3 Great Reasons To Use Bitcoin ATMs
In the constantly evolving world of cryptocurrency, there are always new developments that can — at least at first — be confusing for the majority of consumers. In a number of instances, this initial confusion can mean that otherwise great technology ultimately isn't adopted by the masses, for no other reason than it requires a steep learning curve. Fortunately, one of the most interesting developments in the realm of the digital currency Bitcoin is the Bitcoin ATM, a clever, new twist on an easy-to-understand concept. While these machines are being installed in convenient locations across the country, many Bitcoin users may still be wondering about the benefits. Keep reading below to learn more about just some of the many upsides of Bitcoin ATMs.
Some of the major motivating factors behind the invention of Bitcoin were privacy and anonymity. Yet an increasing number of Bitcoin marketplaces have installed KYC (Know Your Customer) policies, which force consumers to give up a significant amount of personal information. Luckily, Bitcoin ATMs don't sacrifice the privacy that decentralized currencies such as Bitcoin can offer. When you buy or sell Bitcoin at an ATM, you can rest easy knowing that the transaction is totally anonymous.
If time isn't of the essence for the majority of your Bitcoin transactions, then consider yourself one of the lucky few. For the vast majority of Bitcoin users, the appeal of digital currency lies primarily in its ability to be moved from wallet to wallet within seconds, all without the use of a card or cash. Yet if you use a mainstream online marketplace to buy and sell Bitcoin, you may find something hidden in the lengthy terms of agreement: a clause that states your funds acquired in a transaction are held for a certain period of time (sometimes several days) before they can be released. Thankfully, Bitcoin ATMs offer a convenient workaround that doesn't require you to wait.
For those just starting their cryptocurrency journey, Bitcoin ATMs offer a unique advantage in that they are far more user-friendly than most online marketplaces. Rather than making a costly mistake because you are still trying to figure things out, you can simply use a Bitcoin ATM to facilitate all of your transactions. As long as you have a digital wallet and address set up already, using a Bitcoin ATM is not much different than using an ATM that offers fiat currencies.