Innovation is said to be the invention or a discovery of a new way to solve a problem. The Automated Teller Machine (ATM) was invented to enable clients to run financial transactions such as transfer, cash withdrawal, and others with ease.

Now, ATMs that can enable one to buy Bitcoin have been invented by Cardtronics. An ATM company that provides its services in ten countries spread across Africa, Europe, North America, and Asia-Pacific.

The Cardtronics ATM for Bitcoin doesn’t require an ATM card like most traditional ATMs. The Cardtronics ATM allows you to buy, sell or convert your Bitcoin.

There are different types of Bitcoin ATM such as Genesis1 Bitcoin ATM, Satoshi1 Bitcoin ATM, Satoshi2 Bitcoin ATM, Lamassu Bitcoin ATM, Lamassu with Santo Tirso, BATM2 Bitcoin ATM, BATM3 Bitcoin ATM, BitAccess Bitcoin ATM, BitXatm Bitcoin machine, Robocoin kiosk, and Skyhook bitcoin machine.

How To Use Cardtronics ATM for Bitcoins

One needs to understand the type of Bitcoin ATM as Cardtronics ATMs differ in their specifications and hence the services it can offer.

Generally, a verification step and a deposit Bitcoin address are required. However, this varies with different ATMs and is optional in some as some of the Bitcoin ATMs allow you to buy or sell anonymously. After which you insert cash into the ATM and then confirm the operation.

Using Genesis1 Bitcoin ATM for buying or selling Bitcoin

The Genesis1 ATM requires verification before any transactions are made. An SMS verification, ID card verification, and facial recognition identification are done. Additionally, fingerprint verification may be required.

The Genesis1 ATM can be used for buying, selling, and converting from Bitcoin to cash and cash to Bitcoin. Litecoin and Dogecoin are also supported by Genesis1 ATM.

Procedures to follow when using Genesis1 Bitcoin ATM to buy Bitcoin:

  • Enter your phone number
  • Input the validation code sent to your phone.
  • Scan your fingerprint.
  • Select “Buy Bitcoin”.
  • Choose the coin of choice.
  • Then click scan to scan the QR of your wallet or you can insert cash.
  • Click “Finish” and print the receipt.

Procedures to follow when using Genesis1 Bitcoin ATM to sell Bitcoins:

  • Enter your phone number
  • Input the validation code sent to your phone.
  • Select “withdraw cash”
  • Select Bitcoin
  • Select or input the amount you want to withdraw.
  • Then send the Bitcoin worth of amount to the given address QR code through your wallet.
  • Cash is dispensed.
Using Lamassu to buy Bitcoin

Lamassu is the second most used Bitcoin machine in the world, with its headquarters moved to Switzerland in 2019, Lamassu continues to be the third-largest manufacturers of cryptomats.

Owned by Zach and Josh Harvey, Lamassu uses a decentralized model in its operations. Lamassu supports other cryptocurrencies apart from Bitcoin.

Procedures to follow when using a Lamassu Bitcoin ATM

  • Select “Start”.
  • Scan QR code of Bitcoin address.
  • Insert cash into the ATM.
  • Select “Send”.

It is important to note that bitcoins can be bought and sold anonymously on these Cardtronics ATMs. However, this comes with a surcharge rate within 7- 10% of the transaction carried out.

About the author

Chibuzor Elizabeth Chijioke a graduate of Abia State University is a Nigerian-based entrepreneur and content writer. She trained as a digital marketer at Innovation Growth Hub. She is committed to teaching people how to apply technology to better their lives and businesses. She spends her leisure reading sci-fi and fantasy novels.

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