BUY BITCOIN WITH CASH

General

There is a general buy process at all bitcoin ATMs:

  • Verification step (optional and may vary substantially depending on machine’s type)
  • Provide bitcoin address for the deposit (optionally can be generated and printed/emailed at some ATMs on the fly, but better to have your own with you before using a machine)
  • Insert cash into the ATM
  • Confirm operation (bitcoins sent to your bitcoin address at this moment)

This process may vary from ATM to ATM, and this is what we describe for every of the mentioned above bitcoin ATM types.  It is important to understand that even when a machine’s software/hardware support compliance procedures, they are not necessarily activated, as it depends on the operator choice of every particular machine. That is why the same type of machine might have different verifications and limits set up.

Genesis1 bitcoin machine (Genesis Coin)

Genesis1

San-Diego based company Genesis Coin produces three types of ATMs: Genesis1 (two-way), Satoshi1 (one-way) and Satoshi2 (two-way). The process of purchasing bitcoins may have a verification procedure, in this case:

  • Click “Buy Bitcoins”
  • Provide mobile number
  • Enter received a validation code
  • Scan fingerprint
  • Select coin (this type of machine may support not only Bitcoin but also Litecoin, Dogecoin, Blackcoin, XCurrency)
  • Choose to scan wallet (pre-defined) or generate new
  • Scan wallet QR code if chosen
  • Insert cash bills
  • Click send
  • Get printed receipt

Satoshi1 and Satoshi2 bitcoin ATM models (Genesis Coin)

Satoshi1 is a one-way ATM model from Genesis Coin producer. So you can only buy bitcoins from this machine for cash. Satoshi2 is a very similar looking unit, but it has dispenser slot and allows both buy and sell bitcoin transactions. However, buying bitcoins is identical at both of them.

Satoshi2

The process flow is identified as the one for Genesis1, we just looked at. But here is an example of how bitcoins can be purchased at this machine:

  • Choose “buy bitcoin”
  • Choose the amount you want to buy (usually the higher the amount, the more verifications you need to do. Important! The limits and verification procedures are set by the operator and can be different on the same type of machines at different locations, they might even be omitted)
  • Enter the phone number using ATM pin pad, get SMS code and enter the received code
  • Then there are several options on the screen how you want to provide an address where bitcoins to be sent: choose QR code if you have a wallet already (recommended), you can also generate and print an address by machine, or just input your address manually.
  • Then scan the QR code of your address, and input cash bills
  • Click finish when you are ready, and bitcoins will be sent to you immediately
  • At the end, you can print the receipt about the transaction or get it emailed to you

General Bytes BATMTwo

General Bytes

General Bytes ATM may be set up to provide services to:

  • anonymous users
  • anonymous users + fingerprint scan
  • registered users

Depending on how the operator sets up the machine the process is different.

Also, this Bitcoin ATM does not have a receipt printer, but additionally to the option of using existing wallet the user can define email, where the encrypted private keys of a newly generated address will be sent with further instructions how to use it. The process of buying bitcoins using your email is the following:

  • Choose language
  • Click “Buy Bitcoins”
  • Define the amount interval you want to buy (depending on this verification procedures may vary)
  • Choose to receive by email
  • Save password which will be used to encrypt the sent file
  • Insert cash bills
  • Click “Buy Bitcoins”
  • Click “Done”