In this case, you’ll need a wallet that specifically supports Bitcoin — one that allows you to send and receive Bitcoin.
They look like traditional ATMs, but they allow you to deposit or withdraw cash in exchange for Bitcoin.
Bitcoin ATMs are not as common as typical ATMs yet, so you might not find one easily, especially if you live in a big city.
If you do not have a Bitcoin wallet, you can also opt to print a paper wallet at the kiosk, which you can later use to import your Bitcoin into a wallet.
The only difference is that you will need to select the option to sell —not buy — Bitcoin when you’re at the ATM.
As with buying Bitcoin, you’ll need to find a Bitcoin ATM near you.
If you’re selling Bitcoin, you will need to provide the receiving address, so the ATM knows where to send the cash.
The ATM will then dispense the corresponding amount of cash, and that’s it! You’ve now successfully sold Bitcoin at a Bitcoin ATM.
Most Bitcoin ATMs charge a percentage of the transaction as a service fee, with a minimum amount charged per transaction.
Generally, though, Bitcoin ATM operators need to register with the Financial Crimes Enforcement Network and comply with the Bank Secrecy Act’s Anti-Money Laundering provisions.
Note that even if an ATM doesn’t charge any service fees, the price of Bitcoin on these machines tends to be higher than the going rate on exchanges.