Are you looking for “Bitcoin ATMs near me” in Fort Lauderdale, Florida? You will be pleasantly surprised to find quite a few options, given the sudden rise in popularity of these machines. Besides Bitcoin’s recent price surge, another factor that has driven Bitcoin ATMs’ popularity is their ease of use. Most people know how to use cash ATMs; so, a Bitcoin ATM is more appealing to them. They would rather finish transactions in minutes than wait to create an account on a crypto exchange.
Things that you should know when you walk up to a crypto ATM in Fort Lauderdale:
- A Bitcoin ATM typically works using QR codes that are connected to user wallets. For transacting through a Bitcoin machine, you must have a digital wallet to store the coins and a smartphone. In case you do not have a wallet yet, it is possible to have a paper wallet printed when you are at the kiosk. So, buying Bitcoin is now easier than ever.
- Once you have been connected to a wallet, you are free to buy and even sell Bitcoin. But, not all machines will enable you to sell cryptos. So, make sure to check whether the Bitcoin ATM you have identified has this feature or not.
- Since the Bitcoin ATMs are web-connected all exchange rates will be displayed in real-time. The interface is intuitive and easy to use. It resembles a standard cash ATM which you are already familiar with. When you provide your phone number, the machine will transfer a QR code to your phone as an SMS. This ensures all your transactions remain completely confidential and secure.
- You must scan the QR code sent to your phone as this contains your wallet address. The machine will then prompt you to select the crypto you wish to buy, whether BTC, ETH, or LTC. You must also provide the number of cryptos you intend to buy.
- Once this is done, you will be asked to submit cash bills. This is just like operating a bank ATM. When you know that the amount has been transferred to your wallet, you can go ahead.
- To sell cryptos at the ATM, the process is slightly different. Rather than putting in cash bills, you must transfer the cryptos from your digital wallet to the QR codes associated with the machine.
- A crypto ATM will let you transfer money securely from your digital wallet to another user. For this, you only need to provide the amount you want to send and the recipient’s wallet address. Instructions displayed on the machine are easy-to-follow and the time taken for transfers is quick.
- A thing to remember when using a Bitcoin ATM in Fort Lauderdale, Florida, is that there may be fees attached to transactions. There is no flat fee; rather every machine implements its own charges which is basically a percentage of the transfer amount. Since the FinCen considers Bitcoin ATMs to be MSBs (money service businesses), they must comply with anti-money-laundering regulations.
- One such regulation put forth is the withdrawal limit. This offers another security blanket for a Bitcoin ATM user. It shows that ATM operators are keen to make these machines a secure means of transferring cryptos.
To find out where the nearest Bitcoin ATM is in Florida, It will provide you with an exhaustive list of crypto ATM locations in and around you.