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Bitcoin ATMs Guide in Melbourne and Where To Find Them
Melbourne offers a high number of Bitcoin ATMs compared to other cities, and boasts five active machines. In this guide, we’ll provide a detailed list of all Bitcoin ATMs in Melbourne and break down the limits and verification requirements for each, where available.
We’ll also provide a short explanation on how to buy and sell cryptocurrency using a Bitcoin ATM and highlight the differences between the different Bitcoin ATM models present in the Australian market.
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 Melbourne
The Melbourne Bitcoin ATM market notably includes machines that offer both buy and sell features, which is rare in Australia. All of the Bitcoin ATMS in Melbourne are located within a few kilometers of the city center.
Gorilla Direct Bitcoin ATM Richmond
- Model: Lamassu
- Direction: Bidirectional Buy and Sell
- Opening Hours: Monday to Friday 10:00 AM to 5:00 PM
- Address: Level 1, 2/4 Bridge Road, Richmond VIC 3121
Located in a Richmond-based marketing agency, this Bitcoin ATM is the only machine in Melbourne to offer both buy and sell functionality. Buying or selling Bitcoin with this ATM incurs a 4% fee on top of market rates. All transactions are subject to a $10,000 AUD daily limit.
Macaulay Cleanskins Wine Bitcoin ATM Melbourne
- Model: General Bytes
- Direction: Fiat to Bitcoin only
- Opening Hours: 12:00 PM to 10:30 PM
- Address: 478 Macaulay Road, Kensington VIC 3031
This Bitcoin ATM is operated by BitRocket, an Australian Bitcoin ATM startup. Transactions are soft-limited by operator request at $10,000 daily, although multiple transactions are available. Purchase orders a subject to a 5% fee on top of market rates as determined by BTCMarkets.
The Mainchain Bitcoin ATM Melbourne
- Model: General Bytes
- Direction: Fiat to Bitcoin only
- Opening Hours: 24 hours, 7 days
- Address: 160 Swanston Street Melbourne CBD, 3000
The Mainchain Bitcoin ATM is the most popular machine in Melbourne, as it’s located in the heart of the CBD on Swanston Street. This machine also supports Litecoin transactions in addition to Bitcoin. The operator of the Mainchain ATM also manages a Twitter account on which updates are posted.
D Konnect Bitcoin ATM Melbourne
- Model: Lamassu
- Direction: Fiat to Bitcoin only
- Opening Hours: Monday 9:00 AM to 5:30 PM, Tuesday to Friday 9:00 AM to 7:30 PM, Saturday 9:00 AM to 5:30 PM, Sunday 10:00 AM to 4:00 PM
- Address: Shop 28 / 67 Ashley Street, Braybrook VIC 3019
D Konnect offers a range of different supporting services alongside this Lamassu Bitcoin ATM. The ATM itself has no ID capture requirements nor a camera. D Konnect also purchase Bitcoin, Ethereum, and Zcash over the counter.
Freo’s Finest Bitcoin ATM Richmond
- Model: General Bytes
- Direction: Fiat to Bitcoin only
- Opening Hours: Monday to Friday 10:00 AM to 6:00 PM, Weekends 11:00 AM to 5:00 PM
- Address: 224 Bridge Road, Richmond, VIC, 3121
This Bitcoin ATM is offers basic fiat to Bitcoin services with staff support.
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