The Benefits of a Bitcoin ATM Machine
A Bitcoin ATM is basically a kiosk that enables a consumer to buy virtual currency and in return pay with cash or credit card. Some of the more advanced models even allow for a user to pay with multiple payment methods, and exchange money as they choose. This can be particularly useful for people that hold several credit cards and want to minimize the risk of losing any of them at the same time. The most popular form of a Bitcoin ATM would be a vending machine like you'd see at most shops. In this instance the customer gets to keep the money they spent and doesn't have to worry about having a secure line of communication with the store, or dealing with salespeople or check out workers.
There are also some newer versions of the original ATM which operate using the Shape shifting technology. These ATM's are somewhat more expensive than the standard, however they also offer more security and are often a lot more reliable. In some cases traditional atms may not even accept the virtual currency, because it isn't recognized by all computers. There are still other places where the traditional ATM will work such as in hotels, restaurants, and banks. If you are looking for more information about the Benefits of a Bitcoin ATM Machine, keep reading this article.
Another advantage to using a bitcoin ATM machine is the ability to use atms in countries outside the US and others where the conventional money transfer systems don't work. Some of these places may have a local merchant account that allows for local purchases. This means that instead of waiting for the local exchange rates to change, a consumer can use their ATM to do the exchange from whatever currency is held on deposit at the ATM. This makes it very convenient and gives the consumer more options for shopping.
Some of the newer ATM's also provide a QR code feature. With a QR code the recipient can scan a code provided on the back of their ATM to gain access to their account. The recipient can then make a transaction without having to provide traditional banking information. They just need the correct wallet address printed on their ATM and the cash can be sent in the same way as any other cash transaction.
While there aren't many bitcoin ATMs available in the US, it is safe to say that the majority of European ATMs now support the use of digital currencies such as the EUR/GBP and the USD/JPY. There are also ATM's located in other country but these operate according to the rules of the companies that supply them with the machines. This is why you will find some of the newer ATMs in places offering both digital and fiat currencies.
One final advantage of using a bitcoin ATM machine is the low cost for the service. Most of these ATM's only require a one time membership fee, which then gives the user access to their special ATM terminal. These memberships can then be renewed at any time for an additional fee. This keeps the users from needing to continually pay for access to their special machines and keeps the overall operating costs of these machines very low indeed. This post: https://en.wikipedia.org/wiki/Bitcoin will help you understand the topic even better.
