How does Rockit bitcoin work?

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4 minute read

Published on: 21-05-2020

RockItCoin, also known as Rockit bitcoin ATM, is a network of ATMs where it is possible to buy and sell bitcoins. 

These ATMs are widespread throughout most of the United States of America, but the company also offers the possibility to buy bitcoin online, for example by paying by VISA or MasterCard, or via OTC and an app called RockitcoinX that acts as a wallet and allows buying bitcoin

Buying and selling bitcoins at a RockItCoin ATM is very easy. 

The company has also published two short video tutorials that show operationally how to do it. The first, dedicated to buying, is a video of just over two and a half minutes, while the second, dedicated to selling, lasts less than two minutes. 

First of all, it is necessary to have an active bitcoin wallet. It is possible to use the RockitcoinX app to create one, or any other software or hardware that allows creating a bitcoin wallet. 

RockitCoinX supports BTC, LTC, ETH and BCH.

How to use Rockit to buy bitcoin

To proceed with the purchase of bitcoin at a RockItCoin ATM it is necessary to click on “Buy coins” and select the range corresponding to the amount of dollars to be spent: from $20 to $750, or from $751 to $2,999, or from $3,000 to $9,000. 

At this point, it will be necessary to enter a phone number, to verify the identity and then a PIN. 

Once the identity has been verified it will be possible to choose the cryptocurrency to buy, i.e. Bitcoin, Litecoin, Ethereum or Bitcoin Cash. 

After choosing the currency it is necessary to indicate to which wallet the tokens should be sent. The easiest and most immediate method is to scan the QR code of the wallet, but it is also possible to create a new one on the spot or manually type the public address. 

After confirming that the destination address is correct, simply enter the tokens and click “Finish” when done.

At this point, it will be sufficient to select how to receive the confirmation of receipt and the procedure is complete. 

To proceed with cash withdrawal, i.e. a sale of bitcoin in exchange for cash, the procedure is even shorter. 

First click on “Withdraw cash”, select the range of the amount of dollars to obtain, enter the phone number and pin, select the cryptocurrency and enter the amount of money to withdraw. 

At this point, the screen will display a unique QR code that needs to be scanned with the wallet. 

Once scanned, simply send the tokens from the wallet and wait for the ATM confirmation message to withdraw the cash. 

The company RockItCoin LLC, from Delaware, has the BSA authorization of Fincen number 31000158642185, so it operates according to US regulations, requiring verification of users’ identity.

The service is therefore not only legal but also regulated

ATMs are not present in all US states, but there is a map on the website displaying all locations. 

 

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