If what brought you to this page is knowing how to withdraw money from Bitcoin ATM, you are on the right page.
ATMs for cryptocurrencies are becoming more common around the world today. Yes! You can buy and sell crypto and even open a digital wallet by interacting with a machine.
This makes all the processes easier and you do not depend on third parties to complete your transactions.
In the last couple of years, this type of machine has become very popular, and now there are many places where you can find them.
So, in this post, you will learn how to withdraw money from Bitcoin ATM and other important information you need to know.
So, ensure that you make yourself comfortable while we take you through this piece
What Is A Bitcoin ATM?
A bitcoin ATM is a machine that allows you to do operations with bitcoin and other digital currencies without going to a virtual exchange platform or any other type of platform.
As with ATMs in banks, ATMs dedicated to cryptocurrency operations are exclusively dedicated to making your life easier.
The purpose of this type of device is that you can buy or sell bitcoin in a matter of minutes without having to depend on online platforms or third parties.
In addition, the fact that these machines are available anywhere in the world adds a great level of accessibility to this type of asset.
How To Withdraw Money From Bitcoin ATM
Now that you understand what a bitcoin ATM means, you follow the steps highlighted below to withdraw money from a bitcoin ATM.
Note: There are different types of bitcoin ATMs, but for the sake of this article, we will be using CoinFlip Bitcoin ATM.
Meanwhile, you should also note that the operation of these ATMs is very similar.
So let’s dive in;
STEP 1 – Locate the nearest Bitcoin ATM
To find the nearest Bitcoin ATM to withdraw money, you need to input your Zip Code in any Bitcoin ATM Online.
STEP 2 – Select the Crypto You Want Withdraw
Having gotten to the Bitcoin ATM, you should select the crypto you want to withdraw. It is a straightforward step.
STEP 3 – Accept the Terms and Conditions
The Coinflip Bitcoin ATM will then come up with detailed terms and conditions. It would be best if you accepted this before you can proceed.
STEP 4 – Select Your Cash Limit
Now that you have accepted Coinflip terms and conditions, you will be required to select your cash limit in which you have two options –’ Up to $90′ or’More than $90′.
The ‘more than $90’ option is only for registered, but you need to register if you are not a registered customer and want to withdraw more than $900.
This registration can be done right at the ATM, which requires your phone number and basic details.
STEP 5 – Input your Phone Number
Whether you are withdrawing more than $900 or less, you will still be required to input your phone number, which you will use to receive a text message with your one-time password.
STEP 6 – Select the amount you want to Withdraw
Having gone through the previous steps successfully, it is about time you input the amount of money you wish to withdraw.
The increment you can withdraw depends on the machine you are using. For the Coinflip Bitcoin ATM, you can withdraw in increments of $20 or $100.
STEP 7 – Scan the QR Code
Now that you have decided the amount you want to withdraw, you will be required to scan the QR Code using your crypto wallet application.
Yes, the bitcoin ATM will display the QR Code Receipt, so you use your wallet app to scan it to complete your transaction.
STEP 8 – Wait for Network Confirmation
Now you need to wait for a one-network confirmation of your transaction on the blockchain.
The duration you are waiting depends on the type of crypto that you are withdrawing. Meanwhile, it takes only a few minutes on average.
If you don’t receive the confirmation within minutes, you should contact Coinflip ATM customer service – (733) – 800 – 0106.
STEP 9 – Get your Money
At this point, your goal of withdrawing money from Bitcoin ATM will be achieved, provided that you have successfully passed the above steps.
Meanwhile, it would be best if you still did your transaction confirmation by scanning the ticket QR Code and providing your phone number.
Benefits Of Bitcoin ATMs
Doing operations with bitcoin ATMs has many benefits, but the most important are;
It is fast
Doing your bitcoin transactions at an ATM is extremely fast. The specific time will always depend on the machine you are using, but on average, it will not take more than 5 minutes.
You only need a wallet
Unlike many other methods to buy or sell digital currencies, you only need to have your bitcoin wallet to use an ATM. Even if you don’t have it, the cashier will automatically assign you a paper wallet.
It is anonymous
To make a transaction on this type of machine, you do not need to have an account on any platform, so you can do your crypto buying and selling operations practically secretly.
You can access many digital currencies
This will depend on the ATM you are going to use, but currently, many ATMs allow you to buy and sell a large number of cryptocurrencies; this is a great relief if you work with more than one cryptocurrency or with another that `is not Bitcoin.
At this point, you should be able to withdraw money from bitcoin with little or no supervision.
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