Bitcoin ATM's have been sprouting up all over the world recently, I'm sure many of you have seen various posts or pictures of them in shops and malls.
According to Coin ATM Radar there are currently 1,588 Bitcoin ATM's. This is a drastic increase from the same time last year of 802. Going back to 2015 the same time there was only 456 Bitcoin ATM's!
I grabbed a screenshot off their website to illustrate the growth of the Bitcoin ATM's over time. It;s also fun to see how many Litecoin and Ethereum and Dash ATM's have sprung up :P
Here are the top 10 countries by # Bitcoin ATM's
Unites States: 996
Canada: 252
United Kingdom: 85
Austria: 65
Spain: 37
Switzerland: 23
Finland: 22
Czech Republic: 20
Australia: 17
Japan: 16
According to the Bitcoin ATM Map there are 59 countries in total with these installed.
How to buy Bitcoins at a Bitcoin ATM
One of the first things you must do before purchasing Bitcoins at an ATM would of course be... to get a Bitcoin Cryptocurrency wallet. There are many to choose from, a fan favorite especially for new-comers is Coinbase. https://www.coinbase.com/join
The next thing you need to do is to find the closest Bitcoin ATM to your location. Go to:
https://coinatmradar.com/bitcoin-atm-near-me/
Below is a general walk through of purchasing Bitcoins on an ATM. It is worth noting that each machine protocol varies slightly although the underlying structure is the same.
- Click “Buy Bitcoin”
- Choose coin (e.g. Bitcoin)
- Choose scan QR
- Scan QR of the wallet
- Insert cash bills
- Press “Finish”
- Take printed receipt
The fees for Bitcoin ATM's are around 10%. This of course is not the best deal, but is a great way to get peoples attention who have never heard of Bitcoin and cryptocurrency. These are also very convenient for anyone once you learn how to use them and sometimes the fee may be worth it to get Bitcoin immediately.
Hope I have showed someone something new, and if not I hope I bring up the topic of discussing these Bitcoin ATM's and how there is by far a drastic increase in the number of these being installed worldwide!
Cheers!
In New England we have a bunch in Massachusetts which offer both anonymous transactions as well as ID neccessary transactions so you can be as anonymous as you want;) New hampshire is great because bitcoin is not taxed up there unlike CT which taxes capital gains at 20%
Great post!
Dante
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Oh wow 20%?! dang hah I thought 10% was high!
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Thanks a lot! That's for sure a good news! Have never heard about it before! Keep posting!
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Thanks for the input, follow me I will keep the content coming :P
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This was a very helpful post. I have noticed that some of the bitcoin ATM machines do not give you a physical receipt.
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