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How does a bitcoin ATM work? - Easbit | The Bitcoin Mobile Wallet Application

How does a bitcoin ATM work?

How does a bitcoin ATM work?

How does a bitcoin ATM work? One of the easiest ways to buy bitcoin or sell bitcoin is to visit a bitcoin ATM. You see them more and more today at places such as shopping malls, train stations and other public places.

Make sure before you go to the bitcoin ATM that you have installed the Easbit mobile bitcoin wallet. With the Easbit mobile wallet you can carry your bitcoins with you. That’s all you need.

How does a bitcoin ATM work?

What is a bitcoin ATM?

It’s pretty much the same as a normal ATM, but this ATM changes cash into bitcoins. The other way around is also possible. So if you want to change your bitcoins into cash or cash into bitcoins this is the place you go.

Buying bitcoin at a bitcoin ATM

Buying goes super fast at a bitcoin ATM and is very simple.
When you want to buy bitcoins at an ATM you will see a screen that looks like this.

Buying bitcoin at a bitcoin ATM

  1. Enter the amount you want to buy.
  2. Put cash money in the machine.
  3. Go to “My Wallet” in the Easbit bitcoin wallet app and let the machine scan your QR-code. The bitcoins are directly send to your bitcoin wallet.
  4. Take out the receipt and you’re done!

Selling bitcoin at a bitcoin ATM

Most bitcoin ATMs can also turn your bitcoins into cash. You can directly transfer your bitcoins to the ATM and voila the cash is there.

When you want to buy bitcoin at an ATM you will see a screen that mostly looks like this.

Selling bitcoin at a bitcoin ATM

  1. Enter the amount you want to sell.
  2. The ATM will show you a QR-code which you can scan with the Easbit bitcoin wallet.
  3. Click on “Send” to complete the transaction.
  4. The ATM now cashes out the amount of bitcoin you’ve sold.

 Are own video!

 Is there a bitcoin ATM near me?

There are some good resources where you can find the nearest bitcoin ATM. Here are the best 3 sources for finding the closest bitcoin ATM.

  1. Coin ATM Radar
  2. Coindesk
  3. Bitcoin Maps

bitcoin_atm_map

 

How bitcoin ATMs helps to make bitcoin famous

Bitcoin ATMs are not only very handy to buy and sell bitcoins. Bitcoin ATMs can also be a great way to help creating more awareness for the bitcoin itself.

Mike Tyson

He is not only an incredible formal heavyweight champion, but he is also a worldwide known brand. He is now using his name to get bitcoin ATMs on the radar in Las Vegas. He plans to install over 100 machines. Keep up the good work!

mike_tyson_bitcoin_atm

Installed at universities

Faculty of Informatics and Management Paulista (FIAP) is an in São Paulo-based private university. They have installed several bitcoin ATMs on the campus. This because they want to give the students an opportunity to learn more about bitcoins. It’s even possible to pay your tuition in bitcoins. Looks like the school of tomorrow.

bitcoin_atm-school

Try it now the Easbit experience, it’s free!

The best way to see how it really works is just to try it yourself. The Easbit mobile bitcoin wallet app for Android is totally free to download.

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