Bitcoin, the world’s first cryptocurrency, has been making headlines for the past decade.
What was once mocked and misunderstood has now become a global asset class, attracting the attention of high profile investors and financial institutions, as well as those looking to store their money in a safe,r more decentralized manner.
It doesn’t require a bank to buy or hold bitcoin, and you can send it peer-to-peer without a financial institution facilitating the transaction.
And a bitcoin ATM makes it accessible for nearly anyone to acquire some bitcoin. Wondering how to buy bitcoin at ATM machines?
It’s easy and affordable, and all you need is a smartphone. Keep reading to learn how to use bitcoin ATM machines today.
Table of Contents
Find a Bitcoin ATM
Before you can buy bitcoin with your extra cash, you first need to find a bitcoin ATM machine, since they are different from the ATMs supplied by banks.
Check out https://www.bytefederal.com/bitcoin-atm-near-me/ for a list of all Byte Federal bitcoin ATMs in your area. They are usually offered in convenient locations like grocery stores or gas stations, so there’s probably one along your way to work.
Bitcoin ATMs, so long as they are outside, are available 24 hours a day.
How to Buy Bitcoin at ATM
So you’ve found your nearest bitcoin ATM. Wondering how to buy bitcoin using it? Here’s what to do.
Prepare for Your First Transaction
Buying crypto at a bitcoin ATM means creating an account. Even though crypto is decentralized, the companies that sell it in the US are highly regulated by financial authorities.
So you’ll need to verify your identity when making your first transaction. Bring your photo ID with you to the ATM.
You’ll also want a smartphone. Cryptocurrencies like bitcoin are stored in virtual wallets. These wallets are free and work as an app on your phone.
If using a Byte Federal ATM, then use the Byte Federal wallet and app to simplify the process.
Lastly, bring any amount of cash you want to convert into bitcoin. Most Bitcoin ATMs only accept cash.
Create Your Account
Once you arrive at the ATM, you’ll need to create an account. To do this, you have to verify your identity with your photo ID. You only need to do this once. The process is lightning fast and you should complete the verification in seconds.
How to Use Bitcoin ATM With Cash
Next up, you’ll want to show your wallet address where you plan to store your bitcoin. If you have a wallet app on your phone, display the QR code and let the ATM scan it.
Then, you’ll insert the amount of cash you want to use to purchase bitcoin. You’ll pay a small fee to the ATM provider. The rest will acquire bitcoin at the current market price.
Welcome to the Crypto Investor
Ta-da, you are now a bitcoin investor, whether it’s just a few dollars or tens of thousands of dollars. Now that you know how to buy bitcoin at ATM machines, you know just how easy it is to invest in cryptocurrency, the best performing asset class of all time.
Looking for more financial tips and tricks? Head over to our blog now to continue reading.
