Bitcoin ATMs have become popular in recent years as they offer a convenient and easy way to buy and sell Bitcoin. These machines are also known as BTMs or Bitcoin kiosks and are available in various locations around the world. The best part about these machines is that they are user-friendly and allow you to send Bitcoin to another wallet address. In this article, we will look at how to use a Bitcoin ATM to send Bitcoin.
Step 1: Locate a Bitcoin ATM
The first step is to find a Bitcoin ATM near you. You can use websites such as Coin ATM Radar or Bitcoin ATM Map to locate a machine near you. Once you have found a machine, ensure that it supports Bitcoin sending. Not all Bitcoin ATMs allow sending Bitcoin, so it is essential to check beforehand.
Step 2: Verify your identity
After locating a Bitcoin ATM, you will need to verify your identity. Most Bitcoin ATMs require that you provide some form of identification, such as a driver’s license or passport. Some machines may also require your phone number, email address, or even a fingerprint scan. The verification process is to ensure that you are not using the machine for illegal activities, such as money laundering or terrorism financing.
Step 3: Enter the recipient’s wallet address
Once you have verified your identity, the next step is to enter the recipient’s Bitcoin wallet address. The wallet address is a unique string of characters that represents the recipient’s Bitcoin wallet. You can either enter the wallet address manually or scan a QR code of the recipient’s wallet address.
Step 4: Insert cash
The next step is to insert cash into the Bitcoin ATM. Most Bitcoin ATMs support various denominations of cash, such as $5, $10, $20, $50, and $100 bills. The machine will then calculate the Bitcoin value based on the current exchange rate and deduct any fees for using the machine.
Step 5: Confirm the transaction
Before completing the transaction, the Bitcoin ATM will show you a summary of the transaction, including the Bitcoin value, fees, and recipient’s wallet address. You will need to confirm the transaction before the machine sends the Bitcoin. Once you confirm the transaction, the machine will send the Bitcoin to the recipient’s wallet address.
Step 6: Wait for confirmation
After sending the Bitcoin, you will need to wait for confirmation on the blockchain network. The confirmation time can vary from a few minutes to a few hours, depending on the network congestion and transaction fees. Once the transaction is confirmed, the recipient will receive the Bitcoin in their wallet.
Conclusion
Bitcoin ATMs have made it easier for anyone to send Bitcoin to another wallet address. By following the steps above, you can send Bitcoin using a Bitcoin ATM easily. However, it is essential to note that Bitcoin ATMs may charge high fees compared to other methods of sending Bitcoin. Therefore, it is essential to compare the fees and exchange rates before using a Bitcoin ATM.