As of March 11, 2022, a single Bitcoin was worth $38,754.23.
Since Bitcoin was invented in 2008, its value has grown massively. While many people have called it a bubble, Bitcoin and other cryptocurrencies don’t seem like they will disappear any time soon.
The increased popularity has led to several technological advancements, with one of them being Bitcoin ATM providers making crypto more readily available to users.
For a guide on how to use a Bitcoin ATM and some of the most popular providers, keep reading.
What Is a Bitcoin ATM?
Bitcoin ATMs are kiosks that allow users to exchange fiat currencies for cryptocurrencies. People can deposit their money in exchange for Bitcoins, or other cryptocurrencies such as Litecoin, Dogecoin, Monero, and more.
Unlike traditional ATMs, you cannot withdraw money from a bank account, rather they use a constant internet connection and let users make exchanges.
1. Byte Federal
Byte Federal is arguably the best Bitcoin ATM, using KYC and AML policies. These help keep things secure and protect you from potential scams. There are no hidden fees, and receipts are provided so you can maintain a detailed record of all transactions.
These transactions are instant, and multiple cryptocurrencies can be exchanged. Live support is available 24/7 within the US if you have any issues using this crypto ATM network.
It takes just minutes to open an account at a Byte Federal ATM.
2. Bitcoin Depot
Bitcoin Depot is dedicated to providing ATMs that are safe and secure while remaining easy to use. They have over 5,000 ATMs across the US – more than any other operator. These generally offer 24-hour service and live customer support.
Transactions are instant and you can withdraw Bitcoins, as well as dozens of other cryptocurrencies.
CoinCloud has thousands of ATMs available across both the US and Brazil. On top of this, CoinCloud provides a decentralized wallet application. This app provides many standard crypto wallet features, including:
These features can be accessed directly through CoinCloud ATMs after logging in with your phone number.
Walmart was one of the largest corporations in the US long before Bitcoin existed. In recent years they have started hosting Bitcoin ATMs, allowing customers to access cryptocurrencies within their stores.
These operate out of their Coinstar Kiosks and work in conjunction with the Coinme crypto wallet. Customers can purchase cryptocurrencies with cash, which could become incredibly useful in supermarkets in the future.
CoinFlip is one of the largest cryptocurrency ATM providers in the world. Using their ATMs, you can buy crypto using cash, card, or even bank transfers.
CoinFlip focuses on speed, convenience, and security, which are among the most important traits when it comes to dealing with cryptocurrencies. They believe strongly in the future of crypto and aim to revolutionize the industry.
The Future of Bitcoin ATM Providers
The popularity of cryptocurrency is still increasing, and these ATM providers, as well as others, are expected to keep growing in turn.
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