“I’m grateful to be a part of the bitcoin revolution and hoping that my participation in this space will lead to more conversations and help increase knowledge and awareness. In no way do I profess to be any kind of bitcoin currency guru. It just seems very interesting and I’m intrigued with the possibilities.” -Mike Tyson
About Mike Tyson Bitcoin
Bitcoin Direct, LLC and Mike Tyson created these ATMs in partnership to bring bitcoin to a mainstream audience. Bitcoin is changing the way the world thinks about and uses money.
But there is one problem.
It is hard to get for most people. The goal of this partnership is to provide every person anywhere with access to alternative financial services. Our ATMs are instantly recognized, easy to use, safe, and accessible to all.
What is bitcoin?
Bitcoin is a form of digital currency. This means that if you have bitcoins you can use them as cash instead of handing bills and physical coins to the merchant. Currently, Bitcoins are primarily used for on-line purchases and transfers as they are more liquid than physical currency. There are thousands of on-line retailers that accept bitcoins with the number growing daily. “The Internet of Money.”
What can I do with bitcoin?
Bitcoin can be used for a huge variety of uses, practically anything cash or credit can be used for. It can be used for everything from gift cards to electronics to food.
How do I get bitcoin from the Mike Tyson ATM?
The Mike Tyson machine uses any Bitcoin wallet that people already love and use including the new Mike Tyson Wallet. Click here if you need an iPhone Wallet. Click here if you need an Android wallet. Simply enter a Bitcoin address or scan a QR Code inside of the send function, specify the amount you want to send and the Automatic Teller Machine (ATM) automates all the transactions. Its that simple!
What fees are charged?
Unlike a traditional ATM, there is no fixed fee charged by bitcoin ATMs. Instead, charges are calculated rate per Bitcoin, generally combining a market rate with a specified markup, so the displayed rate may be higher than what your wallet software or Bitcoin price calculator of choice says. The markup amount, as well as the base exchange used (which will itself vary by market).
How does the Mike Tyson ATM know where to send my bitcoin?
As part of the buying process, the machine will ask for you to scan the QR code for your wallet. This gives the us your bitcoin address so that it knows where to send.
How much bitcoin will I get?
The amount of bitcoin a given amount of currency buys changes by the minute, as the market price of Bitcoin is very volatile. The machine will automatically calculate out the amount based on the current rate when it sends the transaction, but if you’d like to estimate it beforehand it’s very easy to calculate: simply divide the amount of currency that will be inserted into the ATM by the price shown on the ATM. For example: if you have $200, and the BTM rate is $650.00/BTC, the ATM will send 200/650 = 0.307692BTC.
How hard is it to send the bitcoins I get to someone else?
It is very easy. You can instantly send bitcoin from your computer, tablet, smartphone or any other device to anyone around the world at any time.