Convert Cash to Cryptocurrencies at a Bitcoin ATM

You’ve done the research. You’ve downloaded your crypto wallet. You’re finally ready to take the plunge and buy some bitcoin. Cash in hand, you approach the CoinFlip Bitcoin ATM and wonder:

“Okay, so how does this work?”

In this article, we’ll cover the entire process of buying crypto at a Bitcoin ATM, from finding the ATM nearest you to the fees you can expect to pay.

CoinFlip ATM Locations

First, you need to find one! Just type your address or zip code into our ATM locator and you’ll get matches for the 10 nearest ATM locations. You can also select Buy-only ATMs, or ATMs capable of both buying and selling. Clicking into any listing will show the full address, hours of operation, and our Customer Support number if you have any questions.

Registering for CoinFlip ATMs

You can pre-register for ATMs here and save time at the machine! You'll even get a discount once approved.

When you arrive at the ATM, you’ll be prompted to select which cryptocurrency you’d like to buy. You can find a comprehensive list of our coin offerings, along with brief descriptions, here. Please note, the cost of each coin will be displayed onscreen to provide pricing transparency.

At the top you will see a warning against participating in any scams. Please read it carefully. If you think you might be engaged in a scam, please call our support line at 877-757-2646.

The Terms of Service also serve as a reminder about the nature of cryptocurrencies. Namely, they are not legal tender and are not backed by any government or financial institution, meaning they are not subject to Federal Deposit Insurance Corporation (FDIC) or Securities Investor Protection Corporation (SIPC) protections.

This means all crypto transactions are final and irreversible, even if they happen to be fraudulent. Make sure you carefully read over the Terms of Service and stay vigilant.

ATM LIMITS AND INSERTING CASH

Once you’ve accepted the Terms of Service, you’ll be asked to select how much crypto you’d like to buy. You’ll have two options:

1. Up to $960

2. More than $960

If you select “Up to $960,” you’ll be prompted to input your name and date of birth, as well as your phone number. You’ll receive a One Time Passcode sent by text to verify your phone number, and then you’ll be able to transact.

If you select “More than $960,” the ATM will still ask for your name, birth date and phone number, and you’ll still need to enter the One Time Passcode to move forward. It will also send a link to your phone via a separate text message. This link will take you to our identity verification partner Veriff.

Follow the prompts on the Veriff website, which will include taking photos of the front and back of your valid, government-issued photo ID, as well as a selfie. When you finish, you’ll be notified if your Registration is complete, or if further information is required. You may be prompted to call our Customer Support team to complete your Registration.

Once registered, you’ll have a daily transaction limit of $2995.00*, and you’ll be ready to purchase at the ATM.

*Please note limits can vary by location. If you have any questions, please call our 24/7 Customer Support team at 877-757-2646.

Next, you’ll be asked to scan your crypto wallet at the ATM. All crypto wallets have a built-in QR code, often labeled as “Receive.” You can scan your QR code using the built-in camera on the ATM, usually located at the top left of the machine. Once you do this, the ATM instantly knows where to send your crypto.

Now you’re ready to insert your cash and convert it to crypto!  Before you do, the ATM will give you an opportunity to enter a discount code. If you have a code, the discount will be deducted from your transaction fees.

When inserting cash, make sure to enter your bills one at a time. The minimum transaction amount at a CoinFlip Bitcoin ATM varies by token. For example, the minimum for Bitcoin is $10, but the minimum for DOGE is $5. Our ATMs accept all denominations, except for $1 bills. Once you’ve finished inserting your cash, the ATM screen will display the total amount of crypto you will receive. It’s important to note that all transaction fees (minus any discount code entered) are included in the price of the cryptocurrency sold.

CoinFlip ATM Fees

The fee for purchasing crypto from a CoinFlip Bitcoin ATM varies by location and token. This fee is added to the cryptocurrency’s market price, which CoinFlip determines using index prices. Altcoins like Ethereum and DOGE tend to have lower transaction fees in general. We also have a number of lower-fee ATMs in our fleet. If you would like fee information for a specific CoinFlip Bitcoin ATM, please call our 24/7 Customer Support team and one of our agents will be happy to assist you.

The blockchain also has its own fluctuating fee given to network miners as a reward for processing transactions. You will be charged this network fee as well, which is a minimum of $2.99 for all bitcoin purchases, and variable for other tokens. The variable fee is determined by how busy the blockchain is.

ENJOY YOUR CRYPTO!

And that’s it! Select “Buy Crypto” on the ATM and you’re all done! Once your transaction transmits to the blockchain, you’ll receive a receipt sent to your phone by text message. If you do not receive a receipt, have no fear! You can request a receipt be resent by calling 877-757-2646 and speaking with one of our Customer Support team members.

It may seem like a lot, but breaking the process down should hopefully reinforce just how easy it is to purchase crypto for cash at a CoinFlip Bitcoin ATM. And if you have any trouble at all, our Customer Support team is available 24/7 by phone, email or chat!