Bitcoin ATM, also known as BTM, which stands for Bitcoin Teller Machine, helps in exchanging fiat into Bitcoin unbelievably easy. Bitcoin ATM’s are a quick and convenient process to sell or buy your Bitcoin being anonymous. The best part was that it doesn’t matter whether you want to withdraw 100 dollars or 1000 dollars, there are no lengthy verification processes that need to be completed as per the previous Bitcoin ATM Withdrawal guidelines. But now, the Government has taken a step forward on tightening up the regulations a bit. The users who don’t have a bank account might find the Bitcoin ATMs extremely convenient with high privacy and speed. Some of the ATM’s like Local BTC ATM supports less than 15-second operation, wherein scanning the QR code and sending/receiving will happen.

Steps involved in how to use a Bitcoin ATM:

#1 Identity Verification
This is an optional step, and it depends on the ATM or the processor. Sometimes they might even ask for your mobile number, with an OTP (One Time Password) method, which might be needed in order to proceed. Some of the machines might ask for your Passport or driving license in order to go ahead.

#2 Give BTC Address
After the identity verification, you need to give your Bitcoin address to the machine, so that the machine gets where to send the Bitcoins. You can have any Bitcoin mobile wallets, and they will get transferred there. You can also give your mail id, and receive the Bitcoin by mail. You can print the QR code on paper, which can act as a paper wallet, after scanning you can get the private key.

#3 Put Your Fiat Money In The ATM
In this step, you insert the fiat money, in exchange for what you need Bitcoin. You can slip the money one by one in the designated area in the Bitcoin ATM machine. But some of the machines accept bulk fiat money insertion as well. Be careful while putting the money in the machine.

#4 Confirm The Amount, Complete The Transaction
This is the last step, wherein after you have done with confirming the amount, you need to proceed with your transaction by clicking or tapping on “CONFIRM”, “BUY” or “FINISH”. The Bitcoin will be sent to the respective address given in Step 2.

Even Bitcoin can be sold using ATMs, where you just have to enter the amount you want to sell, then send the Bitcoin address displayed on the machine screen and finally, cash will be dispensed after that and this is how to withdraw money from Bitcoin ATM. The question is does BTC ATM accept credit cards, whose answer is no as of now, which might change in the near future.

Source:- https://localbitcoinnow.com/locations/