– A Bitcoin ATM is a type of automated teller machine that allows users to buy or sell bitcoin using cash. Bitcoin ATMs are typically located in public places, such as shopping malls, airports, and convenience stores.
– Bitcoin ATMs typically work by scanning a QR code on the user's mobile device or by entering a wallet address. Users can then insert cash into the machine and receive bitcoin in their digital wallet.
– Bitcoin ATMs can also be used to sell bitcoin for cash. Users can scan a QR code on their mobile device or enter a wallet address to send bitcoin to the machine. The machine will then dispense cash based on the current market value of bitcoin.
– Bitcoin ATMs are not regulated in the same way as traditional ATMs, which can lead to higher fees and less transparency for users. Fees for using a Bitcoin ATM can vary depending on the location, the type of transaction, and the market value of bitcoin.
– Bitcoin ATMs are becoming increasingly popular as more people become interested in buying and selling bitcoin. According to Coin ATM Radar, there are currently over 30,000 Bitcoin ATMs worldwide, with the majority located in the United States, Canada, and Europe.