How To Deposit Bitcoin

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Bitcoin deposits need to be confirmed on the Blockchain 3-6 times for you to receive the funds. This can typically take 1-3 hours. Please also make sure that you have tracked your deposit on the Blockchain by visiting www.blockchain.com to search the transaction itself. You can purchase Bitcoins from an exchange with your bank account or buy them from a friend or family member. Go to the Poker Cashier, click on Deposit, and then click on Bitcoin 4.


We can both agree on this:

Buying bitcoins with cash is confusing!

Luckily, today I'll show you how easy and fast it can be.

We've collected the best exchanges and listed them for you below.

Chapter 1

Introduction

Why buy bitcoins with cash?

  • It's private and usually quick
  • One of the easiest ways to get bitcoins

Converting your cash to bitcoin can get you bitcoins within a couple of hours.

Make sure you have a Bitcoin wallet before you buy since some of the exchanges below require one.

If you don't have a wallet, read our guide on the best Bitcoin wallets.

Buying bitcoin with cash usually has very high fees. For lower fees, try one of the exchanges below and deposit using bank transfer or credit card:

  • Bits of Gold
    • Crypto exchange based in Tel Aviv
    • Buy with card, cash or bank transfer
    • Supports Bitcoin & Ethereum
  • Rain
    • Exchange for Saudi Arabi, Oman, Kuwait, Bahrin, UAE
    • Rain is based in Middle East
    • High buying limits
  • WazirX
    • Crypto exchange based in India
    • Deposit INR with IMPS & UPI
    • Low fees and many coins
  • CoinJar
    • Buy crypto with cash at 1,200+ retail outlets around Aus
    • iOS & Android apps that let you trade
    • Australian crypto exchange established in 2013
  • eToro
    • Start trading fast; high limits
    • Easy way for newcomers to get bitcoins
    • Your capital is at risk.
  • Luno
    • Best for Nigeria, South Africa, Indonesia, Malaysia
    • East to use interface
    • Trusted exchange
  • Bitpanda
    • Crypto exchange based in Europe
    • Buy bitcoin with card, SEPA, SOFORT
    • Trusted exchange
  • Coinbase
    • High liquidity and buying limits
    • Easy way for newcomers to get bitcoins
    • 'Instant Buy' option available with debit card
  • Bitbuy
    • Exchange based in Canada
    • Very high buy and sell limits
    • Supports Interac & wire
  • Coinberry
    • Crypto exchange based in Canada
    • Very high buy and sell limits
    • Supports credit & debit card, Interac, wire
  • Coinsquare
    • Canada's largest cryptocurrency exchange
    • Very high buy and sell limits
    • Supports bank account, Interac, wire
  • eToro
    • Supports Bitcoin, Ethereum & 15 other coins
    • Start trading fast; high limits
    • Your capital is at risk.

    This ad promotes virtual cryptocurrency investing within the EU (by eToro Europe Ltd. and eToro UK Ltd.) & USA (by eToro USA LLC); which is highly volatile, unregulated in most EU countries, no EU protections & not supervised by the EU regulatory framework. Investments are subject to market risk, including the loss of principal.


We suggest using the exchanges listed below or doing research before buying from any exchange.

Many exchanges are simply trying to steal your personal information (like your password).

We do research on every exchange we list and are very careful not to include scam exchanges on our site.

Chapter 2

Cash Bitcoin Exchanges

It's possible to buy bitcoins with cash on LocalBitcoins via cash trade in-person or with cash deposit.

A quick step-by-step guide on how to buy bitcoins with cash on LocalBitcoins:

  1. Find a seller in your area who accepts cash.
  2. Select amount of coins and place an order.
  3. Receive account number from the seller.
  4. Deposit cash into the seller's account.
  5. Upload your receipt to prove you made the deposit/trade.
  6. Receive bitcoins! The coins will arrive in your LocalBitcoins wallet.

The above guide was meant to give you an idea on how LocalBitcoins works.

If you want more information, read our full guide on how to use LocalBitcoins.

LocalBitcoins is private and does not require any personal details or verification, although specific sellers may request this info.

Be sure to buy from sellers with previous trade history and positive feedback.

Local Bitcoins charges a flat 1% fee on each purchase.

How To Deposit Bitcoin To Hugosway

We may receive compensation when you use LocalBitcoins. Please visit LocalBitcoins for its exact pricing terms.

  • Can be private, fast and easy
  • In-person trades require no personal information
  • Purchases of bitcoin can be made quickly via cash deposit
  • Beware of scams; always follow the rules!
  • Harder to buy large amounts of bitcoins compared to large exchanges
  • Slightly to significantly higher prices than regular exchanges; premium for higher privacy
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LibertyX lets you buy bitcoin with cash at a number of retail stores across the United States.

You'll have to verify your identity before buying, making LibertyX less private than some of the other options.

You can buy up to $1000 worth of bitcoin and will be charged a 1% fee on all purchases.

Get this:

If you sign up with Facebook you can buy your first $1000 fee free.

Your bitcoin should arrive a few minutes after your payment is made.

  • Easy and fast way to buy bitcoins with cash
  • Low 1.5% (plus store fee) rate for cash purchase method
  • Daily $1000 limit is fairly high for a convenience service
  • Participating stores add their own variable fee
  • Some verification is required which lowers the expected privacy level of cash purchase
  • Attaching your Facebook account further degrades privacy
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Our Bitcoin ATM map helps you find a Bitcoin ATM in your local area.

Using Bitcoin ATMs you can buy bitcoins with cash ONLY.

The average ATM charges a fee of 5-10%, but this is what people are willing to pay to buy bitcoins privately and with no verification.

There are many Bitcoin ATM manufacturates, so each ATM is different. Some require verification, although most don't.

  • Our map makes it super easy to find a Bitcoin ATM near you
  • Bitcoin ATMs often have 5-10% fees per purchase

Bitit is slightly different than the other options on this page. Instead of buying directly with cash, you instead need to use a voucher like Flexepin or Neosurf. The fees are about 8% for buying with Neosurf or Flexepin.

We may receive compensation when you use Bitit. Please visit Bitit for its exact pricing terms.

  • Unique way of purchasing offers extra privacy over other methods
  • 8% Neosurf fee is slightly better than Coinhouse's 10%
  • Available in 50 countries
  • €10,000 initial weekly Neosurf cash payment limit
  • Bitcoin gift cards also available; more expensive than other options
  • In-person buying methods offer more privacy but can be confusing
  • Identity verification required for buying amounts over €25
  • €500 initial weekly credit/debit card limit
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Buy Bitcoin with Cash Exchange Comparison

ExchangeFees
ID Required
Countries
LocalBitcoins 1% Sometimes Global
BitQuick 2% Yes USA
Wall of Coins ~1% No 12 Countries
LibertyX 1.5-8% Yes USA

Chapter 3

Frequently Asked Questions

If you're still a bit confused, that's okay. Buying bitcoins is hard and that's why I built this site.

The FAQ section below should answer all of your remaining questions.

What are risks are involved buying bitcoins with cash?

Buying bitcoins with cash can be very low risk.

If making a trade in-person, it's best to meet in a public place to reduce the risk of scamming or theft.

If buying bitcoins with cash via cash deposit, use an escrow service (like LocalBitcoins or BitQuick) to ensure the seller must send you the bitcoins after receiving bitcoins.

What are the benefits and advantages?

It's easy to buy small amounts of bitcoin with cash.

It's also private, since no personal information is required in most cases, especially if trading in person or at an ATM with no verification.

Buying bitcoins with cash is also fast, as there is no verification to slow down the process.

What are the disadvantages?

It can be hard to buy large amounts of bitcoins with cash, especially with cash deposit.

Bitcoin ATMs also have limits and some require verification if more than a certain amount is purchased.


Pro Tip

Do you want to buy larger amounts of bitcoins? Try buying with a bank account and you'll save on fees, too.

Why do Local Bitcoins and Bitcoin ATMs have a higher price than other exchanges?

The average buy price on Local Bitcoins and Bitcoin ATMs is usually 5-10% higher than the average global rate.

Unlike other exchanges, which require ID verification and personal information, Local Bitcoins and Bitcoin ATMs don't require any information like this.

The 5-10% premium on LocalBitcoins and at ATMs is simply the cost people are willing to pay for privacy when buying bitcoins.

Is it risky giving up my ID in order to buy?

It depends how much you trust the exchanges.

Just like any information you give up online, there is always the risk that it can be hacked or stolen from the website you give it to.

One thing that Bitcoin exchanges have going for them is that because they are constantly under attack, they have some of the best security and protections in place to protect against the hacking of your personal info.

There is always risk with anything related to information online.

Even Yahoo was hacked and information on 1 billion accounts was stolen.

Should I leave my bitcoins on the exchange after I buy?

We really recommend storing any bitcoins you want to keep safe in a wallet you own.

Many Bitcoin exchanges have been hacked and lost customer funds. If you don't want to fall victim to these hacks then the easiest way is to store your coins in a wallet you control.

Can you sell bitcoins?

Out of the exchanges we listed, LocalBitcoins, Wall of Coins, and BitQuick all allow you to sell bitcoins for cash.

Bitcoin Cash

You can buy Bitcoin Cash using cash from most or all of the methods and dealers listed on this page.

Chapter 4

Tutorials: How You Can Buy Bitcoins with Cash

How to Use BitQuick

BitQuick is one of the best ways to buy bitcoins with cash in the United States.

It charges 2% per buy but the exchange rates are generally better than LocalBitcoins.

We will show you how to make your first purchase in the tutorial below.

You will NEED a Bitcoin wallet before you can buy from BitQuick. Don't have one? Read our guide.

Go to BitQuick

You will see the home page. Then, click 'Quick Buy'

Enter the amount you want to spend. You can enter in dollars or BTC, the fields will update automatically.

You should now see a list of banks with prices:

You can pick any bank, and banks with the lowest prices will show up first.

Once you picked a bank you will be required to fill in some details. This includes your email, phone number, and Bitcoin address. You can also change the amount of Bitcoin you want to receive.

Make sure you put in your phone number and press 'SEND VERIFICATION'. This will send a PIN code to your phone that you need to confirm.

Once you put in your details press 'PLACE HOLD'. This will lock in your order.

Now you will need to find a bank branch of the bank you chose in your area. Then you go into the bank, make a deposit, and save the receipt.

Go back into BitQuick and upload the receipt to the seller. This proves you made the deposit.

Bitcoins should arrive to the address you entered earlier within 3 hours!

Buy Bitcoins with Cash from Bitcoin ATMs

Bitcoin ATMs are another great way to purchase bitcoins with cash!

Think of a Bitcoin ATM as a cash to Bitcoin converter.

While you may have to physically drive or walk to the ATM, once you reach the ATM you can buy bitcoins instantly. You’ll need to be lucky enough to have a Bitcoin ATM in your area.

Our Bitcoin ATM map helps you find locations makes it easy to locate a Bitcoin ATM in your area.

You can do the following to check if there is a Bitcoin ATM near you:

1. Go to the Bitcoin ATM Map

2. Search by Location

In the search box in the top left, type in the name of your country or city and click enter.

3. Find an ATM

Once you search, you’ll be taken to the location you entered on the map. If you see map pin markers, you’re in luck! That means there are Bitcoin ATMs in your area.

4. Choose an ATM

Click on one of the map markers for more details about a specific ATM. From there, you can also click on “Read More” at the bottom for even more details.


While Bitcoin ATMs make it easy to buy bitcoin with cash, there are some downsides:

Bitcoin ATMs generally sell bitcoins at a mark-up of 5-10%.

Before you buy bitcoin from an ATM, check the ATM’s price against a Bitcoin price index like our Bitcoin price page.

Also:

Some ATMs may require verification, like a picture of an ID or a finger print scan (although most don't).

Buy Bitcoins with Cash at Wall of Coins

Wall of Coins is a peer-to-peer cash exchange, currently available in the United States, Canada, Germany, Argentina, Latvia, Poland, and the Philippines.

LibertyX Review

Now that you know a bit about LibertyX we'll show you how to use it. Once you've downloaded the app from the Apple App Store or Google Play Store, open it and you should see a screen like this:

Enter the amount of bitcoins you want to buy and then press 'NEXT'. You should now see a screen with some options. If you want to find a store near you to buy then click 'Find Store'. Now you'll see a zoomed out map.

Put in your location or allow the app to see your current location. You should then see a zoomed in map with pins displayed the many locations you can buy from:

Now tap on a pin and then tap 'SELECT THIS LOCATION':

You will get more information on the location, like the store's hours, fees, phone number, and instructions for buying the coins:

In the next step you will need to login with Facebook or make an account:

Once you login you will also need to link your phone number.

Once you confirm your phone number you can get your LibertyX code that you show the store!

At the store you present the code to the cashier and pay for the amount of coins you want. The cashier will then print out another code that you enter into the LibertyX app. Once you enter the code from the cashier you receive bitcoins!

Trades Near You: Mycelium Local Trader

Mycelium Local Trader is part of the Mycelium Bitcoin Wallet for Android.

If you live in a city, you're in luck:

There may be a number of sellers in your area.

Make sure you meet in a public space. Going with a friend is best, too. There have been reports of scams and robberies, so just make sure you take precautions when buying.

Once you download the app, click Buy/Sell:

Once you enter your location you should see a list of local sellers:

Click on a seller for more info:

Again, make sure you buy from sellers with good feedback! If you meet, meet in a public space and go with another person.

Chapter 5

Peer-to-Peer Exchange Explanation

The exchanges mentioned above (LocalBitcoins, Wall of Coins, and Bitquick) all work in almost the same way.

This section aims to provide more clarity on how a trade might work using one of these exchanges.

Buying Bitcoins at Peer-to-Peer Exchanges

Peer-to-peer (P2P) Bitcoin exchanges are a great way to get bitcoins with cash. A P2P trade usually works something like this:

  1. A buyer and seller use a site like LocalBitcoins or Wall of Coins and agree on a price.
  2. The seller’s bitcoins are held by the site and only released to the buyer upon confirmation of payment.
  3. The buyer deposits cash into the seller’s bank account.
  4. The seller confirms payment. Usually, the buyer sends the seller a receipt to prove that cash was deposited into the seller's account.
  5. The site (LocalBitcoins or Wall of Coins) releases the bitcoins to the buyer.
  6. The seller got cash, and the buyer got bitcoins. The trade is complete!

The above was just an example!

Through sites like LocalBitcoins you are free to agree on other payment methods besides cash deposit.

For example:

You could arrange to meet in person and exchange cash for Bitcoin.

Yes, using LocalBitcoins you can even exchange that Starbucks gift card from Christmas a few years ago for bitcoins ;)

Why Are P2P Exchanges Good?

  • No verification is required. You don’t need to submit any personal details and there is no verification process that takes up time.
  • Cash payments are irreversible. Once cash is in someone’s bank account, the buyer of bitcoin has no way to reverse the transaction. So the seller can feel confident that he received payment for bitcoins, and release the bitcoins to the buyer.

A Note on Exchange Rates

Peer-to-peer Bitcoin exchanges offer a fast way to buy bitcoins.

However:

Peer-to-peer exchange rates may be a bit higher than the global average Bitcoin exchange rate.

People are willing to pay more to buy bitcoins both more privately and faster. The markup is usually somewhere around 5-10% on LocalBitcoins. Wall of Coins generally has rates close to market.

Check the against a Bitcoin price index like Bitcoin Average or the CoinDesk BPI.

Best Practices for In-Person Cash Trading

If you decide to meet up with another person then make sure to take some precautions.

Meet in a public area. Most trades will go through fine but a search on Google shows people getting robbed or scammed at in-person trades.

Bring a friend. If possible, try to bring along a friend or family member just so you're not alone.

These tips are not meant to scare you and there is nothing wrong with trading bitcoins. But when dealing with any amount of money or trade it's best to be safe.

Chapter 6

Theft, Scams, and Storage

If you get one thing from this article let it be this:

Don't store your bitcoins on exchanges!!!

I've been buying bitcoins for more than three years. I've never lost any money to scams or thefts. Follow the guidelines in this article and you'll be able to do the same.

Here are two examples where users got screwed by leaving bitcoins on exchanges:

And there are many more I could list.

If you're buying with cash from an ATM you won't have to worry about this, since ATMs always send bitcoins directly to a wallet or Bitcoin address.

How To Deposit Bitcoin Bovada

If you're buying from BitQuick or LocalBitcoins:

Make sure to move the coins you bought to your own wallet right after you buy!

Secure Your Coins: Get a Good Bitcoin Wallet

Make sure you get yourself a Bitcoin wallet that will securely store your bitcoins.

Besides storage, there are many scam exchanges out to steal your personal information and/or bitcoins.

Following these two basic principles should help you avoid theft, scams, and any other loss of funds:

  1. Do research before buying on any exchange. Check reviews, ratings, and regulation information.
  2. Don't store coins on the exchange. Already mentioned above but worth repeating.

Secure Bitcoin Hardware Wallets:

A Bitcoin Teller Machine (also known as a BTM or a bitcoin ATM) is essentially an ATM that you can exchange your country’s currency for bitcoin.

It is a quick and convenient way to buy bitcoin with very little hassle.

Whether you’re from Canada, the United States, Australia, New Zealand, Europe, or most everywhere in the world, you can take your dollars, euros, yen, pound, etc., deposit it into a bitcoin ATM, have its equivalent value in bitcoin sent to a specified bitcoin address.

We will go over exactly how this works in this article.

Because they are so simple to use, having bitcoin ATM machines accessible to everyone around the world makes the barrier to entry extremely low for the masses, which in turn leads to mass adoption of the currency and leads to exponential growth of the digital asset.

To find a bitcoin ATM machine near you, read on…

How Does A Bitcoin ATM Work?

For starters, we will note that most bitcoin ATMs differ from one another, based on the manufacturer.

Bitcoin

The top 5 manufacturers of bitcoin ATM machines are: Genesis Coin, General Bytes, Lamassu, Coinsource, and Bitaccess.

Although they differ slightly, the process of converting your fiat currency to bitcoin is generally the same.

(On a side note: “fiat” currency simply mean your country’s currency. So the US’s fiat currency is the US dollar, Germany’s is the Euro, etc.)

Here Are The Typical Steps For Exchanging Your Fiat Currency To Bitcoin Using A Bitcoin ATM:

Step 1: Insert your phone number.

This is for identity verification. We will go over the pros and cons of bitcoin ATM machines later in this article, but, as you can see, a lot of people will find this step as a con.

Bitcoin ATM machines are not anonymous. The BTM manufacturers have to comply with Know Your Customer (KYC) and Anti-Money Laundering (AML) Regulations by law, so some type of identity verification MUST be in place in every BTM machine.

Some ATMs may even ask for another form of ID – such as asking you to scan your driver’s license – but the most common is simply to provide your phone number.

Step 2: Verify Your Identity.

Now that you submitted your phone number, you have to actually VERIFY your identity.

A lot of people – myself included at first – simply input a fake phone number so that they can just move onto the next step without giving up any personal information, but the manufacturers of these machines have grown wise to these tricks.

In order to verify your identity, they send an SMS text message with a verification code to the phone number you provided, where you then have to input into the machine to prove that the number you provided is indeed your actual phone number.

The verification message will look something like this: “Your code is: 1234567. Thank You.”

All you do is input “1234567” into the ATM when prompted.

There’s no escaping this step.

Step 3: Scan Your Wallet QR Code.

When you go to a bitcoin ATM machine, you must have a bitcoin address to send the actual BTC to.

There are many different ways to obtain a bitcoin public address, including using a paper wallet, downloading an app like Coinbase, or using an address on an exchange such as Binance.

Whichever method you choose, you must have the QR code on hand.

A QR code is simply a group of pixels that represent your bitcoin address.

By scanning your QR code, the bitcoin ATM machine will know exactly where to send the BTC you purchase.

A bitcoin QR code looks like this:

Step 4: Insert Your Fiat Currency.

Now you insert the amount of money you want to exchange for bitcoin.

Just like a regular ATM, you simply take your money and put it into the machine.

After you do this, it will tell you how much that money is worth in bitcoin.

For example, if I deposit $500 USD, the screen will show something along the lines of: “$500 USD = .056879554 BTC”.

Step 5: Confirm The Amount And Complete Your Transaction

All you have to do at this point is press “BUY” or “CONFIRM”.

The bitcoin will now be sent to the bitcoin address you provided with your QR code.

This usually takes anywhere from 10 minutes to 1 hour.

And that’s it! You have officially exchanged your fiat currency to btc by using a bitcoin ATM machine!

Here is a real-life example and a step-by-step walkthrough of how to use a bitcoin ATM:

The Quick Summary Of How To Use A Bitcoin ATM:

  • Touch the screen to start.
  • Click “buy bitcoin”.
  • Input your phone number.
  • Input the verification code sent via text to the phone number you submitted.
  • Scan the QR code of your bitcoin address.
  • Deposit the amount of money you would like to exchange.
  • Confirm your transaction by pressing “confirm”.
  • Look at your bitcoin wallet in about an hour to see your newly-deposited bitcoin.

Pros And Cons Of A Bitcoin ATM Machine

Pros of using a Bitcoin Teller Machine

    • It only takes a few minutes at most to actually complete a transaction.
    • It’s extremely convenient to make a transaction if there’s a BTM near you (keep reading to find their locations).
    • Gives access of bitcoin to citizens who do not have a bank account or are not associated with any bank.
    • Will be the first method of buying bitcoin in certain countries that don’t have any other access to purchasing the cryptocurrency.
    • There are almost 3,000 bitcoin ATMs in the world, and are growing at an exponential rate as bitcoin grows in popularity – making them more accessible wherever you go.

Cons of using a Bitcoin Teller Machine

    • Transaction fees are the highest you can get: an average of 7.98% of your total transaction – this is HUGE!
    • Deposit and withdrawal limits are usually around $3,000.
    • There is ID verification in place – meaning, you are not completely anonymous.
    • There is still relatively few in the world.

There are many pros and cons to using a bitcoin ATM machine.

To sum it up, the biggest con is that the transaction fees are extremely high due to the infrastructure cost it takes for the manufacturer to create the machine, and the biggest pro is that the BTMs are extremely quick and convenient.

You are essentially trading paying the high fee for the convenience which the BTM gives you.

Bitcoin ATM Machine Locations – Where Can I Find A BTM?

Right now, there are just under 3,000 bitcoin ATM machines in the world.

They are scattered across the continents, with the majority of BTMs being in North America.

In fact, over half of all machines are located in the United States.

Here is a map showing the locations of all the bitcoin ATM machines in the world:

As you can see, most of the BTMs are either in North America or Europe, with the rest sparsed sparingly throughout the world.

Here is a breakdown of all bitcoin ATMs by continent:

If you want to see EXACTLY where a bitcoin ATM machine is located in relation to you, you can go to Coin Radar to find out.

Here, you can find all of the closest BTMs near you by simply typing in your city or address.

Important Facts About Bitcoin ATMS – Speed Of Adoption, Fees, And Types Of Cryptocurrencies Supported

Speed Of Adoption Of BTMs

Bitcoin ATMs are still an extremely new concept.

The first known bitcoin ATM ever created was only on October 29, 2013 – not even 5 years ago!

It was called the “Robocoin machine“, which opened in a coffee shop in Vancouver, Canada.

Little did people know, there would be over 3,000 of these machines in less than 5 years time.

This just goes to show how fast these machines are being put up, which represents the speed in which bitcoin is being adopted by the general public.

In fact, here is a chart that shows the number of BTMs installed from 2013 to 2018:

As you can see, this graph is exponential.

The amount of bitcoin ATM machines have doubled just in a single year.

And there are no signs of stopping.

At this rate, it may even double AGAIN in 2018.

Here is a chart that shows the amount of Bitcoin ATM installations currently being installed TODAY:

6.72 bitcoin ATMs per day x 365 days = 2.759.4 MORE bitcoin ATM machines a year from now.

If this continues, then we would indeed double the amount of BTMs currently in the world today, making bitcoin more accessible to the general public than ever before.

Bitcoin ATM Fees

As stated, the fees for using a Bitcoin Teller Machine is its biggest downfall.

This is because the fees can range anywhere from 3% of the total transaction all the way up to 15%!

Here are the average fees for both buying and selling bitcoin using a BTM:

This is a lot.

If you’re buying $1,000 worth of bitcoin with an average buy fee of 8.26%, you will essentially receive $917.4 worth of bitcoin and pay a fee of $82.6.

This is no nominal amount.

Or if you use a BTM to SELL $1,000 worth of bitcoin with an average sell fee of 7.34%, you will only receive only $926.6 of your fiat currency and pay a fee of $73.4.

Again, this is no nominal amount.

This is why you MUST research the transaction fees of the bitcoin ATMs near you, and choose the one that has the lowest fees.

You can do this by going to Bitcoin Radar and searching for all the BTMs near you.

Types Of Altcoins Supported By Bitcoin ATMs

Although people call them “bitcoin ATMs”, about half of these ATMs actually support other altcoins.

Meaning, you can use them to buy other cryptocurrencies besides bitcoin.

The options are limited, however.

Other altcoins currently supported on specific BTMs are: Litecoin, Ethereum, Bitcoin Cash, Dash, Zcash, Monero, and Dogecoin.

As you can see, almost 50% of all bitcoin ATMs actually allow other altcoins to be purchased.

How To Deposit Bitcoin Atm

This is perfect if you want to diversify your portfolio to include other cryptocurrencies.

However, this is only a drop in the bucket.

There are currently over 1600 different types of altcoins, and out of the almost 3,000 different BTMs, only 8 cryptocurrencies are supported.

This is because, as we said earlier, this is still a new technology.

As we go on to double the number of bitcoin ATMs available, we will surely see a rise in supported cryptocurrencies.

Bitcoin ATMs – A Summary Of What We Learned

Bitcoin ATMs are a quick and convenient way of converting your fiat currency into bitcoin.

They are great for unbanked citizens or people who want the fastest and easiest way possible to purchase cryptocurrency.

But they do have their drawbacks.

Because they are so convenient, the fees to purchase bitcoin are high.

You will have to weigh the ease of which it takes to use the BTMs against the fees associated for doing so.

You can find a Bitcoin ATM near you by clicking here.

How To Deposit Bitcoin To Bank Account

If you would like to discover another easy and convenient way of buying bitcoin, along with earning $10 in free bitcoin by registering, check out our beginner walkthrough tutorial here.

How To Deposit Bitcoin On Eaglefx

*Please note that all pictures on this page (except the QR code) were taken from https://coinatmradar.com.