Advice When Buying Bitcoin From A Bitcoin Exchange ATM

Posted on: 21 December 2020

Bitcoin ATM machines exist today for those that want to either buy or sell bitcoin. If you're heading to one of these machines to specifically purchase bitcoin, you want to take these measures so that you have a stress-free shopping experience.

Review Transaction Fees Ahead of Time

Even though you're putting in money into a bitcoin exchange ATM to purchase bitcoin, you'll still have to pay a transaction fee. These are pretty standard today, but they will vary depending on the bitcoin ATM machine that you use.

If you want to cut costs, then take your time assessing these ATM transaction fees. You can always pull up a list of nearby bitcoin ATM machines and find out their transaction fees in advance. You will see very quickly which ATM machine is the most affordable to use when purchasing any amount of bitcoin. 

Start Out Gradual

With something as new as bitcoin, you want to be gradual with how you buy it from a bitcoin exchange ATM. This allows you to see how your investments do over time, and if you like what you see, you can continue to invest and continue to make money.

Whereas if you rushed into this process and bought a bunch of bitcoin, you might actually experience loss, and that could be enough to put you off this digital currency altogether. You want to avoid this if you can by starting off gradually. Then, once you have more experience, you can up your investments if you so choose.

Confirm the Sale

Once you put your money into a bitcoin exchange ATM and the machine says your purchase has processed, you still want to hold off on leaving the machine and instead confirm the sale.

Check your wallet or bitcoin account to make sure the money you just put in the machine properly registered. Most of the time it will, but if it doesn't, at least you'll know right there before driving all the way back home. You can then have the issue taken care of by a bitcoin exchange ATM technician or support representative.

Bitcoin has become a more standard form of currency, so there are bitcoin exchange ATMs for it. If you're using one of these machines to buy bitcoin, take your time with this investment and know what to do before you show up. That can save you time and alleviate some of your stress.