Posted on: 22. March 2018

Bitcoin ATM

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What is a Bitcoin ATM?

Bitcoin ATM comes from ATM, wich comes from the English term Automated Teller Machine. In the past, with the increasing presence of Bitcoins, more and more opportunities were developed to acquire them, and as a result, Bitcoin ATMs were created.

These are mainly machines where the cryptocurrency can be converted into fiat money. These machines are usually connected to the Internet and have access to the current exchange rates.

After entering an amount, the Bitcoins are then transferred to a predetermined wallet, from which the Bitcoins can be withdrawn. Though it’s a simple way to exchange Bitcoins, it should be noted, however, that high fees for both purchases as well as sales on these machines are levied as well..

Where are Bitcoin ATMs located?

Bitcoin ATMs are found mainly in North America and have not yet prevailed in Western Europe, although there are already some there. However, it is likely that in the future more and more of these Bitcoin ATMs will be installed worldwide, as the interest in Bitcoins continues to increase and thus, the demand.

Furthermore, there are already various directories on the Internet where known Bitcoin ATMs and their locations are shared.

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