Users deposit cash or use their debit/credit cards to purchase Bitcoin, which is then sent to their digital wallet. One-way ATMs only allow users to buy Bitcoin. In other words, BTMs are almost indistinguishable from ATMs, so keep an eye on the branding. Some machines can be equipped with a card reader: in these, you will be able to buy or sell BTC and other cryptocurrencies with a bank card. Since most commonly it uses cash, it comes equipped with a storage and cash acceptor. Like a normal ATM, a Bitcoin teller machine comes with an interface, usually a touch screen or a screen with a keypad for inputs. They function similarly to traditional ATMs, but instead of dispensing cash, they facilitate transactions involving Bitcoin. Additional downsides include lower availability and security risks.īitcoin ATMs, also known as BTMs, are physical machines that allow users to buy or sell Bitcoin using cash or debit/credit cards. ![]() At the same time, Bitcoin ATMs are known to be not the most economical way to buy crypto due to their high transaction fees.This method of buying and selling crypto can also be more privacy-preserving for small amounts because of lower identification requirements Bitcoin ATM can be convenient if, for one reason or another, you would rather use cash than a bank card or account.Bitcoin automatic teller machine (abbreviated as Bitcoin ATM or BTM) is a machine that facilitates the purchase and selling of Bitcoin and some other cryptocurrencies.In this article, the ChangeHero team will introduce you to crypto ATMs and walk you through the process of using one. How do you connect to a virtual world of crypto if cold hard cash is all that you are willing or able to spend? Through a curious terminal that combines a familiar concept - an automatic teller machine - with an exciting world of digital assets.
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