Read our FAQ on buying & selling Bitcoin & Altcoins below:
1. What is bitcoin? What are altcoins?
Bitcoin is a type of digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds, operating independently of a central bank. If you have bitcoins you can use them as cash instead of handing bills and physical coins to the merchant.
An altcoin is any digital cryptocurrency similar to Bitcoin. The term is said to stand for "alternative to Bitcoin" and is used describe any cryptocurrency that is not a Bitcoin.
2. How do I get bitcoin or altcoins from a BitRD ATM?
The BitRD machine uses any accepted cryptocurrency's wallet (e.g. your Bitcoin wallet) that you already use. If you need a mobile Bitcoin Wallet, click here for a list of options. Once you have a wallet, simply scan your Bitcoin address QR Code, insert bills, and press send. Its that simple!
3. What fees are charged?
Charges at BitRD bitcoin ATMs are calculated as a rate per Bitcoin/Altcoin that combines a market rate with a markup and, if applicable, an additional fixed transaction fee.
Transaction fees and/or minimum amounts may apply depending on the cryptocurrency you are buying or selling. You can obtain the variable and fixed rates on our pricing page.
Note that the first bill you insert into the machine must be equal to or greater than the minimum purchase amount.
4. Is there a minimum purchase?
Minimum amounts may apply depending on the cryptocurrency you are buying or selling. You can obtain the minimum amounts on our pricing page. Note that the first bill you insert into the machine must be equal to or greater than the minimum purchase amount.
5. What bills are accepted?
The following banknote denominations are accepted at BitRD bitcoin ATMs (Note: Currently, we have certain ATM's that accept Pesos and others US Dollar, but not both).
- RD$ 100*
- RD$ 200*
- RD$ 500*
- RD$ 1,000
- RD$ 2,000
- RD$ 20
- RD$ 50
*Note that the first bill you insert into the machine must be equal to or greater than RD$ 200 or $5 USD.
6. What bills are dispensed?
The following banknote denominations are dispensed at BitRD bitcoin ATMs (Note: Currently, we have certain ATM's that dispense Pesos and others US Dollar, but not both).
- RD$ 1,000
- RD$ 2,000
7. Which fee should I use when sending my Bitcoin?
The fastest and cheapest miner's fee is currently estimated to be 4 satoshis/byte or 4.0E-5 bitcoins/kilobyte.
8. Can I save some time at the machine and start selling my Bitcoin or Altcoin online?
Yes you can! Using our online sell application, you can put in your order to sell Bitcoin ahead so you don't have to wait at the ATM.
The process is pretty simple: Choose an ATM, send us the Bitcoin and, when your transaction confirms, receive a redemption code to pick up your cash.