close
Investment

How to Use a Cryptocurrency ATM Machine

Cryptocurrency ATM machines are becoming more mainstream and are starting to pop up at more and more locations. One of the questions you may have about this is where to find bitcoin ATMs near me, but before you ponder this question, one of the first questions you should be asking is how exactly you cause a cryptocurrency ATM machine. While these machines are fairly similar to traditional ATMs, they are also slightly different. Here is the information you need to know about using this type of machine.

Setting Up a Mobile or Paper Wallet

Once you are standing in front of bitcoin ATMs near me, the very first thing that you will need to do is to create a mobile or paper wallet. This wallet is either on your phone or on a piece of paper. It includes your personal information, such as your name, your ID information, and any information about any Bitcoin or cryptocurrency you may already own. This wallet is where any cryptocurrency you buy is going to be placed and where any cryptocurrency you sell is going to be pulled from. It is important to know that the account does need to be created at an ATM machine and cannot be created ahead of time.

Processing a Transaction

After setting up a mobile or paper wallet, bitcoin ATMs near me will ask you to scan a QR code with your phone or input your paper information into the system. The system will then ask you if you are purchasing cryptocurrency or selling. If you are selling, the machine will ask you how much you are selling and dispense money to you. If you are buying, you will be asked to input money into the machine to cover the cost of the transaction. It is important to note that ATM machines take cash, not credit card or debit card, so come prepared.

Finishing Your Transaction

Once your transaction has been processed, you will receive a paper receipt jus like you would from a normal ATM machine. It is important that you hold on to this receipt in case there is a discrepancy with your account. Being able to show that you bought cryptocurrency that never showed up in your account can be invaluable. It is recommended that you hold on to the receipts until the transaction posts in your mobile wallet.

Now that you know how to use a cryptocurrency ATM machine, you can now figure out where bitcoin ATMs near me exist. One of the easiest ways to determine where a cryptocurrency ATM machine is located is to click on the above link and input your information. This will help you see whether any cryptocurrency ATM machines exist near you or whether any are coming soon. It is important to note that ATMs are still relatively new, and are still being placed. As such, continue checking the link if there is not an ATM located close to your current location.