They’re Cool … But Why do Bitcoin ATMs Exist?

Familiar… But How Does it Work?

First off, Bitcoin ATMs operate very similarly to the bank machines you’ve used before. It’s simple: you verify your identity, deposit your cash into the machine, and make your transaction. No schemes, no complicated procedures … just a simple and familiar transaction. These machines are designed to simplify the cryptocurrency transaction experience so that it’s safe, legal, and secure. ATMs are an important part of our financial experience, and have proven to be just as viable in the rapidly-maturing age of digital currency.

History

The first cryptocurrency ATM went live in 2013. After a long regulatory journey, some of the first licensed vending machines hit the market in 2014, including Coin Cloud BTMs. The agreement was that legitimate Bitcoin ATMs had to follow the same regulations and laws as conventional ATMs, including a limit on withdrawals and deposits.

Benefits of using a Bitcoin ATM

The Bitcoin ATM offers a lot of advantages over buying and selling crypto online.

--

--

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Coin Cloud

Coin Cloud

The world’s leading operator of two-way Digital Currency Machines (DCMs), more advanced Bitcoin ATMs.