What Are Bitcoin ATMs?
What is Bitcoin ATM?
, which are increasingly used today and are among the investments of many people, have now started to integrate rapidly into our daily lives. Bitcoin ATMs have started to be added to
the ATMs
we see walking on the road in order to reach the crypto coins that we have often heard but were quite foreign before. In the early days, only Bitcoin was bought and sold from Bitcoin ATMs, but with the increasing transaction volume, it became possible to make transactions with altcoins from Bitcoin ATMs.
So, what are these Bitcoin ATMs?
Bitcoin ATMs are ATMs that are independent of banks, usually owned by crypto money exchanges. On its basis, they connect investors to the crypto money exchanges where investors execute buy and sell orders and help to make the transaction they want to do. One of the first questions that comes to mind will be privacy, of course. Cryptocurrencies have given us the freedom to transact anonymously, and questions such as how to stay anonymous are on all of our minds. Bitcoin ATMs work with fiat money, so they take banks out of the way. That’s why Bitcoin ATMs are the best way to buy and sell cryptocurrency anonymously. However, the establishment of ATMs by exchanges and the operation of the KYC process in crypto withdrawals remove the anonymity of transactions made at these ATMs. Some cryptocurrency circles argue that the cryptocurrency industry should not imitate traditional finance. ATMs are often used to advertise bitcoin and those exchanges. Of course, it is very advantageous to use these ATMs at the points where you do not have a bank in your travels abroad. The first Bitcoin ATM was opened in 2013 and there are now more than 10,000 Bitcoin ATMs. More than 7,000 of these Bitcoin ATMs are located in the United States. In our country, new ATMs are being opened, but the number of them is very small.