Have you come across a local Bitcoin ATM but don't know how they work? We demystify the process to make things easy.
to find the Bitcoin ATM location nearest to you. Aside from location, these maps also allow you to filter your search according to operator fees, type of machine and supported cryptocurrencies.
Most Bitcoin ATMs will require you to create an account with the ATM operator before you can use the machine. This is usually done by scanning your ID or driver's license. The account creation process is usually pretty straightforward.You will be asked to input your wallet information at the ATM, either via a QR code or an alphanumeric key. Scan your Bitcoin wallet QR using your mobile phone.
When it comes to selling your Bitcoin, the process is pretty much the same as buying. The only difference is that you will need to select the option to sell —not buy — Bitcoin when you're at the ATM. You'll also have to ensure that the machine you're using supports the sale of Bitcoin.Step 1: Find a 2-way Bitcoin ATM near youso you'll have to find one that specifically supports crypto selling.
The fees charged by these ATMs comply with the regulations of the state under which they operate. So, depending on the state you're in, the fees may vary. Generally, though, Bitcoin ATM operators need to register with the Financial Crimes Enforcement Network and comply with the Bank Secrecy Act's Anti-Money Laundering provisions.
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