How to Buy Bitcoin Memphis

by | Aug 1, 2018 | Money and Finance

If you’re looking for a convenient way to buy Bitcoin in Memphis, all you have to do is head to one of the ATMs located around the city that offers this cryptocurrency. Fortunately, they’re quite easy to find. There are RockItCoin ATMs located at the Lion Market on Chelsea Ave., one at the BP Gas Station on New Brownsville Road, one at the Shell on Appling Road, and one located at Globe Liquors, which is on Barron Ave.

How Can You Buy a Bitcoin?

Memphis Bitcoin ATMs are relatively easy to use, but you’ll want to make sure that you understand what is expected before you head out to the machine. First, consider getting your Bitcoin wallet set up before you make the trip. Although it is possible to do it at the ATM, having it handled before you get there is going to make the process much faster.

Once you get up to the machine, you will press the button that says, “Buy Bitcoin,” and then choose the amount that you want to buy from the transaction tiers that are listed on the machine. Next, you’ll enter your mobile phone number into the ATM. If it is the first time that you have used the machine, you are going to get a text which will provide you with a code that you need to access the machine. At that point, you can set up your own PIN, which you will use whenever you visit one of the RockItCoin machines in the future.

Follow the remainder of the instructions that come through the ATM, and then choose where you want the Bitcoin to be sent. There are three different options for your Bitcoin’s destination. First, you can have it sent to a digital wallet, which can be scanned from your smartphone. Another alternative is to create a new paper wallet if needed. However, this is a relatively riskier option, as you cannot lose the receipt given the paper wallets are nonrefundable. Your third option is to manually enter your Bitcoin address on the touchscreen. Keep in mind that you need to make sure that you are entering the address perfectly, or else the Bitcoin could be sent to the wrong address. Unfortunately, when this happens, it cannot be recovered.

Then, you can put in the cash and take your receipt. While there are a few more steps than using a traditional ATM, it is still quite familiar and easy to use.

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