Bitcoin ATM is a kiosk machine allowing an individual to purchase BTC.
Bitcoin ATMs are a fundamental way of bypassing conventional methods to purchase bitcoin.
|Follow These Guidelines To Purchase Bitcoin Via Bitcoin ATM: eAskme|
However, dedicated bitcoin ATMs do not allow you to purchase merely bitcoin but also altcoins.
Undeniably, people find cryptocurrency exchange an easy-to-reach method to purchase bitcoin.
Still, once you understand how to purchase bitcoin via these machines, you will barely prefer purchasing bitcoin from a cryptocurrency exchange.
Currently, the number of Bitcoin ATMs is on the rise. Currently, there are more than 28000 Bitcoin ATMs in operation around the globe. In the U.S., about 3000 of these machines are installed at different locations, allowing users to purchase bitcoin via a cryptocurrency exchange.
Acquiring Bitcoin from such kiosks is easy to purchase your first cryptocurrency from one of these kiosks compared to which you need to go through a complex process over cryptocurrency exchange platforms like Coinbase, Local Bitcoins, etc. So, let’s discuss how to purchase bitcoin from bitcoin ATMs.
Step 1: Insert your phone number
Undeniably, verification progression is easier on Bitcoin ATMs than on cryptocurrency exchanges, but verifying the user’s identity is still essential to prevent fraud.
For this very reason, the ATM provides an option for identification verification.
Step 2: The ATMs check your mobile app
The first step required onboarding process is a verification of your mobile app. It is similar to Coinbase and other cryptocurrency exchanges.
Finally, the confirmation code should be in the ATM to purchase or deposit money into your account.
Step 3: Deposit money into your ATM account
Once you have all the essential information, you need to deposit some money, which can be as low as $5.
Once a deposit is complete, it will be added to the total funds available in your account and presented in the next step.
Step 3: Scan your wallet QR code
After inserting your phone number and completing the account verification, you will be prompted to insert your wallet scan.
Scanning QR is as mandatory as submitting funds in the bitcoin ATM machine.
Step 4: Choose the number of Bitcoins
After scanning your bitcoin wallet QR code, you will now choose the amount of Bitcoin you want to purchase, which is equivalent to the value of USD or Pounds in this case.
Step 5: Purchase or trade Bitcoins with this money
You can purchase bitcoin with your account directly on the ATM. To purchase bitcoin from such kiosks, you need to know its rate.
However, you don’t need to purchase bitcoin with all the money available in your Bitcoin ATM account.
You can continue to use or leave the remaining balance for later purchases.
You can even trade any other cryptocurrency or altcoins via your ATM account.
Perks of using bitcoin ATMs:
Convenience is a fundamental perk of using bitcoin ATMs.
Bitcoin ATMs are more hassle-free when compared to purchasing cryptocurrencies from cryptocurrency exchange platforms.
There are more perks of using a bitcoin ATM apart from the convenience; the user needs not to worry about security as these machines provide better security than traditional cryptocurrency exchanges.
Some other perks of these machines include:
The sole purpose of a bitcoin ATM is to purchase/trade cryptocurrencies, which means that no online transactions are required.
Using such kiosks does not need to be installed in your home. You can either purchase or trade from anywhere.
Such kiosks are present around the globe.
Immediate Actions are also an advantage of bitcoin ATMs over the cryptocurrency exchange, users do not need to wait for a long time to receive cash, and they can purchase bitcoin instantly.
Better security is another perk of using a bitcoin ATM over a cryptocurrency exchange since it doesn’t require interaction with other users; there are extremely few possibilities that such machines are hacked compared to a cryptocurrency exchange.
Moreover, even there are no withdrawal or deposit limits in bitcoin ATMs, unlike cryptocurrency exchanges where there is a maximum withdrawal limit.
Purchasing bitcoin from Bitcoin ATMs:
One can use ATMs for trading, selling, and purchasing cryptocurrencies with fiat currency without any prior requirement of installing them in your home or office.
In fact, by using these machines, you can also use them for purchasing altcoins, although there are some restrictions on the number of transactions like selling and buying bitcoins.
Most machines do not require registration or personal information to purchase bitcoin or altcoins.
Regarding the purchase limit, there is a maximum daily limit which varies from $500-$2000 depending on the exchange.
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