How to Use a bitcoin ATM

Yesterday i posted about what is a bitcoin ATM and i explained everything you need to know about the machine, so today i will writing on how to use the machine in details.

First thing first, we need to locate a Bitcoin ATM, as we will need to meet one physically. Luckily for us there is a very interactive tool visit coinatmradar.com to use one, which will help us locate ATMs. Enter your preferred location into the search field to display machines in the local area. The picture below shows a typical type of bitcoin ATM.

On the left hand side of machine, we have the sell instruction while on the right hand side we have a buy instruction. So depending on the action you want to perform, that determine the side you will pay attention to.

Also along the left-hand side are the slots for depositing and collecting fiat money, a receipt printer, and a QR reader for address input.

So for instance let say you want to buy some bitcoin, all you have to do is outlined below:

1. You need to scan your Bitcoin wallet receiving address with the ATM’s QR reader to tell the machine where to send the purchased Bitcoin.

2. There is need to check the alphanumeric address displayed by the machine is exactly the same as that displayed by your wallet app to avoid loss of funds.

3. Then you can now insert your cash into the machine deposit slot.

4. Set the miner fee that you want to pay for the transaction to be included in a block. NB: The higher the fee, the sooner it will be confirmed.

5. Finalize the transaction by clicking on accept.

6.Take the receipt in case of any issues.

In conclusion, you can see that the procedures are simple and straight forward. You also follow the same procedures when you want to sell bitcoins on the ATM.