Are Bitcoin ATMs Safe?

March 11th, 2018

As digital currency becomes more popular, more people across the world want to know what is the fastest way to buy Bitcoin and what it can be used for. These days buying your first Bitcoin isn’t hard at all. Bitcoin ATMs can be found in all major cities around the world. You can also purchase bitcoins from online exchanges, though Bitcoin ATMs are the most common way for people to buy or sell Bitcoin. One question people are asking is, “Are Bitcoin ATMs safe?” The answer is yes, there are all types of sophisticated machines that use different authentication techniques to keep your information protected.

Bitcoin Popularity Increase

Now more than ever, Bitcoin is used for all kinds of online as well as offline transactions. Even with the rise in popularity, many people are still unsure about what is the best way to buy or sell bitcoins. With Bitcoin ATMs popping up more and more, people are able to buy and sell digital currency using this innovative machine. Bitcoin ATMs make the process of buying or selling Bitcoin simple and fast.

To date, there are over 1400 Bitcoin ATM machines installed around the world. Bitcoin ATMs or BTMs were created to buy and sell bitcoins. What are some of the reasons that more people are choosing to buy their bitcoins from Bitcoin ATMs?

Speed

Bitcoin ATMs are one of the safest and fastest ways to buy and sell digital currencies. Depending on what type of machine you use, will determine the rate of transaction. Currently, there are many advanced machines that only take 15 seconds before your first transaction is complete. This operation consists of scanning the QR code of the Bitcoin address, putting money into the machine, and then clicking the “send” option. Bitcoins are then immediately sent to your digital wallet.

 

When making Bitcoin transactions, there are several verification steps that are required. Many common verifications include a mobile phone check via SMS for a certain amount and an ID scan for larger amounts of money. When compared to online exchanges in terms of speed of transactions, Bitcoin ATMs are the best option.

Bitcoin Security & Anonymity

Bitcoin ATMs are the safest way to send and receive bitcoins. Bitcoin ATM operators have a business address, email address, and a support phone that is provided to all of its users. Users interact with BTM machines directly-no one else is involved in the process. Compared to all other modes of buying or selling bitcoins, this is the safest way to “play”.

The sample applies to user anonymity. If a Bitcoin ATM machine has full featured verification turned on, it can make it tough to make an anonymous purchase. However, the more popular option that is featured in most BTMs doesn’t require any form of verification for all small transactions.

Easy To Use

While one may argue that Bitcoin ATMs are harder to find then say, online exchanges, Bitcoin ATMs are much easier to use. Bitcoin ATMs have a physical location where you can visit and purchase or sell digital currencies. Bitcoin ATM machines are also available 24/7 making it easy for Bitcoin users to buy or sell bitcoins any time, day or night. As the demand for Bitcoin increase, more and more Bitcoin ATMs are popping up across the United States and around the world.

When using an online exchange, Bitcoin users must go through a registration process and can prove to be a long, tiring process. Compare this to the simplicity of being able to go to your local grocery store and purchase bitcoins with ease and you’ll see why many people prefer to use Bitcoin ATM machines.

 

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