Buying Bitcoin Local

If you are interested in buying a crypto currency such as Bitcoin, Dogecoin, or Ethereum; how do you convert US Dollars to coin? Crypto currencies are not yet available in many (any?) stores or banks in the U.S.. You can buy crypto currency using an online application such as Coinbase by setting up a link between a debit card (my attempts to use a credit card failed) and a Coinbase account. Another option is to use a ‘Coin’ ATM. The application that I used and recommend to find local coin ATMs is the Internet based Coin ATM Radar web site.

I highly recommend using Coin ATM Radar web site. I’ve used it now in multiple states along the east coast of the U.S. and found the database and its data to be very accurate. It’s important to note that the site presents a lot of information beyond just the location of an ATM. That information includes the fees charged to buy the crypto currency and the authentication mechanisms (SMS text and possibly ID) used to access the ATM.

Coin ATM Radar is also available as a smartphone application. I installed this on my iPhone and found that once you identify what country you are interested in the app downloads a database of ATMs in that country. That initial install takes some time depending on your Internet connection speed. Subsequent use of the app starts with checking to see if the ATM database needs to be updated.

It’s important to note that Coin ATM Radar is reporting on the location and policies of ATMs operated by many different ATM companies or Operators. Each of these Operators sets their own policies regarding whether they buy and sell or just sell crypto currencies. Each Operator sets it’s own supported coins and fees as well as monetary limits and how users of the ATM are verified. Every ATM I’ve used to date has charged a small fee. For verification most ATMs I used require SMS verification via a smartphone but some do add the requirement to scan your state issued ID.. When using an ATM to buy Bitcoin you can deposit your money and receive a paper wallet receipt (that you then scan into your wallet) or scan your public key (from your smartphone and wallet app) for the funds to be deposited into your account.