Bitcoin is the most significant upheaval in the global financial landscape. With just a PC or a smartphone, you could be sitting at home, making transactions with bitcoin, buying and selling bitcoin. Your finances are on a decentralized blockchain network. So you must be thinking, whatever could be the reason why a person would want to go to a physical location like a Bitcoin ATM to make a transaction?
To understand this, we must first look at what Bitcoin ATMs are exactly.
What Is a Bitcoin ATM?
Bitcoin ATMs, short for Bitcoin Automated Teller Machines, are kiosks that allow an individual to purchase Bitcoin and other cryptocurrencies by simply using cash or their debit cards. Some of the first Bitcoin ATMs were made in coffee shops, bars, and grills in Canada, Europe, and the United States.
Reasons Why You Should Buy Bitcoin from a Bitcoin ATM
1. Bitcoin ATMs Are Easy To Use
Just like traditional ATMs, they have an easy-to-use interface. Not only are they easily accessible, but the transaction speeds are also something to be marveled at. Easy online enrolment ensures that your visit to the ATM will be as quick as possible. Since they are usually placed next to an ATM or restaurant, you can easily withdraw cash from the regular ATM and deposit it in the Bitcoin ATM.
2. Bitcoin ATMs Collect Cash
Despite the prevalence of online transactions, many people still carry cash around. The relative convenience of having a nearby ATM kiosk that can take your cash and convert it to cryptocurrency is a godsend. You can even convert Bitcoin to cash on the spot.
A transaction using it is relatively simple but well-protected. They allow you to, with ease, deposit some cash, turn it into cryptocurrency, and send this cryptocurrency to someone else, who can then withdraw it as cash.
3. It Bypasses Regular Bank Surveillance And Cryptocurrency Exchanges
Bitcoin ATMs allow you to maintain a level of anonymity because you can easily deposit cash without the use of a debit card, thereby allowing you to skirt their surveillance. This is unlike most Cryptocurrency Exchanges, which still require a connection to your debit card. Cryptocurrencies have also proven to be hackable in recent years, like the recent FTX disaster. Bitcoin ATMs are the friends of the typical person because they don’t put your money in the hands of some shady individual to play around with. Your money is for you and you only, directly going from your hands to wherever you want to store it.