When you see the guides on the internet about buying Bitcoin, the first thing you will see is the method of buying Bitcoins from the cryptocurrency exchange like Bitcoins-Era.io. After that, you can download and purchase it through the bitcoin wallet. However, the ways or means of buying Bitcoin are not limited to the Bitcoin exchange, and there is one fantastic way of buying bitcoin from the bitcoin ATM. It is one of the most convenient ways of purchasing bitcoin in which you don’t have to use a computer. You can easily invest in bitcoins by inserting money into these machines and getting bitcoins in return for your digital. The whole process is straightforward, so the popularity of bitcoin ATMs is increasing worldwide. But the sad thing is that there are very few people aware of these ATMs and how to use them.
What is a bitcoin atm?
Bitcoin ATMs are the machines that allow people to purchase bitcoin, and sometimes they offer other digital currencies too. You can easily purchase bitcoin by using cash or even your debit cards. Some people think that the bitcoin ATM has any link with the bank ATM, but it is not true because the bitcoin ATMs are the tools that will allow one to purchase bitcoins, and it also allows you to sell bitcoins in exchange for cash. The convenient thing about a bitcoin ATM is that you will not need to have an account on it, and you don’t need to provide your personal information for purchasing bitcoin by scanning a QR code.
The procedure of purchasing crypto from a bitcoin ATM!
When you visit a bitcoin ATM, you will see that it has a QR code on it for which you have to download a bitcoin wallet that the machine is supporting. The list of wallets compatible with the Bitcoin ATM is extensive so you can choose any bitcoin wallet suitable for you. After downloading that bitcoin wallet, you have to follow the instructions for setting it up. Now your wallet will create a unique address to which your bitcoin ATM will send the bitcoins you purchase when the transaction is complete. The bitcoin ATMs are well known for providing a fantastic experience to anyone using them.
You will get all the instructions on the screen of the bitcoin wallet, and you have to follow them step by step. The Bitcoin ATMs are different from one another, which can also depend on your location and some other features. Some Bitcoin ATMs require the users to complete the KYC process to complete the purchase. Once you complete all these things, you have to mention your bitcoin wallet address into the machine for the process of transactions, and you have to fill in the number of bitcoins that you wish to purchase. This procedure can be done more effortlessly when you scan the QR code instead of typing your wallet address manually. The best thing is that the transaction will take only 10 minutes or less to appear in your wallet.
Advantages and disadvantages of Bitcoin ATM
The people who don’t know much about the technology, using a bitcoin ATM is an excellent way by which they can get into bitcoin. Because most bitcoin ATMs don’t require the users to give their personal information. The ease of using a bitcoin ATM makes it up perfect option for all individuals, and the best thing is that they can do all the activities very fastly. You can even sell your bitcoins by visiting a bitcoin ATM and getting cash in return from the machine.
However, there are always some disadvantages to anything. The bitcoin ATMs have the disadvantage that it charges a very high amount of fees for the transaction. Every time you make a transaction from a bitcoin ATM, you have to pay a higher amount of money which can be a costly deal. The transfer of money is much higher than the cryptocurrency exchange charges from its users. Moreover, if anything goes wrong, there is no customer support for the users.
The final sayings
Overall, the working system of the bitcoin ATM is very convenient, and it is very secure. So, if you are looking to buy bitcoin in a very secure and confidential manner and don’t mind paying a higher amount of fees for it, then using a bitcoin ATM can be the right option for you.
