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Ledger Nano X and Bitcoin ATM

By 31 March 2020No Comments

Since the Ledger Nano X can be directly connected to your phone, you can also use its functionalities outside the house. This opens up a range of possibilities. In this article  we will look into the usage of a Ledger Nano X in combination with a Bitcoin ATM.

Bitcoin ATM – Ledger Nano X

Buying Bitcoin with a Bitcoin ATM is quite straight forward. It basically comes down to entering cash in the machine, and then Bitcoin is transferred via the Blockchain to your wallet. To do this you need to enter your bitcoin-address on the ATM. You could do this manually,but of course this is prone to errors and takes a long time. Therefore most devices are equipped with a QR-scanner. What is great about the Ledger Nano S is that it can show the QR-code of your bitcoin-wallet directly on the screen on your mobile phone. The only thing you have to do is use the ATM-scanner to scan that QR-code, and you are good to go. This prevents any mistakes and makes sure the Bitcoin is transferred safe and secure to your hardware wallet.

You scan this QR code with the ATM scanner; and the amount is transferred to your bitcoin address.

Send bitcoin with Ledger Nano S to Bitcoin ATM

Besides buying Bitcoin; you can also send Bitcoin to the ATM. This basically works the exact opposite if buying Bitcoin as we explained before. This time you will send bitcoin from your hardware wallet to the address of the ATM machine; and you have to scan the QR-code that belongs to the ATM device. This is super easy as you can scan a QR code directly from the Ledger Live Ap. The Bitcoin-ATM will show you the QR-code on the screen and you can simply scan it and transfer the amount. Usually it takes about 10-30 minutes for the bitcoin to arrive. You will get a paper receipt with a unique code you can use to withdraw the money after that times has expired.

This way you can always and anywhere store, send, and receive Bitcoins; and also transfer them from and to cash.

Disclaimer: Despite trying our very best to provide you with accurate information, we cannot be held responsible for mistakes or errors on our website.

Author Sander

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