Using a Bitcoin ATM is a great way to buy and sell cryptocurrencies quickly and securely. Unlike online exchanges, Bitcoin ATMs provide users with the convenience of buying and selling crypto tokens with cash or debit cards. In this guide, we'll show you how to use a Bitcoin ATM to buy and sell Bitcoin, as well as other cryptocurrencies. To buy Bitcoin, users must first deposit cash into the machine.
Depending on the machine, some Bitcoin ATMs will deliver cash to the user immediately, while others may take a little time to process the transaction. However, these verification times are exponentially faster than online exchanges. In some cases, Bitcoin ATM providers require users to have an existing account to make transactions on the machine. To sell Bitcoin, a user sends Bitcoin from his digital wallet to the QR code provided by the Bitcoin ATM.
Bitcoin ATMs provide a quick and easy way to buy bitcoins with physical money. Otherwise, users would have to deposit the cash into a traditional account and then transfer it to a cryptocurrency exchange to make the transaction. Some Bitcoin ATMs offer two-way functionality that allows both buying Bitcoin and selling Bitcoin for cash. Unlike online cryptocurrency exchanges, Bitcoin ATMs allow convenient buying and selling of Bitcoin. Typically, Bitcoin ATMs require users to have an existing account in order to use the machine.
Bitcoin ATM technology is still relatively new, hence the limited number of other cryptocurrencies supported by these machines. With your mobile phone, scan the QR of your Bitcoin wallet with your favorite application, this wallet is where the purchased bitcoins will be sent. Today, it has grown exponentially in numbers, demonstrating that the general public is also adopting Bitcoin very quickly. These machines are configured to allow someone to buy (and in some cases sell) Bitcoin with very few, if any, identity verifications. The countries in the Union with the highest number of Bitcoin ATMs are Spain (17), Austria (13), Poland (11), Romania (8), Czechia (6), Greece (6) and Italy (60). The transactions and addresses of the bitcoins themselves can be tracked, however, they cannot be linked to a person or entity. While you may be familiar with the single-digit withdrawal percentage fees charged by traditional ATMs, the fees are much higher for ATMs.
In the backend, these components are joined together using software to make buying and selling Bitcoin fast, easy and secure. Coin Cloud makes buying and selling Bitcoin fast and easy for our users. Find out how Coin Cloud makes it simple for you to get started with cryptocurrency today.