Buying bitcoin has never been easier than it is today. Whether you want to buy online or in person, there are so many options available... you can even purchase bitcoin from an ATM! Suppose you're looking for a simple way to purchase your first bitcoins. In that case, this article will explain how to use these crypto kiosks and why they are beneficial over other methods of buying cryptocurrency.
While it is possible and quite easy to create an online exchange account, which you can do through a variety of websites, there are downsides. For instance, some exchanges have been known to close accounts that have made a large number of transactions or have withdrawn a significant amount without any reason given. Other sites may not allow users from certain countries to sign up.
Some online exchanges have made the process simple, but many of these services are still confusing and complicated to use. They require many steps and feature terminology that may be unknown to first-time buyers. This is why it may be a better idea to figure out how to buy from an ATM first, as the process is very similar to a standard ATM transaction you're already used to with your regular bank.
Additionally, most online exchanges require a lot of verification during the sign-up process (known as KYC), regardless of how much cryptocurrency you wish to purchase. This initial process can take up to a few days, and in some situations, it can take weeks of back & forth with support teams if they have any issues with the personal information you provide. Often there are additional levels of verification required for you to withdraw your funds from their exchange.
With most Bitcoin ATMs, all that is needed to get going is a phone number that can receive a text message confirmation. And since they all accept cash, you don't even need to involve your bank in the transaction!
Not only does depositing funds onto an online exchange take a few days, but it will also take a few days for you to get your funds out of the exchange when you wish to withdraw them into your bank account. This can be a huge hassle, especially if you are looking to buy or sell your bitcoin in a hurry.
Before crypto ATMs, the process of getting into (or out of) bitcoin with your cash could have taken weeks. Now you can turn your cash into bitcoin within minutes by using these BTMs (Bitcoin Teller Machines)! If you visit a 2-way ATM, you'll even be able to exchange your holdings for cash from the ATM in a similar timeframe.
The other strong point for crypto ATMs is that you can purchase cryptocurrency just as easily as you would buy a Starbucks coffee. And with almost 50,000 Bitcoin ATMs in the United States alone in 2021, that means there are 3 crypto kiosks for every Starbucks location in the US! (When's the last time you drove home without passing 2-3 Starbucks?)
These Bitcoin ATMs are also accessible to the unbanked, allowing individuals who have difficulty accessing traditional banking systems to get into cryptocurrency easily. That is a major step forward in financial inclusion.
If you’re looking to buy bitcoin from a convenient location, but don’t have the time or patience for online exchanges, an ATM can be a great option for you. These kiosks offer simplified verification steps that allow any customer with fiat currency on hand to purchase up BTC without the many additional documents required by most other providers. Bitcoin Depot specializes in providing quick and easy access to Bitcoin at more than 5,000 ATM locations across the United States & Canada.
Visit the Bitcoin ATM Locations page to find a kiosk near you today!