In order to make a cash withdrawal and sell your Bitcoin from the ATM, the machine provides a QR code to which you send your Bitcoin. You simply wait a couple of minutes and receive your cash.

A new report from the Federal Trade Commission (FTC) shows that money lost to fraudulent bitcoin ATM scammers increased nearly tenfold between 2020 and 2023. Per the spotlight report published on ...

Consumers lost $66 million to crypto ATM fraud in the first six months of 2024, the Federal Trade Commission said. The money often cannot be recovered.

Most of us are familiar with ATMs that can be used to withdraw cash, but Bitcoin ATMs are becoming more common. They are also a favorite tool for scammers.

That zips the money directly to the thieves' crypto wallet. The bottom line, according to the FTC: "Don't believe anyone who says you need to use a Bitcoin ATM to protect your money or fix a problem.

Learn how to send money abroad using cryptocurrency. Discover quick, cost-effective methods to transfer funds to family and friends worldwide.

Bottom line If you’re looking to cash out some crypto, know that there are plenty of options. You can use a crypto exchange, a brokerage account, a peer-to-peer app or even a Bitcoin ATM.