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Trading your crypto for cash is easy at a crypto ATM. With awareness of the specific machines you’re using and its capabilities, you can trade your crypto for cash at locations near you. First, make sure you’re using a reliable crypto ATM.
Check the operator’s credentials to ensure that the BTM is properly licensed and credited with necessary qualifications to run as a secure operating machine. Make use of online locators, BTM reviews from customers online, and mobile locator apps to find reliable locations in your area. While locators are great resources to help you pinpoint BTMs in your area, you should still do your own research to verify its legitimacy as well.
There is not always information besides operating hours and the location address on locators. Be sure to avoid machines located in dimly-lit areas for your security and safety. For more information on turning your coins to cash, continue reading below.
Determine The Action Options At The Bitcoin ATM.
Determine if the machine allows crypto for cash. Not every bitcoin ATM offers the same capabilities, so you’ll need to verify its capabilities first and foremost. You may be able to narrow down your options using apps and online locators that give information on addresses and whether or not the BTM is for buying and selling. Look at customer reviews to determine the best BTMs near you.
Start The Transaction Process.
Once you’ve found a bitcoin ATM you trust, you can begin your transaction. Select “sell” or choose to withdraw cash and initiate the transaction. From there, you’ll be asked to complete the verification steps, which may include giving your phone number, scanning your government ID, or completing facial recognition. Then, you’ll enter the amount of cash you want, and the BTM will showcase the reflective Bitcoin you’ll need to submit for that amount.
Send And Scan.
Then, you’ll see the QR code and wallet address along with the Bitcoin amount needed to complete the bitcoin ATM transaction. You can then open your digital wallet, choose “send” and scan your digital wallet’s QR code. Finally, you’ll send the Bitcoin to the BTM address. Make sure that you’re submitting the right amount before scanning to prevent mistakes and financial losses.
Wait For Your Confirmation.
After completing this last step, you can wait for confirmation. It may take up to an hour (sometimes more), depending on how the network is, as these transactions are on the blockchain. Then, you can collect the cash dispensed by the bitcoin ATM after the transaction has been confirmed. You may also recieve a printed or texted receipt for the transaction.
Complete A Step-By-Step Process.
Be aware of any fees that apply to using the bitcoin ATM. There may be network fees that go toward broadcasting the transaction that you’ll have to cover. Be mindful of any transaction limits as well as operating hours that may interfere with your schedule. With BTMs, you can turn your digital assets into tangible money with a simple step-by-step process.
