How to withdraw from a Bitcoin ATM
Previously, I've described how to convert your cash to Bitcoin and other cryptocurrencies at a Bitcoin ATM. But, did you know that some Bitcoin ATMs allow you to sell your Bitcoin for cash? It's true! If you're looking to convert your Bitcoin to cash easily, safely, and fast, then look no further.
Bitcoin ATMs are a great option for selling your cryptocurrency because, depending on the size of your transaction, all you need is a digital wallet, a mobile phone, and some cryptocurrency you are willing to exchange for cash. You do not need a bank account when using a Bitcoin ATM, and transactions take only a few minutes.
In this guide, I will explain, step by step, how to sell your Bitcoin and withdraw cash at a Bitcoin ATM.
If you are a total beginner at Bitcoin and cryptocurrency, I highly recommend starting with this article: A Beginner's Guide to Buying Bitcoin.
Additionally, if you are interested in buying bitcoin and other cryptocurrencies at a Bitcoin ATM, check out this step-by-step guide: How to Use a Bitcoin ATM
Selling Cryptocurrency for Cash at a Bitcoin ATM
Step 1 - Find your closest Bitcoin ATM
To withdraw from a Bitcoin ATM, you will first need to find your closest Bitcoin ATM that allows you to sell. To do this, type your zip code into the ATM Locator online, and be sure to apply the filter "Buy and Sell."
Please note that not all CoinFlip Bitcoin ATMs allow you to sell your bitcoin and withdraw cash. This is why using the "Buy and Sell" filter is essential.
Once you've found your closest "Buy and Sell" ATM, be sure that there is a purple marker next to the location you have selected. The purple location marker indicates that this machine can facilitate two-way transactions and allow you to both buy and sell bitcoin.
Step 2 - Select the crypto you want to sell
After you've arrived at the nearest Bitcoin ATM that allows you to sell cryptocurrency and withdraw cash, you must select which crypto you would like to sell.
Currently, you can only sell Bitcoin and Litecoin at a CoinFlip ATM.
So, select Bitcoin or Litecoin, then proceed to the next step.
Step 3 - Accept the terms and conditions
Next, the Bitcoin ATM will present you with CoinFlip's very detailed service terms that you can find online here.
Step 4 - Select your cash limit
After accepting the machine's Terms of Service, you will be prompted to select a cash limit. You have two options: "up to $900", or "more than $900".
If you plan on withdrawing less than $900, select "up to $900" and proceed to the next step.
Suppose you plan to withdraw more than $900. In that case, you will be notified that this transaction amount is reserved for registered customers only. At this point, you can select "Yes, I'm already a registered customer," where it takes you to Step 5 below.
If you select yes and you are not a registered customer, an error message will be displayed.
Alternatively, you can select "No, but I would like to register." If you choose this option, the machine will ask for your phone number. After you enter that and submit a confirmation code, you will be asked to provide additional identification. In this case, you will skip step 6 below.
To learn more about CoinFlip's identification requirements for all transactions, including those greater than $900, read this article: Do You Need an ID for a Bitcoin ATM Transaction?
Step 5 - Enter Phone Number
Next, you will be prompted to enter your phone number so that you can receive a single-use password that is necessary to move forward with the transaction. You will receive a text message with the password.
Step 6 - Select the amount you wish to sell
After confirming your phone number and name on the Bitcoin ATM, you will be prompted to enter the amount of Bitcoin or Litecoin you wish to sell.
Depending on the machine, you will only be able to sell in increments of $20 or $100.
To add increments of $20, press the "$20" button on the right side of the screen until you have reached the appropriate amount. To add increments of $100, press the "$100" button until you have got the correct amount.
Step 7 - Scan the QR code with your digital wallet application
After deciding the amount of crypto you would like to sell, the Bitcoin ATM will print a QR code receipt. Now, you will need to open your crypto wallet app on your smartphone. Using your crypto wallet app, you will need to send the exact amount of Bitcoin or Litecoin listed to the CoinFlip wallet address by scanning the QR code.
Step 8 - Wait for one network confirmation
After sending the exact amount of crypto to CoinFlip, you must wait for one confirmation of your transaction on the blockchain. Depending on which crypto you are selling, this can take a few minutes. Once your transaction has been confirmed, you will receive an automated text message stating that your funds are ready for withdrawal. If it has been a few minutes and you haven't received a text message, please call customer service at (773)-800-0106.
Step 9 - Redeem your Cash
After there has been one confirmation of your transaction on the blockchain, you can redeem your receipt for cash at the ATM. Just scan the QR code on the ticket with the camera on the ATM. You will be prompted to enter your phone number, once again, to confirm your identity. Once you have established your identity, the machine will dispense your cash,
Please note that sell receipt tickets are only valid for 45 minutes after they are printed, so it is important to complete this transaction during this window of time. If, for any reason, it has been longer than 45 minutes since the receipt was printed, please call customer service at (773)-800-0106, and they can revalidate the ticket for withdrawal.
If you need a receipt and did not select to have it sent to you on the final green screen of your transaction, have no fear! You can have your receipt sent to you via text message by calling customer support at (773)-800-0106 and selecting option 1.
Withdrawing from a Bitcoin ATM is simple, safe, and speedy. If you have any trouble at all, our customer support team is available to assist 24/7, 365 days.
Using a Bitcoin ATM is one of the fastest, safest, and easiest ways to withdraw Bitcoin and Litecoin for cash. With low fees, a large network of Bitcoin ATMs, and the most reliable customer support, CoinFlip is the best way to sell cryptocurrency fast. Kickstart your crypto journey today! Find your closest Bitcoin ATM to get started!
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