Understanding the mechanics of an atm bitcoin purchase

[Old_fogey]

I'd like to understand how to make a cash atm puchase of bitcoin. Transfer to a desktop wallet for subsequent use.
Thanks

[Nwada001]

I would never advise you to make use of a Bitcoin ATM to purchase bitcoin. The charges are extremely high, however. Why not make use of other means of purchase like ? Hodlhodl if what you are after is protecting your privacy.

[Rikafip]

It's fairly simple really: you click on "Buy" button on ATM, choose the amount you wanna buy (in fiat) and then BATM asks you to show QR code of your mobile wallet (BATM scans it) to they know eher to send bitcoin. After that is done, you insert the bills and that's about it. Once you come home you move bitcoin somewhere safer, preferably to a hardware wallet.

I would never advise you to make use of a Bitcoin ATM to purchase bitcoin. The charges are extremely high, however. Why not make use of other means of purchase like ? Hodlhodl if what you are after is protecting your privacy.

While its true that BATM fees are generally higher than the other means, you don't know OP's situation so maybe for him that's the most convenient option. Or maybe he just wants to know how those machines operate.

[Charles-Tim]

I'd like to understand how to make a cash atm puchase of bitcoin. Transfer to a desktop wallet for subsequent use.
Thanks

You can check YouTube videos for it. It is very simple to use.

Why not make use of other means of purchase like ? Hodlhodl if what you are after is protecting your privacy.

It depends on the ATM operator and regulatory rules to follow where the bitcoin ATM is located. Also nearly all ATMS will require phone number verification, if not all. Crypto ATMs privacy is becoming more impossible because of AML and CTF policies.

The most common of the two bitcoin ATMs in my country Nigeria according to Coinatmradar required phone number verification for transactions below $100 while ID document verification for transactions above $100.

Just like you have posted already, for privacy, it is good to use a decentralized exchange like Bisq.

[tbct_mt2]

Bitcoin ATMs charge you high transaction fees between 6.5% to 20%. I don't think you will want to use it if you have other options and in reality you have other options like Bisq, Paxful and other marketplaces which can be centralized exchanges or decentralized,  peer-to-peer exchanges/ marketplaces.

Current list of exchanges without KYC

After buying, you can store your bitcoins in Bitcoin Core (weight) or Electrum (light).

[GUIDE] How to Safely Download and Verify Electrum

[BitMaxz]

It's very simple you just deposit the cash into Bitcoin ATM and put your wallet address and confirm.
The only problem is some Bitcoin ATMs have some requirements like you need to be KYC verified or just provide a phone number.

If you don't want to do KYC providing a phone number is fine but the amount of Bitcoin you can able to buy is limited compared to KYC verified.

You can use https://coinatmradar.com/ to find Bitcoin ATMs that only requires mobile phone number and to check other requirements they need before you can able to buy BTC and it can also provide some details about fees.

[bullrun2024bro]

You can use https://coinatmradar.com/ to find Bitcoin ATMs that only requires mobile phone number and to check other requirements they need before you can able to buy BTC and it can also provide some details about fees.

Yep agree.

I would also recommend CoinATMRadar. They basically list every Bitcoin ATM available worldwide. Just check here to find a location which is close to you: Bitcoin ATM Near Me Search

If you selected the ATM you want to use, just the check ATM's profile page to get all information you need for a purchase. You basically need cash & a Bitcoin wallet.

In addition to that, if you still have questions about the Bitcoin ATM process itself, just check their FAQ & knowledge base: Bitcoin ATM Knowledge Base

[Old_fogey]

Thank You All very much for the help  :-)

[sheenshane]

Thank You All very much for the help  :-)

Feedback us here when you've successfully purchased.

Transfer to a desktop wallet for subsequent use.

If you've enough budget for the wallet, it's better to buy or purchase a hardware wallet, it's totally safe for storing your Bitcoin.
In incase you're choosing the right one, here's a list, [BIG LIST] Hardware wallets (80+)

Bitcoin ATMs charge you high transaction fees between 6.5% to 20%. I don't think you will want to use it if you have other options and in reality you have other options like Bisq, Paxful and other marketplaces which can be centralized exchanges or decentralized,  peer-to-peer exchanges/ marketplaces.

Not only with high fees, but it also has lower exchange rates compared to other exchange platforms, which can result in you paying more for Bitcoin than you would on a traditional exchange that is suggested above.

[Cryptoababe]

Thank You All very much for the help  :-)

Feedback us here when you've successfully purchased.

Transfer to a desktop wallet for subsequent use.

If you've enough budget for the wallet, it's better to buy or purchase a hardware wallet, it's totally safe for storing your Bitcoin.
In incase you're choosing the right one, here's a list, [BIG LIST] Hardware wallets (80+)

Bitcoin ATMs charge you high transaction fees between 6.5% to 20%. I don't think you will want to use it if you have other options and in reality you have other options like Bisq, Paxful and other marketplaces which can be centralized exchanges or decentralized,  peer-to-peer exchanges/ marketplaces.

Not only with high fees, but it also has lower exchange rates compared to other exchange platforms, which can result in you paying more for Bitcoin than you would on a traditional exchange that is suggested above.

So this implies that purchasing bitcoin via atm is very expensive. Its better to use p2p then. Its been safe so far. Most centralised exchanges support p2p for every country and even buying with credit cards.

[Upgrade00]

So this implies that purchasing bitcoin via atm is very expensive. Its better to use p2p then. Its been safe so far. Most centralised exchanges support p2p for every country and even buying with credit cards.

Centralized exchanges can also be relatively expensive to use, considering that most of them use a fixed fee to avoid having tanssctions stuck in the mempool due to feerate changes after the transaction was made, or to make some profits from the fees in addition to charges.

OP might be on the lookout for a privacy option, in which case P2P on centralized exchanges would not cut it.