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5 Benefits of Bitcoin ATMs

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If you’ve recently entered a gas station, wine & spirits retailer, or CBD & tobacco shop, there’s a good chance you’ve spotted a Bitcoin ATM. These machines are starting to pop up everywhere, so keep your eyes peeled if you’re out and about.


However, you’ll notice that these are Bitcoin ATMs. This begs the question, why would you want to buy Bitcoin from a machine when you can do the same thing in your pajamas? That’s a great question and one that deserves to be answered, so keep reading, because that’s exactly what we’re going to do.

5 Benefits of Bitcoin ATMs

Here are five good reasons you’ll want to use a Bitcoin ATM to add some BTC to your wallet.

Privacy

We live in a world that is quickly and efficiently eating away at our private bubbles. Each keyboard stroke, every smartphone tap, and any mouse click you make is tracked, marked, and collected in an effort to learn as much about you as possible. We’re not on the conspiracy wagon, but we believe a reasonable amount of privacy should be afforded to everyone.


When you use a Bitcoin ATM - what Bitcoin Depot refers to as BTMs - you’re doing so with a level of privacy you won’t find on an online crypto exchange. Most reputable platforms require a form of identification, which means your behaviors are being tracked. Plus, you can’t fund an online exchange with cash. You have to use a credit or debit card or your bank account.


Bitcoin ATMs aren’t completely private - you’ll likely have to provide a phone number to receive a text confirmation - but they offer much more privacy than their online counterparts.

Security

Privacy and security go hand-in-hand, and Bitcoin ATMs offer both. When you use a Bitcoin ATM, you’re participating in one of the most secure ways to add BTC to your wallet. Unlike centralized crypto platforms, Bitcoin ATMs are 100% custodial. That means you have complete and total control over your Bitcoin.


PLUS,you’re getting increased security by not relying on a third-party intermediary to purchase Bitcoin for you. You put in the cash and you get Bitcoin. It’s that simple. You don’t have to wait on the order to be filled, you don’t have to worry about slippage, and you definitely don’t have to think about losing your funds because an exchange was hacked. Bitcoin ATM transactions are fast, private, and secure.

Easy-to-Use


This is what makes Bitcoin ATMs an excellent option for beginners. Online exchanges can be intimidating, confusing, and challenging. Using a Bitcoin ATM is straightforward, simple, and doesn’t require a lot of experience. If you can follow a step-by-step process, you can buy Bitcoin through a Bitcoin ATM. It really is that simple.


By comparison, using an online exchange may require following many complex steps, confirming an email address, and likely requires setting up a bank account or credit card. Using a Bitcoin ATM is similar to using a standard banking ATM. You’re already familiar with the process, making it that much more appealing.

Expediency

Sometimes, you want your Bitcoin in a hurry. It’s your business why you need it; Bitcoin ATMs want to help you get it. If you start from scratch, getting Bitcoin through an exchange could take a while. You first have to create an account, validate your email address, verify your identity, and add funds andthenyou can buy Bitcoin and add it to your wallet when your order is filled.


WIth a Bitcoin ATM, you’ll have BTC in your wallet in a matter of minutes. Follow the steps, insert your cash, and receive your funds. Most Bitcoin ATM transactions only take a matter of minutes - likely less time than it will take you to finish this article. Plus, you don’t have to worry about losing out on your funds because an exchange is operating at overcapacity. Bitcoin AMTs are always ready to go.

Accessibility

Bitcoin ATMs are spreading faster than you can say Jack Robinson. There are almost 39,000 Bitcoin ATMs in existence today and Bitcoin Depot alone operatesnearly 7,000of them. While that number sounds big, it pales when compared to the fact that there are almost 500,000 ATMs that belong to banks and other financial institutions - and that’s just the United States.


That means for every traditional finance ATM out there, there’s one Bitcoin ATM. Expect that gap to close, though,as experts predict a 56% CAGR(Compound Annual Growth Rate) for the Bitcoin ATM industry. We won’t bore you with the details, but that’s significant growth expected over the next five years, making Bitcoin ATMs evenmoreaccessible.

Experience it for Yourself

Why are you still reading this? Get up, put your pants on, and check out all the fantastic benefits of using a Bitcoin ATM. Bitcoin Depot operates machines across the United States and Canada, so use theBitcoin ATM locatorto find one near you.


If you’re still unsure about using one of these newfangled machines, check out our guide on How to Use a Bitcoin ATM. We’ll walk you step-by-step through the entire process.









Nov. 3, 2022