Bitcoin is a digital currency that can be used to buy things online. It was created in 2009 and has been popular ever since. If you're looking to purchase some Bitcoin, you might be curious about how much Bitcoin you can buy from an ATM. In this article, we'll cover everything you need to know about purchasing from our Bitcoin ATMs and the limit or maximum amount you can buy at one time.
What Is the Maximum Amount of Bitcoin I Can Purchase?
If you're ready to purchase Bitcoin, you're probably curious what the limit is per day. Individuals can buy and sell a maximum of $3,000 worth of Bitcoin every day through Paydepot. Once those 24 hours have passed, you'll be able to begin a new transaction or buy and sell again.
How Do Bitcoin Transactions Work?
Bitcoin is a decentralized form of currency, meaning there are no banks or middlemen involved in the process. Instead, Bitcoin transactions are verified by network nodes and recorded in a public distributed ledger called the blockchain. The blockchain contains every transaction ever processed which makes it very difficult for someone to spend Bitcoins without having access to the private key associated with them or knowing somebody else's address where they're stored. In addition, Bitcoin cannot be counterfeited because cryptocurrencies use cryptographic algorithms instead of physical properties like gold or silver coins.
How Do I Buy Bitcoin at Paydepot ATMs?
To buy Bitcoin, you'll need a valid form of identification that includes your photo and address. Then, you'll want to find the closest location to your area. We have tons of ATMs available for your convenience. From there, simply follow these steps:
- First, you'll want to select the "Buy" button on the screen.
- The terms and service agreement will then pop up. Read through the conditions and when you're ready, select the green "Next" followed by the "I Agree" button.
- The system will then prompt you to enter your phone number. Once you've finished filling that out, you'll click the "Next Button."
- From there, you'll receive a one-time verification code sent to your phone number. Enter the one-time password and select next.
- Once confirmed, you will see two options pop up on your screen. The first will allow you to buy Bitcoin from $0 - $800, and the second will allow you to buy from $800-$3,000. Select the option that best fits the transaction you're looking to perform and click "Next."
- From there, you'll need to scan your wallet address QR code. Once the system correctly reads your QR code, a pop-up will appear on your screen asking to confirm that this wallet is linked with your name. Click the green "I Confirm" button to move forward.
- You're now free to enter your cash! Insert your bills into the machine. The amount you put into the device will show up on the screen.
- Select the "Buy" button to confirm the payment.
- Once your payment is processed, you'll get a printed receipt. To finish out your transaction, select "OK" to complete the payment.
- You've now completed your Bitcoin transaction! However, this can take anywhere from a few minutes to 24 hours to show up in your wallet, so don't be alarmed if you don't see the transaction in your account right away.
Buy Your Bitcoin with Paydepot's Machines Today!
If you're looking for a convenient and easy way to buy Bitcoin, our Bitcoin ATMs are the perfect solution. With an expansive network of locations nationwide, we're able to offer this service in many more places than most other ATMs, along with one of the highest Bitcoin maximums available for your buying and selling convenience.
Plus, with Paydepot's customer-focused approach and reliable 24/7 support team available when you need us, there are few reasons not to choose Paydepot over any other option out there. Click here to locate one of our ATMs near you to get started!
The information provided contains opinions of the author or editorial staff regarding investment, tax, or financial information. Such articles are provided for general informational purposes only and do not purport to provide specific legal or other professional advice. This information provided is in no way a solicitation to sell or purchase cryptocurrencies in any way. The recipient agrees that the authors, owners, and publishing agents of this article have no liability whatsoever for the material presented here, as we do not offer any brokerage or advisory information.
PAYDEPOT doesn’t give any advice or recommendations!
For financial advice, contact a professional consultant.