Bitcoin ATM
What is a Bitcoin ATM?
A Bitcoin ATM, or Bitcoin Automated Teller Machine, is a physical kiosk or terminal that people can use to buy or sell Bitcoin (BTC) using cash or debit cards. Bitcoin ATMs, therefore, provide a convenient way for people to exchange fiat currency for Bitcoin and vice versa without the need for online platforms. People can use a Bitcoin ATM to complete transactions, check cryptocurrency prices, and receive printed receipts or digital confirmations of their transactions.
How does a Bitcoin ATM work?
A Bitcoin ATM (Automated Teller Machine) works similarly to a traditional ATM but is designed specifically for buying or selling Bitcoin and other cryptocurrencies. It allows users to buy or sell Bitcoin with the machine. Please note that depending on the machine settings and regulations in place, identity verification could be required prior to being able to use the Bitcoin ATM. If users want to buy Bitcoin, they can use cash or debit cards to do so. The bought Bitcoin will be sent to their specific Bitcoin wallet address. On the opposite, users can also sell Bitcoin for cash at a Bitcoin ATM. They simply need to specify the amount they would like to sell, send it from their own wallet to the Bitcoin ATM by scanning a QR code. Once the transaction is confirmed, users receive cash in exchange for their Bitcoin.
Where can I find a Bitcoin ATM?
Bitcoin ATMs are typically found in public locations such as shopping malls, convenience stores, or airports, offering accessibility to cryptocurrency enthusiasts and newcomers alike. However, depending on where the person is located, it might be tricky to find a nearby Bitcoin ATM.Did you know that with the Xapo Bank debit card, you can turn every ATM into a Bitcoin ATM? Indeed, the Xapo Bank debit card is directly linked to our members’ BTC wallet. That means that if they don’t have a USD balance, their card transactions will be made with their Bitcoin balance. Therefore, they can easily go to an ATM and withdraw some of their Bitcoin for cash.
Read more about the Xapo Bank debit card.
*The Xapo Card can be used globally. Use these links to read more detailed info on ATM card acceptance and withdrawals, and card cashback.
