Most of my steem dollar funds I have been reinvesting back into steem power, but some of it I have been transferring into bitcoin as well and today I decided to go and try out the bitcoin atm near me for the very first time.
It was located in a coffee shop and I was pretty nervous about being able to complete the transaction without really knowing what I was doing. I tried to prepare by watching bitcoin atm transactions on youtube but the majority of the ones I could find were buying bitcoins and not selling/taking out cash so I still wasn't clear on what the entire process entailed.
I was glad to find that the instructions on the machine were pretty straightforward. It first asked me if I was interested in selling or buying bitcoins etc, and I selected to sell. Then it asked how much and once I told it the amount then it printed out a slip for me and told me to send the coins to the address on the slip. I then opened my btc wallet and proceeded to send the coins to the address (took a picture of it).
Once the coins were sent then I had to wait a few minutes so during that time I ordered an iced frapp. After a few minutes I selected 'redeem ticket' on the screen, scanned my ticket, and my fiat cash was then dispensed.
I have to say that I am very impressed with how easy the entire transaction was to complete and I am thankful for the bitcoin community here in town who have been spreading the word about cryptocurrency and trying to get these atms into new locations.
Wow never heard of these machines, sound pretty straight forward to use.
I thought that was a very helpful post. I didn't even know this type of machine existed. Thanks.
Thankyou, yes that was very helpful. I am in Australia and there is only one machine in the whole city.
Awesome to hear! There are a couple of ATMs "close" to where I work and I've considered how cool it would be to actually have one within walking distance of where I work. I would probably use it to make purchases of coin with cash more than selling it (I use a Shift card to purchase with BTC) but in general it would be cool just to see the BTC logo about... now if they integrated Steem as well... ;-)
I think that was a fun experience. It's going be a easy and fast process someday all over the world.
I wonder what the buying experience would have been like. Would the machine have required a form a validation; an ID and proof of residence?