What Can You Do with a Bitcoin ATM?

Here are 3 things you didn’t know about Bitcoin ATMs:

1. Not all Bitcoin ATMs are the same.

Bitcoin ATMs come in a few different configurations. The most basic (and most common) allow you to buy bitcoin with cash, and that’s it. The most advanced let you buy and sell a variety of digital currencies.

  1. Buy bitcoin and some altcoins with cash
  2. Buy and sell bitcoin with cash
  3. Buy and sell bitcoin and some altcoins with cash
  4. Buy and sell bitcoin and many altcoins with cash

2. 80% of Bitcoin ATMs don’t let you withdraw cash.

It’s a bit surprising, because we expect to get cash from any ATM-type of machine. But only 20% of Bitcoin ATMs in the USA allow you to cash out. 80% just let you buy. Most brands have a few two-way machines, and the rest are buy-only.

3. Bitcoin ATMs provide needed financial services to the unbanked.

While it may seem like Bitcoin ATMs are just fun and convenient machines, similar to vending machines that you use once in a blue moon when you want a quick snack, the truth is that BTMs fill a huge void in the lives of many.

--

--

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

169 Followers

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