Do bitcoin ATMs give cash?

Introduction:

Bitcoin ATMs have also become more popular, but there is confusion between bitcoin ATMs. Some people think that bitcoin ATMs give bitcoin a golden coin that we always see on the internet. But in reality, bitcoin ATMs are made to buy and sell bitcoins and other cryptocurrencies. Most of the bitcoin ATMs offer to buy bitcoin with fiat currency like USD, INR, POUNDS, etc., and some bitcoins provide buying and selling features. So, the question is, do bitcoin ATMs give cash? Yes, bitcoin ATMs offer money, but most ATMs offer services to buy or trade bitcoins or other cryptocurrencies. So, without wasting time, let’s learn about how bitcoin ATMs give cash. If you have never used bitcoin ATMs, this article is for you to get knowledge about bitcoin ATMs and enhance the overall bitcoin experience .

Why Bitcoin ATMs?

When bitcoin became popular after its launch, it was challenging for people to understand bitcoin technology. People want to use bitcoin through fiat currency, but they do not have proper knowledge about bitcoin. Bitcoin was very complex for the beginner who wanted to do transactions using bitcoin cryptocurrency. After that, the exchange came into existence, and then it became easy to buy and sell bitcoin through exchanges. Bitcoin exchanges are third parties that provide extra services for some fees. UI is straightforward for students to buy and sell bitcoins quickly. But the limitation with bitcoin exchanges is that you have to provide your personal information, and exchanges are a centralized system that means if the exchange gets hacked, you will lose all your bitcoins and cannot get it back. 

So bitcoin ATMs come into existence that makes all the processes very easy. Bitcoin ATMs are the same as traditional bank ATMs we use for daily transactions such as cash deposits, withdrawals, balance inquiries, fund transfers, and many other services. But in bitcoin ATMs, you can buy bitcoins by depositing fiat currency, and you can get cash or fiat currency by selling bitcoin through an ATM and trade bitcoins on the ATM. That means an ordinary person can also buy and sell bitcoin through ATMs.

The most prominent feature of bitcoin ATMs is that if you have fiat currency and want to buy bitcoin, go to a bitcoin ATM near you and open your bitcoin wallet on your phone. Then, scan the QR code given on the ATM, deposit your cash, and after 10 minutes deposit bitcoins to your account. 

You must have a bitcoin wallet:

If you are using a blockchain wallet, then it is well and good. If you are using an exchange wallet, you must check the buy and sell option through exchanges. Some exchanges provide only trading and investing services, which means you cannot send or receive bitcoin to a particular address. So if you are using any other separate wallet connected with the blockchain, it is well and good. A Bitcoin wallet is essential because there is no ATM card that you will insert and do all the transactions. It is a virtual process to buy and sell bitcoins. You must have a bitcoin to immediately scan the send or receive bitcoin QR code with your mobile wallet.

Simple to Sell:

There are the few simple steps to sell bitcoin through bitcoin ATMs given below:

• First of all, you must have a bitcoin wallet, whether it is a blockchain inbuilt wallet or a separate wallet, and you must have bitcoins in your wallet.
• The second step is to check the bitcoin ATMs near you. Most bitcoins are available in metro cities or urban cities because people are unaware of bitcoin technology in villages or small towns. Search on Google “Bitcoin ATMs near me or (in ‘your city name’)” and Google will show you all the possible results of bitcoin available near you.
• When you stand in front of the ATMs, two options will flash: Buy, and the second is Sell. Click on the sell button because you need cash.
• It will show you the QR code to sell bitcoins. Open your mobile phone and open a bitcoin wallet.
• Scan the QR code with your bitcoin wallet.
• Enter the amount or number of bitcoins you want to sell. Click on Sell.
• It will take up to 10 minutes, and after that, you can collect your cash.

So above are the simple steps to withdraw cash from bitcoin ATMs but remember that the fees of bitcoin ATMs are very high.