Things required to use a Bitcoin ATM
There are a few things you’ll need to prepare before you can get started on using a Bitcoin ATM:
A crypto wallet
The first thing you’ll need before using a Bitcoin ATM is a crypto wallet. More specifically, you’ll need a Bitcoin wallet. A crypto wallet is an app or a piece of software that allows you to store your crypto.
In this case, you’ll need a wallet that specifically supports Bitcoin (BTC) — one that allows you to send and receive Bitcoin. It shouldn’t be a challenge to find a good one as Bitcoin is virtually the most popular cryptocurrency out there. There are many different types of wallets, and they all have their advantages and disadvantages.
Related: Bitcoin wallets: A beginner’s guide to storing BTC
A Bitcoin ATM near you
Once you have a wallet, you will need to find a Bitcoin ATM. Bitcoin ATMs are usually located in high-traffic areas, such as shopping malls or airports. They look like traditional ATMs, but they allow you to deposit or withdraw cash in exchange for Bitcoin.
Bitcoin ATMs are not as common as typical ATMs yet, so you might not find one easily, especially if you live in a big city. You’ll have to use a live map like Bitcoin ATM Map or Coin ATM Radar to find the Bitcoin ATM location nearest to you. Aside from location, these maps also allow you to filter your search according to operator fees, type of machine and supported cryptocurrencies.
When you find a Bitcoin ATM near you, note down the address or pinpoint the location on your GPS to find it easily when you’re ready to use it.
How to buy BTC at a Bitcoin ATM
Once you find a Bitcoin ATM, here’s what you need to do:
Step 1: Set up an account with the ATM operator
Most Bitcoin ATMs will require you to create an account with the ATM operator before you can use the machine. This is usually done by scanning your ID or driver’s license. The account creation process is usually pretty straightforward.
Step 2: Enter the necessary wallet information
You will be asked to input your wallet information at the ATM, either via a QR code or an alphanumeric key. Scan your Bitcoin wallet QR using your mobile phone. If…