Home Finance Bitcoin ATMs Coming to a Spot Near You!

Bitcoin ATMs Coming to a Spot Near You!

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Most people associate ATMs with depositing cash or checks or withdrawing cash. You may be excused for cocking your head when you first hear “Bitcoin ATM.” The first inquiry is generally “How?” After that, people commonly ask, “Where can I find Bitcoin ATMs near me?”  Unlike typical ATMs, bitcoin ATMs allows customers like you to purchase and sell bitcoin for cash.

Besides Bitcoin (BTC), Cryptobase ATMs accept Bitcoin Cash (BCH), Ethereum (ETH), and Litecoin (LTC) (LTC). Some Cryptobase ATMs only purchase or sell crypto. Others support both. When you search for bitcoin ATMs near me, you can find out what the bitcoin ATM near you allows.

How Many Bitcoin ATMs Near Me?

The number of crypto ATMs is increasing in lockstep with consumer interest in crypto. The world’s first crypto ATM was installed on Oct. 29, 2013, inside a coffee shop in Vancouver, Canada. The first Bitcoin ATM in the US was established in Albuquerque, New Mexico, on February 18, 2014. Albuquerque residents only had to search for bitcoin ATMs near me in order to discover it was right around the corner!

Almost 36,000 crypto ATMs were operational in early 2022. Five years ago, there were just 1,000 Bitcoin ATMs. The number of crypto ATMs in the US increased by 177% in 2020. Today, almost 75% of crypto ATMs are situated in North America.

What Are Crypto ATMs?

Crypto ATMs link to a mobile crypto wallet rather than a bank account. The machine is internet-connected to calculate currency rates and conduct real-time transactions.

The Cryptobase ATM requires a smartphone or other connected mobile device with the Cryptobase Wallet software installed. Here is a list of Cryptobase Bitcoin machines.

Using a Crypto ATM

Before using the ATM, make sure your wallet can show the QR code needed to request the bitcoin you want. Preparation is key.

Once the wallet is set up and the QR code is obtained, you may find a nearby crypto ATM and purchase and sell crypto.

Step-by-Step Crypto ATM Use

  1. To use a crypto ATM, simply click “Buy Coins” and input your phone number.
  2. You should get a verification code through text message shortly. Please enter the code.
  3. Set a four-digit passcode for each Cryptobase ATM visit.
  4. Follow the steps to purchase or sell Bitcoin or any of the other cryptocurrencies listed above.

Buying crypto requires cash. Amount displayed when each bill is added. You may either scan a QR code or manually input your wallet address.

You may also buy crypto at Cryptobase ATMs. To do so, scan a driver’s license. (ID required for transactions exceeding $1,000.) A paper wallet will be your receipt.

The transaction should post quickly. However, Bitcoin purchases might take up to an hour to appear in your crypto wallet.

When selling crypto for tiny amounts, the cash is dispensed promptly. Large transactions might take up to 10 minutes to confirm. You’ll get a text message with a redemption code when your cash is available. Return to the ATM and choose “Redeem.” Receipt of the redemption code

Note that any transaction costs will be added to the total. Send the exact amount stated on the screen, including fees, when selling bitcoin.

Where Can I Find Bitcoin ATMs?

With approximately 36,000 sites and lots of internet tools, finding a crypto ATM near you is becoming more simple.

Currently, over 150 Cryptobase ATMs exist across the US. There is almost certainly one coming to your hometown soon!

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