Did you know that the global cryptocurrency market size was valued at $1.49 billion in 2020?
Today, Bitcoin and other cryptocurrencies are becoming a more mainstream way of paying for goods and services. Not only that, they represent an excellent investment opportunity for portfolio diversification.
If you want to buy and sell Bitcoin for cash, a Bitcoin ATM is a convenient and accessible solution. But what is a Bitcoin ATM, and how exactly do they work? Our Bitcoin 101 guide tells you everything you need to know.
Read on for our rundown on Bitcoin ATMs.
What Is a Bitcoin ATM?
You may think you need a laptop and a money transfer to turn Bitcoin into cash. However, a more convenient solution exists.
A Bitcoin ATM is a kiosk that is connected to the internet and allows people to exchange cash for Bitcoin and vice versa. They are also known as BTMs or Bitcoin Teller Machines.
Bitcoin ATMs are growing more and more popular as cryptocurrency becomes increasingly mainstream. Today, you can find a Bitcoin ATM in all major cities. Check out the best Bitcoin ATM map to find a Bitcoin ATM near you.
How to Use a Bitcoin ATM
Bitcoin ATMs are a great way to buy and sell Bitcoin. They allow you to use cash to buy Bitcoin, which is then transferred to your digital wallet. A Bitcoin ATM will also allow you to sell Bitcoin in exchange for cash.
A Bitcoin ATM will typically have a QR code that you scan with your phone or enter the address manually into the machine.
This will prompt the machine to ask how much Bitcoin you want, usually denominated in BTC, and your wallet address where the money should be sent in a 100% secure and insured transaction.
The Benefits of a Bitcoin ATM
Bitcoin ATMs are the easiest way to buy and sell Bitcoin. They are available in many countries around the world.
They enable people to buy Bitcoin without registering on an exchange or online trading platform. Since their invention, the number of Bitcoin ATMs has grown exponentially, making them more accessible to the public.
Bitcoin ATMs provide an easy way for people to become familiar with cryptocurrency and purchase it without any hassle. You can rest assured that funds will not be stolen from your account because the private keys never leave your device.
Bitcoin 101: Crypto Made Easy With ATMs
So, that’s the Bitcoin 101 on ATMs.
Bitcoin ATMs are a great way to buy Bitcoin if you’re not tech-savvy.
They are easy to use and conveniently located in public places like convenience stores, malls, and airports. Now that you understand what a Bitcoin ATM is, you can start using them to invest in Bitcoin with no hassle.
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