I have a close friend living overseas who I wanted to send money to. They suggested using a Bitcoin ATM instead of other methods. What is the suggested best way or method for me to use this method?


Ask your friend to send you their Bitcoin receiving address - they should use their Bitcoin-Wallet to create and show them a new receiving address for this transaction. They can then send you the Bitcoin-address in email etc. It will look something like one of the following examples (don't use these):
bc1qar0srrr7xfkvy5l643lydnw9re59gtzzwf5mdq or
3J98t1WpEZ73CNmQviecrnyiWrnqRhWNLy or
They can instead send you a QR-barcode that you might be able to scan into the Bitcoin machine. This is probably less prone to mistakes. If you make a mistake the money is lost - bitcoin transactions cannot be undone, cancelled, or reversed.

At the Bitcoin machine, make sure it is not creating a new wallet or a new account with some business but is instead sending the purchased BTC directly to an address of your choice. The details depend on the make and model of Bitcoin machine. You may have to choose some specific options on the machine. Enter or scan your friend's address as the receiving address and double-check it. Make a note of any transaction-ID and/or keep any paper receipt.

Your Answer

By clicking “Post Your Answer”, you agree to our terms of service, privacy policy and cookie policy

Not the answer you're looking for? Browse other questions tagged or ask your own question.