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Home > Blog > Article: “How to Sell Bitcoin for Cash at a Bitcoin ATM in Switzerland”
At most Bitcoin ATMs in Switzerland—listed here on this website—you can send BTC from your wallet and, once the transaction is confirmed, withdraw cash. The instructions below guide you through the process of selling directly at the machine. Before your visit, make sure you have your phone with access to your Bitcoin wallet and a valid ID, and check the map for the opening hours and cash availability at your chosen Bitcoin ATM.
Select Bitcoin and check the selling rate
On the Bitcoin ATM screen, select Bitcoin, then check the current exchange rate and the withdrawal currency. If you’re satisfied with the terms, press the “Show QR Code” button. Before proceeding, make sure the Bitcoin ATM supports withdrawals and has enough cash on hand. Check the final withdrawal amount in the transaction summary.
Keep the printout with the two codes
The Bitcoin ATM will print a confirmation needed for the next steps. The top QR code contains the address to which you will send BTC from your wallet. The bottom barcode is used later to receive cash. Do not mix up these codes, and keep the printout until the withdrawal is complete. If the Bitcoin ATM does not print the confirmation, follow the on-screen instructions or contact customer service.
Open your own Bitcoin wallet
On your phone, open the wallet from which you want to sell BTC, and select the “Send” option. Check your available balance and the network fee, which the wallet will display before you confirm the transfer. If you’re using an exchange account, keep in mind that the withdrawal processing time may also depend on the exchange’s procedures. For the next step, you’ll need the top QR code from the ATM Bitcoin printout.
Scan the QR code at the top of the printout
In your wallet, select "Scan Recipient's Address" and point your camera at the top QR code. Once scanned, compare the address in your wallet with the address displayed by the Bitcoin ATM. Also, make sure you’re sending BTC on the Bitcoin network. Do not confirm the transfer if the details don’t match. Save the bottom barcode for when you’re ready to withdraw cash.
Enter the amount and confirm the BTC transfer
Enter the amount of Bitcoin you want to sell in your wallet. Before confirming, check the recipient’s address, the amount, and the network fee. Then confirm the transfer according to your wallet’s instructions. Once sent, cryptocurrency cannot be easily reversed, so it is especially important to verify the details before sending. Keep the transaction ID if your wallet displays it.
Please wait for the transaction to be confirmed
After sending BTC, the status may initially indicate that the transfer is pending or being processed. You will be able to withdraw cash once the transaction has received the required number of confirmations on the network. The waiting time depends, among other things, on network congestion and the transaction fee, so you should not assume a fixed number of minutes. You can check the status on the Rothbard website; keep the printout and the transfer ID in case you need to contact customer service.
Scan your ID
Using an ATM Bitcoin requires identity verification in accordance with the operator’s policies. When the machine prompts you to do so, place your entire valid ID document flat on the scanner and do not move it until the scan is complete. Do not show the other side until you see the appropriate message on the screen. The verification sequence may vary depending on the machine, so please follow its instructions during the transaction.
Scan the barcode and start the withdrawal
Once the transaction is confirmed, return to the Bitcoin ATM and scan the bottom barcode from the receipt. This is the withdrawal code, not the QR code you used earlier to send BTC. Make sure the screen displays the correct transaction and cash amount. If the status does not yet allow for a withdrawal, keep the receipt and double-check the transaction before trying again.
Collect and count the cash
Once the withdrawal is approved, the Bitcoin ATM will dispense banknotes from the dispenser. Collect them and verify the amount on the spot by comparing it with the information on the screen or the receipt. If the machine does not dispense cash or the amount is incorrect, keep the receipt. To file a report, note the Bitcoin ATM’s location, the date, the amount, and the transaction ID, and contact Rothbard customer service.
What to do with the remaining unpaid balance
The Bitcoin ATM may not dispense the remaining small amount because it does not handle coins. Keep the transaction code and check the operator’s instructions regarding your remaining balance. At the Bitcoin ATMs listed here on the website, you can combine such amounts with your next withdrawal; refund terms depend on the type of cryptocurrency and the balance amount. If you’re unsure which option to choose, contact customer service and provide the code from your receipt.
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.