How to use a Bitcoin ATM?
Thinking about getting into crypto? Using a Bitcoin ATM is the easiest way to start your first #DeFi journey. In this article, we will explain the most simple and convenient way to buy Bitcoin.
The easiest way to buy Bitcoin with cash
Most people believe that buying Bitcoin is a complicated process, which takes hours of preparation and lots of technical knowledge. However, that’s not true. Did you know there are thousands of Bitcoin ATMs across the United States where you can buy cryptocurrency with cash?
First, let’s explain how a Bitcoin ATM works.
What is a Bitcoin ATM?
A Bitcoin ATM is basically an internet-connected device that allows you to insert or withdraw cash in exchange for Bitcoins by using a digital wallet.
The machine looks just like a regular ATM and is easy to use. It verifies your identity and allows you to scan your wallet’s QR code for completing the selected transaction.
You scan your Bitcoin Wallet QR code so the Bitcoin ATM knows where to send the bitcoin. You then insert the cash and the Bitcoin ATM instantly sends the bitcoin to your wallet. Simple and safe.
Pros of using a Bitcoin ATM
Bitcoin ATMs are currently available in many countries around the world (see here Bitstop’s current location list). Most of them are concentrated in North America and Europe but we’re seeing more and more Bitcoin ATMs pop up in other regions like Australia, Chile, or New Zealand.
Now, let’s look at the pros of using a Bitcoin ATM:
- Fast and easy transaction
- You can buy Bitcoin instantly with cash — no need of different cryptocurrencies or pointless exchanges
- Safe and convenient
- Thousands of Bitstop Bitcoin ATM locations in the US
- Instant. #Buythedip
- Customer phone and email support
- Bitcoin ATMs make you feel extra cool and futuristic (we swear!)
Bitcoin ATMs are perfect for buying Bitcoins locally because they are instant. You don’t have to go through the hassle of waiting days for an ACH to clear to buy from an online exchange. You get your bitcoin instantly.
What should you bring with you before using a Bitcoin ATM?
You need 3 things to start using a Bitcoin ATM.
- Your ID
- Smartphone
- Digital Wallet for Cryptocurrency
Yes, it’s just that simple!
Your ID is needed to verify your identity. All of your Bitcoins are stored in your Crypto Wallet, right on your smartphone for easier access.
When it comes to choosing the right digital wallet for your Bitcoin, we suggest using HODL Wallet on your smartphone. All you need is to download the app from Google Store or Apple store. This wallet is very secure and easy to use.
Step-by-Step Guide: How to use a Bitcoin ATM by Bitstop
- Find the nearest Bitcoin ATM
First, you need to find the Bitcoin ATM closest to you. You can check out Bitstop’s ATM locations and navigate through the map. Most of the machines are placed nearby and are typically open 24 hrs. Don’t forget to bring everything that you need for a successful transaction — your ID, smartphone, and Bitcoin wallet.
2. Tap “Buy Bitcoin”
You’re now in front of the Bitcoin ATM and you’re ready for your first purchase! Start by tapping the “Buy Bitcoin” button on the screen!
3. Enter your phone number
The next step is to write down your phone number by using the touchscreen. Then, hit “Enter”. That way Bitstop can message you a temporary SMS code, needed for the transaction.
4. Enter a temporary pin
You have now received a text with a temporary SMS code. Enter it on the screen and proceed.
5. Set up a secret PIN
Considering you’re a first-time customer, you will need to come up with a 4-digit secret PIN. Remember this code for even easier access in the future!
6. Scan your ID
It’s very important that all users stay safe, that’s why identity verification is a must in the crypto world. For that, you need to scan the barcode at the back of your ID by pointing it at the scanner below the screen.
7. Scan your Bitcoin Wallet
Next, open your Bitcoin Wallet on your smartphone and select “Receive”. Scan the Wallet’s QR Code by pointing it at the same scanner placed below the screen. That’s how the ATM makes sure that your Bitcoin is delivered to the right place, so make sure you’re giving the right information. ONLY USE YOUR OWN BITCOIN WALLET. Never send Bitcoin to someone else’s wallet directly from the Bitcoin ATM.
8. Insert cash
You can now insert your cash. The screen will load your exchange rate. Check the information, review your purchase, and hit “Send to Wallet”.
Congrats! You did it!
You will immediately receive the desired amount of bitcoin right into your HODL wallet! There’s also a receipt that you can print for your records.
Bitstop’s transactions happen instantly. If there’s a higher demand on the Bitcoin Network, your wallet may need up to 30 minutes to show completed purchase. If there are any questions, you can always contact our customer support via email or phone.
If you’re more of a visual learner, you can also watch our step-by-step video tutorial on using Bitstop’s ATM: How to buy Bitcoin from a Bitstop Bitcoin ATM
Have fun using Bitcoin ATMs. They are one of the best ways to invest in bitcoin for beginners.
