BATM two (one-way) and BATM Three (two-way). If you want to sell the bitcoins at this machine, you should follow these procedures.
- Choose sell bitcoins on the menu.
- Enter the amount of bitcoins to sell
- Different verification procedures may apply based on the amount, such as fingerprint scan, mobile check through SMS, and no checks. Check this before using the BTC ATM Machine.
- Now, you get the receipt containing the bitcoin address where the specific amount of bitcoin is to be sent.
- The redeem code will attach with the same QR code. You can use it later for obtaining cash from the bitcoin ATM.
- It is time to send the bitcoins to the given address. Based on how many confirmations are required to complete the transaction, you should wait.
- Then, reached the machine and tap redeem ticket option. It begins and scans the same QR code from the receipt. That’s enough! You will get the cash quickly.
Benefits of Accessing Bitcoin ATM to Buy and Sell
As per the market predictions, the bitcoin ATM market will increase its net worth in the upcoming years because there is a massive rise in bitcoin ATM usage. Investors and traders wish to use this machine after understanding the benefits of accessing bitcoin ATMs. One can use this machine to purchase and sell bitcoins as per their requirements. Besides, it does not have many good things, and some are listed here.
- Even though bitcoin is designed to be a secure, private and decentralized unit of exchange, the use of bitcoin ATM to perform transactions is something more secure. It renders the ultimate and excellent financial privacy. If you use a bitcoin ATM, you should provide identity proof, and thus it is more private than other cash-out methods.
- Bitcoin ATMs are entirely secure and safe. It is tamper-proof and run by the local operators. So, there is nothing to worry and stress a lot.
- It acts as the instant way to purchase and sell bitcoins apart from being highly secure. Once your account and transaction are approved, you will make a purchase or sell task easily.
- You do not need to be tech-savvy to use the bitcoin ATM. It is effortless to use as it resembles the regular ATM. Following the instruction and putting the right value is enough in most cases.
Now, you get the appropriate solution for – How to Sell Bitcoin Using ATM? You can now use the right machine accessible nearby your location to Sell Bitcoin quickly and trouble-free. If you have any doubt, you can explore more on the web.