This is a popular question that we see from users of our Bitcoin ATM kiosks. Do Bitcoin ATMs give cash or is it only possible to insert cash? Can I sell Bitcoin at a Bitcoin ATM or can I only buy Bitcoin?
The simple answer is YES, you can withdraw cash from a Coinsource Bitcoin ATM. And it’s fast and easy. Here’s how:
- To use a Coinsource Bitcoin ATM, you need to have an account with us. It’s easy, free, and quick to enroll with your mobile device.
- Once you have created your Coinsource account, you will need to locate a 2-way (buy and sell capability) Coinsource Bitcoin ATM near you.
- If you’re planning to withdraw cash, that means you already own Bitcoin and have your transactions stored in a wallet.
- You will need to have the wallet address where your Bitcoin is stored. This is your private key. If you have multiple wallets and/or multiple keys, select the one you want to use in this transaction.
- Log in to your account on the Bitcoin ATM, and select the “Withdraw Cash” option.
- Enter the amount of cash you wish to withdraw, and send Bitcoin to the wallet address QR code indicated.
- Once the transaction is confirmed on the blockchain network, you can collect your cash. This typically happens in under 30 minutes.
All Bitcoin operators charge a fee for using the Bitcoin ATM to buy or sell Bitcoin. Coinsource has the lowest fees of all the Bitcoin ATM operators in the United States. This fee is deducted from the amount of cash that you are withdrawing.
NOTE: Not all Coinsource machines support two-way operations yet, and some of our kiosks only allow you to purchase Bitcoin or send cash to someone’s wallet. Be sure to find a 2-way Coinsource kiosk.