Bitcoin ATMs Guide in Brisbane and Where To Find Them

Using a Bitcoin ATM to buy or sell Bitcoin can be tricky, but it can be even harder to find one in Australia. In this guide, we’ll take a look at the Bitcoin ATMs that are currently available in Brisbane and the features they offer.

We’ll also present a breakdown on the Bitcoin ATM models that are present in the Brisbane area and provide a basic step-by-step explanation of how to buy and sell Bitcoin using a Bitcoin ATM.

Bitcoin ATM Models in Australia

Bitcoin ATMs come in several different types that present users with a variety of different options for trading Bitcoin. Some Bitcoin ATMs only allow for fiat to Bitcoin purchases, while others offer conversion both ways. The Bitcoin ATM manufacturing market is limited, with only several providers creating Bitcoin ATMs. A commonly used Bitcoin ATM in Australia is the Lamassu, a fairly advanced touchscreen model.

The Lamassu Bitcoin ATM

There are a number of SkyHook Bitcoin ATMs distributed across Australia, but these are considered as less desirable options by the cryptocurrency community as the manufacturer shut down operations in 2015 and no longer provides software support. SkyHook Bitcoin ATMs operate on an open-source ATM GUI that is known to be buggy, so it’s best to avoid SkyHook ATMs in favor of Lamassu ATMs when available.

The SkyHook Bitcoin ATM

Genesis Coin Bitcoin ATMs are also present in the Australian market, an older model that offers bidirectional trading. Lastly, General Bytes Bitcoin ATMs are the most widely used Bitcoin ATMs in the Australian market, offering bidirectional trading complete with fingerprint scanning and an extremely easy to use interface.

The General Bytes Bitcoin ATM

How to Buy Bitcoin Using a Bitcoin ATM

Bitcoin ATMs are a relatively quick and easy way to purchase Bitcoin, but generally charge a higher rate than other method due to the convenience they offer. Fees for purchasing or selling Bitcoin are generally around 5% higher than market rates.

All Bitcoin ATMs function as money transmitting tools and are thus obligated to adhere to FinCEN rulings. This means Bitcoin ATMs must follow Know Your Customer and Anti-Money Laundering procedures by capturing identity information from users — it’s not possible to purchase Bitcoin or sell Bitcoin from a Bitcoin ATM anonymously.

Purchasing Bitcoin with a Bitcoin ATM follows a fairly standard process across all machines:

• Verification: In order to purchase Bitcoin users must provide photo ID, whichis scanned by the machine. Some machines in Australia (notably General Bytes ATMs) require a fingerprint scan for verification. Other machines require SMS verification as part of Know Your Customer verification.
• Provide Wallet Address: To receive your Bitcoin, you’ll need a Bitcoin wallet address. This is typically provided by presenting the ATM with a QR code wallet address to scan. For more information on setting up a Bitcoin wallet, see our storage guide.
• Insert Cash: Bitcoin isn’t free!
• Confirm operation: Most machines will present users with an additional confirmation step before sending Bitcoin to a wallet address.

How to Sell Bitcoin Using a Bitcoin ATM

There are only two types of Bitcoin ATMs that support sell operations in Australia — Genesis Coin ATMs and General Bytes ATMs.

Selling Bitcoin to a Bitcoin ATM follows the following process:

• Verification: ID verification is required for both buying and selling Bitcoin, and is performed in the same manner as described above
• Send Bitcoin to ATM: A Bitcoin ATM will provide sellers with a wallet address to send the amount of BTC they’d like to sell to
• Wait for Confirmation: The Bitcoin blockchain is currently suffering from scaling issues that can cause transactions to take several hours to complete. This issue is likely to be solved with the implementation of the Lightning Network scaling layer solution, but in the meantime most Bitcoin ATMs provide sellers with a redeem code as a workaround. This redeem code can be used to access cash from selling Bitcoin once the transaction is complete

Selling Bitcoin to a Bitcoin ATM is not the most cost-effective method of converting Bitcoin to fiat. For more information on how to exchange your crypto for cash, check out our Where to Buy Bitcoin in Australia for a list of exchanges and platforms that allow users to sell Bitcoin online or in person.

Finding a Bitcoin ATM in Brisbane

Brisbane currently only has one active Bitcoin ATM. There are two more Bitcoin ATMs in relatively close, however, located in Nimbin and Mooloolaba. We’re including the Nimbin ATM in this guide as it’s close in a geographic sense. We’ll proceed to break down the three Bitcoin ATMs available in in and around Brisbane and provide information on their specifications and locations.

On Air Mobiles Bitcoin ATM Brisbane

• Model: Lamassu
• Direction: Fiat to Bitcoin only
• Opening Hours: 9 AM to 5:30 PM weekdays with late night availability on Thursdays until 9 PM. Weekend hours 10:00 AM to 4:00 PM
• Address: Shop 94 Grand Plaza Shopping Centre, 65-85 Browns Plains Road,Browns Plains QLD 4118

This Bitcoin ATM is operated by On Air Mobiles, and provides support to users via a dedicated phone support hotline. Interestingly, the operator states that this machine does not possess ID capture or scanning requirements for BTC purchases, which is at odds with KYC and AML laws.

The operator of this machine also purchases Ethereum and Zcash through private arrangement via the phone support line.

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Quickbit Bitcoin Exchange Bitcoin ATM Sunshine Coast

• Model: Lamassu
• Direction: Fiat to Bitcoin only
• Opening Hours: Tuesday to Saturday 8:00 AM to 4:00 PM
• Address: 2/39 Brisbane Road, Mooloolaba, Sunshine Coast Queensland 4557

This ATM is operated by a dedicated Bitcoin Exchange — Quickbit Bitcoin Exchange, and requires government photo ID in accordance with KYC and AML regulations. Transactions are limited to 1 BTC daily. Quickbit Bitcoin Exchange also offers Trezor and OpenDime hardware wallets and will pre-load them for customers.

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Pheonix Rising Cafe Bitcoin ATM Nimbin

• Model: SkyHook
• Direction: Fiat to Bitcoin only
• Opening Hours: 10:00 AM to 6:00 PM 7 days
• Address: Phoenix Rising Cafe, Lot 9 No2 Blue Knob Road, Nimbin NSW 2480

The Nimbin SkyHook Bitcoin ATM is operated by the aptly-named Bringabong team, and integrates with the BitPay API to deliver up-to-date market rates every two minutes. It should be noted that SkyHook ATMs are often operated with bespoke software as the SkyHook ATM manufacturer is now defunct. Exchange rates are provided live via the Bringabong.

Bringabong limits transactions performed through this ATM to $500 AUD daily per customer. Fees average at 3% on top of market rates.