Today, the popularity of bitcoin is growing, and it is a currency that is now more widely accepted both online and by merchants in bricks and mortar locations. As a result, there are now countless bitcoin ATMs located across the globe to help make using this cryptocurrency easier. While this technology is new and not fully understood by some, there are several benefits offered by using these Bitcoin Of America ATMs.
A bitcoin ATM is one of the fastest ways for a person to sell and purchase bitcoins. While it may depend on the type of machine being used, there are some machines, such as the Lamassu which support an operation that takes just 15 seconds. The process used consists of the scanning of a QR code of the user’s bitcoin address, feeding the banknotes into the machine and then hitting the “send” button. Once the easy process is complete, the bitcoins are sent right away.
For first users, the process may require some verification steps. However, the majority of these verifications include a mobile phone verification code or a scan of the user’s identification. Even with these steps, the process is typically much faster than other buying and selling methods.
Anonymity and Security
The majority of bitcoin ATMs are typically run by a known operator that have established business entities. These typically have a business address, as well as a support email and phone number. The user will interact with the machine directly, and no one else is usually involved in this process. Compared to meeting a person from local bitcoins, this is much safer, as no one will know what someone is carrying ahead of time, which is often a significant amount of cash.
This also applies to anonymity. Most bitcoin machines have verification processes turned on, but some machines don’t require any verification. This is especially the case for smaller amounts.
Using bitcoin ATMs from Bitcoin Of America doesn’t have to be difficult or confusing. In fact, there are several benefits offered by this. If someone is interested in investing in this cryptocurrency, then learning more about the ATMs is a good idea.