Bitcoin Depot Resources

Whether you’re a crypto newbie or a blockchain pioneer, we’ve got something for everyone.

What is Proof of Work (PoW) in Blockchain & Bitcoin?

Proof of Work, typically shortened to PoW, is a consensus mechanism used by blockchains to prevent double-spend or 51% attacks on the network. For example, Bitcoin uses PoW to create new blocks for its blockchain. Of course, there’s much more than that involved in the PoW protocol, including the mining process people love to discuss. […]

Consensus and the Blockchain

If you follow Bitcoin, the chances are good that you’ve heard about and read about consensus and the blockchain at some point. While consensus isn’t something you have to have a deep knowledge of to buy or sell Bitcoin, it does help to understand how it relates to the blockchain. You might also hear consensus […]

Understanding Double-Spending

Double spending is a potential flaw in digital cash systems in which the same single digital token can be spent more than once. Double spending is an inherent problem with digital currency and is one of the key issues that Bitcoin was designed to solve. How Does Double-Spending Work? Let’s quickly review the blockchain and […]

What is Anti-Money Laundering?

Cryptocurrencies have grown in popularity in recent years, with more people purchasing them as an alternative to traditional finance. However, with the increasing use of cryptocurrencies, criminals have found ways to use crypto for illegal purposes. One way crypto is fighting back is through anti-money laundering practices. But, what is anti-money laundering? As a result, […]

What Crypto Scams Seniors Should Watch For

Cryptocurrency is hot right now, and with it comes a rise in scams. Seniors are particularly vulnerable to these scams, as they may be more trusting of strangers and less familiar with how cryptocurrency works. That’s not to say there aren’t some pretty savvy elders out there, but in general, those over the age of […]

Pig Butchering Crypto Scam: What You Need to Know

If you receive a DM (direct message) or text message from someone you don’t know, the best thing you can do is ignore it or delete it. That’s because it could be part of a ‘pig butchering’ scam. This scam is alluding to the process of letting a pig get nice and fat before butchering […]

What Does Know Your Customer (KYC) Mean in Crypto?

In recent years, cryptocurrencies have become increasingly popular, and as a result, the demand for crypto-related services has increased. However, as with any financial service, the use of cryptocurrencies carries with it the risk of illicit activities such as money laundering, terrorism financing, human trafficking, and other forms of financial crimes. This is where KYC […]

The Economics of Bitcoin Mining

Bitcoin mining is an essential part of the Bitcoin network and is used to secure, validate, and verify transactions. Mining involves solving complex mathematical equations in order to create new blocks of data that are added to the blockchain ledger. Miners who successfully solve these equations get rewarded with a set amount of Bitcoin. However, […]

What to Know about Bitcoin Depot Limits

You’ve done your research, and you’re ready to buy Bitcoin from a Bitcoin Depot BTM. However, before you head out, you might want to know how much Bitcoin you can buy. All Bitcoin Depot machines have limits, and we want to tell you all about them so you know exactly what to expect. What to […]