What is a Bitcoin ATM?
What is a Bitcoin ATM?
Traditionally, ATMs are a bank-related service that allows you to withdraw money conveniently without visiting a branch. Like many financial services, cryptocurrency is making its move forward with digital wallets and exchanges, to influencers in the media, and of course, Bitcoin ATMs. It has become one of the many exciting and anticipated development to come out of the Bitcoin and crypto market.
It’s similar to the standard ATMs you’re used to. It’s a portal where you can engage in a financial transaction with your cryptocurrency. Usually in the form of withdrawals or deposits of Bitcoin using cash. In the early onset of the Bitcoin craze, you weren’t able to sell your Bitcoin. Still, as technology, especially blockchain, moves forward, you can now sell Bitcoin through these ATM portals safely and securely.
Most Bitcoin ATMs have a monitor, QR scanner, and bill dispenser, and acceptor. Behind the hardware, the software allows for the buying and selling of Bitcoin that makes it faster, easier, and ensures your security. While similar to cash ATMs, they aren’t connected to a bank or your bank account. Instead, they’re connected to a cryptocurrency exchange over the internet.
How Do They Work?
Buying or selling Bitcoin at a Bitcoin ATM is relatively easy and takes on a couple of steps. 1.) Find your Bitcoin ATM by using our Bitcoin Map.
2.) Register on the ATM in only a few minutes.
3.) Buy your Bitcoin and receive it instantly!
Bitcoin ATMs verify every transaction faster than an online exchange. Not only that, there are 100+ locations within the Metro Detroit area. You’ll find some at convenience stores, gas stations, amongst other places, and are easier to use than your standard ATM. As a Bitcoin investor in this area, you have numerous options on where to do your transactions in case of market fluctuations. This gives you an edge. You may not always have time to use your mobile phone data to do it or have time to get online using a computer to take advantage of the market.
How You Can Find One
Finding Bitcoin ATMs is easy. Go to www.cash2bitcoin.com for a list of their ATMs. You can also use the website Coinatmradar.com, where you can search Cash2Bitcoin for the nearest ATM near you. You’ll find that these ATMs offer the convenience and security you expect for all your Bitcoin transactions without worrying about the standard bank fees.