How to Find a
Bitcoin ATM Near Me
The growing popularity of Bitcoin and other cryptocurrencies creates the need for new and more convenient ways to get hold of these coins. As a result, we have a huge number of online crypto exchanges where you can buy, sell, transfer, and convert digital assets into fiat currencies within minutes.
In October 2013, we also got the first publicly available Bitcoin ATM, a Robocoin machine in the Waves coffee shop in downtown Vancouver, Canada. Today, every big city has a couple of these ATM machines that allow you to buy or sell your bitcoins with even more privacy.
If this is the first time you’re hearing about these machines, you might be curious to know whether your city has them and if it does, where can you find them? In our guide, we’ll explain how these machines function and look into ways to find out the nearest Bitcoin ATM to you.
What Is a Bitcoin ATM?
A Bitcoin ATM, commonly abbreviated as BATM, is a kiosk that lets you buy or sell bitcoins using an automatic teller machine. It’s similar, but not identical to a regular ATM. It’s more like an automatic exchange machine if you will. Most of them only let you buy, i.e. virtually “withdraw” BTC, as we’re talking about digital and not physical coins.
How does this ATM work? To purchase bitcoins, you insert cash or credit card into the Bitcoin ATM which has to be connected to the Internet. However, instead of linking you with your bank account, the ATM connects you to a crypto exchange as a quick way to buy digital coins.
To receive the bitcoins, you’ll need to input your digital wallet’s public address. Next, you insert the desired amount of fiat money you want to deposit in exchange for bitcoins, and the ATM will pull the money out of your credit card or take the cash. Some bi-directional ATMs allow you to convert bitcoins from your digital wallet into cash. The only drawback is that BATMs incur relatively high fees, between 5 and 10%.
Despite the fees, Bitcoin ATMs are very practical to use. Imagine being in a foreign country where you don’t have access to the Internet but need to use your bitcoins or exchange them for cash. Moreover, there’s no need for identity verification as opposed to withdrawing money on online exchanges.
How to Find a Bitcoin ATM?
Usually, Bitcoin ATMs can be found in retail stores, supermarkets, shopping malls, restaurants, or at the airport. But how to know for sure? You’re probably thinking there must be some way to find the nearest Bitcoin ATM without having to roam through all the retail stores and restaurants.
And you’re right! Let’s take a look at the most popular applications that can help you hunt down Bitcoin ATMs.
Coin ATM Radar
Coin ATM Radar is a tracking website that offers a quick way to find the nearest Bitcoin ATM. It’s a user-friendly app that you can download to your mobile device and you’ll never have to worry about finding a teller machine when you’re on the move or travelling.
The radar’s database includes more than 7,000 BATMs around the world. It has an interactive map, a “Find a bitcoin ATM near me” feature, and the option to search an address manually and find the nearest ATM. When you’re planning your next trip, you can simply search for ATMs beforehand and save their location to your phone or ask for Google Map directions.
When you choose an ATM, the app can give you information about the withdrawal fees and limits. It can tell you whether it’s a two-way ATM or there’s only a buying option. Another advantage of Coin ATM Radar is that it supports seven other cryptocurrencies besides Bitcoin, including popular ones like Ethereum and Litecoin.
Other Bitcoin ATM Locator Sites
Coin ATM Radar is the most popular locator site because it lets you look for ATMs worldwide. The rest of the sites are usually based locally, and only show BATMs within a given country or major city.
For example, Findbitcoinatm.com.au, an Australian-based platform that was recently brought down, used to show all the Bitcoin ATMs in the country.
Finally, you have the ATM providers or third-party companies that sell these machines to merchants such as CoinFlip, Bitcoin Depot, Bitnovo, Local Coin, etc. You can visit their websites and check the location of the sold Bitcoin ATMs.
Disclaimer: Digital currencies and cryptocurrencies are volatile and can involve a lot of risk. Their prices and performance is very unpredictable and past performance is no guarantee of future performance. Consult a financial advisor or obtain your own advice independent of this site before relying and acting on the information provided.