In this post I will share my experience of selling BTC in a Bitcoin ATM and what I learned from it. I hope this post will help you in many ways !!!
So, few months ago I was trying to cash out some of my bitcoins locally in Canada, specially in a BTM (Bitcoin ATM).
After an extensive search I found few options where I can buy and sell my BTC. To give it a try, I went with the nearest one. I was excited and nervous at same time. Excited, as I was using it for first time and nervous as it was unknown. It was like who knows if this even works 100% or not, who will refund my BTC if something goes South.
Anyways, I went to that place and it was a Convenience Store. Yes, BTM was located inside a Convenience Store!!
I did my transaction and sold $100 worth of BTC and paid a whooping 15% in fees. I know it is too much fee, but hey it worth first time experience :-). Selling BTC was straight forward process and I will break it down for you.
1 Choose Sell BTC/ Withdraw Cash option on BTM Screen.
2 Choose Coin you want to sell. Normal options are BTC/LTC/ETH.
3 It will ask you amount of money you want to Withdraw from BTM. Select your amount.
4 Next screen will show you a BTC Address and amount of BTC you have to send. In most of the cases you see a QR code and that makes life MUCH Easier !!!
5 Scan QR code and send BTC to that address. In my case I send around $115 to withdraw $100. Pro tip: You can choose priority payment method from your BTC wallet (eg. Blockchain) to send BTC faster. This will save you from lot of waiting.
6 BTM will print out a receipt with redemption code. Keep your receipt safe as you will use this code to withdraw cash.
7 Wait for sometime (1 network confirmation) and your cash would be ready to withdraw using redemption code.
8 That's it, you are good to go. Yeah it was that easy.. No personal Info required !!!
Now, there are few points that may differ for you depending on BTM you are using. Like, some BTM prints receipt first for you to scan QR code, some of them also provide option of entering your phone number for easy notification when your cash is ready and some of them make it compulsory for you to enter your phone number.
So, paper is MUST for most of the BTM and if you are going to one, call ahead and make sure that BTM has paper, else you may just waste your time and effort.
This was my first experience with BTM, after this I went to few more and learned many things that I will share in next post.
I hope you liked this post and this may have cleared few doubts out using BTM. Please comment and let know what other things you would like to know about BTM and please upvote if you liked this post.
I have also recorded a video and posted in one of my Youtube Channel. This video is in my native language Hindi, I hope you will like it.
Thanks for reading, catch you soon.
Ciao,
Sandeep B
Brother good to see you on Steemit and i want to Welcome you and i am your follower on YouTube and always great to hear Bhai Ka Channel Hein. And we need people like you and Money guru to develop the community and the concept of Steemit is really revolutionary and i personally associated with Steemit from approx 9 months and didn't invested anything but got effective returns. And specially Steemit brought great changes in Third World Countries.
Many take it very lightly but there are many aspects to grow on this platform and i personally interacted with people who are doing effective projects. And the growth of platform will be depended upon the growth of communities and mass adoption.
And Steem Blockchain is number one in total Blockchain Transactions as per the Blockactivity data and it's just matter of time of GROWTH of this platform. Initially when i joined this platform the price of 1 SBD was $15 and Steem was $8 and it was just raining of profits at that time and it was win win situation for us.
And SMT's will play game changing role and then we can also participate in ICO's in more effective way because then ICO's will be launched on the Steem Blockchain. And also there are many effective developments are coming, and one of them is One Account and One Vote and Oracle System.
And i personally motivated from your motivating videos and your life experiences, and i am one of them who submitted the entry for the collaboration with you on YouTube. And what i like about you is, you always give important updates coming up live no matter what time is and that showcase the quality of helping others.
I want to wish you great heights on this platform and in life. Wishing you an great day and stay blessed you and your family. 🙂
@chireerocks Thanks a lot bhai. Much appreciated. Seems like you have good experience with Steemit, it will come handy for sure. :-) Awesome Going !!!
Welcome brother. Yes, i am associated with Steemit from last 9 months and closely analysing the community and for sure in five years Steemit will going to rule the Social Networking World. Brother in future SMT's will be very crucial, in my opinion you can check Dlive and Dtube because you really create professional and amazing videos and also it will increase your Fan Base in Dtube and Dlive. Many Big YouTubers are already redirected towards the Dtube and Dlive. Hope that soon we will get to see you on DTUBE or Dlive. Stay blessed. 🙂
@hireerocks you people are so good to encourage new users .
Truly said. You have great writing skills @chireerocks . Upvoted and started following you.
Thank you so much for your kind appreciation. Wishing you an great day and stay blessed. 🙂
congratulations for ur steem account. Together we will make our community proud
All the best for your Steemit future. Stay blessed. 🙂
@sandeeptgs is it possible that one day we will see these atms in india also????
Once government has regulated the crypto, I think we can see them @spread-knowledge
I think it will happen for sure. Let India regulate crypto once and that's when we will see everyone jumping to get BTM license.
Nicky to see you @sandeeptgs her I really like you I am big fain of you on YouTube aek bar aapse bat bhi Hui thi jab aapne dusra channel banaya tha or aapko won Kiya tha ki Sandeep bhai ka cantent chura ke dal rahe ho fasoge tab aapne kaha wo bhi mara hi channel he or aapne no bhi diya tha but wo miss hogya or 1 bat jab AAP kahte ho BHAI KA CHANNEL HE maza sa aajata he
Thanks @sandeeptgs for Clearing my douts and yes i am also waiting for the day when bitcoin get legal in india.
but it will take time to come in india
My big brother sandeep bhai is here 😎
Hope one day we will be able to buy n sell the cryptocurreny via Atm in our country as well.
Yes, India will also see such ATM's once govt. regulates crypto.
yes sir i love bitcoin ATM ,, and sayad india mai bhi kabhi esa din aay..
Sir kuch toh bada hone vaala hai na, joh AAP sab Sarah's ho steemit par😊😊
Thank you for sharing your experience with us & the tips. Yet I think this thing will take time to come in India, as still some news for regulations still pending and we don't know the outcome and the aftershoks. Hope for the best and hope in future we will have same BTM here in India :)
Sharam kis baat ki Bhai ka blog he...Welcome bhai ...aap toh itna power leke aye ho
Sandeep sir welcome to our group, nice to see you here
Welcome Sandeep sir for steemit.
If phone number is required, then what would be for tourists or other foreigners @sandeeptgs ?
Is it mandatory to buy a sim card ? and what about papers like ? Do they require some documents for the foreigners. ?
Mighy be it is very questions but need to clarify that's why I am asking.
Thank you in advance.
In most BTM, we don't need to provide any phone number or documents. I think I mentioned that in this post. :-)
Yes you mentioned most BTM. Most are not all actually. That's why I wanted to know about rest of others :)
Wow Sandeep bhai ka hi intezaar tha, ab AAP bhi aagaye
hello sandep sir , yaar tusi great ho. i like your all youtube videos and this atm video in canada. plz help me on steemit earning journy https://steemit.com/@nitishgoyalstar
Welcome to steemit bro
maybe my childrens will be use it for cash depisit or withdraw .. in pakistan,hehe
i am seeing something interesting that everyone coming on steemit and youtubers are making money ....
anyone know how??
because they have big community and they are using as ladder and getting success last night as we saw on money guru post...
i am not saying they are doing something wrong they are doing great job and using the clever mind but problem is that peoples are blind like me..
and just we are supporting them and what will we getting ...nothing,,
1000% nothing
just playing a side role ..
if you are on steem so you can observe THEY ARE SUPPORTING EACH OTHERS NOT THEIR COMMUNITY ....
aging I AM SAYING HERE I AM NOT AGAINST FOR THEM just i am sharing which is going on so please guyz use your mind and make your team ,vote together ..
support your community ..
thank you and if i am saying something wrong so please correct me and put down your view...
Bhai, I don't think you have any idea as to what is going on here.
You are seeing it from surface, that too not properly. We don't earn $1 for few likes and comments, like you see in this post. There are so many things that go in background.
In your post, you could have asked how this is achieved and not point stuff without any base. Community helps for sure, but there are many other factors. I am still learning this so I can't explain much right now, but I can say that followers number doesn't matter that much in beginning. Also, I have not even told anyone yet that I am on Steemit. Let me learn and we will unfold everything soon. Hope this helps for now.
Ciao,
sandeep bhai if you are saying this bro so please tell me what is going on background...
bro i wanna tell you one thing that is you are very good person as i saw and very kind heart man you are helping everyone but BRO THERE IS MANY PPL THEY ARE JUST TAKING ADVANTAGE AND NOT GIVING BACK...
AND SECOND THING IS THAT YOU ARE NOT ANNOUNCED YOU ARE ON STEEMIT NO MATTER BECAUSE YOUR NAME AND WORK IN ENOUGH FOR US.......
THANK YOU FOR YOUR REPLY ...
IT IS KARMA
bro they are invested in bot for post boosting so they are trying to test everything and then they will make video on all facts . do you think they earn more than 100$ just bcz of community support.....oh man then you are wrong.. .people argue without checking the facts .so sad man
Kon kahta he Aasman men ched nahi hota
aek patthar to Mohabbat se uchalo yaro
Apna Kam karte jao aek den fal zarur milega jab aapke koi bat hoge log khud aayenge
we need that in india.......india me kab aaye ga ...bitcoin ka ATM....
If this machine will be situated in india? what will happen theN? JUST IMAGINE
hello sir nice job
I am your biggest fan and follower
Very nice
Hope India also do this ...
What you say @sandeeptgs ?
Also check my post please
Wow is this real and safe to buy and sell Bitcoins in ATM?
I hope these days will come soon in India... ☺️
Can it is possible bitcoin ATM come in India or not ???
I love to see that dubai is on fire about the crypto currency market.hope thay will be in the front row in coming future!!
I like to see that is on fire about the crypto currency market.hope thay will be in the front row in coming future!
yes, @sandeeptgs it's human nature to be nervous before doing anything first time in our life.
And Even @vikas4233 (I) was nervous when bued first time Bitcoin on any Exchange, but now I'm or everyone is usual with Bitcoin.
and your video is one of the best video ever on your channel #crypto_point_Hindi
Love you @sandeeptgs
Keep your support to @vikas4233, don't miss to follow and upvote on my posts..
THANKS FOR THIS IDEA
Welcome sir join this group we create history
@sandeep bhai india me bitcoin ka kya hoga.. Bitcoin ben ya regulate
In india its dream . Just wait and watch when this dreams comes true......
India me kab ayega aisa atm? @sandeeptgs
pehle gov. yes to bole....... Baki bahot cmpny hai ..... wo kuchh na kuchh to krenge......
Welcome to steemit bro
Good Sundeep, I watched your this video on youtube. Good to see
Bro if u want than we work togather for steem earnings
https://steemit.com/football/@shoaibchheena/football-worldcup-here-all-matches-updates
sir good informastion this great post
@sandeeptgs seeing the price of BTC right now you have sold it at the right time. Hope it is available in India too.
Thanks for sharing this and welcome to Steemit. Hope to see more from you.
Sir aapka youtube channel meine December 2017 Ko subscribe Kiya tha aur aapka meine Phelan video dekha tha jisme AAP KFC mein the aur bol rahe the ki bitcoin 20k pe mat buy karna
Sandeep bhai when we will get such ATM in India? Any idea.
Sandeep sir love bhai aapke content main damm hota hain
@sandeeptgs it's good to see you on steemit, it looks like our community is really growing. Yaha pe Bhi kuch jadu kardo jaisa jadu aap aapje videos me karte ho.
Live you brother from the bottom of my heart.
Tabtak ke liye take care and be safe ;) Ha ha ha
@sandeeptgs Hello Sandeep sir love to see you on steemit. Bas aap ka hi intezaar tha yha. Der kis baat ki humare bhai ka channel hai sabhi daba ke vote karo.
Good to see that you have joined
@sandeeptgs could you please guide me which coin is available for withdrawal in ATM except Bitcoins?
Thanku so much sir this is very helpful for us❤
This article help to who want cashout Bitcoin outside India.
E Vai ka channel he, to sarm kis bat ki,,, duniya kitna age निकाल gaya,,, aur हमारा India kitna पीछे,, दूसरे desh ko dekhkar India ko kuch सोच na cahiye,,,