​How to Buy Bitcoin from an ATM Machine

Matt Bird  |

As cryptocurrencies are becoming part of the mainstream online economy, there are not just questions about what they are, but also, how to acquire them.

Bitcoin has become one of the world's most popular cryptocurrencies making its debut in 2009. As its popularity increased, Bitcoin has become active all over the globe. However, there are still many unsure of what Bitcoin is and how it can be used. Bitcoin is a form of electronic cash, where the seller is in control. This means that there is no middleman. This idea was a massive attraction for many who were looking to send and receive money without any interference. Bitcoin popularity has grown, as well as its accessibility over the last few years. Crypto companies, such as Coinbase, Bitcoin of America, Bitfinex, and Kraken allow individuals to buy Bitcoin from ATM locations, wire transfers, store payment locations, and tablets. A customer can do all of this and still receive coins the same day.

Knowing the Basics

Bitcoin has become a popular craze all around the globe. The cryptocurrencies can now be used as an investment or for online purchases. It has become more accepted in major retail stores and businesses; Expedia, Microsoft, Wikipedia, and Subway are just a few examples of popular places to spend your coins.

The Rise of Decentralized Exchanges

Before looking for the best place to purchase Bitcoin, you should know the difference between centralized and decentralized exchanges. Centralized platforms are dominating the cryptocurrency market as the majority of deals are made through centralized portals. Centralized sites or exchanges are in demand, but one downside is commission. Centralized exchanges have that risk of getting hacked, charging high fees, and take a lot of time. Having a decentralized alternative available makes centralized exchanges not as productive.

Bitcoin Investment

Before investing, there are many helpful tips and advice that should be considered. Even though Bitcoin has become the leading cryptocurrency, there are still a few potential risks. Huge price fluctuations can make it a risky investment, so it's suggested to invest funds you can afford to lose. It is essential that you learn how to properly store your Bitcoin and make sure that they are well-protected. Researching when a good time to purchase Bitcoin can be helpful. Many investors make the mistake of only focusing on coin price and then choose to invest. It is essential to do your research on investing. This could mean reading a book, watching a video, or simply just asking a professional for advice.

Advantages of Bitcoin

Other forms of payment, such as credit and debit cards, have high transaction fees. However, Bitcoin transfers have low and affordable fees. The high fees charged by other financial institutions have led many to turn from these payment forms. Transactions in the cryptocurrency space are based on a peer-to-peer transaction (like Paypal and Venmo), and most times they do not involve any third party. This allows for numerous benefits. Users will not be charged extra fees.

Similarly, transactions are much faster since both parties will be dealing directly with each other. Due to its nature, Bitcoin transactions are more secure compared to different payment modes. Hackers cannot prey on the transactions with hopes of defrauding either party.Transactions are carried out via a blockchain network, which reduces the chances of fraud due to the immutable blockchain ledger.In addition to that, blockchain allows for transparency, which guarantees security for both parties during the transactions.

Where to Store your Bitcoin?

Still eager to know where you can store your Bitcoin? Here are some pointers that may help you find a safe place to store your coins. Typically, this is the first step a customer will follow before buying Bitcoin. To start, you need to arrange a digital wallet. Both online and offline digital wallets are available to help in storing your crypto-assets. A digital wallet can be used to buy or sell; it's a program on your smartphone or computer. Cryptocurrencies can be transferred from this digital wallet instantly. Then it can be used further for purchases of goods or services at online or offline stores. Over time, many businesses and merchants have started accepting Bitcoin as a form of payment. Bitcoin has begun to integrate into a daily trend for many. With the use of digital wallets, you can make transactions instantly.

The Best Place to Trade Bitcoin

There are numerous online trading platforms available in the market. Coinbase is the most respected and most significant platform across the globe. It's one of the best places to start crypto trading using suitable currency. Coinbase currently supports Bitcoin, Ethereum, Litecoin and Bitcoin Cash. Crypto users need to register with the portal and connect a bank account to start trading. Funds can be easily transferred in and out from the account in a few simple clicks.

Coinbase and Bitcoin of America, are just a few reputable Bitcoin trading platform in the business. Crypto users can use online trading platforms for fast and hassle-free exchanges.It takes less than one minute to register your account, making it easy for beginners. Most importantly, trading with a reputable bitcoin company is relatively safe. Typically, they are required to register with FinCEN, the US Department of Treasury, as an MSB. They operate in full compliance with all Federal and applicable state laws.

For store owners: Hosting A Bitcoin ATM

A bitcoin ATM offers a convenient way for your customers to buy and sell bitcoin in your store, bar, restaurant, or office building. The bitcoin machine resembles the appearance of a conventional ATM, which collects cash and prints the customer a receipt and a code when they buy bitcoin. Companies, such as Coinbase and Bitcoin of America, offer many different advantages, such as monthly revenue, when you host a Bitcoin ATM location.

Moreover, Coinbase and Bitcoin of America and others are registered with FINCEN and fully comply with their regulations. You can earn monthly revenue and increased foot traffic! You only need to provide power and an internet connection to their machine. These companies are responsible for maintenance, cash logistics, and legal compliance. They also service all of their machines throughout the country and also get all necessary permits. Bitcoin has been rapidly growing worldwide while gaining acceptability around the globe. If you choose to own a Bitcoin ATM machine in your store, customers can then use the machine and buy their bitcoin at your store. They also will market your store address to direct their customers to your store to use the machine.

Host a Bitcoin Tablet

Bitcoin is a global digital currency that has steadily increased in popularity for the past 8 years. Bitcoin of America now offers a tablet service that puts a Bitcoin ATM in your hands. This service is free and includes delivery. It comes with free advertising on your location on Google ads and social media. It helps give you an advantage over competitors and brings monthly revenue to your store. All that is required is both power and internet connection. Bitcoin of America takes care of all logistics and compliance.

Finding Bitcoin Near You!

There are dedicated mobile apps and websites available to help you find Bitcoin ATMs and tablet locations near you. And like any new product, financial services and yes, even cryptocurrency do your research, get informed, become an expert and join the growing digital economy.

By: Matt Bird | LinkedIn | Twitter | Instagram

Matt Bird is the Network President of Equities News (Equities.com), Executive Producer and co-host of the Traders Network Show. 2019 Matt Bird was appointed to the advisory board and committee of Humanity 2.0, a Vatican City based non-profit focused on solving human impediments. Mr. Bird also serves as chairman (Co-Founder) of Communication Marketing agency 1-800-PublicRelations (1800PR). In 2015 Matt Bird was ranked 3rd "Top 10 Most Influential Communications and Media Executives for Impact by the United Nation and PVBLIC - and was the acting director of communications for the U.N. SDG Media Zone. Matt Bird has lead ESG, social impact, sustainability and Public-Private Partnership initiatives for the United Nations, UN SDGs, UNCTAD, EU Parliament, NGOs and the U.S. Department of Commerce (International Trade Administration- trade.gov). Prior, Matt Bird was CEO of MUNCmedia, a (PaaS) news content distribution platform and network spanning 1400 publishers, reaching more than 110 million retail and institutional investors worldwide. In 2009 NASDAQ acquired the platform for integration into NASDAQ Financial Services group. The core technology and IP powers news targeting algorithms and content monitoring systems used by nearly all stock exchanges and newswires services today. On Sept, 21 2009 Matt Bird rang the NASDAQ Closing Bell in honor of his partnership the NASDAQ OMX and Globe Newswire for accomplishment to further the FinTech and financial communications industry. Matt Bird has severed as EVP and director rolls at BBDO, MarketWatch (formally ScreamingMedia), IGM. Mr. Bird current sits on numerous NGO, Public-Private partnership and reneging growth organization boards focus on economic development for social change.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer.

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