Investing in cryptocurrencies such as bitcoin has been one of the most profitable investments of the past ten years. Since 2011, bitcoins value is up well over 275,000%. In comparison, the S&P 500, a popular stock market index, is only up just over 300% in the same time period.
One of the most challenging things about investing in bitcoin is the actual sign-up process. Luckily for all of us, they now have a more accessible option called bitcoin ATMs.
These bitcoin kiosks allow anybody, regardless of status, to buy and sell their favorite cryptocurrencies. Keep reading this comprehensive guide to learn more about bitcoin ATMs.
What Are Bitcoin ATMs
Bitcoin ATMs are just what they sound like. They are a physical bitcoin kiosk ATM that allows you to buy bitcoin. Conversely, you can also sell bitcoin when you’d like. According to a recent study, over one in ten Americans are looking to start investing in crypto within the next year.
It’s about as easy as depositing cash into your bank account. The kiosk gives you easy access to the most in-demand cryptocurrencies like Bitcoin, Ethereum, and Dogecoin. Not only that, but you can also purchase other assets such as gold. And to top things off, they also offer gift cards for convenience.
Bitcoin ATM FAQs
To make it easy for these looking to start investing in cryptocurrencies, here are a few of the popular questions surrounding bitcoin kiosks.
1) Where Can I Find Bitcoin ATMs
Crypto ATMs are popping up everywhere. If you are looking for bitcoin ATMs near me, you can do so by simply searching online. Online websites such as Bytefederal can show you exactly where the closest ATMs are to your location.
2) What Do I Need to Bring
The process is relatively easy for converting cash into crypto. All you need to bring is a picture id, your phone, and some cash. Once you arrive, you will find the kiosk that looks just like a traditional atm but has some sort of bitcoin on it.
3) Do I Need an Account
Yes, you will need to register, but the process is very straightforward. You can always download the app and register before traveling to the ATM if you want to register beforehand.
When buying gold, you will need to sign up for a separate account before arriving at the kiosk.
4) How Do You Use It
You will need a wallet to store your bitcoin in, so you should do that beforehand. Once you have a wallet, you can simply show up at a bitcoin ATM, select the crypto you want to buy, and enter the amount. You will then enter the cash or card and complete the transaction.
Are Bitcoin ATMs Right for You
When it comes down to it, bitcoin ATMs offer an easy, cost-effective solution for those looking to invest in cryptocurrencies. On top of providing crypto, you can buy another popular investment in gold. The process is easy, you can register in minutes, and then you can own some of the most popular cryptocurrencies on the market.
If you are interested in learning more about investing in bitcoin and other helpful topics, check out the rest of our blog!
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