What First-timers Can Expect When Using a Bitcoin ATM in Phoenix, AZ

Cryptocurrency is a new concept, but many people are interested in learning more. Thanks to ATMs around the country, it’s getting easier for the average person to buy and sell Bitcoins. Here is what first-timers can expect when using a Bitcoin ATM in Phoenix, AZ.

Buying and Selling

Cryptocurrency ATMs like RockItCoin machines allow people to buy and sell Bitcoin as well as Litecoin and Ethereum, but not all do. Some Bitcoin ATMs aren’t set up for two-way transactions and only allow one to purchase Bitcoin not sell it. If selling, find a two-way transaction ATM.

Cash-based Transactions

When buying Bitcoin from an ATM, one doesn’t use a credit card. Instead, the transactions are cash-based. After selecting the amount to purchase, one completes the purchasing processing by inserting the exact amount of cash. Individuals can buy, at most kiosks, up to $9,000 in cryptocurrency.

Digital Transactions

Bitcoin is mostly a digital transaction. When cryptocurrency is bought, it’s transferred to one’s digital wallet that’s accessible on their phone. If the person is a first-time buyer, they will need to create a digital wallet. The ATM will give buyers the option to create a new digital wallet and guide them through the process. The digital wallet is also used when selling Bitcoin. Make sure to back up the wallet in case the phone is lost. The ATM might provide how to do this, but one most likely will need to go online to learn more.

Looking for a Bitcoin ATM in Phoenix, AZ? Visit RockItCoin Bitcoin ATM online for a list of locations.

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