Articles

Browse Articles  »  Finance  »  How To use Coincloud ATM?

How To use Coincloud ATM?

by Ashley Nicole Crypto Customer Care
Using a Coincloud ATM is the fastest and most straightforward way to convert your bitcoin into cash. In most cases, purchasing bitcoin from a BTM is a one-way transaction. With 100% two-way machines, Coin Cloud is the largest Bitcoin ATM operator in the United States while buying and selling bitcoin. CoinClouds account for more than half of all Bitcoin ATMs, while most crypto ATM providers only provide one or no two-way ATMs. If you need to withdraw less than USD 10,000, you can use Coincloud ATM.

What is The Procedure To Use The Coincloud ATM?

Follow the steps detailed below to utilize a Coincloud ATM to convert your currency cash into bitcoins.

Step 1: Enter Your Telephone Number

When Coincloud ATMs were primarily concerned with privacy, they were now required to comply with Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations. According to the law, evidence of identity for all BTMs must be a government-issued identification card or a phone number.

Step 2: Verify Your Identification

After that, you must contact the phone number you supplied before verifying your identity. Then, you must wait for the BTM to send you the verification code by SMS to complete this process. To complete the process, you must input specific code into the system. When you input your code, you'll get a message. Manufacturers of BTMs took this technique to deter consumers from inputting fake phone numbers.

Step 3: Scan Your Wallet's QR Code

If you use Coincloud ATM, it's possible that you already have a Bitcoin address set up for yourself. To use a Bitcoin ATM, you need a Bitcoin address. The gadget will deliver the actual Bitcoins to this location. If you do not currently have a Bitcoin public address, here are two options for getting one.

  • Making use of a paper wallet.
  • Using a software application.
  • Using a public exchange address.

On the other hand, your QR code is the most important thing. Scan this barcode for the Bitcoin ATM to understand where your bitcoins need to send. Bitcoin ATMs may take payments from several wallets, including those that use the Bitcoin cryptocurrency. If you are unsure, it is best to contact Coincloud ATM Customer Service.

Step 4: Enter Your Physical Currency

All that is left is for you to input the amount of money you want to convert to Bitcoin. Then, in the same way, that you would use a Coincloud crypto ATM, you insert cash into the proper port of the machine. The machine will then provide you with an indication of its current Bitcoin value. 

Step 5: Confirm The Amount And Finish The Transaction.

Simply pressing "BUY" or "CONFIRM," depending on whether you're satisfied with the amount of money you've input and the transaction that has been completed, is all that is required. Upon completing the transaction, the Bitcoin will send to the Bitcoin address you validated with your QR code. Please keep in mind that a Bitcoin ATM transaction might take 10 minutes to an hour to complete.

How To Use A Coincloud ATM To Sell Bitcoin?

Depending on the machine, you may either buy or sell Bitcoin or do both simultaneously. The majority of bitcoin transactions are pretty comparable to withdrawing money from a bank account in most cases. When you use Coincloud ATM to withdraw or sell Bitcoin, follow these easy steps to ensure a smooth transaction.

  • Begin by pressing the "Start" button on your computer's keyboard to get things started. 
  • Enter a mobile phone number in the particular box.
  • Enter the unique code supplied to you through text message.
  • Please choose "Sell" from the drop-down menu.
  • Select "BTM" from the drop-down option.
  • Decide how much money you wish to take out of the account.
  • Using the camera function of your mobile wallet app, take a photo of the QR code shown on the BTM display screen.
  • Make sure you put the EXACT amount asked by the BTM into your Bitcoin wallet.
  • The Bitcoin network processes transactions in 10–15 minutes on average.
  • You will get a text message as soon as the transaction is complete, which will take you to the BTM machine.
  • You must return to the BTM and check in with your phone number to get your money back.

When it comes to selling Bitcoin using BTMs, the following are the fundamental processes you'll need to follow. Of course, if you have further questions, you can always contact Coincloud ATM Customer Service.

Use A Coincloud ATM To Send Coins To Someone?

Also, Coincloud ATMs may transmit Bitcoin to another person or account. You need to sell a portion of your bitcoin and transfer the earnings to their Bitcoin wallet to complete the transaction. If you'd want to transmit money rather than sell you're Bitcoin, here how to do it with the Coincloud ATM:

  • You must open an account with the Bitcoin ATM operator.
  • Log in to your kiosk account and pick the amount of money you'd want to transfer and the Bitcoin wallet you'd like it to send to before completing the transaction.
  • After making a simple cash deposit, the recipient will get Bitcoin in their Bitcoin wallet, which they can then cash out and withdraw.
  • Benefits of using the Coincloud ATMs
  • You can use Coincloud ATM and gain the following benefits.
  • Buying and selling Bitcoin is quick and easy.
  • Without using physical bank cards or other types of physical identification to receive payment, you can make transactions.
  • Some machines don't need you to authenticate your identity, enabling you to stay anonymous while using them.
  • The coincloud ATM supports different cryptocurrencies such as BTC, ETH, etc.
  • Coincloud ATM is developed with advanced technology that offers high security to the user.

Final Words 

Now, there are many BTMs all around the globe, but coincloud ATM is simple to utilize Bitcoin. Suppose you have any further confusion or question regarding the purchase of Bitcoin in a Coincloud ATM. You can always contact Coincloud ATM Customer Service. They will help you with all your doubts and provide you with suggestions.

Sponsor Ads


About Ashley Nicole Advanced   Crypto Customer Care

54 connections, 2 recommendations, 154 honor points.
Joined APSense since, February 23rd, 2021, From New York, Albania.

Created on May 12th 2022 00:54. Viewed 245 times.

Comments

No comment, be the first to comment.
Please sign in before you comment.