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Definition: Bitcoin ATM


A stand-alone automatic teller machine (ATM) for buying and selling bitcoins. As of 2020, there are more than 3,000 Bitcoin ATMs worldwide with more than a thousand in the U.S. ATMs are also available for Litecoin, Ethereum and other digital currencies. Like regular ATMs, a processing fee is applied, which ranges from 4% to 15% of the transaction amount. For more information, visit www.coinatmradar.com. See Bitcoin exchange.




A Pennsylvania Bitcoin ATM
Located in at the Quakertown Food Mart in Quakertown, Pennsylvania, this Bitcoin ATM stands next to a regular ATM machine. Accepting and dispensing only cash, the ATM prints a "paper wallet" with QR codes that can be scanned (see Bitcoin wallet).






Cash and Credit Cards
Weighing 400 pounds, this Genesis 1 Bitcoin ATM handles cash and credit cards. It also dispenses cash. Purchases and sales are entered directly into the user's mobile wallet via QR codes. (Image courtesy of Genesis Coin Inc., www.bitcoinatm.com)