How to Utilize Bitcoin ATM? What Are the Fees?
Bitcoin ATMs have totally revolutionized in a way people buy or sell their cryptocurrencies. The machines will allow the users to buy and sell Bitcoin by using their debit card, credit card or cash. Not just they are highly convenient, but they are also incredibly simple to utilize. In this post, we will explore how you can use Bitcoin ATM at cryptobase ATM and fees linked with using the machine.
Find a Bitcoin ATM
The first thing you need to do is find the Bitcoin ATM close to you. You may do it by using the websites that allows you search for the Bitcoin ATMs close to your area. When you find the machine, you can approach it and select “Buy Bitcoin” and “Sell Bitcoin” option, as per your requirements.
Scan the Wallet
If you are purchasing Bitcoin, insert cash in a machine, and automatically it will calculate Bitcoin that is equivalent based on its current exchange rate. Then you will have to scan the Bitcoin wallet code, and Bitcoin will get transferred into your wallet. Suppose you are selling Bitcoin, scan the wallet code, and machine will dispense the cash based on your current exchange rate.
Know the Fees
It is very important to note Bitcoin ATMs charge certain fees for the services. The fees will vary depending on your ATM operator, place, and amount of Bitcoin bought and sold. Fees will range from around 3 percent to 8 percent, hence it is necessary you check out its fee structure before you use the Bitcoin ATM.
Besides transaction fees, the Bitcoin ATMs charge an exchange rate, which are generally much higher than current market rate. The markup is how the Bitcoin ATM operators earn their money. But, some bitcoin machines provide lower exchange fees and rates, thus it is worth to shop over to find out the right deals.
Bitcoin ATMs are the easy and convenient way to buy or sell Bitcoin. With some research, you will find the machine close to you and know the fees linked with using this. No matter whether you are the experienced bitcoin investor or a beginner, Bitcoin ATMs will make your life much easier just by simplifying its buying & selling procedure. Why not give this one try and check it out yourself how simple it is to use the Bitcoin ATM? Besides buying or selling Bitcoin, the Bitcoin ATMs support various other cryptocurrencies too.