What is a Bitcoin ATM?
A Bitcoin ATM or automated teller machine is a kiosk that enables customers to autonomously purchase Bitcoin in exchange for cash. The Bitcoin Kiosk looks and operates similarly to a traditional ATM that you might see at a bank. The entire customer transaction, from account registration to delivery of Bitcoin, is performed at the point-of-sale.
What is a Bitcoin Teller?
Bitcoin Teller's are Exchange Houses that work with us. They have at their window a monitor to show the Bitcoin address and prices and a QR scanner.
How do Bitcoin Teller?
The Teller will explain you the process to purchase Bitcoin in exchange for cash and vice versa. It is similar to traditional Currency Exchange transaction that you might see at a bank.
How do Bitcoin ATMs work?
Bitcoin ATMs or automated teller machines, consist of a monitor, QR scanner, and bill acceptor that enable customers to purchase Bitcoin in exchange for cash autonomously. They appear similar to traditional ATMs that you might see at a bank.
Our Bitcoin ATM's move your purchased cryptocurrency to the users' public key on the blockchain or transfer funds onto a paper wallet receipt.
How much does a Bitcoin ATM charge?
We apply a 7.6% markup rate for all Bitcoin ATM and Teller Window transactions at the time of the customer's purchase.
Our markup rate is based on the Bitcoin Average Index, which is a market-cap weighted index comprised of the major Bitcoin exchanges such as Bitstamp, Bitfinex, and other major marketplaces.
Is there a limit to how much Bitcoin I can purchase?
From a user perspective, Bitcoin is nothing more than a mobile app or computer program that provides a personal Bitcoin wallet and allows a user to send and receive bitcoins with them. This is how Bitcoin works for most users.
Behind the scenes, the Bitcoin network is sharing a public ledger called the "block chain". This ledger contains every transaction ever processed, allowing a user's computer to verify the validity of each transaction. The authenticity of each transaction is protected by digital signatures corresponding to the sending addresses, allowing all users to have full control over sending bitcoins from their own Bitcoin addresses. In addition, anyone can process transactions using the computing power of specialized hardware and earn a reward in bitcoins for this service. This is often called "mining". To learn more about Bitcoin, you can consult the dedicated page and the original paper.
Where do I find a Bitcoin ATM or Bitcoin Teller?
You can visit CoinATMradar.com to find all ATM's and Teller locations.