According to a report, there is approx 7,000+ bitcoin ATM machine all over the world. The need for these ATMs is growing day by day.
However, you need to know the real meaning of the bitcoin ATM machine. It much goes the same direction as regular ATMs—you place a debit or credit card in the machine and later receive cash. However, the exception is that it allows you to withdraw BTC.
THREE TYPES OF BITCOIN ATM MACHINE
Three main types of Bitcoin ATM are:
1. ATMs that turns your BTC into fiat currencies
2. Ones where you can get BTC from
3. ATMs that allow you to do both.
Learn the working of Bitcoin ATMs
Are you finding a bitcoin machine near me? For selling or buying Bitcoin using a Bitcoin ATM, you need to know:
1. Confirm your name.
If a user first gets up to a machine, she or he must prove their identification. This can be accomplished in a variety of different ways, depending on the device. Users need to input their mobile phone figures into the machine. You will then receive a confirmation code by text broadcast to be listed on the machine. Once approved, users can continue with the transaction.
2. Decide to Sell or Buy.
Once you are logged into the BTM, they must determine whether they need to sell or buy Bitcoin. To buy Bitcoin, you need to feed cash into the machine, create a QR code from their cryptocurrency wallet on their portable device, and scanned receive their bought Bitcoin.
POINTS TO CONSIDER WHEN CHOOSING BITCOIN ATMS NEAR ME
1. Convince
It should not allow the user to wait days to even weeks to verify transactions. The bitcoin ATM should be almost instant.
2. Support
An ATM company must provide live customer support to clients. It makes users trust them. Having a strong and supportive team can help you in working with clients.
3. Privacy
With every online exchange, a user has privacy concerns. The information filled in by users should be safe and secure.
CONCLUSION
You might have got some idea about working of Bitcoin ATM machine and points to consider when choosing ATM. You can choose a bitcoin ATM near me for better service and trustable services in your area.