What Are Bitcoin ATMs and How Do I Use Them?

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November 22, 2019 by
What Are Bitcoin ATMs and How Do I Use Them?

Whenever we talk about Bitcoin and cryptocurrency awareness, a lot of people think that it is all about just knowing what Bitcoin is and the fact that it exists. Far from it, Bitcoin and cryptocurrency awareness goes beyond that. You may have heard about Bitcoin and even understand how it works, but have you ever used it?

How Do Users Acquire Bitcoin?

Bitcoin is not here just for information. The ultimate success of Bitcoin and any other cryptocurrency lies in their usage and implementation. The primary starting point for using Bitcoin, or any other crypto is by acquiring them. There are several other ways of acquiring cryptocurrencies such as mining, receiving them as payment for services or as rewards for tasks.  Buying however remains the most popular method of acquiring Bitcoin and cryptocurrencies among users.

Originally, buying Bitcoin used to be a complicated procedure. You had to be registered with some exchange to be able to have access to Bitcoin or any other cryptocurrency. As a matter of fact, it was even more difficult to purchase altcoins. This is because none of them was paired directly with fiat currencies at the exchanges. Therefore, in order to buy any altcoin, you would have to go through multiple steps of buying Bitcoin first, and then exchanging them for your desired altcoin.

These multiple steps made it stressful and time consuming, it also left room for error in the transaction. Besides, it attracted more fees, since you will be charged for every step of the transaction. The community certainly needed a better way to buy Bitcoin and cryptocurrencies, and sure did they get one.

How Does the Bitcoin ATM Work?

Bitcoin ATMs are the easiest methods of buying Bitcoin and cryptocurrencies today. They involve the simple procedure of charging your credit/debit card and dispensing Bitcoin or cryptocurrency into your wallet. Yes, it is that simple and straightforward.

ATM is the acronym for Automatic Teller Machine. It is a popular implementation in the mainstream banking system of today. The same technology, working under the same principle has been adopted in the digital currency ecosystem. There are physical Bitcoin ATMs that are being used in different parts of the world. You simply insert you card, press a few buttons, get charged and have your crypto of purchase dispensed into your wallet.

There is a more effective Bitcoin ATM system that does not require you to leave your desk. You can even access this virtual ATM using your smartphone or any other electronic gadget that is connected to the internet. This implementation has made it very easy to buy Bitcoin without any complication. In addition, the process is so fast that you can complete a transaction within seconds.

Coinstituency’s Bitcoin ATM

The Bitcoin ATM that you can find here on Coinstituency does not require you to sign up. Also, depending on your location, KYC may be required for just the first transaction. All you need is a Visa or Mastercard and a personal cryptocurrency wallet address, depending on the crypto you want to buy. The cryptocurrencies that you can buy on the Coinstituency crypto ATM include BTC, BCH, LTC, XRP, ETH, BNB, XLM and TRX.

Buying cryptocurrencies have never been this easy and straightforward. This process will save you from the volatility of the fast moving market, ensuring that the value of your purchase does not change drastically as a result of delayed transactions.

In essence, Bitcoin ATMs have arrived as a much needed solution to the problem of buying Bitcoin and exploring the inherent values of the technology. You too can begin your adventure into the world of Bitcoin and cryptocurrencies by using the Coinstituency Bitcoin ATM. You can even make instant purchases for as low as $50 dollars for any of the above listed cryptocurrencies.

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