Just because you’re familiar with Bitcoin doesn’t mean you’re familiar with Bitcoin ATMs. So if you want to know how to use these kiosks, then this series of articles is for you.
Before You Go to the Bitcoin ATM
If you’re new to Bitcoin ATMs, they require a little prep. Here’s what you need to do before you go.
Get a digital wallet
Just like we have physical wallets to store our physical money, you need a digital wallet to store your digital money. Essentially, your digital money must “go” somewhere, and your Bitcoin wallet gives you a place to “store” it, at least figuratively.
In truth, all bitcoins live in the online ledger known as the blockchain and never leave it. So your digital wallet doesn’t contain bitcoins per se, but it does contain your balance and enables you to keep track of your cryptocurrency, just like a physical wallet helps you keep track of your physical currency.
Digital wallets come in various forms–such as web-based, hardware devices and desktop software–but if you’re interested in Bitcoin ATMs, a mobile app or web-based digital wallet will likely suit you best. You can determine what digital wallet works for you via Bitcoin.
Set up your digital wallet and have easy access to it
This advice may seem obvious, but you’ll need to ready your wallet before hitting a Bitcoin ATM. This is simple if you use a mobile app as a wallet–just set up the mobile app.
Otherwise, mobile access changes depending on the wallet type you have. All wallets have “keys,” often in the form of alphanumeric characters, to secure your cryptocurrency. You may need to note this key or download a QR code. Follow the instructions your wallet supplies.
Bitcoin ATM Locations
Once you have your wallet set up, your next step is to find a Bitcoin ATM machine near you. This is easy–just look for them right here on Coinsource’s handy-dandy Bitcoin ATM map. Plug in your ZIP code to receive a list of businesses that host Bitcoin ATMs, along with their addresses and hours.
To use a Coinsource Bitcoin ATM, or anyone’s ATM for that matter, you’ll also need to set up an account. Follow these instructions to do that.
We’ll take you through the process of using a Coinsource kiosk, so stay tuned for the next part in this series!