How Do You Use a Bitcoin Machine?

How to Use a Bitcoin ATM Step by Step
By 
Coin Cloud Team
, published on 
August 17, 2020
How Do You Use a Bitcoin Machine?

If you’ve never used a Bitcoin machine (a.k.a. Bitcoin ATM) before, you might be a bit intimidated. All kinds of questions might be running through your head:

     
  • Where do I start?
  •  
  • What do I do?
  •  
  • What happens if I get lost?

We’re going to cover all those questions, so you’ll know exactly how to use a Bitcoin machine.

Where Do I Start?

Every brand of Bitcoin machine is a little different, but they operate on a similar pattern – usually you start by touching the screen, accepting the terms, and entering your mobile phone number.

From there, things can get complicated or simple. If you’re using a CoinCloud, we make the entire process as easy as possible.

What Do I Do?

Here are the step-by-step instructions for using a CoinCloud Bitcoin ATM (BTM). With CoinClouds, you have the option to both buy and sell digital currency, so we’ll give you both sets of instructions.

Note that over 54% of two-way BTMs in the USA are CoinClouds. Most companies have very few (if any) machines that allow you to both buy and sell crypto with cash – but 100% of CoinCloud machines give you the choice, so you can trust that you’re always in control of your money.

How to buy digital currency

1. Press the “Start” button on the screen and accept the terms 2. Enter your mobile phone number 3. Enter the unique identifier code texted to your phone 4. Select the “Buy” option 5. Scan your Bitcoin wallet’s QR code with the BTM camera 6. Insert your bills one at a time 7. Once you have inserted your cash, press the “I’m done” button 8. Your transaction will begin processing on the Bitcoin network 9. Transactions can take approximately 10-15 minutes to process 10. Once the transaction has fully processed you will receive your receipt via text message, and the funds will reflect in your wallet

How to sell digital currency

1. Press the “Start” button 2. Enter your mobile phone number 3. Enter the unique identifier code texted to your phone 4. Select the “Sell” option 5. Select the “BTM” option 6. Enter the amount you wish to withdraw (in denominations of $20, $50 and $100) 7. Scan the QR code that appears on the BTM screen with the camera function on your mobile wallet app 8. On your Bitcoin wallet, enter the EXACT amount the BTM is requesting 9. Send the funds to the QR code you scanned 10. Transactions take approximately 10-15 minutes to process on the Bitcoin network 11. Once the transaction has fully processed, you will receive a text message informing you to return to the BTM to withdraw your funds 12. At the BTM, log in with your phone number once again to retrieve the dispensed cash

It’s worth pointing out that if you’re using the CoinCloud Wallet app, several steps here become faster and easier. First, the app automatically generates the EXACT amount of digital currency that the BTM is requesting. And second, you can set up your sell in advance on the app. Your chosen machine will reserve your cash for up to 48 hours, and you don’t have to wait for a text message or go back to the machine twice.

What Happens if I Get Lost?

We understand that this can seem confusing the first time you’re using a new piece of technology. But don’t worry – our customer service team is here to help you!

If you have questions or need further information or assistance, just call or text our customer support team at 855-264-2046 or email Support@coin.cloud

Disclaimer: The information and views supplied on the Coin Cloud blog are for educational and entertainment purposes only. We are not financial advisors, so please do your research and consult with a trusted financial specialist before investing your money.

What is Coin Cloud?

Founded in 2014 in Las Vegas, Nevada, Coin Cloud is the leading digital currency machine (DCM) operator. With over 4,500 locations nationwide, in 48 states and Brazil, Coin Cloud operates the world’s largest and fastest-growing network of 100% two-way DCMs, a more advanced version of the Bitcoin ATM. Every Coin Cloud DCM empowers you to quickly and easily buy and sell over 40 cryptocurrency options with cash.

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