Bity möchte Ihnen den bestmöglichen Service bieten. Dazu erfassen wir Informationen über Ihren Besuch in sogenannten Cookies. Durch die Nutzung dieser Webseite erklären Sie sich mit der Verwendung von Cookies einverstanden. Hier erfahren Sie mehr über Cookies.

Crypto ATM FAQs

General knowledge

What is an ATM?

An automated teller machine (ATM) is an electronic banking kiosk that allows customers to complete basic cash transactions without the aid of a branch representative or teller. Anyone with a credit card or debit card can access most ATMs.

What is a Cryptocurrency ATM?

A Crypto ATM is a kiosk that allows anyone to exchange cryptocurrency for fiat and vice versa. Some Crypto ATMs, like ours, offer bi-directional functionality enabling both the purchase of crypto as well as the sale of crypto for cash. In some cases, Crypto ATM providers require users to have an existing account to use the machine. Our crypto ATMs do not require a user account or identity verification for up to 5’000 CHF in volume.

What are the benefits of Crypto ATMs and how are they different from exchanges?

There are some major advantages to using a crypto ATM over a cryptocurrency exchange. Below we have listed the top 6 most noteworthy:

1. Instant

Crypto ATMs can complete transactions in minutes. As soon as money has been inserted into our kiosk, a purchase is executed for the total payment amount.

If you’re looking to sell your crypto for cash, our crypto ATMs make it so that you no longer need to wait several days to transfer cash from your bank account to process into your crypto exchange account. Get your cash quickly when you need it most.

2. Easy

All you have to do is follow a simple and clear step by step process when using our kiosks. You do not need to set up an account, online wallet, or deal with lengthy public keys. Your receipt contains a QR code, with the public and private key, which can be scanned and immediately recognized by standard wallet apps, if you have one.

3. Secure

In an effort to support data protection and privacy laws, the infrastructure running behind the crypto ATMs are hosted, operated and managed by us in Switzerland.

The related cryptocurrencies nodes, used to send and receive transactions, are hosted, operated and managed by us as well.

Another security measure is that whenever a new transaction request is made, our kiosk generates a new private key and public key as QR codes printed on a paper known as a “paper wallet”.

  • For buy transactions, don’t forget to transfer your funds from your paper wallet to your favorite crypto wallet to complete the transaction.
  • For sell transactions, don’t forget to keep your redeem ticket safe!

Finally, our support team is entirely based in Switzerland, a country with the highest standard for privacy and regulatory oversight.

4. Flexible

Buy or sell at any of our locations whenever you want. We provide you with a paper wallet that allows you to choose between keeping your cryptocurrency offline on a hard wallet or transfer them to an online wallet. Our crypto ATMs offer great liquidity and flexibility: move your tokens at your convenience to a wallet, exchange, or pay an online bill.

5. Private

We do not require customers to have an account with us or complete identity verification checks to use our kiosks. Following strictly the Anti-Money Laundering (AML) and Know Your Customer (KYC) regulations in Switzerland, we set a maximum sell and buy volume, equivalent to 5,000 CHF, to enable customers to use our kiosks hassle-free. Our crypto ATMS allow you to complete your transactions privately, without the need for human intervention.

6. Local

Our kiosks are located in popular cities in Switzerland, such as Zurich, Zug, Winterthur, Basel, Geneva and Lausanne, making buying and selling your crypto much easier and far more convenient.

Getting started and using the CTMs

What fiat currencies do you accept?

You can buy BTC, ETH and XMR with Swiss Francs (CHF) or Euro (EUR).

You can sell BTC for Swiss Francs (CHF).

What are the limits?

You can complete 5’000 CHF in buy and sell volume at our kiosks. If you would like to buy or sell more, You can open an account on Bity.com and complete the KYC verification.

How do I check the amount of my paper wallet?

Simply scan the QR code on your paper wallet using your favorite wallet application to check the amount. You can also press “check wallet balance” on the Crypto ATM screen on the main Bitcoin menu and scan your QR code as well.

Do I need to verify my identity?

You do not need a user account or identity verification to use our crypto ATMs.

How to transfer funds from your paper wallet to your crypto wallet.

An important consideration after you complete your buy transaction is whether you would prefer to keep your tokens on an online or offline solution.

If you want to import your crypto from your paper wallet (also known as cold storage) to an online wallet, you would first need to install a wallet application. Note that the procedure for creating your new wallet and importing your paper wallet’s private key may slightly differ from application to application, but below we have compiled the basic steps that exist in most wallets:

  1. If you don’t already have one, download a wallet application to your smartphone.
  2. Create your new account.
  3. After successful creation and registration, you will be taken to the application’s account overview / dashboard section.
  4. Find where you can import addresses within the application, then select the option to add a new address.
  5. Scan the QR code of the paper wallet, a successful transfer should then take place.

Why can't I use an exchange or exchange wallet to send payment for my SELL transaction?

We advise our Crypto ATM customers not to send payments from an exchange or exchange wallet (Binance, Bitstamp, Coinbase etc.) as they can take over the time limit displayed on the terminal (generally 10 minutes) to transfer funds successfully, which results in the payment being refused.

When a payment is refused, one of two things may happen:

  1. Best-case scenario: The server recognizes that the payment is being sent but takes too long to process, so the amount then gets “stuck” on the machine’s internal wallet. After the customer reaches out to our support we can review and process the refund manually if this is the case.
  2. Worst-case scenario: The payment is automatically sent back to the exchange address. In these cases, there is nothing else we can do to process the customer refund on our end. When payments are sent from an exchange it is NOT sent from the customer’s personal wallet address but a common wallet address of the exchange. So, when a payment is automatically returned, the exchange doesn’t know which client has to be refunded. The customer then has to contact the exchange personally and fight to be refunded. The usual expected wait time to be refunded is 1-2 weeks.

We understand that in both cases the procedure is generally a long and frustrating process for our customers. So please only use personal crypto wallets to avoid this.

How to check my transaction on the Blockchain?

You can check the current status of your order by going to https://www.blockchain.com and inputting your address or transaction information.

Fees and rates

What is the fee for a buy transaction?

Buying fees can vary. They are generally between 3.5 - 5%.

What is the fee for a sell transaction?

Selling fees can vary. They are generally between 3.7 - 5.5%.

What other fees are there?

A fixed fee will be applied based on the current cost of mining, SMS communication, and all other costs related to completing the transaction. As of 01/11/2018 this fixed fee is 1 EUR but is always subject to change.

Additional third parties fees outside of our services may also apply.

Why are the ATM fees different than the fees for using Bity.com?

The fees are different between the crypto ATMS compared to Bity.com because the logistics, maintenance, support and other administration tasks require different work. We can also achieve high scalability on Bity.com that is not possible on the crypto ATMs.

Our fees cover administration costs, recurring expenses, and allows us to be able to continue servicing and providing our network.

Where can I find live fee information?

Please go to Coin ATM Radar and select the location you are interested in to view its current fee information.

Please note that fee information displayed on Coin ATM Radar is usually slightly higher than the actual fees being charged at the terminal. This is due to the fact that Coin ATm Radar bases their fee rates on a comparison comprised of different crypto rate providers and not our actual fees.

Support and troubleshooting

How do I contact your support?

Support for our crypto ATMs can be reached by email at support-ctm@bity.com Mon-Fri 9:00 - 17:00 GMT+1.

Please include as much information as possible about your request, transaction ID (TX ID), problem, ATM location and time of the transaction, to expedite the process.

Why is my paper wallet / redeem ticket empty?

Your redeem ticket can only be used once to cash out the transaction. Once used, it is no longer valid.

If you believe your redeem ticket hasn’t been cashed out, please see the “I sent crypto but didn’t receive any cash.” FAQ for more help.

How long do I need to wait before the transaction is confirmed?

When buying crypto, you can receive your tokens in as little as 2 minutes but typically within 10 to 15 minutes.

When selling crypto, the transaction can take as little as 10 minutes and up to hours to process, depending on your wallet and how much it pays in mining fees. Some wallet allows you to change the proposed fees to allow for quicker processing times.

I received less cash than what was detailed on my 'Redeem Ticket' / the kiosk confirmation screen.

We do our best to provide excellent service every time you use our crypto ATMs, but in very rare cases an error may come up which results in the payout of an amount lesser than what was stated on your redeem ticket.

If this is the case, you will need to contact our support team and send us the following information:

  • Transaction ID (TX ID)
  • The exact amount you received.
  • The time you used the kiosk.
  • The kiosk location at the time of the purchase.

Once our support has received this information, we will be able to locate the transaction and can then verify that the payout was less than originally required for the payment of your crypto.

After the verification process is complete, the support team member may request one or both of the following:

  • Your bank details for the purpose of a fiat refund via bank transfer.
  • A public key for a crypto refund.

The decision to opt for the former or later refund payment method will be determined internally by our team.

Please note that while we will do our best to adhere to your desired payment method, we can never guarantee the appropriate refund method until a full review of the transaction has been completed.

I sent crypto but didn't receive any cash.

It’s important to first note that until the transaction is confirmed, you will be unable to cash out the value that is available on the redeem ticket. You can check the status of your transaction at https://www.blockchain.com/. Once the transaction has received 1 confirmations, your money will be ready for redemption.

There are a number of reasons why a transaction may not be paid, however, usually processing delays are the main cause of the issue. If you’ve waited for more than 3 hours, simply contact our support to get an update on the transaction’s status.

When a delay is not the cause of a payout issue, the following technical issues may have occurred:

  • Unfortunately the ATM doesn’t have enough cash currently to complete the transaction. You can redeem your funds at any of our other crypto ATM locations near you. You can view all our crypto ATM locations here. Please make sure the status of the ATM is currently online and available before visiting that location for withdraw. Please note: we cannot confirm when an ATM will have enough funds to withdraw at any time.

  • The cryptocurrency value that was transferred to our internal wallet was not enough to cover the amount specified on your redeem ticket, was sent in multiple transactions, or was sent after the time limit displayed on the kiosk. All of these will cause errors. E.g.: you’re required to transfer 0.176 BTC and you send only 0.86 BTC, the transaction cannot be completed.

    • Please note that for cases where insufficient funds were submitted to our internal wallet: your funds will be returned back to the address from where they were received minus transaction and administration fees.
  • You have sent your crypto to a different wallet address then what was provided on the redeem ticket. We hope this isn’t the case but, unfortunately, sending your crypto to an incorrect wallet address will result in an error that Bity is unable to provide support for. Inserting an incorrect address for the recipient will result in the value of your crypto being transferred to another account, an account that we have no way of determining who it belongs to and means your crypto will be lost forever.

  • Your QR code is damaged or an incorrect redeem ticket was provided. If the redeem ticket you’ve obtained is damaged or cannot be read properly by the QR scanner, our crypto ATMs will be unable to recognize your transaction. If you believe that your receipt is damaged, take a photo of your key and the receipt, as proof, and send this to our support email address.

I've damaged my QR code / it won't scan! How do I get my money?

Your redeem ticket will only be valid to scan for withdrawal for up to 30 days after the transaction is confirmed complete. If you have kept your redeem ticket past this allocated time, you will need to contact support to re-activated the redeem ticket to be able to withdraw on our crypto ATM network.

If you have damaged your redeem ticket QR code after a sell transaction, you will need to contact our support for further assistance.

If you have damaged your paper waller QR code after a buy transaction, you can simply manually type out your private key to access your funds.

I'm trying to sell 2000 CHF but the CTM won't let me. Why?

Unfortunately, the ATM doesn’t have enough cash currently to complete the transaction amount specified.

Please try your transaction at one of our other crypto ATM locations near you. You can view all our crypto ATM locations here. Please make sure the status of the ATM is currently online and available before visiting that location.

I've input cash into the machine but now want to cancel my buy transaction. What do I do?

Once you begin a transaction and input a minimum of 50 CHF, you must complete it. The machine has no means of returning money.

I put less than 50 CHF / EUR in a buy transaction and it won't let me complete.

You MUST insert a minimum amount of 50 CHF / EUR into the terminal in order to complete a buy transaction. If you do not insert a minimum of 50 CHF / EUR, you will not be able to complete the buy order. You can only get your money back when you input an unaccepted, or too low in amount, banknote into the bill acceptor.

Hast du eine Frage?

Wenn du die Antwort auf deine Frage nicht finden konntest, kannst du sie direkt über den Bity-Chat stellen.