Cryptocurrency is becoming increasingly popular, with the growth of Cryptocurrency there is also a growing need for Cryptocurrency ATM. If using Cryptocurrency and Cryptocurrency ATM are new to you then here is some pointers as to what you may need to know.
What is a Cryptocurrency ATM
A Cryptocurrency ATM is a machine that allows you to buy Cryptocurrency by using cash or a debit card. Some machines allow you to both buy and sell Cryptocurrency at the same machine. Some machines will require that you have an existing Cryptocurrency account before making a transaction. These Cryptocurrency ATM machines are connected to the internet to allow cash or credit card transactions. However, they do not connect to a bank account they connect directly to the user for Cryptocurrency exchange.
How Do You Deposit Money at a Cryptocurrency ATM
You can use a Cryptocurrency ATM machine to deposit money, once you have deposited money the ATM machine will do one of two things. It will either print an offline wallet for you or it will send cryptocurrency to your Bitcoin wallet. If you want the cryptocurrency to be sent to your wallet then there is the option to scan a QR code using the Cryptocurrency ATM scanner. That way the Cryptocurrency is transferred straight in to your wallet.
Is There a Need To Use Any ID
There is no suggestions that you would need to use any ID when buying Cryptocurrency at an ATM. They do not require you to disclose your identity or any facial of fingerprint identification. You can just simply buy Cryptocurrency from designated ATMs for a flat currency.
Are There Any Fees When Using a Cryptocurrency ATM
Cryptocurrency ATMs charge an average transaction fee of 8.93%. Cryptocurrency ATMs typically charge a percentage as opposed to a flat fee that you would get at a normal bank ATM. The limit to any daily withdrawal amount is $5000.
Are There Many Cryptocurrency ATMs available
Recent numbers suggest that there are over 7000 Cryptocurrency machines all over the world. It is said that 75 different countries are housing and using these machines. This number is set to grow with the popular and demanding rise in Cryptocurrency worldwide. More and more Cryptocurrency machines are being installed every day. These are usually in public places such as airports, shopping malls, restaurants and taverns. You can find your nearest Cryptocurrency by using a Cryptocurrency ATM map.
If Cryptocurrency exchange is something that you are involved in or you are seriously considering getting involved in then there is a high importance on doing your research. The value of Cryptocurrency can fluctuate so sometimes you will be highly rewarded for your purchase but sadly at times you can be left running on a loss. It is something to seriously consider and you want to be sure you know as much as possible about all aspects of buying, selling and their value before making any kind of purchase.