Bitcoin is a digital currency that has exploded in popularity over the past few years. As more and more people become aware of Bitcoin and purchase from Bitcoin ATM kiosks, they wonder if they can sell their Bitcoin and receive cash back from the same machine. The short answer is yes. You can sell your Bitcoin for Cash at a Bitcoin ATM with Paydepot. It's fast, easy, and convenient to partake in this process.
In this article, we'll cover the exact steps you need to take to sell your Bitcoin for cash at a Bitcoin ATM with Paydepot, ensuring that you can get your funds fast! Remember to use our online BTM locator to find the nearest location to you to get started.
1. Choose the Sell Option on the Bitcoin ATM
First things first, you'll want to find your nearest Bitcoin ATM and review the selling price located on the screen. This will give you an indication of what rate your Bitcoin is being sold for at that particular moment. Once you've agreed to the exchange rate, click the Sell button to start your transaction.
2. Read Through the Selling Process of Bitcoin
The next screen will show you the steps you'll need to take to process your transaction. Make sure that you have all forms of identification, your mobile phone, and wallet access before continuing with this process. You can choose to either print out the instructions or just review them and move on to the next step.
3. Choose Your Withdrawal Option
The next screen will ask about your withdrawal preference. The Paydepot ATM offers two options: You can either choose to sell your cryptocurrency, which will send you a code for cash withdrawal; or you can take cash out if you’ve already sold your cryptocurrency. For this transaction, click on sell cryptocurrency to move to the next screen.
4. Read Through All Legal Information
The following screen will show a list of terms and conditions for selling cryptocurrency through Paydepot’s ATM. It's essential to take the time to read through the entire document, which includes Paydepot’s terms and conditions.
5. Accept Paydepot’s Terms of Service
Scroll through the entire document and click "Next." This will automatically pop up a screen that asks if you accept the terms of service. In order to proceed with your transaction, click "Yes" to be redirected to the next section.
6. Enter Your Phone Number
Next, you'll be prompted to enter your area code, followed by your seven-digit phone number. Make sure only to put a number that you have immediate access to as you'll need it to continue the verification number. Once you've entered your number, click the "Next" button.
7. Enter Your SMS-Code
In order to confirm your identity and phone number, you'll be sent a one-time SMS code to your smartphone. Enter the five-digit code in order to move on to the next step. This might take between a few seconds to a minute before your phone receives the code, so don't worry if you don't receive it right away.
8. Enter the Withdrawal Amount
Next, you'll be able to choose how much money you want to withdraw from your account. It's important to note that you'll need to take a minimum of $20.00 out of your account in order to use the ATM. The available notes will appear at the bottom of the page in the blue box. Once you've entered the amount of money you would like to withdraw, click the "Next" button.
9. Scan the QR Code
A unique QR code will appear on the next screen, which, when scanned by your phone, will send over the exact amount of Bitcoin to the server, plus the network fee, for you to receive your cash. It's essential to do this step immediately as you only have 599 seconds to finish the order (10 minutes) before your request will time out. If you have a timed-out request, you'll need to go back to the beginning and restart your transaction.
10. Wait for the Transaction to Appear in the Blockchain
You won't be able to completely finish out your transaction until it appears in the blockchain. This can take anywhere from a few seconds to a few minutes, so don't worry if it doesn't finish right away. Once it's processed, you're able to finish this transaction.
11. Choose Cash Withdrawal
Next, we'll need to go through the Paydepot ATM process again in order to take out the funds you’ve just requested. To do this, you're going to choose the "Sell" button located on the front screen. Read through the steps of the process and click next. You'll then arrive back at the Cash Withdrawal options. This time, you're going to choose "Cash Withdrawal" instead of "Sell Cryptocurrency." Then, follow the prompts to re-verify your phone number again through the ATM.
12. Choose the Sum You Want to Redeem
On the following screen, you'll be able to choose the request you want to redeem. A list of any cryptocurrency you've sold and can redeem for cash will show on this screen. Choose the sum you wish to receive in cash and click "Next."
13. Enter Your 6 Digit Redeem Code
You will then be prompted to enter your redeem code. This is the code that will release the specific set of funds you want from the ATM. Make sure to enter this six-digit code and click "Next."
14. Confirm the Amount of Money
Before you can finish your transaction, a screen will pop up to confirm the details of your transaction. Then, to proceed and receive your money, click OK. From there, the ATM will process your transaction, and you will receive your cash!
Final Notes
If you're looking for an easy way to sell your Bitcoin for cash, using Paydepot is the perfect solution. Not only is it transparent and straightforward to understand the process, but you'll be able to get the money you want now without having to wait days on end to have access! Find one of our locations today 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.
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