Bitcoin is seeing a massive explosion in popularity this year. In fact, at the time of writing, there were over 800,000 Bitcoin sent in the last 24 hours. This amounts to approximately US$40 billion.
With this kind of money being placed in investments, many people want to know how they can buy and sell crypto and also use it for everyday currency transactions in their native country.
The solution is a Bitcoin ATM machine. What is a Bitcoin ATM?
Bitcoin ATM allows you to access your funds and quickly buy and sell crypto at the push of a button.
In this article, we will walk you through everything you need to know about how to use a Bitcoin ATM to simplify your cryptocurrency transactions.
What Is a Bitcoin ATM Machine?
All Bitcoin ATMs allow you to input cash into the machine and ultimately send it to a wallet for hosting Bitcoin of your choosing.
It’s also possible for many of these kiosks to allow you to sell bitcoin and ultimately get cash back in your pocket.
You can also use it to send payments. The only thing you’ll need to make these transactions is a smartphone.
Overall, Bitcoin ATM machines help to drastically simplify buying and selling crypto on the go and making referral payments to third parties or other vendors.
You can use bytefederal.com to locate a machine near you.
What You Will Need
Ultimately to get started using Bitcoin ATM machines, you need to have a digital wallet. Just like we use physical wallets in our pockets to store our money and credit cards, a digital wallet allows you to store digital money.
Digital money must have a place to live, so a Bitcoin wallet gives you a place to store it in real-time.
The reality is that all Bitcoins truly live in an online ledger. This is known as the blockchain. So while your digital wallet actually doesn’t truly contain Bitcoin, it contains access to your balance in the blockchain.
It’s possible to use a digital wallet that is web-based. However, many people choose digital wallets that incorporate desktop software or hardware devices.
Ultimately you have to choose the digital wallet that works best for your preferences.
How to Send Cash to Someone Using a Kiosk
You need to set up an account with the bitcoin ATM operator. You’ll be able to log into your account using the kiosk.
You choose how much money to ship off to the other party. This required info will already be attached to your real-world bank accounts.
You’ll also provide the address of the wall you want to send to. Once you insert cash you can choose to have a deposited into the recipient’s bitcoin wallet so that when they go to a bitcoin ATM they can withdraw it as cash.
Making Payments on the Go
At the end of the day, every Bitcoin ATM machine allows you to improve your access to the digital currency world. Once you have your digital wallet set up and make an account with the bitcoin ATM provider, you’ll be able to easily send money back and forth. This provides exceptional convenience that makes it much easier to make the jump from traditional financial institutions.
If you enjoyed this article about user-friendly bitcoin ATM machines, please check out the other articles on our blog!