Cryptocurrency ATMs: Make a Transaction as Easy as Getting a Cup of Coffee

Cryptocurrency ATMs are becoming an everyday site at coffee shops and shopping malls. CoinFlip is one company that specializes in cryptocurrency ATM machines, and they have become a leader in setting the standard for these specialty ATMs and local bitcoin options. cyptocurrency ATM machines visually appear like a traditional machine, which gives the user a comfortable interface. Any individual can buy or sell cryptocurrency at the ATM machines.

The general steps to purchasing cryptocurrency from these types of machine are similar. There is a verification for compliance reasons. In order to use the machines you will need a cryptocurrency wallet. Once you are at the machine, select the type of transaction you want. To make a purchase you would select the buy button. At this point, you need to enter in your wallet's ID or scan your wallet's QR code. Enter the amount of cryptocurrency that you would like to buy, and once the transaction is verified, the currency will be deposited in your wallet.

To sell your cryptocurrency, it is almost the reverse of the by transaction. You will need a cryptocurrency wallet. Once at the ATM, select they sell button, and enter in the amount you would like to sell. After the transaction is confirmed, you will have to go back to the ATM machine where you can collect your cash.

The cryptocurrency ATMs are not linked to any financial institution. You will not be able to transfer any funds from the machine to a traditional bank account. There are several ways to locate the ATM machines. Many of the companies, such as Coinflip, offer an app to help you locate them. The ATM machines are becoming readily available across the United States and internationally today.

CoinFlip has seen the role of the cryptocurrency ATMs becoming a viable alternative to people who choose not to use conventional financing. The company began after the CEO tried to make a transaction with another ATM machine and found the process frustrating and impossible to complete. Eventually, he completed the transaction, but he had to resort to face-to-face contact to get it done. CoinFlip stays a breast of the cryptocurrency laws, which are ever changing. In addition, they also need enough cash to support all of their machines and enough technical support to keep them viable.

The CEO of CoinFlip, Daniel Polotsky, comments on how the ATMs may require a user to register. The registration process is fairly straightforward. Individuals will need a cell phone number and a first and last name. You may need to display a piece of registered ID, which can be a driver's license or other forms of recognized official identification. The ID will be scanned or photographed by the ATM. The registration process is only acquired one time at CoinFlip machine.

When choosing a cryptocurrency ATM, you want to make sure that it buys and sells the type of currency you are using. For example, CoinFlip can do transaction with Dash, Litecoin, Komodo, Ethereum, Bitcoin, and Tron. All machines charged a transaction fee to help pay for maintenance cost so be aware of that before entering into the transaction. Some ATM machines are held by individuals, who rent the space they are located in, and it is the company's responsibility to keep updated on laws and regulations concerning cryptocurrency and ATMs.