ATMs (Automatic Teller Machines) are an electronic telecommunication machine that you can withdraw money or transfer money in a few seconds. ATM makes day to day life very easy. We don’t have to go to the bank every time for the deposit or withdraw money. With the use of debit cards, you can withdraw an array of money types quickly
Bitcoin ATM’s utilize the mechanism of Blockchain technology which protects the data and maintains all transaction data.
Nowadays, Bitcoins exchange and purchase ATMs are available globally. The Bitcoin ATMs are kind of similar to normal cash ATMs devices so anyone can use it without much effort. Bitcoin ATMs permit to withdraw Bitcoin from the network the ATM is attached to. There are even some other bitcoins ATMs that can convert your Bitcoin into other currencies.
There are different types of Bitcoins ATMs that are available in the market for selling/buying Bitcoins. Some of the bitcoin ATMs are Satoshi1 Bitcoin ATM, Robocoin kiosk, and many more. You can select any ATM as per your needs, it’s up to you!
Some of the Bitcoin ATMs provide dual functions like purchasing and buying Bitcoin with cash. There are two ways to withdraw bitcoins from machines – the cash booth and ATMs.
The Cash Booth ATMs are similar to the normal ATMs but they are not connected to the bank accounts and instead connected to the blockchain. All types of Bitcoins ATMs, however, are connected to the internet, allowing cash and card payment.
One important thing to note about the Bitcoin ATMs is that they sometimes require identification to use. It may also inquire about your phone number for KYC purposes. This usually happens when your purchasing is of large quantity.