HOW TO BUY BITCOIN USING ATM – All you need to know about purchasing bitcoin via ATM
Warning
People may try to scam using the bitcoin ATM. Internet fraudsters pose as appropriate authorized to life their victims into purchasing bitcoin via ATM, don’t be excited you are asked to pay for the bitcoin ATM service ensure to make own research first.
In this article, I will be talking about how you can trade bitcoin via ATMs.
How To Locate Bitcoin ATM Near You
Coin ATM radar grants access for you to locate a bitcoin ATM near you by utilizing the live search feature. With ATM radar you can do the following
- Find the nearest bitcoin ATM
- Access any information about the ATM including transaction fee and features
- Direction to the bitcoin ATM
It is worth knowing that there is only one available bitcoin in Nigeria, and it is located in Lagos.
What Type of ATM Will I Find at The Location?
These three types of bitcoin ATM. And they are:
- The bitcoin ATM use in purchasing bitcoins
- The one used in converting Bitcoin to fiat currency
- The one that enables you to buy and sell bitcoin (and this ATM is very rare to find)
How To Use Bitcoin ATM
Here is how to use the bitcoin ATM:
- When you purchase from the Bitcoin ATM, bitcoin is deposited to your wallet through a QR code, enable to download the bitcoin wallet on your device to generate one.
- Provide any means of identification make the whole process a lot easier
The average rate per transaction on the bitcoin ATM is 8-10% which is quite expensive for some people, however, some Bitcoin ATM offers lower rates depending on your location and provider, it is quite important to go through the instruction before using it.
How To Purchase Bitcoin With The Bitcoin ATM
- Select buy
- Provide your mobile details
- Enter the OTP sent to you
- Select the amount you are willing to purchase
- Scan wallet
- Enter cash equivalent to the bitcoin machine
Using Bitcoin ATM To Sell
- Select the sell option
- Select amount you want to trade or withdraw
- Scan QR close
- Send the address
- Receive your cash