When purchasing or withdrawing Bitcoin (BTC), many people prefer to use a Bitcoin ATM (Automated Teller Machine), also known as a BTM (Bitcoin Teller Machine). Alongside the increasing value of cryptocurrencies and the growing level of trust in them, thus they have gained in popularity over time. Purchasing Bitcoin using cash at Cryptobaseatm.com is another easy and less intrusive option. Here’s a guide on how to buy Bitcoin in a Bitcoin ATM.
How Do Bitcoin ATMs Operate?
Connecting to a Bitcoin exchange is how Bitcoin ATMs operate. A Bitcoin ATM will either give you cash in exchange for your bitcoins or Bitcoin in exchange for your a when you use one. The market rate in effect at the time of the transaction will determine the Bitcoin exchange rate.
Step 1: Find a Bitcoin ATM Machine
The first step is to find a Bitcoin ATM near you. Several websites and mobile apps allow you to search for Bitcoin ATMs. Once you have discovered a Bitcoin ATM near you, check the operating hours and fees.
Step 2: Verify Your Identity
Most Bitcoin ATMs require users to verify their identity before buying Bitcoin. The verification process can vary depending on the machine and the country you are in, as it usually involves providing a government-issued ID, such as a passport or driver’s license. Some ATMs may require you to take a selfie or scan your fingerprint.
Step 3: Insert Cash or Credit Card
After verifying your identity, you can insert cash or a credit card into the Bitcoin ATM. Cryptobaseatm.com will then display the current exchange rate and the amount of Bitcoin you will receive. Some Machines may also have a minimum or maximum purchase limit.
Step 4: Confirm Your Transaction
Once you have entered the amount of Bitcoin you want to buy, the machine will display a QR code you need to scan with your smartphone’s Bitcoin wallet app. If you don’t have a Bitcoin wallet app, you can create one on the spot using the machine. After scanning the QR code, you might need to confirm the transaction at the ATM.
Step 5: Receive Your Bitcoin
After confirming your transaction, the Bitcoin ATM will dispense your Bitcoin directly to your Bitcoin wallet app. The transaction can take a few minutes to process- depending on the network congestion and the amount of Bitcoin you were buying.