Bitcoin has steadily gained popularity over the years, and today almost everyone wants to invest in Bitcoin. However, the high demand has made it difficult and expensive to buy Bitcoins. Also, selling it through exchanges has become a bit harder. However, the innovation of Bitcoin ATMs has made it easier to buy and sell Bitcoins. Here are the advantages of buying and selling Bitcoin through Bitcoin ATM:
Bitcoin ATMs are much faster
When it comes to the fastest way to buy and sell Bitcoins, Bitcoin ATMs lead the pack. The speed of the transaction pretty much depends on the type of Bitcoin machine. However, the fastest Bitcoin ATM can process Bitcoin transactions in 15 seconds. The Bitcoin machine scans your Bitcoin address’s QR code, and then you can feed bank notes to the machine, and click ‘’send.’’ The moment you press ‘’send,’’ the Bitcoins are sent instantly.
However, if you’re buying or selling Bitcoins for the’ first time through Bitcoin ATM, you’ll have to undergo some verification steps. This verification process largely depends on the operator, as well as the regulatory field and where the Bitcoin machine is situated. With the proliferation of mobile phones these days, verification happens through mobile phone SMS check. And this only applies when transacting small amounts. For larger amounts, verification happens through ID scan. Even with this stringent verification process, Bitcoin ATMs are still faster.
Bitcoin ATMs are user-friendly and abundant in Canada
While Bitcoin exchanges are still numerous compared to Bitcoin ATMs, you can buy and sell Bitcoins using a physical machine, rather than rely on risky Bitcoin exchanges. There are still many users out there who find it hard to navigate online platforms, so the availability of physical Bitcoin machines helps them a lot. Some people also dislike going through rigorous verification processes witnessed in many Bitcoin exchanges, so they prefer to buy and sell Bitcoin through Bitcoin ATMs.
Bitcoin ATMs offer a sense of security and anonymity
Bitcoin ATMs are installed and administered by reputable organizations. That means they have a physical addresses, and support systems (phone and email). Bitcoin buyers and sellers can interact with Bitcoin machines directly, which means there is a high level of anonymity and security. On the other hand, when buying and selling Bitcoins online, there is a possibility of someone stealing your Bitcoins.
Bitcoin ATMs allow those without bank accounts to acquire Bitcoins
Most Bitcoin exchanges require that you enter your bank account number for verification and to deposit fiat funds. Although mobile transactions have helped things, the majority of the population doesn’t own bank accounts, which makes Bitcoin ATMs the only option for them.
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