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How to buy cryptos with cash at our Bitcoin ATM in Cuenca ?

How to buy cryptos with cash at our Bitcoin ATM in Quito ?

Step #1. Download a digital wallet.

To use our Bitcoin ATM’s, you must first have a digital wallet. There are wallets only for Bitcoin, like BlueWallet, or multiple crypto like TrustWallet.

IMPORTANT: When you create a wallet, write down on a paper the seed phrase, usually it has 8, 12 or 24 words. This is your private key; the only way to access and recover you criptos. Don’t make a screenshot or video of the seed phrase. Keep it in a safe place. Don’t share your seed phrase with anyone.

Step #2. Select the crypto that you want to buy at our ATM.

Select the crypto you’d like to purchase, and scan the QR code on your digital wallet. This can be found by pressing the Receive button on your digital wallet.

Step #3. Insert your cash.

Insert the banknotes, one at a time, into the banknote validator. If the ATM minimum transaction is set to $20, so the first banknote must be $20 or larger.

Discount code: If you have a discount code, after inserting your bank notes, tap the button “Insert discount code” and insert the code. The code will discount the fees of the transaction, not the price of the crypto currency.

Step #4. Receive your cryptos.

Once you have inserted all the banknotes, press the “Buy” button and receive your cryptos.

Depending on the amount of transactions in the Blockchain, it could take between 3-6 confirmations to receive your cryptos. Please take a look at our FAQ section.

How to sell Bitcoin at our Bitcoin ATM’s?

Step #1. Select the crypto that you want to sell at our ATM.

The process is the same to sell Bitcoin, LTC or any other cryptocurrency available at our ATMs. If the ATM does not have cash, the sale option will be disabled.

On the ATM screen, select the cryptocurrency you want to sell and then select the “Sell”.

Step #2. Select the amount of cash you would like to receive.

On the screen, select the amount of cash you want to receive. You cannot exceed the number of bills available at the ATM. The minimum amount to sell is $20.

Once you have selected the amount of cash you want to receive, select “Sell”.

The ATM will issue a printed receipt with a QR code with the address to send the amount of Bitcoin (or any other selected cryptocurrency) and the time limit to make the transaction.

IMPORTANT: Keep the receipt, the QR code printed on it is the only way to obtain the cash once the transaction has been confirmed.

If the transaction has not been made within the set time limit, it will be automatically canceled. If you have sent the selected cryptocurrency to the address established on the printed receipt but have exceeded the established time limit, you can contact us by providing a photo of the printed receipt.

IMPORTANT: We recommend sending Bitcoin (or any other selected cryptocurrency) from your personal wallet paying a medium/high commission so the transaction its confirmed before the time limit established on the receipt.

Once the selected cryptocurrency has been sent, you must wait for at least one confirmation to proceed to the next step, the confirmation time on the Bitcoin blockchain is approximately 10-20 minutes.

Step #3. Redeem your ticket.

Once the transaction is confirmed, on the ATM screen, select the cryptocurrency you sold and then select “Redeem Ticket”.

In the ATM, place the QR code of the printed receipt in the code reader. The ATM will proceed to check if the transaction has been confirmed.

IMPORTANT: If you receive an error message indicating that the transaction has not yet been confirmed, please wait a few more minutes until it is confirmed.

Step #4. Withdraw your cash.

Once the transaction is confirmed, the ATM will deliver the cash.

How to send bitcoins to the Lightning Network (LN)?

Step #1. Download a Bitcoin Lightning Wallet app.

For this example, you will download Wallet of Satoshi to show how to fund your LN wallet using one of our Bitcoin ATM’s.

This is a mobile custodial wallet, which means that you don’t control your Bitcoins. The wallet is available for iOS and Android.
Wallet of Satoshi is a centralized service that stores Bitcoins for you and takes care of opening payment channels for you as well.
The wallet is super simple to operate. You just download the app and can instantly start sending and receiving LN payments.
There’s no need to even create an account. Your device acts as your “username”, and as long as you don’t delete the app or lose your phone you can continue using the wallet.
You can also sign up with an email address in order to backup your account (in case your phone gets broken or lost). Additionally, you can also view merchants in your area that accept LN payments.
If you’re just looking to test out some LN payments, this is probably the best way to get started. Fund your wallet with a small amount of Bitcoin and start making payments.

Step #2. Fund your wallet.

Select “Receive”.

Step #3. Send some satoshis.

At one of our Bitcoin ATM’s, proceed with the purchase of bitcoin following the tutorial How to buy cryptos with cash at our Bitcoin ATM’s ?

The QR code that you have to show to the ATM is the one generated by Wallet of Satoshi when you select “Receive – Bitcoin”.

Step #4. Start using Lightning.

Once you send your transaction, it will require 3 confirmations before your balance appears on your Lightning wallet. Welcome to Lightning. Now you can pay for everything you want at the speed of light ⚡️

For more information about BlueWallet and Lightning Network, please check here.