Bitcoin ATM machines, also known as BTMs, are a convenient and easy way to buy and sell Bitcoin. Coin Cloud is one of the leading BTM providers in the United States. In this article, we will guide you on how to use Coin Cloud Bitcoin ATM machines.
Step 1: Find a Coin Cloud Bitcoin ATM Machine
The first step is to locate a Coin Cloud Bitcoin ATM machine near you. You can find the nearest Coin Cloud BTM by using their website or mobile app. Once you have found the location, make sure to check the hours of operation to ensure that the BTM is open when you plan to use it.
Step 2: Create a Bitcoin Wallet
Before using a Coin Cloud Bitcoin ATM machine, you need to have a Bitcoin wallet. A Bitcoin wallet is a digital wallet that allows you to store and manage your Bitcoin. There are different types of Bitcoin wallets, such as hardware, software, and online wallets. You can create a Bitcoin wallet on your phone or computer by downloading a wallet app or by signing up on a Bitcoin wallet platform. Once you have your Bitcoin wallet, you are ready to use the Coin Cloud BTM.
Step 3: Verify Your Identity
Most Coin Cloud Bitcoin ATM machines require you to verify your identity before using them. You will need to provide a valid government-issued ID or passport. The verification process is quick and easy and takes only a few minutes.
Step 4: Select the Transaction Type
Once you have verified your identity, you can start your transaction. The Coin Cloud BTM offers two types of transactions: buy Bitcoin and sell Bitcoin. If you want to buy Bitcoin, select the “Buy Bitcoin” option on the screen. If you want to sell Bitcoin, select the “Sell Bitcoin” option.
Step 5: Enter the Amount
After selecting the transaction type, you need to enter the amount of Bitcoin you want to buy or sell. The Coin Cloud BTM will display the current Bitcoin price and the amount of Bitcoin you will receive or sell. You can enter the amount in USD or Bitcoin, depending on the BTM’s settings.
Step 6: Insert Cash or Scan Your Wallet
If you are buying Bitcoin, insert the cash into the BTM. The Coin Cloud BTM accepts both cash and credit/debit cards. If you are selling Bitcoin, scan your Bitcoin wallet QR code on the BTM’s screen. The BTM will transfer the Bitcoin to your wallet, and you will receive cash in return.
Step 7: Confirm Your Transaction
Before completing the transaction, the Coin Cloud BTM will ask you to confirm the details of your transaction. Make sure to check the Bitcoin address or cash amount before confirming the transaction. If everything is correct, click the “Confirm” button.
Step 8: Receive Your Bitcoin or Cash
Once you have confirmed the transaction, the Coin Cloud BTM will process your request. If you are buying Bitcoin, the BTM will transfer the Bitcoin to your wallet, and you will receive a receipt. If you are selling Bitcoin, the BTM will dispense cash, and you will also receive a receipt.
Using a Coin Cloud Bitcoin ATM machine is an easy and convenient way to buy or sell Bitcoin. By following these simple steps, you can complete your transaction quickly and securely. Remember to always verify your identity and confirm your transaction details before completing the transaction.