Why Bitcoin ATMs are the Wave of the Future
Updated: Mar 10
When you think of cryptocurrency, you probably think of celebrities giving endorsements about investments, economists analyzing data to make financial predictions, or Bitcoin miners toiling away in huge data centers.
But what about the simple act of withdrawing money from an ATM? While you may not consider obtaining cryptocurrency a part of your typical routine, maybe you should.
Just as you use an ATM to retrieve traditional money, you can now use a Bitcoin ATM to turn cash into crypto and back again! Here are some of the best things Bitcoin ATMs contribute to building our cryptocurrency future.
Offering the Convenience of ATMs to Crypto Users
Like a traditional ATM, a Bitcoin ATM is easy to use! The ATM itself will walk you through the step-by-step process of either converting cash into cryptocurrency or withdrawing cash from your digital wallet. If you want to convert cash into crypto and don’t have a digital wallet with a QR code already set up, you may be able to create a paper wallet right at the ATM as well. It may take a little getting used to, but after a while you’ll find that using a Bitcoin ATM will quickly become as simple as using a traditional ATM.
Providing Security of Transactions
Before using a Bitcoin ATM, you will want to feel confident in the security of your transaction. As you may know, one way that cryptocurrency differs from traditional money is that cryptocurrency is secured by blockchain technology. Crypto users expect a high level of security in all of their financial transactions, so Bitcoin ATMs must meet their demands. Bitcoin ATMs do not require you to access your traditional bank account, so you may actually find that using a Bitcoin ATM provides more privacy and security than the typical banking ATMs you have encountered.
Meeting You Wherever You Are
As cryptocurrency has gained popularity, cryptocurrency ATMs have begun to spread throughout the country, to the point that you likely have a cryptocurrency ATM near you! In fact, by the end of 2021 there were approximately 34,000 cryptocurrency ATMs across the world. When you need cash, whether you’re at the grocery store or on vacation, you expect to find a nearby ATM to let you withdraw your money. Now, as Bitcoin ATMs become more widely available, they will let you rely on the ability to withdraw cryptocurrency when you need it.
Paying in Crypto for the Things You Use Every Day
Understandably since cryptocurrency has not yet reached full mainstream adoption, you may be wondering what you can buy with cryptocurrency. After all, why would you need a cryptocurrency ATM if you can’t pay for anything with cryptocurrency? Increasingly, though, you can pay with crypto!
In addition to local establishments, mainstream retailers have started accepting cryptocurrency in their payment systems. For example, a number of large chain restaurants such as Starbucks and Chipotle now accept cryptocurrency as a form of payment. AMC Theatres, a large chain of movie theaters with over 900 locations, have also begun to embrace cryptocurrency for ticket purchases.
Ever heard of Home Depot? The hardware store chain now accepts cryptocurrency, and so does Whole Foods. Newegg, the electronics store, accepts Bitcoin directly, whereas other retailers sometimes require a specific platform. In any case, it’s not hard to imagine a future in which paying with cryptocurrency becomes as common as cash or credit.
Embrace the Cryptocurrency Future with Bitcoin ATMs
Bitcoin ATMs are convenient, safe, and available where you are, enabling you to use cryptocurrency on a day-to-day basis. Find out more about how to use a Bitcoin ATM and get ready to make the cutting edge of currency a part of your daily life.
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Originally published by NewsAnyway