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Instruction How-To-Sell

Buying and selling at our ATMs usually only takes a few minutes. Here we show you how it works.

Instruction How-To-Sell

Crypto-assets SALES update - since 01/01/2024

With the entry into force of the new Austrian crypto tax regulations, income from crypto assets will be considered investment income and taxed at 27.5%. To simplify the process for our Austrian clients, Kurant will automatically withhold and remit tax on profits from crypto-assets sales in accordance with the regulations effective January 1st 2024.

In a nutshell: To make the sales process easier, please provide your National Insurance Number when registering at the ATM.

You can provide this to our service team during our:

  • Customer Support Hours: Mon–Fri, 09:00–17:00
  • by e-mail to support@kurant.net.

Assistance with the Sales Process

Important: You are responsible for the accuracy of the information you provide.

  1. Touch the screen to start the transaction.

  2. Select the Bitcoin symbol. Other cryptocurrencies cannot currently be sold with us.

  3. Press “SELL”.

  4. Important information will be displayed. Read it carefully and press “CONTINUE” if you agree.

  5. The General Terms and Conditions (GTC) will be displayed. Press “I AGREE” to continue.

  6. You will be asked for your phone number. Press “I AGREE” to continue. You must be registered with us to carry out sales transactions. If you are not yet registered, the machine will prompt you to complete the registration process.

  7. Enter your phone number and press “OK”.

  8. Check your SMS messages and enter the 5-digit one-time code at the machine, then press “OK”. Note: This code changes each time.

  9. Use the +/- euro buttons to select the desired amount and press “SELL”. This is the euro amount that the machine will pay out to you. Note: If you cannot add further euro amounts, you have either reached the maximum amount per transaction or the machine currently does not have sufficient banknotes available.

  10. Indicate whether you are subject to tax in Austria and press “DONE”.

  11. (For taxpayers only) Indicate whether the Bitcoin you wish to sell constitutes existing holdings (“Altbestand” – purchased before 01 March 2021) or new holdings (“Neubestand” – purchased on or after 01 March 2021). Alternatively, select “Unknown” if you do not know the acquisition period and/or acquisition costs. Then press “DONE”.

  12. (For taxpayers with existing or new holdings only; “Unknown” excluded) Indicate the period during which you acquired the Bitcoin you now wish to sell. If the entire amount was purchased at once, enter the same date twice. If you made multiple purchases over a longer period and are now selling them together, enter the date of the first purchase and the date of the last purchase. Select the date of the first purchase and press “DONE”. Select the date of the last purchase and press “DONE”.

  13. (For taxpayers with existing or new holdings only; “Unknown” excluded) Enter the exact Bitcoin amount you acquired during the specified period, including all decimal places. Press “DONE”.

  14. (For taxpayers with existing or new holdings only; “Unknown” excluded) Enter the exact euro amount you paid for the purchased Bitcoin amount, including all decimal places. This amount must include all fees incurred at the time of purchase. Press “DONE”.

  15. The machine will print a sales ticket receipt. Press “DONE”. To complete the sales transaction successfully, follow the instructions on the ticket exactly. Note: If an error message appears, check the notification SMS sent to you. The reason for the error will be described there.

  16. Open your crypto wallet, start a new send transaction, and scan the QR code on the ticket receipt. Your wallet should automatically populate the destination address and Bitcoin amount. Ensure the destination address matches the address on the ticket. Ensure the Bitcoin amount matches exactly, including all decimal places. Do not enter a euro amount. Ensure your wallet sends the exact required Bitcoin amount without deducting fees from it. Ensure your wallet broadcasts the transaction immediately and does not hold it in a pending queue. The transaction must be sent within 20 minutes after the ticket is printed. After verifying all details, send the transaction. Note: The transaction must be a standard Bitcoin transaction on the MainNet, not a token transfer or second-layer transaction. Send the full Bitcoin amount in one single transaction. Do not send multiple transactions to the destination address.

  17. Once you have broadcast the transaction, you will receive a notification SMS. If the transaction was transmitted incorrectly, this will be indicated in the SMS.

  18. Wait until your transaction has been confirmed by the Bitcoin network and recorded on the blockchain. Depending on network traffic and the fee selected in your wallet, this may take some time. You will receive another SMS once our system has detected the confirmation. Note: The transaction must be broadcast within 20 minutes, but there is no time limit for blockchain confirmation. Your sale remains valid even if confirmation takes several hours.

  19. Return to the machine, press the Bitcoin symbol, and select “REDEEM TICKET”. Note: Payout is only possible at the machine where the ticket was printed, as this machine has reserved the cash for you. Note: Sales tickets expire 30 days after printing and cannot be redeemed thereafter.

  20. Scan the QR code of the sales ticket using the machine’s camera.

  21. You will be asked again for your phone number. Press “I AGREE” to continue.

  22. Enter the phone number with which you are registered and press “OK”.

  23. Check your SMS messages and enter the 5-digit one-time code at the machine, then press “OK”. Note: This code changes each time.

  24. The machine will now dispense the euro banknotes one by one.

  25. The machine will print a payout receipt. Press “DONE”.

  26. You will receive a digital sales receipt via SMS.

  27. Keep the digital receipt and the printed receipts. You may need them for your income tax return.

Capital gains tax (KESt) will be remitted to the tax office by us as the withholding agent within the meaning of § 95 (2) no. 3 EStG in accordance with § 96 EStG. The calculation of capital gains tax is based on the information you provide. We assume no liability for the completeness or accuracy of this information. Existing holdings (“Altbestand”) refer to cryptocurrencies acquired before 01 March 2021 and are not subject to capital gains tax. New holdings (“Neubestand”) refer to cryptocurrencies acquired on or after 01 March 2021. If your information regarding acquisition costs of new holdings is correct, your cryptocurrency income is considered fully taxed upon remittance of capital gains tax by us. If your information is incorrect, it may be necessary to declare the sale in your income tax return. This applies to both existing and new holdings. If you select “Unknown”, capital gains tax will be calculated based on lump-sum acquisition costs and no final taxation effect can be achieved. In this case, you must declare the sale in your personal income tax return using the actual acquisition costs. If you are unsure about the accuracy of your acquisition cost information, the tax calculation, or your obligation to file a tax return, we recommend consulting a qualified tax advisor.

Disclaimer: This guide is provided for informational purposes only. It does not constitute investment advice or a financial recommendation and does not guarantee the accuracy, completeness, or timeliness of the information provided. The company and the authors accept no liability for any losses or damages arising directly or indirectly from the use of the information contained in this guide.