Buying Bitcoin can be a confusing and intimidating process, especially for those just starting out in the world of cryptocurrencies. Fortunately, there is a simple and convenient solution to this problem: using an ATM! With Bitcoin ATMs being available worldwide, it’s never been easier to get your hands on this revolutionary digital currency.
What Is A Bitcoin ATM?
A Bitcoin ATM is a machine that enables you to buy and sell Bitcoin. These ATMs use paper money, or sometimes a debit card, to buy or sell Bitcoin. There are several factors to consider when deciding whether to use a crypto ATM, including fees, ease of use, and security. On the whole, ATMs are convenient, quick, and often cheap ways to purchase Bitcoin.
Similar to exchanging cash for an online gift card, ATMs allow you to withdraw cash from your Bitcoin exchange account by converting it into cash deposited into your bank account. The number of these types of ATMs has grown alongside the rising popularity and value of cryptocurrencies like Bitcoin.
Advantages Of Buying Bitcoin With An ATM
First of all, buying Bitcoin with an ATM is easy, convenient, and quick. The process can take as little as a couple of minutes, depending on how long it takes you to choose how much crypto to buy, insert your money, and verify your identity.
While online exchanges allow users to buy Bitcoin at any time, they can take a while to process transactions. Therefore, buying Bitcoin online during peak trading hours can result in long wait times. With ATMs, you don’t have to worry about these issues; you can simply walk up to the machine, deposit your money, and walk away with your Bitcoin almost instantly.
Aside from that, while the anonymity of buying Bitcoin online varies, ATMs allow for completely anonymous transactions. This means that you won’t have to provide any personal information when purchasing Bitcoin from an ATM.
While online exchanges have been hacked in the past, ATMs are more secure. This is because ATMs use an encrypted connection, which is a type of connection that protects sensitive information from being stolen or hacked. Lastly, unlike many online exchanges, you don’t need an account to buy Bitcoin from an ATM.
How To Use A Bitcoin ATM
First, find the Bitcoin ATM near you. Next, insert your cash into the crypto ATM. After that, choose how much you want to purchase. Make sure that the amount you choose is equivalent to the amount in your wallet.
Finally, once you’ve verified your identity, you’ll receive your Bitcoin. If you would like to sell your Bitcoin, follow the same steps above, but choose “sell Bitcoin” instead. You can also sell your Bitcoin online via an exchange, but ATMs are a quick and easy way to sell coins in person.