What do I need to purchase Bitcoin or cryptocurrency at a Black Swan BTM?
Before you head over to a Black Swan BTM, make sure you have the following items prepared:
Cash - Purchasing crypto at a BTM can only be done with cash at this time.
Digital Wallet - Create your digital wallet online in advance through any cryptocurrency wallet app.
Government-issued ID - Your identification may be used to verify your identity depending on the amount of your Bitcoin purchase. For purchases over $799, you will need an ID.
Cell Phone - You will need your cell phone to confirm the account you create on the ATM, as well as your wallet app QR code.
What are network fees?
Network fees are minimal fees that are put in place to incentivize Bitcoin miners, who help to put new cryptocurrencies into circulation.
Why is Bitcoin confirmation necessary?
Bitcoin confirmation allows the blockchain to rely solely on computer networks, or nodes, to verify transactions, ensuring there is no entity involvement. This helps maintain the security and autonomy of cryptocurrency, so that it cannot be controlled by governments, banking institutions, or hackers.
Why haven't I received my cryptocurrency yet?
In rare cases - usually for very small transactions - it may take up to an hour or longer for your cryptocurrency to be deposited after completing your order. This is because small transactions provide low incentives for miners to process the transaction. These delays are out of our control and are a part of the process of sending currency through the blockchain.
What is the Bitcoin blockchain?
Bitcoin confirmation allows the blockchain to rely solely on computer networks - or nodes - to verify transactions, ensuring there is no entity involvement. This helps maintain the security and autonomy of cryptocurrency, so that it cannot be controlled by governments, banking institutions, or hackers.
What is a wallet?
Think of a Crypto Wallet as simply a digital version of a bank account. It allows you to purchase, store, and spend your Bitcoin, and it even has its own address similar to a bank account number. You can create a digital wallet through any cryptocurrency wallet app. Be sure to write down your wallet information, such as username, password, and private key, in a safe place.
Just like your bank account number, you should never share your wallet address or key with anyone or send money to fund a Bitcoin wallet that’s not your own. This puts you at risk for losing your Bitcoin and potentially even money.
How do I buy cryptocurrency with cash?
Please visit a Black Swan Bitcoin BTM near you and follow the instructions on the screen. Our process is simple and easy to understand!
Can I use a debit or credit card to purchase crypto at a Black Swan BTM?
At a BTM, currency can only be purchased with cash at this time, but this may change in the future.
Please visit our Buy Online
page to purchase crypto online with Debit, Credit, or Apple Pay.
Can I send money to other people using a Black Swan BTM?
You can only purchase the cryptocurrency, which is sent to your personal cryptocurrency wallet. Then, you can send cryptocurrency to anyone you choose after you have purchased it.
Security & Compliance
Do I need an ID to purchase cryptocurrency?
Black Swan Bitcoin complies with the Bank Secrecy Act and the USA Patriot Act, which means we are bound by law to require ID for any transaction exceeding $800 USD.
Additionally, to help protect consumers, we are registered as a money services
\business with FinCen.
How much cryptocurrency can I purchase in a day?
When buying at a Black Swan BTM, you can purchase up to $800 USD without an ID, up to $2,999 with an ID, and up to $18,000 with an ID and SSN.
When purchasing online, your limit is $500 USD per week, but can be increased to up to $25,000 a week with a verified ID.
What are some security concerns that I should be aware of?
While cryptocurrency is impossible to hack when following the above steps, you should be aware that people may try to steal your Bitcoin by getting you to give them your secure information.
Check out our article on Potential Cryptocurrency Scams
to learn more about potential scams.