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best.iconcompany.org � blog � what-is-a-bitcoin-atm. Simply put, a Bitcoin ATM is a physical machine where you can purchase Bitcoin with cash or sell it and get cash in return. We're. Bitcoin ATMs work by connecting to a Bitcoin exchange. When you use a Bitcoin ATM, the machine will give you cash in exchange for your bitcoin.

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Bitcoin ATMs are becoming increasingly popular, with the latest numbers reporting more than 35, of these machines worldwide. Larger transactions usually require Know Your Customer KYC verification to comply with anti-money laundering regulations. Bitcoin ATMs have gotten some flak recently for charging high transaction fees. October 18, by Will Haynie.