How to Sell Bitcoin for Cash via a Bitcoin ATM: A Step-by-Step Guide
- By Ian Cheeseman
- October 6, 2023
The cryptocurrency market has witnessed unprecedented growth in recent years, making Bitcoin a valuable asset for many investors. Whether you're looking to sell Bitcoin for cash due to market conditions or other financial needs,
Bitcoin ATMs offer a direct and straightforward method. In this step-by-step guide, we'll walk you through how to sell Bitcoin for cash using a Bitcoin ATM.
Bitcoin ATMs, sometimes termed as Bitcoin Automated Teller Machines, are physical devices that facilitate users to buy or sell Bitcoin for cash. Their presence is growing, with kiosks popping up in places like convenience stores, shopping malls, and airports.
These ATMs are becoming increasingly popular and are commonly found in various locations, including convenience stores, malls, and airports.
Steps to Convert Bitcoin to Cash Using a Bitcoin ATM
The world of cryptocurrency offers unparalleled financial opportunities, and if you're looking to access the value of your Bitcoin investment in the form of cash, Localcoin's Bitcoin ATMs provide a user-friendly solution. Here's a step-by-step guide on how to effortlessly convert your Bitcoin to cash using a Localcoin ATM.
Step 1: Locate Your Nearest ATM
Begin by finding the Localcoin ATM closest to you. This is as easy as selecting the specific Localcoin ATM location where you wish to withdraw your cash. Please note that your Redeem Ticket is valid only at the selected machine. Finding a Localcoin ATM is a breeze:
- Visit the Localcoin website and click on "Find A Localcoin ATM."
- Enter your address or postal code, and hit "Go."
A list of nearby Localcoin ATM locations will appear. Simply select the one most convenient for you.
Step 2: Specify Your Cash Amount
Once you've chosen your preferred Localcoin ATM, it's time to specify the amount of Bitcoin you want to sell for cash. Localcoin ATMs offer flexibility in this regard. You can enter the desired amount in $50 or $100 increments, depending on the ATM you've selected.
Step 3: Verification
Before proceeding, take a moment to review Localcoin's Terms of Service. Then, provide your mobile phone number, and we'll promptly send you a text message containing a security code. It's essential to ensure your mobile phone number is accurate, as you'll need this code for verification.
Once you've entered your mobile number, expect to receive an SMS text immediately. Enter the PIN code provided to proceed with the transaction.
Step 4: Sending Bitcoin
Now, it's time to send the exact amount of Bitcoin specified for the transaction. You can do this by scanning the QR code provided by the Localcoin ATM. It's important to note that you have 30 minutes to complete the transaction, so ensure you're prepared.
While your payment may take a few minutes to confirm, you'll receive an SMS notification once the transaction is confirmed, informing you that you can now withdraw your cash. In rare cases, it may take up to an hour, depending on network congestion.
Please be aware of this crucial recommendation: We strongly advise sending Bitcoin from your personal wallet, such as Trust Wallet, Blue Wallet, Exodus, etc., rather than an exchange (e.g., Shakepay, Coinbase, Newton). Exchange withdrawals can experience delays.
Step 5: Withdraw Your Cash
When the transaction is ready for withdrawal, head to the Localcoin ATM you previously selected. Once you've received a text indicating that your withdrawal is ready, follow these simple steps:
- Tap the machine's touchscreen and select "Withdrawal Cash."
- Enter your phone number and the one-time passcode delivered to you via SMS/text.
- Choose the transaction you wish to withdraw; the transaction ID will match the one sent to you earlier.
- Voilà! Your cash will be dispensed and ready for immediate use.
Converting your Bitcoin to physical cash at a Localcoin ATM is a straightforward and efficient process, providing you with the financial flexibility you need. Remember to always use your personal wallet for the transaction and enjoy the seamless experience Localcoin offers at your convenience.
Selling Bitcoin for cash via a Bitcoin ATM offers a convenient way to access funds quickly, especially if you prefer physical cash. However, it's essential to be aware of transaction fees, exchange rates, and any identity verification requirements that may apply. Always prioritize security and use reputable Bitcoin ATMs for your transactions.
Bitcoin ATMs are an accessible and user-friendly option for converting your Bitcoin holdings into cash, providing immediate liquidity when you need it. Whether you're looking to cover expenses or simply want to have cash on hand, Bitcoin ATMs can be a valuable tool in managing your cryptocurrency portfolio.
For those seeking a secure means of entering the crypto space, Localcoin offers a non-custodial solution that guarantees complete control over your assets.