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?
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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 :