News + Blog


Beginner's Guide to Bitcoin Depot ATMs


Bitcoin ATMs, or BTMs as Bitcoin Depot calls them, are popping up everywhere. There are now nearly 7,000 Bitcoin Depot BTMs located throughout the United States and Canada. These amazing machines offer people a way to add Bitcoin to their digital wallets without the hassle of registering with a crypto exchange.

They’re also great for people who prefer to use cash or want a secure, private, and quick way to get BTC. If you know how to use a traditional finance ATM, you’ll have no trouble using a Bitcoin ATM. 

Just the same, new technology can be intimidating, which is why we want to walk you through how to use a Bitcoin Depot BTM. 

    What is a BTM?

A BTM or Bitcoin Teller Machine is essentially an automated teller machine that dispenses Bitcoin. These physical kiosks look like a typical ATM, but are often wrapped in signage specifying their use. Users deposit cash into a BTM and receive Bitcoin which is sent to their personal crypto wallet. 

    Using a Bitcoin Depot BTM

Here’s a step-by-step guide on using your cash to add Bitcoin to your digital wallet using a Bitcoin Depot BTM.

        Install a crypto wallet

You don’t need a bank account to use a BTM, but you do need a digital wallet. There areplenty of options available, but if you’re having trouble selecting one, just use the built-in crypto wallet in the Bitcoin Depot app until you make a final decision. There are wallets with more features and functionality, but if you just need a place to store your Bitcoin, the Bitcoin Depot wallet will get the job done.

        Find a Bitcoin Depot BTM

If you’re old enough to remember, there was a time when we had to find places using an actual, physical map. Or we would call and speak with someone who could give us directions. That’s no longer the case. It’s easier than ever to find a Bitcoin Depot BTM thanks to theBitcoin ATM locatoraccessible through either the site or the mobile app.

Enter your zip code or your city and state, and before you know it, you’ll have directions to the nearest Bitcoin Depot BTM.

        Follow the on-screen instructions

Using a Bitcoin ATM might sound intimidating, but it’s as simple as following the instructions provided by the kiosk. Tell the BTM how much Bitcoin you want, enter and verify your phone number. If you’re a new Bitcoin Depot customer, you’ll need to provide a little more information. Don’t worry, the BTM will walk you through the entire process. 

        Provide your wallet information

This is why we told you to install a wallet. Once you’ve completed the verification process, the BTM will need your wallet information. This is where you Bitcoin is going to go when you initiate the actual transaction. Most digital wallets have a QR code you can use, which you can find if you click “receive” in the wallet itself. Once you find it, let the BTM scan it so it knows exactly where to send your BTC. Before moving on to the next step, be sure to double check your wallet address. If your Bitcoin gets sent to the wrong address, there’s no way to get it back.

        Insert your cash

This step is pretty straightforward, but you should keep in mind that you can only insert denominations of $5, $10, $20, $50, and $100. So put those two dollar bills back in your pocket. The Bitcoin Depot kiosk will show you how much you’ve inserted and how much Bitcoin you’ll receive. Click on the “I’m done,” button to move onto the next step.

        Wait for it…

Literally. The BTM will ask you to wait as it sends BTC to your wallet. After a moment the screen will tell you the transaction is in progress and that you’ll receive an SMS indicating that the transaction completed successfully. You’ll also see the wallet address to which your BTC is being sent. At this point, you can print a receipt of your transaction and log out.

    You’re All Set

That’s all there is to it! You’re now ready to use a Bitcoin Depot BTM. Turning your cash into Bitcoin is simple, straightforward, secure, and non-invasive when you use a BTM. Remember to always double check your information throughout the process to ensure everything goes smoothly. Follow the instructions provided for a smooth Bitcoin buying experience.

Be sure to use theBitcoin ATM locatorto find the nearest Bitcoin Depot BTM!

Nov. 10, 2022