Education, How Abra Works

Convert Cash to Crypto with Coinflip ATMs

If you are sitting on a pile of cash and you want to convert cash to crypto, Coinflip has a solution for you. They have a network of ATMs where you can buy (and in some cases even sell) crypto with your hard cash. I was impressed with the total coverage nationwide with over 1100 ATMs. The fees are set at 6.99% with a $.99 transaction fee. That might seem steep, but considering this company has enormous capital costs to deploying all this hardware and managing operations to handle physical cash it makes sense.

convert cash to crypto
Crypto currency ATMs in San Antonio helps you convert cash to crypto on the spot

Which coins are supported?

You can buy Bitcoin (BTC), Litecoin (LTC), Ethereum (ETH), Dash (DASH), Binance Coin (BNB), Chainlink (LINK), Stellar (XLM), USD Coin (USDC), and Dogecoin (DOGE)

Where can I find a Bitcoin ATM?

The Coinflip network has over 1100+ ATMs throughout the US. Use their locator to find ones near to you. Not all of them support sell functions so be sure to check that if you are looking to get cash by depositing crypto.

How to convert cash to crypto step-by-step

The process is fairly simple and it is compatible with your Abra wallet. In the video below, you can see that their ATMs can read the QR code in your Abra deposit screen. Here are the steps to convert cash to crypto:

  1. Select the currency type you want to buy.
  2. Review and accept the terms and conditions.
  3. Enter your phone number and wait for a text message.
  4. Enter the code provided in SMS.
  5. Scan the QR code in the Abra deposit screen with your BTC or ERC20 address depending on the currency you are buying (learn more about how to deposit crypto in Abra).
  6. Deposit your cash into the ATM.
  7. Complete your transaction and wait for your deposit to arrive.

See it in action

What are the transaction limits for converting cash to crypto?

Purchase minimums vary from coin to coin, starting at $5, with the minimum purchase for Bitcoin being $20. The daily upper limits vary depending on how much information you provide to Coinflip.

Tier 1: Buy up to $900 per day, simply use your phone number at the ATM.

Tier 2: To increase the limit to $2995 per day, submit your ID at the ATM. The ATM will walk you through the steps.

Tier 3: To increase the limit to $8000 per day, call us and verify yourself through a SSN (social security number) screening.