Currently, there are about 7,000 cryptocurrency ATMs across the globe. These ATMs are in 75 different territories, and they host different digital currencies such as Bitcoin, Bitcoin Cash, Litecoin, Dash, and Ether. Cryptocurrency ATMs provide people with each and quick ways to purchase cash or even credit cards at a convenient place. Other standard ATMs allow you to withdraw fiat currencies, while Cryptocurrency ATMs give you an opportunity of exchanging the ordinary currencies, including USD and Euro for cryptocurrencies such as Bitcoin.
How do I locate a cryptocurrency ATM?
It is quite easy to locate Bitcoin ATM that is close to you. The Coin ATM Radar service makes this possible and allows you to scour through several cryptocurrency ATMs that are close to your town. The Coin ATM Radar service also gives you necessary information such as the type of cryptocurrencies available, the limits, and the transaction fee. Other than the usual Coin ATM Radar, several other services allow you to locate Bitcoin ATMs such as Buy Bitcoin Worldwide and Bitcoin ATM Map.
How to use Cryptocurrency ATMs
Using a Bitcoin ATM is quite straightforward. All you need to do is select the amount of the cryptocurrencies you wish to purchase on the ATMs screen. The machine will then prompt you to provide the wallet address that is available when you scan the QR code on the ATM. You will then need to pay the necessary amount through depositing cash, or you can choose to insert your credit or debit card. The blockchain needs to confirm the purchase before you receive the cryptocurrency on your wallet address. People buying a large amount of cryptocurrency will need to provide extra verification documents such as an ID for security purposes. Some cryptocurrency ATMs allow you to purchase cryptocurrencies, and they are known as one-way ATMs. Two way ATMs give you the option of selling cryptocurrencies.
There is a lot of competition among several cryptocurrency providers. They include:
- Genesis Coin
- General Bytes
This is the largest Bitcoin ATM across the United States. The cryptocurrency ATM allows you to buy and sell about nine different cryptocurrencies, and you can buy Bitcoin using a debit or credit card, or through the use of a Visa or Mastercard. Coin Flip allows you to perform fast and secure transactions that take about ten to thirty minutes to complete. The Bitcoin ATMs at Coin Flip is sleek, fast, and highly intuitive; the bill validators at the company allow easy and quick access to cash. Therefore, you will spend very little time at the coin flip Bitcoin ATMs. Some supported cryptocurrencies include BTC, LTC, ETH, DASH, KMD, and TRX.
Coin Flip also offers exceptional transactional charges. Buying cryptocurrency is charged at 6.99% and 3.99% when you sell. This transaction makes their fees quite low compared to other e cryptocurrency exchange ATMs. You have the assurance of privacy because they do not share your information with third parties. Their customer care agents are available 24/7, and they are reachable through email, text, or phone.