Everything You Need to Know About Bitcoin ATMs
The Ultimate Guide
In January 2021, Elon Musk created a ripple in the finance world by updating a single word on his twitter bio — #bitcoin. Bitcoin might have become the hottest topic of the year, but Musk is a little late to the game. Bitcoin, the first cryptocurrency, has been around since 2010. And bitcoin ATMs have been around for many years. Musk’s tweet only indicates that this efficient digital currency is here to stay.
In any case, it is a great time to invest some of your hard-earned savings in some foolproof cryptocurrency, what with Wall Street losing its intimidating respectability and edge even as you’re reading this — cash and stocks are not as secure or advantageous anymore, it is being proved. Many of us have always been intrigued by tech experts bragging about their Bitcoin, but simply couldn’t understand it all. If you’ve been too intimidated by all the technical jargon that couches this highly efficient and easy-to-use cryptocurrency, or if you’ve even so much as fantasized about acquiring some Bitcoin, this is a great place to start. Read on to find out how to invest in some high-value digital currency, how to use your new Bitcoin, and all about Bitcoin ATMs.
Why You Need To Know About Bitcoin ATMs
The first such machine in the United States was installed in 2014, and it is safe to say that by now, these machines are way more reliable than your typical banking options. Think about the ATM, specifically think about why it is that you prefer going to the ATM over going to the bank to do the exact same thing–withdrawing and depositing money. Thanks to the ATM, this core activity has been exponentially simplified, optimized, and, by removing the intermediaries — i.e., bank staff — the customer has gained more control over the process of handling their own money, all at once. Now, a Bitcoin ATM goes further than that–it is a direct line to your money, making even banks redundant.
Cash ATMs are, still, owned and operated by the banks where you have chosen to keep your money, and so you are still dependent on banking services that you pay for and, in the process, subject your money to considerable market risks (say, in the event that the bank crashes). Banks basically perform the function of brokers that charge you to store and keep track of your money. Banks are like highly centralized monopolies of financial information. Moreover, they function by using the money deposited inside them in non-transparent ways, by making out loans to third parties. Imagine if you could just remove the banks out of the equation altogether. Just you, and your money, safely stored, easily accessible.
Here is how that works. Bitcoin runs on Blockchain technology. So, instead of a single bank keeping the records for your money, the information is spread-out over data blocks that are notoriously secure. In other words, no single intermediary (like a bank) owns or controls the ledger that contains your personal financial records. Each Bitcoin by default carries the imprint of all the transactions that it has been through. Think of it like a decentralized, evenly distributed, immutable ledger. To put it very simply, when it comes to cryptocurrency, there is nobody standing between you and your money.
How to buy Bitcoin in 3 simple steps using BelcoBTM
If you’re still reading at this point, hopefully, you’re already seeing some advantages of using Bitcoin. Perhaps the ridiculous ease of acquiring and using Bitcoin will convince you some more. And even if you already know your Bitcoin but just haven’t gotten round to buying some, you can easily do it at a registered Bitcoin ATM. Three easy steps are all it takes.
A Bitcoin ATM is an advanced version of the standard ATM kiosk, with secure and state of the art tech enabled in it.
1) Verify your number
Long gone are the days where you have to wait hours or days for your account to be verified to buy Bitcoin. Just find a BelcoBTM location near you and you’re all set to buy Bitcoin after verifying your phone number. For large volumes, identity proof may be required.
2) Scan your wallet address
To make things easier, BelcoBTM supports QR codes. Just scan your desired wallet address where you want to receive your coins.
3) Insert cash to finish your transaction
Complete your purchase by inserting cash into the ATM machine. The coins will be sent to your wallet shortly. You’ve now got yourself some prime digital currency.
It really is that easy.
Where To Find a Bitcoin ATM
Google maps may not always show what you’re looking for. Coinatmradar has all the information you’ll need to know about Bitcoin ATMs. Just type in the name of your city or locality and it will point you to the nearest BitcoinATM, along with information like location, availability, supported coins etc. BelcoBTM is a growing network of Bitcoin ATMs that offers the best rates in the market. Check out the list of BelcoBTM locations available here.
If you are someone who is increasingly concerned for your privacy in an age of ubiquitous surveillance, cryptocurrency might just be the solution. The extreme ease of use and high privacy makes Bitcoin particularly accessible to almost anyone. In market terms, that means we’re looking at potentially exponential surges in the value of Bitcoin. Experts have already predicted the mass adoption of cryptocurrency. And BitcoinATMs are the easiest and simplest way to buy and sell cryptocurrency. What are you waiting for? Rush to your local Bitcoin ATM now!