Need to send cash to someone quickly, easily, and privately? A Bitcoin ATM may be the perfect solution. You don’t have to own Bitcoin yourself, but if you do own Bitcoin, you don’t have to spend it to send someone cash. You can instantly send cash, using your Coinsource Bitcoin ATM account.
Step 1: Enroll Before You Go!
- Step 4: Send a small amount of bitcoin to the public address you created within your Bitcoin wallet using the “send” function in the place you send money through bitcoin obtained your bitcoin Bitcoin is a decentralized, peer-to-peer network that enables its users to send money to each other.
- Sending Bitcoin Open your Bitcoin.com wallet app and select Send. Copy and paste the recipient’s wallet address into your own wallet app. Or, if you’re in person, select Scan QR code and simply scan it with your app.
Insert your cash into the Bitcoin ATM. You can deposit $5 to $5,000 daily at any Coinsource kiosk. Make sure you do not leave the kiosk at this point, until the transaction is complete. If you run into any issues during the transaction, please reach out to our support team. Sending money is simple – every time. Western Union gives you choices, so you can transfer money the way that works best for you. Prefer not to visit a retail location? Send money online or on our mobile app. You can also send money by calling 1-800-CALL-CASH ® (1-800-225-5227) to send money within the U.S and to most international locations. How to Send Bitcoin from Coinbase to Binance Let your mouse hover over the tab that resembles a person’s head and shoulders. A drop-down menu will appear. Click on the “estimated value” button and you will be brought to a page that will list all of the coins you can exchange on the platform as well as your balance for each.
Create an account with Coinsource if you don’t already have one, and log in. The process only takes a few minutes. Need help? Check out this enrollment guide, or contact support for help!
Step 2: Locate The Nearest Bitcoin ATM
Find the Coinsource Bitcoin ATM closest to you with this simple tool. First, enter your location. This can be your city, state or your current location. Then, tap the directions button on the location closest to you. Coinsource has locations across 44 states, all with no hidden fees. Plus, they always keep their Bitcoin price up-to-date.
Step 3: Insert Cash Into The Bitcoin ATM To Transfer To Bitcoin
Insert your cash into the Bitcoin ATM. You can deposit $5 to $5,000 daily at any Coinsource kiosk. Make sure you do not leave the kiosk at this point, until the transaction is complete. If you run into any issues during the transaction, please reach out to our support team.
Step 4: Enter The Recipients’ Wallet Address To Send Bitcoin
Enter the recipients’ Bitcoin wallet address – Follow the instructions on the kiosk screen, and indicate the Bitcoin wallet address of the recipient.
The recipient receives the equivalent amount of Bitcoin into their wallet. Don’t worry about paying any pesky miners fees! Coinsource will pay all miner’s fees when you use their kiosks to buy/sell Bitcoin, or send cash.
Step 5: Have The Recipient Withdraw Their Bitcoin To Cash
The recipient then has several options on how to convert the Bitcoin they received to cash, if that’s what they want. The fastest way to do this is by using a Coinsource Bitcoin ATM to convert the Bitcoin to cash and withdraw it.
That’s it! So, next time you’re needing to send cash to someone, use a Bitcoin ATM! It’s safe, fast, and only takes 5 steps to finish.
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Remittance is a billion dollar business, with over 400 billion dollars sent annually. Sadly for Australians across the sea, sending money home can cost an estimated 12% on top of the amount transferred. If you sent $200 home every week you would spend over $1000 a year just for supporting your family.
Using bitcoin exchanges like CoinJar (a company that lets you buy bitcoin and also sell bitcoin) you are able to:
- Convert your Australian Dollars to bitcoin.
- Transmit that bitcoin to your home country immediately.
- Convert bitcoin to currency quickly and easily at an exchange in your home country.
Below we’ll go through some bitcoin basics, and how to use it for remittance.
We’ve used CoinJar as an example, but you can use this same method with any exchange.
What is bitcoin?
Bitcoin is a digital currency with a global value, low fees and fast transactions. You can quickly buy or sell anywhere in the world with low transaction fees. Learn more about bitcoin here.
Sending money with bitcoin
1. Buy bitcoins with CoinJar
First set up a CoinJar account, then complete a cash deposit. Once this is done simply convert your cash to bitcoins.
2. Send your bitcoins
In your CoinJar, select ‘send bitcoin’. Then input the bitcoin amount you are sending and the wallet address at the other end. (Not sure what a wallet is? We will give you more information below)
3. Convert at the other end
At the other end the person takes the bitcoin they’ve received and converts it at a local exchange.
The tricky stuff
Wallets
Send Money From Bitcoin To Paypal
A wallet is what you use to store bitcoins. There are many options for bitcoin wallets, you can host your own or use an exchange (like CoinJar) and use their wallet feature to cash out. Learn more about wallets here.
Converting at Exchanges
Check out the best exchange options in your home country here. They list the bitcoin exchanges Coins.PH in the Phillipines, btc38 in China and Bitcoin in India. You can also find individual sellers at local bitcoins.
You can even set up an account with a bitcoin exchange in the other country and arrange for the withdrawal on behalf of your family, skipping the rremittance fees without your family having to handle bitcoin.
Compare the options
We had a look at the fees for sending $100 to from Australia to India.
| WESTERN UNION | BITCOIN | |
|---|---|---|
| Amount Sent | $100.00 | $100.00 |
| Fee | $10.00 | $3.10 |
Western Union
Sending $100 costs $10. According to their websites, there may also be fees at the other end, as well as a currency conversion fee.
Bitcoin
Sending $100 costs $3.10 in total. $2 to convert to bitcoin and $1.10 to convert back again. (This is based on CoinJar rates and some of the listed exchanges rates are actually lower than this!)
If you were to send $100 every week you would save $358.80 by the end of the year, which means $358.80 worth of Christmas presents you can send back as well!
To find out if bitcoin remittance will save you money, check out BTCTransit. It will pull current exchange rates and list all available exchanges in the sending and receiving country.
Pros: If you find the right exchange and take the time to set up a good pipeline you might be able to save yourself some money and some time.
Cons: It can be difficult working out which exchange is right for you, and every country is different. Initial set up may require more work than traditional exchange.
Bitcoin is a powerful tool that if used correctly can give you power over your money. It is an emerging technology so start small with your experiments, take the time to do some research and be careful. With that being said this is a great chance to learn more about this revolutionary technology and maybe save some money.
If you currently use bitcoin for remittance let us know @getcoinjar
How Do I Send Money Using Bitcoin
To Note
How To Send Money Using Bitcoin Email
We urge you to do your own research to find an exchange in your home country you are happy with. Every exchange and country is a little bit different.
We are not affiliated with the above exchanges or websites and accept no liability for your dealings with them.
How To Send Money Using Bitcoin
It is also important to check the pricing at other websites,and be aware of the fluctuating price of bitcoin. If you are remitting then try to convert to cash at the other end as quickly as possible.