Final Up to date: Dec. 13, 2025
A Bitcoin ATM (generally known as a BTM) is a bodily kiosk that lets you purchase or promote Bitcoin utilizing money or a debit card. Not like conventional ATMs linked to your checking account, these machines join on to cryptocurrency exchanges, enabling you to transform bodily foreign money into digital belongings on the spot.
As of December 2025, over 39,000 Bitcoin ATMs function worldwide, with the USA internet hosting roughly 32,000 of them, in response to CoinATMRadar. The variety of machines has grown quickly since 2020, rising from roughly 4,250 in January 2020 to over 30,000 by mid-2024. This progress means Bitcoin ATMs at the moment are accessible in most city areas throughout the US.
Disclaimer: This text is for informational functions solely and doesn’t represent monetary, funding, or buying and selling recommendation. Cryptocurrency investments carry important threat. All the time conduct your personal analysis and seek the advice of a certified monetary advisor earlier than making funding selections.
How Bitcoin ATMs Work
Bitcoin ATMs perform in a different way relying on whether or not you’re shopping for or promoting cryptocurrency.
Shopping for Bitcoin
The buying course of sometimes follows these steps:
Choose “Purchase Bitcoin” on the machine’s display screen
Enter the quantity you want to buy (in {dollars})
Present identification verification (necessities fluctuate by machine and quantity)
Scan your Bitcoin pockets’s QR code or obtain a paper pockets
Insert money into the machine
Verify the transaction and obtain your Bitcoin
Most machines course of transactions inside minutes, although blockchain affirmation occasions (the community verification course of that finalizes your transaction) can fluctuate.
Promoting Bitcoin
Not all Bitcoin ATMs assist promoting, however those who do typically work like this:
Choose “Promote Bitcoin” on the display screen
Full identification verification
Ship Bitcoin to the tackle displayed on display screen
Watch for blockchain confirmations (this could take 10 to 60 minutes)
Acquire your money from the machine
Verification Necessities
Bitcoin ATMs implement Know Your Buyer (KYC) necessities that modify based mostly on transaction measurement. Small transactions (typically beneath $250 to $500) might solely require a cellphone quantity. Bigger transactions sometimes require authorities ID, and a few machines use facial recognition or fingerprint scanning for high-value purchases.
Bitcoin ATM Charges
Bitcoin ATM charges are a lot greater than these charged by on-line exchanges. In response to Wikipedia’s compilation of trade knowledge, typical charges vary from 6.5% to twenty%, with most machines charging between 8% and 15%.
For instance, buying $500 value of Bitcoin at a machine charging 12% would value you $60 in charges, which means you’d obtain roughly $440 value of Bitcoin.
Why Charges Are Greater Than Exchanges
A number of elements contribute to the elevated prices:
Bodily machine upkeep and actual property bills
Money dealing with and armored transport providers
Regulatory compliance prices
Decrease transaction volumes in comparison with on-line platforms
Comfort premium for rapid, cash-based transactions
For comparability, main on-line exchanges sometimes cost between 0.1% and 0.6% for buying and selling charges (Kraken fees 0.16% to 0.26%; Coinbase fees 0.40% to 0.60%), although complete prices together with fee methodology charges could be greater, in response to LearnCrypto’s change payment comparability. If minimizing charges is your precedence, on-line exchanges provide less expensive choices.
The place to Discover Bitcoin ATMs
The simplest strategy to find a Bitcoin ATM is thru CoinATMRadar, a complete listing that maps machines globally. The location lets you filter by operator, supported cryptocurrencies, and whether or not machines assist each shopping for and promoting.
Main Operators
A number of firms function giant networks of Bitcoin ATMs. In response to CoinLaw’s trade statistics, the market leaders embody:
Bitcoin Depot leads with over 8,400 machines (21.8% market share)
CoinFlip operates 5,289 machines (13.6% market share)
Athena Bitcoin maintains 3,797 machines (9.8% market share)
RockItCoin runs 2,562 machines (6.6% market share)
Coinhub operates 1,823 machines (4.7% market share)
Geographic Distribution
Bitcoin ATMs focus closely in North America, with the USA accounting for over 81% of all machines worldwide, in response to Finbold analysis citing CoinATMRadar knowledge. City areas sometimes have greater density, although machines more and more seem in suburban comfort shops and procuring facilities.
Professionals and Cons of Bitcoin ATMs
Who Makes use of Bitcoin ATMs?
Bitcoin ATMs serve a number of distinct consumer teams:
Unbanked and Underbanked People
Folks with out conventional financial institution accounts can use Bitcoin ATMs to entry cryptocurrency utilizing money. In areas with out close by banks, these machines present the one bodily entry level to cryptocurrency.
Privateness-Aware Customers
For smaller transactions under KYC thresholds, Bitcoin ATMs provide extra privateness than bank-linked change accounts. Nonetheless, most machines nonetheless accumulate cellphone numbers or IDs for compliance functions.
Comfort Seekers
Some customers choose the immediacy of strolling right into a location and finishing a transaction somewhat than navigating change account setup, financial institution transfers, and verification processes.
First-Time Consumers
The acquainted ATM interface helps first-time patrons keep away from the complexity of change account setup, verification delays, and studying new platforms.
Security Suggestions
Important Warning: Bitcoin ATM Scams Are Rising Quickly
The Federal Commerce Fee reviews that Bitcoin ATM fraud elevated practically tenfold between 2020 and 2023. Within the first half of 2024 alone, customers reported dropping over $65 million to Bitcoin ATM scams, in response to FTC knowledge.
Key statistics from the FTC:
The median loss per sufferer is $10,000
Folks aged 60 and older are thrice extra prone to be focused
Adults over 60 account for 71% of complete BTM fraud losses
86% of scams contain authorities or enterprise impersonation
Widespread Rip-off Patterns
Scammers sometimes contact victims claiming to be from authorities companies (IRS, Social Safety), tech firms, or utilities. They create urgency by claiming your accounts are compromised, you owe again taxes, otherwise you’ve received a prize requiring payment fee. They then direct victims to a Bitcoin ATM to “shield” their cash or pay a “superb.”
The right way to Shield Your self
No official authorities company, utility, or enterprise will ever ask you to pay by way of Bitcoin ATM
If somebody you’ve by no means met in individual asks you to make use of a Bitcoin ATM, it’s virtually actually a rip-off
Authentic companies and companies settle for customary fee strategies
By no means scan a QR code supplied by somebody claiming to be from an organization or authorities
Confirm any claims independently by calling official numbers from firm web sites (not numbers supplied by the caller)
Hold your receipt and report suspicious exercise to the FTC at ReportFraud.ftc.gov
Common Security Practices
Use machines in well-lit, public places throughout enterprise hours
Confirm the machine belongs to a good operator earlier than transacting
Double-check all pockets addresses earlier than confirming
Hold your transaction receipt till Bitcoin arrives in your pockets
Pay attention to your environment when dealing with money
Conclusion
Bitcoin ATMs present a bodily, cash-based entry level into cryptocurrency that may serve customers preferring to not use (or don’t have entry to) conventional banking and on-line exchanges. Nonetheless, the comfort comes at a price: charges sometimes run 8% to fifteen% or greater.
For many customers, on-line exchanges provide decrease charges and broader performance. Bitcoin ATMs take advantage of sense for individuals who particularly want cash-based transactions, lack financial institution accounts, or strongly choose the immediacy and bodily nature of ATM-style purchases.
Given the speedy rise in Bitcoin ATM scams, anybody utilizing these machines ought to train excessive warning. Bear in mind: no official group will ever direct you to pay them by a Bitcoin ATM.
