Bitcoin ATM Withdrawal Guide (2024)

Bitcoin ATMs were one of the first and most popular ways to buy and sell small amounts of Bitcoin, and they still remain one of the most popular ways to do so today. In this article we’ll take a look at how to turn your Bitcoin and crypto into cold, hard, cash by withdrawing from a Bitcoin ATM.

How Do I Find A Bitcoin ATM To Withdraw Cash Near Me?

The first step in using a Bitcoin ATM to withdraw cash by selling your crypto is to locate a machine in your area, which is either a 2 way machine (allows both buying crypto and selling it for cash) or a one way machine that allows you to sell and convert your crypto to cash.

Bitcoin ATM Withdrawal Guide (1)

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This is important because some machines only allow you to purchase Bitcoin or Crypto, and others are 2 way machines which allow both buying and selling, while still others only allow you to sell your crypto.

Step 1: Find a Bitcoin ATM nearby

The best way to find a machine that allows for cash withdrawals is to navigate to CoinATMRadar.

Bitcoin ATM Withdrawal Guide (2)

In the search bar, you can search by city/state/address/country, or use your device’s location to find Bitcoin ATMs near you. You can also further filter the results by machines that let you BUY or SELL, and by crypto assets. We’ll filter with sell, for our purposes, since our goal is to convert crypto to cash.

Bitcoin ATM Withdrawal Guide (3)

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Bitcoin ATM Withdrawal Guide (4)

If you scroll down, you’ll see the list of results, which shows nearby Bitcoin ATMs, operator, proximity, fee rates, discounts, and transaction limits, if available.

Bitcoin ATM Withdrawal Guide (5)

You can also click the “details” button to get more info about a specific machine, which can help guide your decision, such as install date, user feedback, business hours, and which crypto assets the machine is compatible with. You can also check competing Bitcoin ATMs with the best rates for buying and selling, and also the closest alternatives.

Bitcoin ATM Withdrawal Guide (6)
Bitcoin ATM Withdrawal Guide (7)

Choose the Bitcoin ATM that suits your use case best and go to the location. Next, we’ll discuss how to use the Bitcoin ATM once you’ve chosen one. CoinATMRadar lists these Bitcoin ATMs as the most recommended makes/models when selecting a machine to sell your crypto:

Bitcoin ATM Withdrawal Guide (8)

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  • Robocoin
  • Genesis Coin (only Genesis1 and Satoshi2 machines, Satoshi1 ATM is one-way only)
  • BitAccess
  • General Bytes (only BATMThree model, BATMTwo is one-way machine)

Also, make sure you have your phone with a mobile crypto wallet that contains a balance with the crypto you want to sell, when you head to the machine to make your transaction.

Step 2: Create an account (May be optional)

This step is not necessary for all Bitcoin ATM machines. Some machines require you to create an account to make any transactions, while others may require you to create an account or verify your identity if you are planning to make a high value transaction.

Most ATMs don’t require any personal info unless you transact more than $900 USD/per day.

For some machines, the only info you may need to provide is a phone number, and for others, you may need to scan your ID. These variables are dependent on the operator, and state where the machine is located.

What is the maximum amount you can withdraw from a Bitcoin ATM?

As stated above, most machines will allow withdrawals up to $900/per day without providing AML/KYC information. That being said, most machines will allow withdrawals up to $10,000/daily with the user providing AML/KYC verification.

This amount may also be dependent on how much cash the machine has available. You will not be able to withdraw $10,000 if the machine only shows that it has $5,000 cash available.

Step 3: Choose sell crypto or withdraw cash

Different machines may have either a “sell crypto” option which you need to select, and then also select the crypto you’d like to sell, or a “withdraw cash” option which you’ll need to select, and then choose the crypto you’d like to sell.

You may also need to select the amount of cash you’d like to withdraw, either from a list of predetermined amounts, or you may need to manually enter the amount.

Be sure to read the machine’s terms and conditions and verify the fees and exchange rates before you begin your transaction.

Bitcoin ATM Withdrawal Guide (9)

Pay Bills with Bitcoin or Crypto

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What kind of fees do Bitcoin ATMs charge?

Bitcoin ATM fees can differ wildly from operator to operator and for buying and selling. Typically, Bitcoin ATM fees can range anywhere from 6%-25% with the national average in the US being around 11%.

Step 4: Send your crypto to the Bitcoin ATM Machine

After choosing the cryptocurrency you wish to sell and the amount, the machine will display a QR code for you to send your coins to. Scan the QR code with your mobile wallet app to initiate the transaction.

Depending on the cryptocurrency and blockchain confirmation times, the transaction could take several minutes before the machine receives your funds. Most machines will require one onchain confirmation, although some cryptocurrencies may require several onchain confirmations for the transaction to finalize.

Step 5: Withdraw your cash, or receive your redemption voucher

Once the machine detects your transaction, one of two things will happen. Either, you will be able to withdraw your cash directly, or you will be given a redemption voucher that doesn’t expire until you redeem it for your cash.

In the case of redemption vouchers, you may have to wait between 1-6 onchain confirmations, before you can enter the redemption code into the machine and receive your cash. This could take anywhere from 10 minutes to 1 hour. Once the onchain confirmations have occurred, you can enter the redemption code, and the machine will deliver your cash.

In conclusion

Although Bitcoin ATMs may not be the best way to transact in terms of fees, they do offer a quick, convenient, reliable, and secure way to privately buy and sell Bitcoin. They’re a great way to transact in small amounts, without giving up your personal info to invasive AML/KYC regulations.

They are located in many cities, states, and countries, and are oftentimes the only way some people can acquire or trade their Bitcoin and crypto for national currency. Like everything in the cryptosphere, you’ll need to assess if the tradeoffs make sense for your personal use case.


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I'm an expert in the field of cryptocurrencies and Bitcoin, with a deep understanding of the mechanisms involved in buying and selling digital assets. My expertise extends to the practical aspects of using Bitcoin ATMs, and I can provide valuable insights into the process outlined in the article you shared.

Now, let's break down the key concepts mentioned in the article:

  1. Bitcoin ATMs Overview:

    • Bitcoin ATMs are highlighted as one of the earliest and popular methods to buy and sell small amounts of Bitcoin.
    • They remain a popular choice for users looking to convert their Bitcoin and other cryptocurrencies into physical cash.
  2. Finding a Bitcoin ATM:

    • The article emphasizes the importance of locating a suitable Bitcoin ATM, distinguishing between 2-way machines (allowing both buying and selling) and one-way machines (for selling only).
    • CoinATMRadar is recommended as a platform to find nearby Bitcoin ATMs, providing details such as operator, proximity, fee rates, discounts, and transaction limits.
  3. Recommended Bitcoin ATM Models:

    • The article suggests specific Bitcoin ATM makes/models, including Robocoin, Genesis Coin, BitAccess, and General Bytes. These are considered reliable options for selling crypto.
  4. Account Creation (Optional):

    • Some Bitcoin ATMs may require users to create an account, especially for high-value transactions. However, this step is optional for many machines.
    • Personal information requirements vary by operator and location, ranging from a phone number to ID scans.
  5. Withdrawal Limits:

    • Most Bitcoin ATMs allow withdrawals up to $900 per day without AML/KYC information.
    • Withdrawal limits can go up to $10,000 daily with AML/KYC verification, dependent on the machine's cash availability.
  6. Transaction Process:

    • Users can choose between "sell crypto" or "withdraw cash" options, depending on the machine.
    • The article advises users to read terms and conditions, verify fees, and exchange rates before initiating transactions.
  7. Bitcoin ATM Fees:

    • Bitcoin ATM fees vary widely, ranging from 6% to 25%, with a national average around 11% in the U.S.
  8. Sending Crypto to the ATM:

    • After selecting the cryptocurrency and amount, users need to send their coins to the Bitcoin ATM by scanning a QR code.
    • Transaction times depend on the cryptocurrency and blockchain confirmation requirements.
  9. Cash Withdrawal or Redemption Voucher:

    • Once the transaction is detected, users can either withdraw cash directly or receive a redemption voucher.
    • Redemption vouchers may require onchain confirmations before users can enter the code and receive cash.
  10. Conclusion:

    • Bitcoin ATMs are acknowledged as a quick, convenient, reliable, and secure way to transact in Bitcoin.
    • Despite potential fees, they offer privacy benefits by avoiding invasive AML/KYC regulations.

In conclusion, Bitcoin ATMs provide a viable option for individuals to buy and sell Bitcoin, especially for smaller transactions where the convenience outweighs potential fees.

Bitcoin ATM Withdrawal Guide (2024)

FAQs

Bitcoin ATM Withdrawal Guide? ›

Bitcoin ATMs are a way to get immediate access to cash using your bitcoins. Bitcoin ATMs do not operate like traditional ATMs. In order to make a cash withdrawal and sell your Bitcoin from the ATM, the machine provides a QR code to which you send your Bitcoin. You simply wait a couple of minutes and receive your cash.

How do I withdraw money from a Bitcoin ATM? ›

Bitcoin ATMs are a way to get immediate access to cash using your bitcoins. Bitcoin ATMs do not operate like traditional ATMs. In order to make a cash withdrawal and sell your Bitcoin from the ATM, the machine provides a QR code to which you send your Bitcoin. You simply wait a couple of minutes and receive your cash.

Can I send $10,000 through Bitcoin ATM? ›

The amount a Bitcoin ATM can send simultaneously varies depending on the operator and jurisdiction. Generally, limits range from $3,000 to $10,000, but specific amounts may differ. The maximum amount you can deposit depends on the specific machine and operator, but it often ranges from $20 to $10,000.

How much does Bitcoin ATM charge for $500? ›

Understanding Fees at Bitcoin ATMs: What Your $500 Can Get You. When you use a Bitcoin ATM to convert $500 into Bitcoin, the amount you receive in BTC will vary depending on the operator's fee rate: With a 10% fee, you would receive the equivalent of $450 in Bitcoin, after subtracting the fee from your $500.

How to turn Bitcoin into cash instantly? ›

5 Easiest Ways to Turn Bitcoin into Cash Instantly in 2024
  1. Centralized Crypto Exchanges (CEXs)
  2. Crypto Debit Cards.
  3. Peer-to-Peer (P2P) Exchanges.
  4. Bitcoin ATMs (BTMs)
  5. Gift Cards.
Mar 15, 2024

Can you send cash through Bitcoin ATM? ›

Head to the location of the Bitcoin ATM. Insert the amount of cash needed for the transaction, similar to inserting money in a regular ATM. Provide the address of the Bitcoin wallet you want the crypto to be sent to. Confirm the final amount, and check over the details before you finish your transaction.

How does a Bitcoin ATM work? ›

Once the amount of cash you want to exchange for Bitcoin is inserted into the ATM, you can enter your wallet's address or QR code into the machine. The cash will be exchanged for Bitcoin at the current market rate and sent to your digital wallet.

What is the maximum amount you can get from Bitcoin ATM? ›

Bitcoin ATM Limits by Operator

But that means it affects the amount you can purchase per transaction, and sometimes per day. Minimum purchase amounts vary, but they're typically around $20. Bitcoin Depot ATMs require a $20 minimum. The limits max out somewhere between $3,000 and $15,000 per day.

Do Bitcoin ATMs require ID? ›

Typically, Bitcoin ATM operators will ask for a government-issued identification to set up your account. While many Bitcoin ATMs may ask for proof of identification while using the ATM, others only require you to provide a government-issued identification when you register for an account.

Which Bitcoin ATM has the highest limit? ›

Coinhub Bitcoin ATMs offer the highest limits allowing customers to purchase up to $25,000 a day! Just go right to the ATM. Purchase with only your phone number for up to $2,000 instantly at the ATM. For larger amounts up to $25,000, follow the steps on the machine for ID verification.

How much is a $1000 bitcoin transaction fee? ›

The Bitcoin transaction fee for $ 1,000 dollars can vary depending on the current network congestion and the chosen transaction speed . However , on average , the fee can range from $ 0.50 to $ 5.00 .

What is the minimum withdrawal from Bitcoin ATM? ›

The following are the general Bitcoin ATM withdrawal limits per country but remember that it can vary depending on the Bitcoin ATM operator and within states in more significant regions. In terms of minimum withdrawal limits, these will be between $10-$50 and depend on the Bitcoin ATM operator.

Can I use a debit card at Bitcoin ATM? ›

Instead of having to go take out cash and find a cash-to-bitcoin kiosk, you can now buy bitcoin using your debit card from the ATM at many convenient locations. The process is very similar to using an ATM, except instead of receiving cash at the end of the transaction, we will send you bitcoin digitally.

How to cash out Bitcoin at ATM? ›

Selling bitcoin for cash at a Bitcoin ATM
  1. Enter the amount to sell. Depending on local regulations and the amount you are selling, you may be required to verify your identity.
  2. Send bitcoin to the provided address. The Bitcoin ATM will generate a Bitcoin address for your transaction. ...
  3. Take your cash.

How do I get my Bitcoin Cash out? ›

Your two main options for selling Bitcoin Cash into local currency are:
  1. Using an exchange service. An exchange service is a regulated business that interacts with the traditional banking system. ...
  2. Selling peer-to-peer.

Do you pay taxes on Bitcoin? ›

The IRS treats cryptocurrencies as property for tax purposes, which means: You pay taxes on cryptocurrency if you sell or use your crypto in a transaction, and it is worth more than it was when you purchased it. This is because you trigger capital gains or losses if its market value has changed.

How do I withdraw money from Bitcoin to my debit card? ›

Directly transferring crypto to a debit card is not possible. You first need to sell the crypto for fiat currency through a crypto exchange or wallet service and then withdraw money to your card.

How to use Bitcoin ATM machine with cash? ›

How to use a Bitcoin ATM
  1. Step 1: Insert your phone number. Bitcoin ATMs require identity verification. ...
  2. Step 2: Verify your identity. ...
  3. Step 3: Scan your wallet QR code. ...
  4. Step 4: Insert your fiat currency. ...
  5. Step 5: Confirm the amount and complete your transaction.
Aug 17, 2023

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