Bitcoin ATM (BTM)
A Bitcoin ATM (BTM), also known as a Bitcoin kiosk, is an automated teller machine that allows users to buy and sell bitcoin using cash. BTMs provide a convenient way for people to purchase cryptocurrency without having to use online exchanges or digital wallets. They are typically found in retail locations such as convenience stores, gas stations, shopping centers and other public areas.
In order to use the machine, customers must first create a wallet – either with the BTM operator or through another provider like Coinbase – then send funds from their bank account into the wallet address provided by the BTM operator. Once funds have been deposited into the wallet address, customers can then select one of two options: “Buy” or “Sell”. When selecting Buy they will receive their purchased bitcoin directly in their wallet; when selecting Sell they will receive cash directly from the machine itself.
The cost of buying and selling bitcoins varies depending on location and may include transaction fees charged by both operators and/or networks processing payments made at BTMs; these costs should always be taken into consideration before making any transactions via BTM machines. Most BTC ATMs also require user identification prior to completing any purchase/sale transactions which requires them providing valid government-issued ID documents during each visit along with phone number registration for additional security measures put forth by some operators.
When it comes to finding Bitcoin ATMs near you there are several methods available including online directories such as CoinATMRadar which provides up-to-date information regarding all existing machines located around the world; additionally users can find nearby BTMS using Google Maps search engine toolset filtering out results based on specific criteria like distance radius or currency type supported among others useful features offered by this service provider platform at no cost whatsoever apart from what might be required for data usage if connecting while roaming over non-WiFi connection(s).
