There are many ways to buy cryptocurrencies like bitcoin, ethereum etc online, but what if you’re sitting on a pile of cash that you want to immediately convert. You will need to follow a more longer process.
A Bitcoin ATM (Automated Teller Machine) functions in a more similar way to the ATMs we commonly used to deposit and withdraw cash into and out of our bank account. A regular ATM will take your cash and update your bank balance with an IOU that you can use to pay others.
With a Bitcoin ATM, your cash is exchanged for Bitcoin, which is deposited directly into your own Bitcoin wallet. It is also often possible to purchase selected altcoins while others, the option is not available
at Bitcoin ATMs, and some outlets will also include the option to sell your crypto for cash!
In my next post i am going to outline the various ways of using the bitcoin ATM.