What is a Bitcoin ATM
- August 10, 2017
Learn what is a bitcoin atm and its uses
Bitcoin is already popular in many places around the globe, BTM kiosk is an inclusion in the system to help users buy or sell digital currencies at ease. It is an internet machine which allows every individual to exchange bitcoins and cash anytime. These BTM devices are quite similar to traditional ATM machines and are installed in prime locations around the country. At present, the United States has the most number of ATM around the globe. To be exact, there are 628 booths around the country out of 1237 installed globally. This shows the prevalence of this digital currency in this part of the globe.
What is a bitcoin atm?
It is a machine that helps users to buy or sell digital currencies using traditional moneys or currencies. BTM kiosks are getting installed in many popular cities around the country; the number is expected to increase every year and that too exponentially. The popularity of Bitcoin is nothing new and these modern day machines are making it easy for Bitcoin users to transact anytime. Some of the machines offer bi-directional facilities, where you can buy as well as sell Bitcoins. Most BTM machines are unidirectional, and it allows you to buy in few simple clicks. In few cases, it is important to have an account to carry out transactions on the machine.
Is this similar to normal ATMs?
Many users often confuse BTM stalls with traditional ATM machines. Though the concept is quite same but both are completely different. These kiosks are connected to the internet allowing users to insert cash in exchange for digital currencies. There are many new brands and styles of BTM stalls coming up in the market. Some operators are coming up with apps using which users can locate BTM kiosks nearby. These systems look like conventional ATMs, but these kiosks don’t connect to any bank account. Instead, these devices connect directly to the exchange and help users to buy or sell exchanges.
Use BTM kiosks for buying and selling purposes
Bitcoin kiosks are getting installed in huge numbers around the world, and it is making things easier for modern day users. Though these machines are charging 5 to 10 percent fees per transaction but the facility and ease offered make it worth. Compared to popular online services using these machines can be bit expensive but also take into consideration the ease on offer with these kiosks. Follow some of the online tutorials and learn how to buy or sell digital currencies using these devices. With few transactions, you can gain confidence and start using it like conventional systems available in the market.
It is still earlier days for this Bitcoin devices, with the popularity of this digital currency the number of machines all over the world is expected to increase. Some of the locations are getting huge response and operators are satisfied with the response. Many new locations are coming up in Bitcoin ATM map every day, and this clearly shows how its use is increasing on a regular basis.