One of the most confusing parts of buying bitcoins from ATM is understanding how the coins get transferred to your control. This is especially confusing for new users and first-time buyers.
This post will aim to help make this process more clear for you before you make your way to a bitcoin ATM.
In most cases, ATMs ask you to scan a QR code of a Bitcoin address. This is where the bitcoins will be delivered to after you deposit cash. So, all you really need to do is figure out how to access the receive screen of your wallet that shows a Bitcoin address and corresponding QR code. We’ll show you how to do this using 2 iOS wallets and 2 Android wallet as examples. Even if the wallet you use isn’t featured in this post, know that the process will be very similar.
Mobile Wallets for iOS
May 2017 was a great month for all cryptocurrencies growth. Bitcoin also grew substantially in price ($2400 at the end of May).
This has driven a lot of new demand and new users to cryptocurrency world. New traffic to existing bitcoin ATMs incentivized new installations. Here is the stats for May 2017:
Period Start: 1158, Period End: 1236
Open: 95, Closed: 17, Net Growth: +78 (+6.7%)
Los Angeles is a conglomerate of various bitcoin ATMs, which are operated by plenty of different operators. If you are in any district of the city, it is likely there will be a bitcoin ATM nearby.
Find all bitcoin ATM locations in Los Angeles.
Los Angeles currently has 80 bitcoin ATMs installed. After NY with 86 machines, LA is the second largest conglomerate with respect to number of installed bitcoin machines.