Bitcoin ATM scams are rising fast. Learn how they work, who they target, and what you can do to protect yourself before money ...

A Bitcoin ATM allows users to buy cryptocurrency by directly depositing cash into a machine. While the machines may resemble an ATM from a traditional bank, they don't operate the same way.

A Bitcoin ATM is a kiosk where users can buy Bitcoin and other cryptocurrencies using cash or a debit card. For some people, Bitcoin ATMs offer a quick and easy way to buy or send cryptocurrency.

Another scam is growing. This time its target people who use Bitcoin ATM machines. Individuals that are over 60 years old have reported falling victim the most.

Unlike traditional banking methods, however, cash withdrawals are made through a QR code that the machine provides. You then send your Bitcoin via the QR code before receiving your cash minutes after.

Similar to CoinFlip, the BTM operator Bitcoin Depot told us “When consumers are using a Bitcoin Depot ATM machine, the kiosk displays multiple scam warnings at nearly every stage of the ...