How Common Are Bitcoin ATMs? (And Other Questions!)

Must read

Since Elon Musk decided to break up with crypto, the market has been more stable than ever before. Elon Musk, one of the richest people in the world, has enough money and enough mainstream fans to artificially raise and lower economies with a single Tweet.

Otherwise, cryptocurrencies grow faster than fiat economies, with in-built controls against inflation. This makes them a great long-term investment, nearly guaranteed to grow.

But how can you get your money into crypto? That’s simple — type in Bitcoin ATMs near me to find the closest. Will there be many?

The answer is yes, but can you trust them? Keep reading to find out how common reliable Bitcoin ATMs can be!

Bitcoin ATMs: What Are They?

There are more than 38,000 Bitcoin ATMs and other cryptocurrency ATMs across the USA. The best Bitcoin ATMs don’t stop at Bitcoin, but also include:

  • Ethereum
  • Dash
  • Marscoin
  • Litecoin
  • Bitcoin Cash
  • And more

At some Bitcoin ATMs, you can even exchange cash for gold, or gift cards. This is an incredible ability, as gift cards have far more utility than most people realize. Gold is still a huge market stabilizer and a great investment tool.

How to Select the Right Bitcoin ATM

You could throw a stone and hit a Bitcoin ATM, actually. The problem is finding one that strictly follows regulatory requirements and offers the best service to protect your privacy and legal rights.

Find a Bitcoin ATM that focuses on adhering to KYC and AML requirements. KYC stands for “know your customer,” a requirement for all financial institutions. Not all Bitcoin ATM companies devote time, staff, and attention to keeping up with these many regulations.

Bitcoin ATMs are not exchanges, but since there is an exchange of currencies happening, they must follow this regulation.

AML stands for “anti-money laundering,” and is critical to securing the world against terrorism and organized crime. A Bitcoin ATM that follows industry best practices actually allows you to exchange more money more often than ones that are lax.

They’re also likely to be around much longer, giving you a partner in cryptocurrency trading.

Bitcoin ATMs Near Me

Anywhere in the USA, even in rural areas, you can find access to Bitcoin ATMs. Many Bitcoin ATM networks like www.bytefederal.com provide safe access to cryptocurrencies.

All you need to benefit are:

  • Official picture IDs, such as a driver’s license
  • Cash
  • A Bitcoin wallet app or paper with QR code

Registration usually only takes 3-5 minutes tops. Once you’ve registered, many offer trades between $9,999 to $21,000 maximums per person per day.

Bitcoin ATMs Are Here to Stay

Bitcoin ATMs are a great onramp and offramp to Bitcoin and other cryptocurrencies. You don’t have to deal with exchanges and their custodial wallets, or cool-down periods, waiting to get unlimited access to your funds.

They also, in most cases, give you a measure of privacy that exchanges can’t match.

Did you learn how to find a Bitcoin ATM near you and why you should be using it? To find out more helpful cryptocurrency information and advice, keep reading our articles!

More articles

Leave a Reply

- Advertisement -

Latest article