If you use bitcoin for your transactions, it is obvious you know how to use a bitcoin ATM as well. However, when you search for a bitcoin ATM, you will find they are not widely available like regular ATMs operated by banks and other financial institutions. One should be informed about their locations so that they can conduct transactions as and when needed without hassles at all.
Find bitcoin ATM locations from the comforts of home
Thanks to online websites, you are able to find bitcoin ATM locations from the comforts of your home. These websites have maps that allow you to check the different places where you can find bitcoin ATMs. Note that the bitcoin ATM is not like a traditional ATM. It is a kiosk that is connected via the Internet to bitcoin exchanges across the region to complete transactions instantly and safely. If you visit any bitcoin ATM map, you will find these ATM kiosks are not widely present everywhere. They are generally found in major places like big cities. The reason being that these ATMs are often operated by companies that specialize in cryptocurrency. In most cases, you will find that the bitcoin ATM is operated by companies that have their own trading platforms and e-wallets. Like traditional banks and financial institutions that own ATMs, the customer needs an account to use them for completing a transaction.
Are there any fees involved in using a bitcoin ATM kiosk?
Users are generally charged a service fee for operating bitcoin ATMs. This fee is a percentage of the transaction that the user conducts over a fixed dollar value that one expects in a conventional ATM. The bitcoin ATM allows users to buy and sell bitcoin. They get receipts for their transactions, and some ATMs ask users for a government identification like a driver’s license to complete the transaction.
Why is bitcoin becoming so popular?
Bitcoin has a number of benefits, and more people are now using it for convenience and safety. When one conducts a bitcoin transaction, the user can keep the anonymity, and unlike conventional transactions involving cash and credit cards, no one can trace the user through the completed transaction. Moreover, bitcoin can be easily stored and carried from one nation to another. It is free from government regulations and inflation.
It is the most popular type of cryptocurrency where its balances are stored in the form of private and public keys. With the help of sites that give you bitcoin ATM locations,you can conduct safe transactions.These keys are very long strings of letters and numbers that are linked to one another via a mathematical encryption algorithm to make them. This public key is like a bank account number, and it is the address the user needs to use for others and the world to see for the sending and receiving of bitcoin. The private key, on the other hand, is like the PIN of a traditional ATM and should always be kept secret. This private key should only be used for the authorization of bitcoin transfers. Experts state that bitcoin keys should never be confused with bitcoin wallets.