Clever people nowadays opt for earning on cryptocurrencies. Bitcoin is the leading crypto that more and more people keep choosing every day. If you have been in the cryptocurrency market for a while, you have surely come across the term Bitcoin ATM. And if you are confused and want to know what an ATM has to do with a cryptocurrency that is not physical, stay here, and we will investigate this case together.
What is a Bitcoin ATM?
A Bitcoin ATM looks like a regular ATM and can also be found on the street. You can even withdraw cash from some ATMs. Moreover, each Bitcoin ATM machine allows you to perform transactions such as buying cryptocurrency in exchange for the money you have on your debit card or cash.
How to buy Bitcoins at an ATM?
Want to know how to buy Bitcoins from an ATM? Well, basically, the process of buying Bitcoins at a Bitcoin machine is pretty straightforward. The transparent process is the most significant advantage of purchasing Bitcoin via Bitcoin ATM because many people don’t like to deal with complicated processes of crypto exchanges. After you’ve found an ATM, you must insert your phone number. Then – complete identity verification steps, requested by the ATM. Only after that you can scan your QR code. And the final steps are inserting the cash money and confirming the operation. Thus, buying Bitcoin at an ATM is easy and obvious for anyone who has used a regular ATM before.
Disadvantages of buying Bitcoin from an ATM.
However, there are some cons to using Bitcoin ATMs. Like some regular ATMs, Bitcoin ATMs charge you with fees, which sometimes can be much higher than at the cryptocurrency exchanges. Moreover, you may face some limitations which may be evitated by using a regular exchange. The ATM may not have enough cash for your needs. The transactions may take longer to process simply because of the ATM itself.
Can you buy Bitcoin with cash using an ATM?
Yes, it is possible to purchase Bitcoin from a Bitcoin ATM using either your debit card (optional) or cash. Moreover, some Bitcoin ATMs will also allow you to sell your Bitcoin. However, as was mentioned before, you might experience troubles with finding ATMs with enough cash. Even if you do, there are no guarantees that there are no limitations or additional stops.
Why is it better to use cryptocurrency exchange?
If you are searching for a quick and easy way of buying Bitcoin, and high fees don’t scare you, using a Bitcoin ATM located in your area might be a good choice. However, it is better to consider using cryptocurrency exchanges in other situations. Real-life, face-to-face exchange is always better. You get human care, can actually see how the operation is done. Plus, the exchange offices have less limitations in terms of max withdrawal size and simply have more fiat currencies to choose from. Exchange office is a universal, versatile solution that adapts. ATMs need you to adapt to them. While choosing an exchange, consider the fees and the transparency of the process that the exchange offers you.
If you want to exchange USD for Bitcoin in Prague.
If you’re looking for a place to exchange USD to BTC in Prague, you should consider B2cash. B2cash is a cryptocurrency exchange in Prague. And it is an excellent example of a cryptocurrency exchange that offers attractive fees and clear conditions, which you can find on their website or by contacting a manager. However, you are located in another place, just remember to take into account those factors while searching for the best exchange in your neighborhood.