If you have Bitcoin in you wallet, you can get cash from a Bitcoin ATM. This tutorial shows you step by step instructions on cashing out. However, you should know that Not all Bitcoin ATM machines offer two-way operations. This means they only allow the purchase of bitcoin. In addition, different machines operate just a little bit differently. Explore your options on our blog. It is a great source for the Bitcoin beginner.
CoinATMRadar will help you locate the machines that offer selling option.
Consequently, about 40% of all installed Bitcoin ATMs support sell operations. When you locate the CoinATMRadar Map. Check “Crypto->Fiat” at the bottom to show all locations where you can sell bitcoins. Make sure “Fiat->Crypto” is unchecked in order to hide locations where you can only buy bitcoins.
We have provided a list of Bitcoin ATM machines that provide selling transactions. However, sometimes operators disable the sell operations, so check with them if possible, before you waste a trip.
Get Cash from a Bitcoin ATM with these machines:
- Genesis Coin (only Genesis1 and Satoshi2 machines, Satoshi1 ATM is one-way only)
- General Bytes (only BATMThree model, BATMTwo is one-way machine)
- Some other manufacturers also support sell operations in their machines, however the mentioned above represent the majority of installed units on the market.
When you get cash from a Bitcoin ATM, you will go through the following steps:
- Verification step (optional, but normally for sell operations the operator will require you to identify yourself, however the identification procedure may vary for different machine types, or even operators running similar machines)
- Send bitcoins to the given by bitcoin ATM QR code
- Depending on the settings, you will either get cash out of the machine immediately (may be set for small amounts), or you will be given the redeem code and need to wait for bitcoin transaction confirmations (normally 1 confirmation is used, but depends on the machine and operator, e.g. wallet update of Robocoin ATMs required customers to wait for 6 confirmations before they can get cash)
Explore more about Banking on Bitcoin