Buying and selling with RockItCoin’s ATMs is an easy process, and you should know that our machines facilitate transactions and trades with more than just Bitcoin (BTC). We also support Litecoin transactions, Ether transactions, and Bitcoin Cash transactions at all of our kiosks.
As Bitcoin, Bitcoin Cash, Ethereum, and Litecoin continue to grow and become more and more popular, you may find that using a crypto ATM is an easier and more convenient option than online exchanges – especially if you are interested in buying crypto with cash or selling crypto for cash.
With a range of cryptocurrencies available for purchase and sale at RockItCoin’s kiosks, you can be confident that the coin you would like to purchase or sell is within reach. In this article, we will guide you through the process of buying and selling cryptocurrencies at our machines.
Understanding Bitcoin ATMs
A Bitcoin ATM works similarly to a traditional bank’s ATM. RockItCoin’s ATMs are special because we facilitate cash-based transactions in the crypto world! Historically, the only way to purchase or sell crypto using cash was with in person transactions. These transactions are not convenient, because buyers need to find sellers and meet them in person. In person transactions also lack privacy and security. Cash-based ATMs allow crypto users to buy and sell their coins in exchange for cash without risking their privacy or wasting time.
When you are looking for a Bitcoin ATM, you should know that not all machines allow cash purchases or cash sales. You should also know that there is some variation in the transaction options available at RockItCoin’s locations.
- Some machines are one-way machines, which means that you can input cash in exchange for crypto, but you cannot withdraw cash by selling crypto.
- Other machines are two-way, meaning that you can buy or sell crypto in exchange for cash. Buy-only machines are not capable of dispensing cash.
Finding a Bitcoin ATM
Locating nearby Bitcoin ATMs is really easy! Now that you know about the different types of machines, you can decide which option you are looking for: one-way or two-way. Once you have decided to buy or sell crypto, you will be happy to know that RockItCoin has thousands of locations, and our machines are easy to find using our locator map. All you need to do is search your location on the map to find the closest machine. You can filter your search by machine type, selecting “All” machines, “Buy and Sell” machines, or “Buy” machines. You can also direct the search based on distance, so if you would like to see all of the Bitcoin ATMs in a 20-mile radius, you can!
Buying Bitcoin at a Bitcoin ATM
Once you have found a machine to suit your needs, you can make a purchase or sale. When buying Bitcoin at a Bitcoin ATM, the first step will be to select the amount of money you want to spend. The next step will be to verify your identity. RockItCoin machines verify your identity using your phone number and PIN. If you are using one of our machines for the first time, you’ll need to create a PIN. If you are a returning customer, you will use your existing PIN. After your identity has been validated, the ATM screen will prompt you to choose the type of crypto you would like to buy. As mentioned, our machines are equipped to support purchases of Bitcoin, Bitcoin Cash, Bitcoin, and Ether. An important step in making your selection is ensuring that your wallet matches the coin you want to purchase. When you scan your digital wallet, you are telling the machine where the crypto needs to go. Our machines can scan your wallet to be sure there are no errors inputting your address. The final steps to purchasing Bitcoin at a RockItCoin ATM are confirming your wallet address on the screen and inserting your bills to pay for the crypto you have purchased. Take your receipt and wait five to thirty minutes for the crypto to be processed and sent to your wallet!
Selling Bitcoin at a Bitcoin ATM
If you are looking to sell Bitcoin at an ATM, you will select “withdraw cash” on the first screen. You will use the same steps detailed above to validate your identity using your phone number and PIN. The next step will be to select which cryptocurrency you would like to sell. You can sell Bitcoin, Litecoin, Bitcoin Cash, or Ether at any two-way kiosk. Once you have selected the type of coin you want to sell, you will select the amount of cash you want to withdraw.
Next, the ATM’s QR code will pop up on the screen. You will use your RockItCoin app to scan the code. Once the code is scanned, your app will send your funds to the proper address and you will receive a confirmation. After a few minutes, you will receive a text that your funds are ready to be withdrawn. You’ll hit “redeem” on the kiosk screen and enter a redemption code. Then your cash will be dispensed!
Is It Safe To Use A Bitcoin ATM?
A common concern for new customers is the security and privacy in place at crypto ATMs. Fortunately, RockItCoin is the most trusted name in Bitcoin ATMs, and your security is our biggest priority. One way we prioritize your privacy is by facilitating very fast transactions. Using our machines is one of the most efficient ways to exchange crypto for cash. We also take pride in the technology in place that allows our customers to have full control over their wallets and their coins. Unlike other exchanges, RockItCoin does not store your keys. All RockItCoin users have full custody of their coins.
Transaction Fees
Check out this breakdown (https://www.rockitcoin.com/terms-of-service/pricing/) of the fees, conversions, and prices RockItCoin uses to be uniquely convenient, and super competitive.
How Long Does A Typical Transaction Take?
Working through the steps for buying and selling crypto at our ATMs is quick and easy. Once your information has been submitted to the machine, transaction times will vary depending on how busy the network is. When selling crypto, you will need to wait a few minutes before redeeming your cash. When buying crypto at our ATMs, you can expect to wait five to thirty minutes for funds to arrive in your wallet.
Tips for a Smooth Experience
Now that you know how to buy or sell crypto, we should go through some tips to ensure you have a smooth experience. A major tip that all crypto users need to account for is keeping your private keys safe. To access your digital wallet, you will use your private key. The privacy of your keys is of the utmost importance. If someone gets a hold of your private keys, you risk all of the assets in your wallet being stolen. Never give your private key information to anyone.
Another tip is to always double-check the wallet address when sending and receiving funds. When using a RockItCoin ATM, QR codes are scanned to direct your transactions to the accurate addresses. Always double-check that the correct information is in place.
To smooth out your experience, you should always stay informed about the latest developments in Bitcoin ATM technology. The cryptocurrency community is unique because it is very collaborative. The crypto community is known for lively discussion forums online and many crypto users like to join the forums to talk about trends, predictions, and upcoming technologies.
Now that you know all about RockItCoin’s ATMs, including where to find the closest location to you, how to find the machine that suits your needs, and the types of cryptocurrency that we support at our kiosks, you’re ready to dive into cash-based crypto transactions. You can start buying and selling crypto with cash. Check out RockItCoin’s location finder to find a kiosk in your neighborhood and make a plan for your first transactions.
