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It's usually best to rely on a mixture of US dollars - the most easily exchanged currency - and debit or credit cards.
This means you're told upfront exactly how much you'll pay in fees and the amount you'll receive in the exchanged currency.
If a user doesn't have a wallet, the machine generates a piece of paper which is the amount of Bitcoin they've acquired — think of it like a cryptocurrency version of a dollar bill, except the value is however many Bitcoins or Satoshis the user has exchanged currency to receive.
The machine has a touchscreen to step the depositor through the process; a camera for scanning their Bitcoin QR code where they want the exchanged currency deposited (the machine displays the current exchange rate on the front); and a slot for feeding bank notes into the ATM, which they say will support multiple currencies.
If you've never exchanged currency before, it's a good idea for you to understand a bit about the process so that you don't get any expensive surprises.
Similar(54)
One small inconvenience about this country hopping is exchanging currency.
Mainland tourists can also exchange currency, check their e-mail and sip a caramel mocha latte.
We stand here all day, exchanging currency for people who come by, making a few cents on every transaction".
Salem bin Mahfouz was employed for many years exchanging currency for pilgrims to Mecca, and became a partner in a lucrative currency business in 1949.
Such transactions take advantage of the fact that banks exchanging currency often operate in different time zones and on different working calendars.
Familiarity has dimmed the excitement of the freedoms won: to travel, to shop, to exchange currency, to change jobs, to move house, to think, to speak.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com