Are you curious about creating a bitcoin wallet? You might have noticed that bitcoin ATMs have shown up all around, even in small towns and cities.
Now that bitcoin is commonplace, it’s worth knowing how to use a bitcoin ATM and what these devices might be able to offer you. We’re going to walk you through how to make a bitcoin ATM withdrawal today, hopefully inspiring you to see what all the buzz is about.
Let’s take a look.
How to Make a Bitcoin ATM Withdrawal
The first thing you have to do before you make an ATM withdrawal is set up a bitcoin wallet. There are numerous ways to do this, but the process is simple. It’s akin to setting up an online bank account, except that you might not have as much red tape to walk through.
Then, you should click to see the availability of bitcoin ATMs in your area. There’s little use in creating an account if you can’t access your cash.
Once you’ve completed those steps, you can think about buying or selling bitcoin.
You’ll first be asked to verify your identity. This tends to involve using a QR code that will direct you to your account for quick verification. You’ll then be able to choose whether you want to buy or sell bitcoin.
Buying and Selling Bitcoin
Buying and selling bitcoin is not as complicated as it once was. Before, you had to invest in complex computer technology to mine bitcoin and hold it as it accrued value.
Now, however, you can buy small fractions of bitcoins that are easily transferable into cash. You use the ATM to buy and withdraw bitcoin.
If you want to buy, you simply insert cash into the machine. You can then decide precisely how much bitcoin you’d like to buy and that value will be sent into your account. You would do this if there were an online transaction you’d like to make that required that you had bitcoin.
If you’re in a situation where you want something that can only be bought through bitcoin, know that all you have to do is create an account and insert some cash.
if you want to sell bitcoin, the process is just as simple. Note that selling bitcoin and withdrawing cash are two ways of saying the same thing.
Once you link your account to the machine in question, you select the value that you want to take from your account. That value will then be dispensed in cash through the machine. That’s how simple withdrawing from a bitcoin ATM is.
That value will then be taken out of your bitcoin wallet, and the process is complete.
Interested in Bitcoin?
Making a bitcoin ATM withdrawal is simple and safe. Those are two benefits of incorporating bitcoin as a currency that you use regularly.
There’s a lot more to bitcoin, though, and it’s all worth knowing. We’re here to help you learn more. Explore our site for insight into the world of bitcoin, how it works, and what it might be able to do for you.