Bitcoin’s launch in 2019 ushered in a financial revolution. A decentralized digital currency, Bitcoin is immune from government policies and regulations causing inflation and offers the potential for high returns. Those and other benefits immediately attracted investors, but there were some problems.
People complained that buying Bitcoin on exchanges was time-consuming and confusing, and they didn’t understand why they had to use their bank accounts to purchase a decentralized digital currency. Those problems are a thing of the past now, thanks to Bitcoin ATM machines. Find out how these kiosks are changing the Bitcoin game for the better.
Fit Investing Into Your Schedule With Bitcoin ATM Machines
If using an exchange or peer-to-peer trading platform, you must set aside time to invest in Bitcoin, but that’s not the case with ATMs. Bitcoin ATMs provide the opportunity to invest while out running errands. They’re in convenience stores, gas stations, and places with traditional ATMs. That means you can go in and invest after pumping gas or when buying a few odds and ends. If you’ve been putting off investing because you don’t have time, Bitcoin ATMs are truly a game changer.
Easy Access Without the Hassle
If you trade on an exchange, you have to choose the type of trading account you want, add banking information, and verify your identity before looking for Bitcoin to purchase. Many new investors get stuck choosing a type of trading account and close the app or back out of the website before making their first purchase.
Bitcoin ATM machines don’t have that steep learning curve associated with cryptocurrency exchanges. If you’ve used a traditional ATM machine, you’ll feel at ease when purchasing cryptocurrency at one of these kiosks. You just need to get a digital wallet to hold your Bitcoin, follow the prompts on the ATM machine, and insert cash to complete the purchase.
Get the Full Investment By Using Bitcoin ATM Machines
Many investors are surprised when the amount of Bitcoin that lands in their digital wallets is less than what they purchased. Bitcoin market prices fluctuate constantly, and exchanges regularly update prices based on those changes. Updates happen every minute on some exchanges, and new prices can take effect when previewing but before finalizing the order. You won’t see the price change if you’re already previewing your order but you’ll get a little shocked when the cryptocurrency lands in your wallet.
Sometimes, the fluctuations go in the investors’ favor, and they receive slightly more Bitcoin than expected. Far too often, though, these changes are unfavorable to the buyer. When that happens, they get close to but not the full amount of the Bitcoin they ordered.
Since Bitcoin ATM machines don’t operate on the exchange, you never have to worry about getting shortchanged. The order is locked in, and you’ll receive the full amount when using an ATM. This makes Bitcoin ATMs a good choice for novice and seasoned investors who want to quickly grow their digital wallets.
Accessible to Everyone
Many people have been locked out of Bitcoin exchanges for one of two reasons: banking requirements and identity verification. Approximately 5.9 million U.S. households are unbanked, and close to 29 million adults don’t have a driver’s license. However, bank accounts and government-issued IDs aren’t required when using ATMs.
You can invest with cash and never have to provide any banking information. As a result, many people who are unbanked or want their investments to remain untethered from central banks use ATMs.
Bitcoin ATMs also allow people to purchase small amounts of Bitcoin without scanning their IDs. This benefits people without identification as well as privacy-conscious investors.
You can also increase the amount of the investment at an ATM without using a bank account, but you’ll need to provide your ID and other identifying information. Unlike exchanges, Bitcoin ATMs allow you to choose how much information you want to provide.
You don’t have to wait long to see if your transaction clears with a Bitcoin ATM. Since you’re paying with cash, the cryptocurrency appears in your wallet within minutes. It typically takes a minimum of 30 minutes for an exchange to deposit Bitcoin and can take hours or even days. Waiting for the Bitcoin to be credited is stressful since you never know if something went wrong. With an ATM machine, you’ll know the transaction was successful by the time you make it back to your car.
Find Bitcoin ATM Machines Near You
CoinMover operates Bitcoin ATMs across the country. You can invest up to $2,995 in Bitcoin without providing an ID, or you can increase your limit to $50,000 or more by going through additional verification. Learn more about purchase tiers and limits, and find a CoinMover ATM near you.