Technical analyst Kevin Wadsworth expects Bitcoin to hit its peak in October of this year. If Bitcoin can hit the $100k mark, some predict that all altcoins will triple.
For those who have yet to invest in this popular cryptocurrency, now might be the best time to make a return on investment. If you don’t want to use an online exchange, a Bitcoin ATM is a viable option.
Read on to learn the five benefits of using these ATMs.
1. Financial Privacy
The most popular benefit of using a Bitcoin ATM is the privacy that is offered with it. Just like Bitcoin, these ATMs were designed to be secure, private, and decentralized.
When you sell Bitcoin to transfer it to your wallet, the record of this transaction is visible for anyone to see. Yet, it maintains privacy as there is no link between your identity and your wallet.
When you work with an online exchange, your transactions won’t be 100% private. Although you need to provide proof of identity to use a Bitcoin ATM, the transactions are more private than those on an online exchange.
Along with the benefit of privacy, you’ll feel safe when you use a Bitcoin ATM. A cryptocurrency exchange can get hacked and you can run into scams online. In contrast, a physical Bitcoin ATM is tamper-proof.
Local businesses and operators that run these ATMs must sign legal documentation with the Bitcoin ATM company. The document states that no third parties can be involved in the transactions.
To find businesses and operators that have Bitcoin ATMs, visit the homepage of Byte Federal.
A Bitcoin ATM offers a quick way to buy Bitcoin or sell it. Online exchange transactions to buy cryptocurrency are speedy as well, but the signup process tends to be lengthy.
Some exchanges won’t approve and verify your account for weeks. This delay can cost you if you plan to buy Bitcoin during a dip to get a good price.
If you want to sell cryptocurrency using a Bitcoin ATM, you don’t have to worry about any delays. It only takes a few minutes for the transaction to carry out.
4. Ease of Use
If you’ve used a traditional ATM before, you’ll have no trouble figuring out how a Bitcoin ATM works. Although there are a few minor crypto-related differences between the two ATM types, the uses are still similar.
By using a Bitcoin ATM, you don’t have to worry about complications with trading or computer malware issues.
5. No Tech Knowledge Required
When you buy and sell Bitcoin on an online exchange, you’ll be better off knowing more than the basics of technology. On the other hand, using a Bitcoin ATM is simple.
You don’t need to be tech-savvy to understand how the system works. One of the leading problems of Bitcoin trading is the inability of some to learn the process.
Should You Use a Bitcoin ATM?
Have you been deterred from trading cryptocurrency because of the complications and tech issues that might occur? If so, using a Bitcoin ATM will allow you to trade without worries.
If you want to benefit from privacy, security, speed, and ease of use, start your search for a Bitcoin ATM near you. Watch your funds roll in after!