Which is Safer? Bank or Bitcoin ATM?
Bitcoin ATMs Remain Safe During COVID Pandemic
During the COVID-19 pandemic quarantine, we’ve been urged to stay away from people and social distance as much as possible.
But what if you need to send money to a friend or relative overseas, or even just down the street? What’s the safest and fastest way to do that? Especially if they want to end up with cash in hand?
Believe it or not, the fastest way is likely to be a digital currency machine (DCM), commonly known as a Bitcoin ATM. And the safest way is … well, the same!
Fastest Way to Send Money
Even if you could walk easily to their house, you would have to pass people along the way, wear a mask, and be face-to-face with whoever you’re delivering the cash to (plus you would probably have to get the cash somewhere in the first place). So even if it was the fastest way, it wouldn’t be the safest way.
Arguably just as fast would be using a DCM. You could insert cash at your end, send it to someone else’s crypto wallet, and they could withdraw cash at their end. The whole thing takes as little as 10 minutes from start to finish. And with over 875 locations, there’s probably a Coin Cloud DCM near you.
If the other party lives anywhere besides the same city as you, the DCM would undoubtedly be the fastest choice. Bank wires take several days, and digital payment platforms become complicated if the other person is in another country. Being decentralized and borderless, Bitcoin doesn’t have the same type of issues (that’s why they call it “frictionless”).
Safest Way to Send Money
Besides the speed, using a DCM is actually the safest way too … not just in terms of avoiding germs, but also in making sure your money gets where it’s going.