Bitcoin continues to attract traders and investors into the crypto market due to its potential for a moonshot, as many experts and analysts have predicted. This crypto asset, trading around $60,000 at the time of writing this article, is giving a positive outlook to sell for gains. But while there are different ways to sell your BTC, we will consider how to sell Bitcoins from Bitcoin ATMs.
An Overview Of Selling Bitcoin From Bitcoin ATMs
It is a widespread belief that crypto trading is one of the best ways to make money online. This can be attributed to how fast crypto assets can increase over time. However, it would help if you did not forget that the value can also tank – which all characterizes the volatility of Bitcoin and the crypto market as a whole.
The installation of Bitcoin ATMs around the world continues to grow with the increasing adoption rates of Bitcoin and other crypto assets like Ethereum, Litecoin, Dogecoin, etc.
There are over 35,000 Bitcoin ATM installations globally, and you can locate the ATM locations using CoinATMRadar, which you can use to locate crypto ATMs in New Zealand, the United States, the United Kingdom, and other countries.
Therefore, you can locate Bitcoin ATMs to buy and sell crypto assets – depending on what asset the machine supports.
Broadly speaking, selling Bitcoin at ATMs is beneficial for:
- Sellers seeking an option to sell Bitcoin without exchange platforms.
- Sellers looking for convenient and local sales.
- Sellers seeking to exchange their crypto for cash quickly.
- Sellers looking for secure options to sell their crypto assets.
How To Sell Bitcoin On Bitcoin ATMs
Here are the quick steps to sell Bitcoin on the ATM:
Step 1: Visit Bitcoin ATM
You need to locate the Bitcoin ATM nearest to you to get started. As earlier mentioned in the article, you can use the CoinATMRadar to find Bitcoin ATMs in your country and your neighborhood.
Step 2: Verify Your Identity
You will need to complete a KYC (know your customer) procedure on the ATM, just as you will do on other exchanges, to verify your identity. This process often depends on the local regulations existing in your country or region.
Step 3: Enter The Amount To Sell
Upon the successful completion of the KYC, you can proceed to enter the amount of BTC that you want to sell. But you must know that a trading fee is attached to using a Bitcoin ATM to sell your BTC. This can range between 5 – 15% of the sale amount.
Step 4: Send Bitcoin To The Provided Address
The Bitcoin ATM will generate a wallet address for your transaction. You can scan the QR Code of the address and send your BTC there.
Step 5: Withdraw Your Cash
You can withdraw your cash once the Bitcoin ATM receives the BTC. This transaction often takes a few minutes to complete, so you need to be patient.
Alternatively, you can sell Bitcoin through another method if there is no Bitcoin ATM closest to you or if you want a platform with a low trading fee. That is Prestmit!
Prestmit is a leading over-the-counter (OTC) digital trading platform on which you can trade your crypto assets easily and quick while ensuring the security of all transactions. Trusted by over 800,000 users, you can sell your Bitcoin on this platform without hassle, and it supports multiple payment options, such as cash and gift cards.
How To Sell Bitcoin On Prestmit
- Visit the official Prestmit website or download the Prestmit app on the Google Play Store or Apple Store.
- Create a Prestmit account and log in.
- Click “Crypto” and choose “Sell Bitcoin.”
- Generate BTC wallet address and download the QR code or copy the address to proceed with the trade.
- Follow the prompts to complete your transaction.
- You will receive payment immediately after the successful confirmation of your transaction.
Frequently Asked Questions (FAQs) About Selling Bitcoins On Bitcoin ATMs
Is It Safe To Sell Bitcoin On Bitcoin ATMs?
It is considerably safe to sell BTC on Bitcoin ATMs. This often reduces the risk of trading on fraudulent platforms that can make you lose your funds.
How Much Is The Trading Fee For Selling Bitcoin On ATMs?
Bitcoin ATMs generally charge higher than other trading options, as the fees can be as high as 15%. This is one of the drawbacks of using ATMs to sell your crypto.
Is There Any Other Better Option Than Bitcoin ATMs?
Yes, you can use Prestmit as a better option over Bitcoin ATMs. Trading fees are relatively low, with no hidden fees or extra charges when you trade on Prestmit. Also, the platform employs sophisticated security features to prevent attacks like identity theft that could put your funds at risk.
Conclusion
Bitcoin ATMs have simplified the process of selling Bitcoin in the quickest possible time. This has made them perfect for sellers seeking to sell without using exchanges.
But as the high trading fees of Bitcoin ATMs can be somehow discouraging, you may want to try another method. That is why Prestmit is available for you round the clock, to enable you to sell your Bitcoin at the best rates and smile to the bank.
