How to send money to someone via Bitcoin ATM? (2024)

FAQs

How to send money to someone via 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.

People may use Bitcoin ATMs for legitimate reasons, but scammers may use them to try and steal your hard-earned money. Once someone converts or sends money through cryptocurrency, it is difficult for law enforcement to recover the funds. Follow our tips to avoid being scammed when you use Bitcoin ATMs: Read carefully.

Using a Bitcoin ATM with a debit card to send money is an efficient, secure way to engage with the world of cryptocurrencies. By following these detailed steps, you can ensure that your transactions are not only successful but also safe.

Depending on the company, Bitcoin ATM operators will typically implement maximum limits between $3,000 – $10,000. Many Bitcoin ATMs also have minimum limits, but this varies greatly depending on the provider.

Bitcoin ATMs offer a way for users to buy and sell their cryptocurrency in public spaces, offering accessibility, convenience and a user-friendly interface.

Bitcoin ATM fees vary due to operational costs, geographical location, and the specific operator. Bitcoin ATMs fee ranges from 7.5% to 25% so for: 500$ the fees will range from 37.5$ to 125$. 1000$ the fees will range from 75$ to 250$.

A Bitcoin ATM is not the same as an automated teller machine (ATM) that allows bank customers to physically withdraw, deposit, or transfer funds in their bank account. Rather, Bitcoin ATMs produce blockchain-based transactions that send cryptocurrencies to the user's digital wallet, often via the use of a QR code.

How to pay someone with bitcoin? ›

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.

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.

A. CEX.IO accepts both debit cards and credit cards and you can use them either for instant fiat deposits and direct crypto purchases. To buy Bitcoin with a debit card instantly, open the Buy/Sell page, choose the amount and click Buy.

In addition to cash, you may be able to pay with credit card, payment app, etc. Receive the bitcoin in your Bitcoin wallet. This generally takes a few minutes. The Bitcoin ATM will provide you with a transaction ID that you can use to monitor the status of the purchase.