How do Bitcoin ATM's work? I have a wallet on my computer and wanted to know how would the bitcoins there be transferred to the ATM and exchanged for cash.
Could somebody explain this process to me?
There are various types of Bitcoin ATM's, only some of them offer to sell Bitcoin. Here is a list of some of those types and a good explanation of the selling process:
Typically you receive a voucher and an address to send the Bitcoins to, then redeem the cash using the voucher, after the transaction has confirmed.
Things to consider: KYC level for bitcoin amounts Generation of addresses Confirmation number ATM connected full node Rate exchange And more , but I believe this is the basic.
Following are the steps are followed for the usage of the bitcoin ATM machine :