Cryptobase ATM is a company that installed the first Bitcoin ATM in London, England. The ATM`s features a 24-hour live customer service team to help you with all of your transactions. You can either insert cash into the machine or send bitcoins to it from your computer via email to fund your account.
Security
When using the Cryptobase ATM, security is of utmost importance. They use a biometric scanner to ensure that the machine’s person is indeed who they claim to be. The scanning is performed on your finger, and it’s the most accurate form of identification one could get.
Technology
The is an open-source machine which means that anyone can alter the software to fit their needs. The machine is fully open source, and you can download all of the schematics in PDF format on their website. All updates are also done via the Internet, so you don’t have to visit the Cryptobase office. The company hopes to release the schematics in 3D by next year, but there’s no guarantee they’ll be released before then.
How To Sell Crypto At A Cryptobase ATM
- Once you’ve found a Cryptobase ATM near you, visit the machine and pay the transaction fee of 3% to deposit fiat government currency into the machine. You can send bitcoins to it instead, but that will cost you 1% more than sending fiat currency due to bitcoins being sent immediately and having a higher transaction fee.
- After you’ve inserted your cash, the machine should show that your balance is 10% of the amount you inserted. The machine takes on a slightly higher risk by accepting cash, so they add a small fee of 10%.
- Now that you have fiat currency in your account click on Sell BTC to buy bitcoins for this account. If you don’t have any bitcoin to sell, you’ll be able to deposit bitcoins into your Cryptobase ATM account.
- After clicking on Sell BTC, a new screen will pop up asking for your address and the amount of bitcoin you want to sell at the market price which is determined by the current price posted on coinmarketcap.com
- Once everything is filled out, click on Send Verification and submit your email address to send a verification email to your inbox. Click on the verify button on the email to proceed.
- After verifying your email, you can enter your bitcoin address where you want to receive your bitcoins. You’ll also see a box showing you the expected value of receiving your bitcoins at that address. It is calculated by taking the amount of bitcoin you have, adding any fees, and converting it all to fiat via an exchange like Coinbase or Blockchain so that it’s easier for those buying your bitcoins to pay you back in fiat currency.
The Cryptobase ATM is a good idea that lives up to its promises. It’s fast and easy to use, and the platform is intuitive, so it should gain more users in no time. The only issue we’ve noticed during our test run of the machine has been that there have been many anomalies with the platform that have come from bugs introduced during the development process. These are listed as known issues on their website.
