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Home > Blog > Article: “How Many Bitcoin Confirmations Are Needed at Bitcoin ATM”
Cash withdrawals are subject to the operator's policies and the status of the order. The mere fact that a transaction appears in your wallet or that you've received an initial confirmation does not mean that the bills are ready for pickup.
0 confirmations means the transaction is awaiting inclusion in a block. The first confirmation occurs when the transaction is added to the blockchain; each subsequent block adds another confirmation and reduces the risk of the transaction being reversed.
There is no single threshold that applies to all operators. The requirements depend on the service, the amount, and the type of transaction. Six confirmations are often cited as a precautionary measure, not a protocol requirement. Check the order status before picking up the cash.
A new block is created on average about every 10 minutes, but a transaction may not be included in the next one. Therefore, six confirmations do not guarantee settlement within an hour.
When the network is heavily loaded, a low fee may result in a longer wait for the first block. A higher fee increases the chance of faster confirmation, but does not guarantee a specific timeframe. The network fee is separate from the exchange rate and the operator’s fees.
When buying BTC with cash, check the recipient's address and the amount, and keep the confirmation from the device. The wallet may show the transfer as pending until the first confirmation.
When selling, send BTC to the address provided by the system and keep the barcode for withdrawal. The QR code for sending BTC and the barcode for receiving banknotes serve different purposes. Before you leave, check the order status, operating hours, device functionality, and CHF availability. According to the instructions available on rothbard.eu, the withdrawal code is valid indefinitely; other operators have their own terms and conditions.
A change in the market price of BTC while your withdrawal is pending does not automatically result in a recalculation of the withdrawal amount. The terms of the order determine the outcome: the time the exchange rate is set, the validity period of the valuation, and the rules regarding late or incomplete payments. Before confirming, make a note of the BTC amount, the withdrawal amount in CHF, the fees, and the order number.
Check the TXID on the Bitcoin network and the order status with the service provider. The TXID identifies the transfer on the blockchain; the order number and withdrawal code may be different. If there is no TXID, check your wallet to see if the transfer has been sent. The ability to increase the fee depends on the wallet and the transaction.
If the transfer is confirmed but the withdrawal is unavailable, do not send BTC again. Contact customer support, providing the TXID, order number, date, time, location, and amount. Keep the confirmation and withdrawal code. Do not post the code, document details, or your wallet’s recovery phrase.
Rothbard.eu is developing the Bitcoin ATM aggregation platform in Switzerland, allowing users to find locations where they can buy and sell BTC and other cryptocurrencies for cash. The kiosks are available in Zurich, Geneva, Basel, Lausanne, Lucerne, Lugano, and Mendrisio, among other locations, and their current status and availability of funds can be checked online on the website’s map.
This material is for informational purposes only. It does not constitute investment, tax, or legal advice.
