What are Bitcoin ATMs and how do they work?

The main functions of Bitcoin ATMs are to allow you to buy Bitcoin (and other cryptocurrencies) with cash, or to sell Bitcoin in exchange for cash. Given that cash is slowly dying in popularity as a form of money, it seems quite ironic that it is the only form of payment that Bitcoin ATMs accept.

Can you buy bitcoin at a Bitcoin ATM?

Bitcoin ATMs can be a quick and easy way to buy bitcoin, and they’re also one of the most private ways to do so. Some Bitcoin ATMs even allow you to buy bitcoin with cash without requiring a bank account. The first Bitcoin ATM was installed in October 2013 in Vancouver, Canada.

What is a Bitcoin ATM kiosk?

Bitcoin ATM kiosks are machines which are connected to the Internet, allowing the insertion of cash or a credit card in exchange for Bitcoin. They look like traditional ATMs, but they do not connect to a bank account and instead connect the customer directly to a Bitcoin exchange for a localized and convenient way to purchase Bitcoin in person.

Should you use a bitcoin automated teller machine?

Using a bitcoin automated teller machine (ATM), people have the opportunity to purchase BTC by inserting cash or their debit cards and completing a few basic steps. But while bitcoin ATMs become a growing part of the industry, the thought of using one still strikes many as being oxymoronic.