1 in 10 people currently invest in cryptocurrencies, such as bitcoin. Many people believe it is slowly becoming a universal currency that can be used to purchase items. Some retailers already allow you to purchase from them using cryptocurrencies.
To use cryptocurrencies, you need access to a bitcoin ATM. Bitcoin ATMs allow you to put money into bitcoin and take it out. It connects to your bitcoin wallet directly, which gives you easy access.
If you want to invest in the best bitcoin ATM service, here are 5 things you should look out for.
1. Bitcoin ATMs that are easy to use
ATMs are a familiar technology that many people have been using for years. You already know how to deposit into your bank account with an ATM, now you’re just doing it with your bitcoin wallet.
When you use a bitcoin ATM, you just have to select the type of bitcoin you want to purchase. You give the ATM your name, number, and digital wallet information. After that, you just insert your cash and you’ve got more crypto!
You can also easily withdraw traditional currency from a bitcoin ATM. You just select the amount you want to sell and confirm it. The money will come out in cash like a traditional ATM.
User-friendliness is one of the biggest draws towards bitcoin ATM usage. The best bitcoin ATMs will have great customer service hotlines you can contact if there are any issues or questions when depositing or withdrawing.
2. Security and privacy are at the forefront
As something that takes place on the internet, privacy and security should be your number one concern when picking out a bitcoin ATM. You give these networks a lot of private information, and you don’t want it getting into the wrong hands.
Byte Federal, for example, is a popular bitcoin ATM that aims to give users an easy-to-understand, secure experience. When you use Byte Federal, your transactions don’t need to show up on your credit card or bank information. No one has to know that you’re investing in crypto unless you want them to.
This bitcoin ATM will also keep your information secure because you always own your crypto entirely. You don’t have to deal with giving a buyer or seller online all your information, which prevents the information from falling into the wrong hands.
If an ATM was hacked, the hacker wouldn’t have access to anything other than your name and phone number. Personal information is never at risk.
3. You can get your money or invest fast
Rather than trying to go into a trading space and having to wait a long time for your bitcoin to hit your wallet, bitcoin ATM transactions are processed within minutes. Exchange sites can shut down because too many people are using the site at once, which is bad for investing. Bitcoin ATMs do not have this problem.
The transaction speed is perfect for when the market suddenly gets better. You won’t have to worry about missing out before prices change. At the end of the day, this puts more money in your pocket without long wait times or lots of work.
Not only can you get your money fast, but the best bitcoin ATMs will have a variety of options for you to invest in. Bitcoins are not the only cryptocurrency that is popular.
Etherium, Dogecoin, Marscoin, and Litecoin are all examples of popular cryptocurrencies that you can access at a bitcoin ATM. You could even invest in multiple different coins at one time. Speed and convenience are at the heart of bitcoin ATMs.
4. No hidden fees
Everyone hates hidden fees. Hidden fees can reduce your overall profits. With ATMs, undisclosed transaction fees are a common issue that no one wants to experience.
The best bitcoin ATMs that you can pick from won’t have any transaction fees. You will get all your money when you want it. You also don’t have to sacrifice a cent for using the ATM.
Some bitcoin services might charge you to set up an account when you’re first starting. After you feel ready to go and all your information is in there, they request payment to confirm your account creation.
Bitcoin ATMs don’t have this problem. Your account is free to make, and there’s no monthly charge to keep your account open.
5. Bitcoin ATMs that allow cash and card transactions
For some people, their jobs result in a lot of cash that they don’t know what to do with. Servers, drivers, and delivery services are common occupations that will get a lot of payments in cash.
If you have a lot of cash on hand, you can use them at a bitcoin ATM. A bitcoin ATM provider that accepts cash can make it easy to invest in cryptocurrencies without breaking into your bank account. You just select what you want, put the cash in, and you’ve got more crypto in your wallet.
More and more people are beginning to reject cash. Cash for many is seen as tedious or inconvenient compared to a credit or debit card. The best bitcoin ATMs will be able to accommodate both cash and cards.
With cards, some ATMs will have limits on how much you can withdraw or purchase. But, they are very high limits, like $21,000 a day in either direction. When you use a card, you can invest more or withdraw more in one sitting.
No matter how you want to invest, the best bitcoin ATMs will be able to accommodate any situation.
Invest with the best bitcoin ATM today!
Now that you know how easy it is to use the best bitcoin ATM, nothing is stopping you from making a great investment in minutes. Put your extra money into something that grows every day.
If you liked this article and want to learn more about investing in bitcoin or other cryptocurrencies, check out the rest of our blog.