Bitcoin ATMs have made it easy for people to buy and sell bitcoin. These machines allow people to buy or sell bitcoin using cash or credit cards. Depositing bitcoin at ATM is the process of adding bitcoin to your wallet or account through a Bitcoin ATM. In this article, we will discuss how to deposit bitcoin at ATM.
Step 1: Find a Bitcoin ATM
The first step in depositing bitcoin at ATM is to find a Bitcoin ATM. You can easily find a Bitcoin ATM near you by searching on Google or using a Bitcoin ATM locator app. Once you have found a Bitcoin ATM, you need to visit the location and follow the instructions.
Step 2: Verify your identity
Before you can deposit bitcoin at ATM, you need to verify your identity. Most Bitcoin ATMs require you to scan your government-issued ID or passport. This is to comply with anti-money laundering regulations and prevent fraud.
Step 3: Insert Cash
After verifying your identity, you can proceed to deposit cash into the Bitcoin ATM. Most Bitcoin ATMs accept cash in different denominations. You can choose the amount of cash you want to deposit, depending on the amount of bitcoin you want to buy.
Step 4: Scan your Bitcoin wallet QR code
Once you have inserted cash, the Bitcoin ATM will ask you to scan your Bitcoin wallet QR code. This is a unique code that identifies your Bitcoin wallet. You can find this code in your Bitcoin wallet app or website. Scan the code with the Bitcoin ATM scanner and confirm the transaction.
Step 5: Wait for confirmation
After confirming the transaction, you will need to wait for the Bitcoin ATM to confirm the transaction. This can take a few minutes, depending on the network congestion. Once the transaction is confirmed, the Bitcoin ATM will dispense a receipt for your transaction.
Step 6: Check your Bitcoin wallet balance
After depositing bitcoin at ATM, you need to check your Bitcoin wallet balance. This will show you the amount of bitcoin you have deposited. You can do this by logging into your Bitcoin wallet app or website. Your Bitcoin wallet balance will be updated instantly after the transaction is confirmed.
Conclusion
Depositing bitcoin at ATM is a quick and easy process that allows you to buy bitcoin using cash. Bitcoin ATMs make it easy for people to buy and sell bitcoin without the need for a bank account or credit card. By following these steps, you can deposit bitcoin at ATM and add bitcoin to your wallet or account. It is important to note that Bitcoin ATMs charge a fee for their services. The fee varies depending on the Bitcoin ATM and the amount of bitcoin you want to buy.