In the digital world of Bitcoin, crypto ATMs present a unique bridge between the virtual and the physical.
While they offer a certain layer of convenience to the crypto-buying process, it’s much more than that. It can be psychologically beneficial for users to interact with a physical machine. Why? That’s what we’ll cover in this article.
Read on to learn more about the psychology of crypto ATMs and why it might matter for users like you.
There’s a bit of psychology behind the physical nature of a crypto ATM.
First is trust through tangibility.
You see, by just being a physical location, crypto ATMs add a layer of trust to a digital-first industry. This visible infrastructure builds confidence with users who might otherwise feel intimidated by a purely virtual transaction.
For the non-tech savvy, crypto ATMs provide easy access to Bitcoin and other cryptocurrencies without excessive complexity or drawn-out buying processes.
There’s also the fact that crypto ATMs operate using cash.
Pew Research estimated that in 2022, around 14% of Americans exclusively used cash*.
For these users, the option to buy crypto using a debit or credit card doesn’t exist. Why should they not have access to the future of finance? Additionally, this cash-buying experience adds familiarity to buying crypto. It’s a recognizable type of transaction.
You hand over cash; you get what you paid for — simple as that.
Cash adds a tactile element to crypto buying. It provides immediate feedback, which digital transactions often lack. Additionally, with cash, users tend to use that immediate feedback to budget more effectively.
This idea is tied to the psychological concept known as the Pain of Paying* (learn more at thedecisionlab.com).
It’s an experience most of us can relate to: you fork over your hard-earned money for a good or service and feel a slight pain in the process. While not the best feeling, this response assists with mental accounting. That’s the Pain of Paying in action.
With digital-only transactions, this Pain of Paying is somewhat dulled.
Crypto ATMs, despite dealing with digital currencies, introduce elements of cash-like spending, which can positively influence users’ financial behaviors:
In short, these cash-to-coin machines provide a valuable psychological bridge between traditional and digital finance.
It’s not just the value of cash, though; it’s also the value of privacy.
Crypto ATMs also offer a private experience.
Unlike traditional financial transactions, crypto ATMs allow users to buy cryptocurrency without interacting with bank tellers or customer service representatives. This can provide a sense of control and discretion, which can be a huge benefit for those who value financial privacy.
Additionally, when users don’t deal with a human, there is often a sense of decreased potential risk.
With a crypto ATM, you purchase Bitcoin or other cryptocurrencies directly. You put your cash in the machine, and coins go straight to your digital wallet. All the control is in your hands. This can reinforce a sense of ownership in a way that other purchasing alternatives like cryptocurrency exchanges simply can’t.
Of course, not every crypto ATM user is the same.
Here at Bitcoin Depot, we serve a wide and diverse range of customers. Some people love the privacy of a crypto ATM. Others like the convenience they provide and want to make the buying process even easier.
For those users, we have BDCheckout™.
BDCheckout™ adds an additional layer of convenience to the crypto buying experience.
Instead of dealing with a machine, users get to interact with a cashier much like they would when purchasing their weekly groceries.
Much like crypto ATMs, BDCheckout™ builds trust through familiarity.
While you still need to use the Bitcoin Depot mobile app to start the transaction, the rest of it happens just like any other in-store purchase. You scan the unique barcode generated by the app, and the cashier takes your cash. In a few moments, you have your coins in your wallet.
For some users, this experience can reduce the uncertainty often associated with online crypto transactions.
The in-person exchange mimics everyday purchases, making digital coins feel more legitimate and accessible. Crypto exists in a digital world, but BDCheckout™ brings a physical, real-world touchpoint to the buying process.
Currently, BDCheckout™ is live in 29 states.
While it won’t replace the crypto ATM experience for every user, it adds a layer of convenience and familiarity that will appeal to those who want to make crypto buying as simple as purchasing a gallon of milk.
While Bitcoin Depot’s crypto ATMs and BDCheckout™ service offer you a great way to purchase crypto with cash, don’t think you’re on your own.
In fact, one of the things we strive to offer is unparalleled customer service.
Crypto can feel complex and intimidating, especially for new users. A reliable customer service experience provides psychological safety, reduces anxiety, and reinforces trust in the transaction process.
Even with services like BDCheckout™, where you’re dealing with a cashier, knowing help is available can increase confidence in your purchases.
Our customer service team is here to help.
Whether you want to send an email or talk directly with a representative, we’re on standby to field your questions.
The psychology of crypto ATMs goes much deeper than you might think! As you’ve learned, there are many aspects of these convenient cash-to-coin machines that get to the core of what makes a transaction feel safe and secure.
No matter how you want to make a purchase, Bitcoin Depot is here to help.
Of course, you know about BDCheckout™ and our crypto ATMs. We offer BDCheckout™ in 29 states and operate the largest network of crypto ATMs in the U.S., Canada, and Puerto Rico.
Looking for a way to buy online? We’ve got you covered there, too, with our online buying service.
If not, visit one of our over 8,400 crypto ATMs across the U.S., Canada, and Puerto Rico (as of February 2025).
Find a location today to get started.
*The information provided above is for informational purposes only. The inclusion of any particular 3rd party site does not imply an endorsement, sponsorship, or partnership between Bitcoin Depot and the 3rd parties listed above. While Bitcoin Depot endeavors to ensure the accuracy and relevance of the information provided, we do not guarantee the reliability of any 3rd party’s information.