How To Transfer Cash To Bitcoin
Need to send cash to someone quickly, easily, and privately? A Bitcoin ATM may be the perfect solution. You don’t have to own Bitcoin yourself, but if you do own Bitcoin, you don’t have to spend it to send someone cash. You can instantly send cash, using your Coinsource Bitcoin ATM account.
- After completing a trade successfully, you can send or spend Bitcoin to any wallet or service directly from your Paxful wallet. With over 300 payment methods available, buying Bitcoin online has never been easier. From cash and bank transfers to gift cards and payment applications, you can select the option most suitable for you.
- Fees and Alternatives. As we saw in Step 9, Cash App charges a fee for bitcoin purchases. Until 2019, this fee was baked into the exchange rate, but in the interest of transparency, the company announced it would display fees separately.
Transferring Bitcoins Between Wallets
Step 1: Enroll Before You Go!
Create an account with Coinsource if you don’t already have one, and log in. The process only takes a few minutes. Need help? Check out this enrollment guide, or contact support for help!
Financial firms BNY Mellon and Mastercard said last week they would offer support for digital assets, while the city of Miami is seeking to allow the use of bitcoin for paying workers, and for fee and tax payments. As the use of physical cash declines, a CBDC would be a safer digital payments alternative to cryptocurrencies.
Step 2: Locate The Nearest Bitcoin ATM
Convert Bitcoin To Money
Find the Coinsource Bitcoin ATM closest to you with this simple tool. First, enter your location. This can be your city, state or your current location. Then, tap the directions button on the location closest to you. Coinsource has locations across 44 states, all with no hidden fees. Plus, they always keep their Bitcoin price up-to-date.
Step 3: Insert Cash Into The Bitcoin ATM To Transfer To Bitcoin
Insert your cash into the Bitcoin ATM. You can deposit $5 to $5,000 daily at any Coinsource kiosk. Make sure you do not leave the kiosk at this point, until the transaction is complete. If you run into any issues during the transaction, please reach out to our support team.
Step 4: Enter The Recipients’ Wallet Address To Send Bitcoin
Enter the recipients’ Bitcoin wallet address – Follow the instructions on the kiosk screen, and indicate the Bitcoin wallet address of the recipient.
The recipient receives the equivalent amount of Bitcoin into their wallet. Don’t worry about paying any pesky miners fees! Coinsource will pay all miner’s fees when you use their kiosks to buy/sell Bitcoin, or send cash.
Step 5: Have The Recipient Withdraw Their Bitcoin To Cash
The recipient then has several options on how to convert the Bitcoin they received to cash, if that’s what they want. The fastest way to do this is by using a Coinsource Bitcoin ATM to convert the Bitcoin to cash and withdraw it.
Transfer Bitcoins To Bank Account
That’s it! So, next time you’re needing to send cash to someone, use a Bitcoin ATM! It’s safe, fast, and only takes 5 steps to finish.
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