How does the bitcoin ATM work?

The ATM currently works in two languages (Hungarian and English), which you can set on the home screen. Next, you can indicate whether you would like to buy or sell bitcoin. The selling process is written below, together with frequently asked questions.


Selling Bitcoin

(1. Choose your language)

1. Choose “I WANT CASH” and give the desired amount in HUF (note that you can sell minimum 10,000 and maximum 300,000HUF worth of bitcoin)*
2. Enter your phone number**
3. Type the 6-digit code you received via text message into the ATM
4. Scan the displayed QR code with your mobile wallet’s camera (Click “Scan QR code” or tap the camera icon)
5. Set your transaction fees to a higher rate (‘High priority miner fee’)***
6. Send your bitcoins to the given bitcoin address
7. The bitcoin network is reviewing and recording your transaction, this may take a few minutes, or in the case of heavy network traffic, even a few hours (you can speed this up by raising the transaction fee, see below)
8. Wait for a text message to arrive (you will receive it right after the first confirmation)
9. When you have received an SMS with the message, “Your cash is waiting for you.” Go to the ATM and select the “REDEEM” option.
10. Enter your phone number
11. Type the 6-digit code you received via text message into the ATM
12. Collect your cash. The opening of the banknotes dispenser can be found on the machine at knee-height.****
    
    
    * You can sell minimum 5,000 and maximum 300,000HUF worth of bitcoin.
    
    ** The ATM accepts all phone numbers regardless of country code, but unfortunately some mobile service providers don’t accept text messages from our ATM (for example, as far as we know Tesco Mobile does not support text messages from us), or in some cases the text is not received due to a temporary error. If you don’t receive the text, please step out of the restaurant for a minute or two, to where there is better coverage to increase your possibility of receiving the message.
    
    ***When you sell bitcoin at the ATM, you can pick up your cash after the first confirmation. The speed of this exchange doesn’t depend on us. The sales process usually takes 10-40 minutes, after which you will receive a text message with instructions to pick up your cash.
    You can speed up the transaction time by raising the transaction fee before you confirm the sale. This is another reason we recommend using the Copay (for iOS, Android, and Windows phones) or Mycelium (for Android) wallet. These give you the option to raise the transaction fee, so that the bitcoins arrive more quickly to the given address (you can find more information about this here).
    
    ****We ask that in all cases, you check to see if the ATM has released any cash. Even if the ATM shows an error message, it may release the entire amount, or part of it. If our database confirms that the amount was released but you did not collect the amount, we are not able to reimburse you!
    
    *****If you have any issues picking up cash, contact us immediately: https://www.mrcoin.eu/contact