Final Up to date: Dec. 13, 2025
A Bitcoin ATM (typically known as a BTM) is a bodily kiosk that means that you can 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 forex into digital property on the spot.
As of December 2025, over 39,000 Bitcoin ATMs function worldwide, with the US internet hosting roughly 32,000 of them, based on 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 development means Bitcoin ATMs are actually 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 individual analysis and seek the advice of a professional monetary advisor earlier than making funding selections.
How Bitcoin ATMs Work
Bitcoin ATMs operate otherwise relying on whether or not you’re shopping for or promoting cryptocurrency.
Shopping for Bitcoin
The buying course of usually follows these steps:
Choose “Purchase Bitcoin” on the machine’s display
Enter the quantity you want to buy (in {dollars})
Present identification verification (necessities differ by machine and quantity)
Scan your Bitcoin pockets’s QR code or obtain a paper pockets
Insert money into the machine
Affirm 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 differ.
Promoting Bitcoin
Not all Bitcoin ATMs assist promoting, however those who do usually work like this:
Choose “Promote Bitcoin” on the display
Full identification verification
Ship Bitcoin to the handle displayed on display
Look ahead to blockchain confirmations (this could take 10 to 60 minutes)
Gather your money from the machine
Verification Necessities
Bitcoin ATMs implement Know Your Buyer (KYC) necessities that change primarily based on transaction measurement. Small transactions (usually below $250 to $500) might solely require a telephone quantity. Bigger transactions usually 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 increased than these charged by on-line exchanges. In response to Wikipedia’s compilation of business information, typical charges vary from 6.5% to twenty%, with most machines charging between 8% and 15%.
For instance, buying $500 price of Bitcoin at a machine charging 12% would price you $60 in charges, that means you’d obtain roughly $440 price of Bitcoin.
Why Charges Are Increased Than Exchanges
A number of components 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 quick, cash-based transactions
For comparability, main on-line exchanges usually cost between 0.1% and 0.6% for buying and selling charges (Kraken expenses 0.16% to 0.26%; Coinbase expenses 0.40% to 0.60%), although complete prices together with fee methodology charges may be increased, based on LearnCrypto’s trade payment comparability. If minimizing charges is your precedence, on-line exchanges supply more cost effective choices.
The place to Discover Bitcoin ATMs
The simplest option to find a Bitcoin ATM is thru CoinATMRadar, a complete listing that maps machines globally. The positioning means that you can filter by operator, supported cryptocurrencies, and whether or not machines assist each shopping for and promoting.
Main Operators
A number of corporations function giant networks of Bitcoin ATMs. In response to CoinLaw’s business 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 US accounting for over 81% of all machines worldwide, based on Finbold analysis citing CoinATMRadar information. City areas usually have increased density, although machines more and more seem in suburban comfort shops and buying 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 beneath KYC thresholds, Bitcoin ATMs supply extra privateness than bank-linked trade accounts. Nevertheless, most machines nonetheless accumulate telephone numbers or IDs for compliance functions.
Comfort Seekers
Some customers choose the immediacy of strolling right into a location and finishing a transaction fairly than navigating trade account setup, financial institution transfers, and verification processes.
First-Time Patrons
The acquainted ATM interface helps first-time patrons keep away from the complexity of trade account setup, verification delays, and studying new platforms.
Security Ideas
Essential Warning: Bitcoin ATM Scams Are Rising Quickly
The Federal Commerce Fee stories that Bitcoin ATM fraud elevated almost tenfold between 2020 and 2023. Within the first half of 2024 alone, shoppers reported dropping over $65 million to Bitcoin ATM scams, based on FTC information.
Key statistics from the FTC:
The median loss per sufferer is $10,000
Folks aged 60 and older are thrice extra more likely to be focused
Adults over 60 account for 71% of complete BTM fraud losses
86% of scams contain authorities or enterprise impersonation
Frequent Rip-off Patterns
Scammers usually contact victims claiming to be from authorities companies (IRS, Social Safety), tech corporations, 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 “defend” their cash or pay a “wonderful.”
Learn how to Shield Your self
No legit 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 definitely a rip-off
Legit 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)
Maintain 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
Maintain your transaction receipt till Bitcoin arrives in your pockets
Concentrate on 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. Nevertheless, the comfort comes at a price: charges usually run 8% to fifteen% or increased.
For many customers, on-line exchanges supply decrease charges and broader performance. Bitcoin ATMs take advantage of sense for many who particularly want cash-based transactions, lack financial institution accounts, or strongly choose the immediacy and bodily nature of ATM-style purchases.
Given the fast rise in Bitcoin ATM scams, anybody utilizing these machines ought to train excessive warning. Bear in mind: no legit group will ever direct you to pay them by way of a Bitcoin ATM.
