By Swain Thorne
Bitcoin has taken the world by storm. If you’re looking to buy bitcoin for the first time, or you’re looking for an easier way to buy or sell cryptocurrency, you may be interested in learning more about bitcoin machines. Bitcoin ATMs, also called bitcoin machines or BTMs, offer a fast and easy way to buy and sell cryptocurrency, including bitcoin. Here’s more information about these machines and how they can be used.
What Is a Bitcoin ATM?
Traditionally, when you visit an ATM, you go to that machine to either deposit or withdraw money from your account. A C ryptobase ATM is slightly different: The machine allows you to buy or sell your cryptocurrency for cash. Typically, you have to use a broker website to purchase bitcoin or other cryptocurrency, but the exchange isn’t done in real time. As such, the price can go up or down. An ATM allows you to buy low or sell high without waiting for a different platform to process your transaction.
How Many Cryptobase ATMs Are There?
In the year 2020, cryptocurrency hit a fever pitch and the number of crypto ATMs grew by over 177%. Five years ago, there were less than 1,000 bitcoin machines in the U.S.A. and Canada. Today, there are over 36,000. It’s expected this number is only going to increase.
How Do You Use a Cryptobase ATM?
To use a Cryptobase ATM, you need to have a smartphone. You’ll need to create a buying or selling account on your phone. Once you’re at the ATM, enter your phone number on the machine, followed by a PIN you set up. From there, you can either insert money into the machine to buy cryptocurrency or you can sell off the cryptocurrency you have in your account and the ATM will immediately disburse money to you for the sale of that bitcoin.
How Do You Find Nearby Bitcoin ATMs?
If you’re searching for bitcoin ATMs, it’s important to understand there isn’t a bitcoin ATM in every state at this time. However, these ATMs are becoming more and more popular and the hope is that soon you’llbe able to find one no matter where you are. For now, you can visit this link: cryptobaseatm.com/cryptobase-locations/ to find locations close to you. Check back frequently as new machines are being added all the time.
When cryptocurrency first started, you had to connect your bank account to a buying platform, then wait while an employee processed, calculated exchange rates, and completed the transactions. Unfortunately, by that time prices may have changed and the price you bought or sold for could be different than it was when you placed your order. A Cryptobase ATM allows you to connect to a mobile crypto wallet, which reduces security concerns. Connecting to one of these machines also helps ensure exchange rates are calculated properly and transactions can be completed in real time. Visit local bitcoin machine locations to complete your cryptocurrency transactions.
