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Selling Bitcoin for cash in Bratislava

Author: LB 2020-08-28 201

The use of cruptocurrencies in the capital of Slovakia, Bratislava is legal, therefore I thought it expedient to go and check out the Bitcoin ATMs in this city too. I would like to share the results of my investigations with you. Let's see the details.


In a previous entry, I have already presented you a way to purchase Bitcoins in Bratislava using a Bitcoin ATM without register your phone number. In this guide, I am going to show you the opposite direction, namely a method to use your Bitcoins to withdraw Euros in the Slovakian capital.


The machine is pretty easy to use, what's more difficult is to actually find the Bitcoin ATM in Bratislava.


In most cases, we use Google Maps if we want to locate something, and this is what I did when I was looking for this machine in Bratislava.


The problem was that while I could find a few of these devices shown by Google Maps, many of the machines have already been removed. So this means that Google Maps might show you something, however in reality the device might not even exist anymore.


The situation was very similar with cryptocurrency ATMs in the centre of Bratislava. Oddly enough, the machines in Budapest are well documented even on Google Maps and I could find most of them at the locations shown by the service. However, the situation is somewhat different in Bratislava. When I check out the first to locations, I found nothing there.


So let me show you one place where I could find a Bitcoin ATM in Bratislava in 2020.

According to Google Maps, the ATM can be found in a gloomy courtyard, but even locating the building itself took at least 15-20 minutes for me.


This is the entrance of the courtyar.

I also found it interesting, that according to the images on Google Maps the machine seemed to be pretty old and definitely a one way one.


When I arrived at the courtyard, I found out that this machine is not manufactured by General Bytes, but this one is made by Lamassu, which is a company the specializes in cryptocurrency ATMs and they are registered in Switzerland currently. Therefore, I was very curious and I was really looking forward to this test to compare this machines from different vendors.


The machine speaks both English and Slovakian, however as I don't speak Slovakian I quickly switched to English and pressed the "Sell Bitcoin" button.



Selling Bitcoin in Bratislava.

The control panel is very easy to use, it has an elegant design and you can see that this machine supports not only Bitcoin, but Litecoin and Ethereum as well.


We can set the amount of cash we would like to withdraw from this machine on the next screen. The smallest amount that this machine can handle is the 50 EU. note. You can increase this amount in 100 and 500 EU. units. I did not want to use too much money this time so I choose 50.



Setting the limit on the machine.

When we are done with this, the machine displays a QR code and you can scan this code using your phone to send the necessary amount of Bitcoins to the address provided by the machine.


You have to scan this QR code.

If you do so, the ATM will dispense a 50 EU. bill.


So I followed these steps and I used my e-wallet application to transfer the requested amount of BTC to the machine.


Transferring the Bitcoin to the machine.


Suddenly, something very interesting happened.


In not more than 5 seconds the ATM displayed a thank you screen and it dispensed the 50 EU. bill.


The machine dispensing the 50 EU. bill.

If I remember well, the machines in Budapest, in Vienna and in Prague operate in a different way. When I used those machines from General Bytes, I needed to wait a few minutes until my transaction was verified. I ate lunch or drank something meanwhile and I returned to the machine with my voucher to withdraw my money. When I did not register my phone number nobody even notified me of the confirmed transaction so it was only a gut feeling for me as to when to return to the ATM.


I found this kind of operation very useful and I was very happy to see the money coming out of the machine almost immediately. Was it a sand in the gears?


And finally let me see the numbers. If you have a look at the images you can see that I transferred Bitcoins for 62.55 USD and I exchanged this amount to get Euros in the following way using the market rate:


Exchanging USD/EU.

So you can see that I had to transfer roughly 53 EU. to the machine and it dispensed a 50 EU. bill.


This means that the cost of this transaction was approximately 3 Euros, which is pretty reasonable.


If you would like to see more of these posts, please don't forget to press a like on the Facebook page of the site and you can also support my using the following Bitcoin address: 1D6qYk7mWQFE1K5tUgqimjiCLT66AHdyNX


Thanks for reading!


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