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Bitcoin is the first cryptocurrency, a digital asset designed to work as a store of value. Bitcoin can be used to make purchases online, physical purchases, make payments to friends or companies, and more. Bitcoin ATMs are machines that buyers use to purchase bitcoin with cash or card. It can be intimidating to find a Bitcoin ATM, but these machines are all over the world. Now you can find them at airports, universities, and even your local grocery store!
There has been a surge in the number of Bitcoin ATMs available in the U.S. since 2014, beginning with four in the first quarter of 2014, and expanding to more around the country. As of November 2018, there were more than 300 Bitcoin ATMs in the United States.
Bitcoin ATMs enable online users to obtain bitcoins. The process involves paying cash, usually in the U.S. dollar, to the Bitcoin ATM. This money is then converted to bitcoins, which are then transferred to the user’s bitcoin address.
1. Download the app for the Bitcoin ATM you’re using.
2. Open the app and connect with your bank account to make a deposit.
3. Enter your address to withdraw bitcoins from the ATM.
4. Wait a few minutes and check your balance.
5. To buy bitcoins, select “Buy Bitcoins” and follow the instructions on the screen.
6. When you’re ready to make a withdrawal, press the “Withdraw” button on the app.
7. The ATM will show a QR code that can be scanned to authorize the withdrawal. A confirmation text message will be sent to your email address if the withdrawal is successful. Repeat the steps above to send bitcoins to any other address.
8. If you receive an error message, restart the ATM app and try again.
You can also use an exchange like Coinbase to buy Bitcoin. To do so, sign up and buy a Bitcoin wallet.
If you’re buying a few bitcoin, you can also do so using a service like LocalBitcoins.com. This is a peer-to-peer website that allows you to connect with other people who want to buy and sell bitcoin.
Here’s how it works:
1. Create a user account — it’s free and anonymous.
2. Search for people near you who want to buy or sell bitcoin.
3. After you’ve found a potential buyer or seller, select a method of payment.
4. The peer then goes through a verification process.
5. Once that’s complete, the buyer and seller can communicate directly through a messaging system.
6. Once the transaction is complete, your coins make their way to your wallet.
Common Issues with Bitcoin ATMs
1. The website is down
If the website is down, you’re likely out of luck.
2. The ATM is broken
If the ATMs are broken, you may be out of luck.
3. It doesn’t accept credit cards
Payments can be made in other ways, such as through a bank wire transfer.
4. It’s out of money
Depending on your country and the payment method, the ATM may not have enough funds for the transaction.
Bitcoin ATMs allow you to buy and sell bitcoin for cash without an internet connection, and can be found in most major cities. The process of using a Bitcoin ATM is very simple: choose your language, insert your cash into the machine, and scan your QR code in order to receive bitcoin.
A Bitcoin ATM offers safe and easy access to buy and sell bitcoin.