Are you worried about using a Bitcoin ATM in Arizona? You have no reason to be because operating a crypto ATM is almost the same as using a regular cash ATM. Today, you will come across Bitcoin ATMs in convenience stores, shopping centers, airports, and cafes. The idea is to make Bitcoin transactions easier and faster for customers.
How does a crypto ATM work?
Bitcoin ATMs are standalone machines that are a portal for Bitcoin enthusiasts keen to buy cryptos with cash. You will find that some machines offer only BTC while some others can offer other cryptos too.
What you need to know before using Bitcoin ATMs in Arizona:
According to estimates, there are probably more than 14,000 Bitcoin machines globally. So, every time you search for a “Bitcoin machine near me” you will probably find one close by. Companies operating these machines may demand that you use their proprietary wallet or crypto trading platform. Some machines may also have limits for transactions. The FinCen requires that Bitcoin ATM operators in the US must conform to anti-money laundering laws. Therefore, users making very big transactions through a crypto ATM in Arizona may be asked to submit personal ID proof.
How to use Bitcoin ATMs in Arizona:
Like regular cash ATMs, a Bitcoin machine is also linked to the Internet. But, unlike regular ATMs, Bitcoin ATMs will receive dollars from users and give them cryptos in exchange. The coins are sent to the user’s wallet which he must identify by scanning a QR code. The majority of the ATMs will provide real-time exchange rates but may charge fees for the convenience you enjoy. With a Bitcoin ATM, there is no need to create an account on a crypto exchange or wait in line for transactions to get validated. Some Bitcoin machines even dispense cash these days. Normal transactions happen within minutes and you can check your crypto wallet to see if you have received the cryptos you bought.
- You must first find a Bitcoin ATM near you and get a wallet to store your coins. The crypto wallet will track the balance and allow you to access your cryptos using alphanumeric keys. Wallets could be hardware or software wallets depending on your preference.
- You should select the option “Buy” and the crypto you wish to buy from the ATM screen. For instance, if you wish to purchase Bitcoins worth $100, then you need to choose the $0-$500 price range.
- You can use your smartphone to scan the wallet’s QR code. This is the destination address where the Bitcoins you buy will be transferred. For users who do not have one, a paper wallet can be printed from the machine.
- Now, you can put cash bills into the designated area in the ATM. The cash amount gets displayed on the screen as does the equivalent amount of Bitcoins you will buy.
- When you click on “confirm” the purchase is sanctioned. Clicking on “finish” or “done” completes the transaction after which the machine generates a receipt for you. You can now check to see if the Bitcoins have been transferred to the destination address.
The whole process is fast and shows you why transacting through a Bitcoin ATM can be as simple as using a regular cash ATM. For more information on which machine lets you buy Bitcoins and other cryptos check out cryptobaseatm.com. This site not only provides you with accurate Bitcoin machine locations but also tells you whether these machines offer other cryptos.