This article is for cryptocurrency enthusiasts who want to learn more about Bitcoin and Bitcoin ATMs. We'll discuss Bitcoin, Bitcoin ATMs, how they function, and where you can find them in this post.
How to use a Bitcoin ATM
How To Use Bitcoin ATM? Get All Your Answers Here
Ever since Bitcoin has gone mainstream, questions like ‘how to use Bitcoin ATM?’, ‘Is it safe?’
and ‘where can I find a Bitcoin ATM near me?’ have been making rounds in the crypto market.
And why won’t they, since the cryptocurrency is deemed to be the future of transactions.
If you are a crypto enthusiast, looking to gather knowledge on Bitcoin and Bitcoin ATMs, then
this post is just for you. In this blog, we will talk about Bitcoin, Bitcoin ATMs, how do they
work and where can you find them. So, let us start.
Talking about recent developments in the crypto market, the rise of Bitcoin ATMs has been
making all the news. If you are wondering how does a Bitcoin ATM work, or what is it to be
precise, then here’s the answer: a Bitcoin ATM is just like your regular ATM where you visit to
withdraw cash. The only difference is that in these ATMs you don’t get physical coins, since
Bitcoin is a virtual currency.
You might be amazed to know but within a small time frame, these machines have gained a lot
of popularity. As per the latest statistics, by March 2020 there were more than 7000 Bitcoin
ATMs around the world. And, the number continues to rise with every passing day!
Types of Bitcoin ATMs
Three different types of Bitcoin ATMs exist in the market. Here’s a look at those types:
Buy Bitcoin function
Sell Bitcoin function
ATMs that allow you to do both of these transactions
Now that you have developed a good understanding of these machines, let us get to know about
how they work.
How does Bitcoin ATM work?
An important that must be highlighted here is that for every transaction you carry out on these
ATMs, you have to incur a transaction fee.
Here’s the step by step process that you need to follow to use a Bitcoin ATM:
Create a Bitcoin wallet
One of the first things you need before making a transaction is a Bitcoin wallet.
A Bitcoin wallet is a place where your bitcoins will be s