Bitcoin teller machines (BATMs) are a great gateway to the world of cryptocurrencies as they don’t require extensive expertise and you can use them without complicated access procedures. While there are differences in how various devices function, in most cases all you need is to have a crypto wallet installed on your smartphone and a wallet with cash and cards in your pocket.
But even that is not always necessary.
Cryptocurrency markets have experienced a few intensive weeks since the start of the year that took prices to 2020 highs in mid-February. The overall bullish sentiment is attracting more interest towards the crypto space. There are many ways to get started with Bitcoin but one the most accessible options is to find an ATM supporting coin purchases with local fiat.
Using a Crypto ATM Is an Easy Way to Get Into Bitcoin
In order to “withdraw” cryptocurrency from a BATM, you’ll have to set an amount you’d like to buy, enter a destination crypto address – you can let the machine scan the QR code on the receiving screen of your mobile wallet – and then insert the banknotes that you want to convert into digital money. Once you complete the purchase, you can print out a receipt for the transaction. In case you don’t have a software wallet, many teller machines can also generate a paper wallet for you.
Some Bitcoin ATMs are two-way devices that allow you to also sell crypto for cash. One common way to do so is to enter a sum of fiat currency you want to withdraw from the teller machine, which will print out a ticket with a QR code of a public address you need to send the coins to within a certain timeframe. You can scan the code with your mobile wallet and transfer the preset crypto amount. Then by scanning the same printed QR code later at the ATM you can redeem the cash equivalent.
How to Find BATM Locations Near You and Around the World
The easiest way to locate the closest bitcoin ATM is to use a tracking website. Coinatmradar is the most popular option as its database now lists almost 7,000 crypto teller machines worldwide. The platform has many useful features. For example, you can narrow down your search by supported cryptocurrencies, availability of buy and sell options, and focus on a particular destination including country, city and location.
The most intuitive way to do that is by using Coinatmradar’s interactive map but there’s also a dedicated “Find a bitcoin ATM near me” feature that provides even more options. It allows you to choose between eight popular cryptocurrencies, including bitcoin core (BTC) and bitcoin cash (BCH), and to select the ATM locations according to their buy or sell features. You can also use the page to search for ATMs by address or allow the tracker to use your current location to ask for suggestions in your area.
Coinatmradar supports searching by countries and by manufacturers. The website provides details about each listed ATM like the exact address of the device, directions how to get there, working hours and its operator’s contact information. Because of their accessibility and running costs, Bitcoin ATMs usually charge relatively high fees per transaction. With Coinatmradar you can obtain that information as well if it has been reported by the company. Supported fiat currencies and exchange pairs are also listed.
Other bitcoin ATM locator sites often track crypto teller machines in a specific region. Findbitcoinatm.com.au was one such platform working in Australia but its website is currently offline. The Russian Cryptocoinmap.ru is similar in design, although much simpler than Coinatmradar. It lets you find BATMs on a Yandex map and lists them with their locations, pictures and other details, including working hours, supported transactions and available cryptocurrencies. Visiting an operator’s website is another option. For example, Coinflip, which is a leading provider in the U.S., allows you to explore its ATM locations online. Using Google Maps or business directory services such as Yelp can produce some results but Coinatmradar remains the best global source at the moment.