Bitcoin ATMs will accept cash and then dispense Bitcoins. In some cases, they will buy Bitcoins for cash. Since the goal is to be anonymous, there are usually strict buying limits. Instead of thinking of a Bitcoin ATM in the same sense as an ATM where cash can be pulled out of a bank account, it is better to think of it as a physical Bitcoin exchange. The ATM has a scanner, cash dispenser, and a computer that manages all transactions.
When Bitcoins are dispensed from a Bitcoin ATM in Orlando, Florida, they are dispensed to a paper wallet that is generated and printed at the ATM when the purchase is made or to the individual’s Bitcoin wallet. The QR code from a paper wallet or the buyer’s mobile device can be scanned to access the Bitcoin wallet.
When it comes to the fees associated with using a Bitcoin ATM in Orlando, Florida, the price will depend on the current exchange rate for Bitcoin. The ATM will have this information available in real time via the Internet. It is common for a person to be charged an additional fee for using the ATM. Most can expect to pay anywhere from eight to nine percent. It is important for a person to read the instructions that are presented when using the ATM in order to understand how much they will be charged.
RockItCoin Bitcoin ATM distributes and operates Bitcoin ATMs that allow people to instantly buy and sell Bitcoins. Learn more about their ATMs and the services they provide by visiting their website.
