Even if you're new to cryptocurrency, you probably realize that it's an entirely digital monetary format. Nevertheless, Bitcoin ATMs are on the rise. This may lead you to ask, how do I by Bitcoins through an ATM, when Bitcoins don't physically exist? This is a fair question, and as a leading cryptocurrency solutions provider, one we are well-equipped to answer.
However, first it's important that you understand how Bitcoin transactions work. In order to purchase Bitcoin or any cryptocurrency, you need what's called a Bitcoin wallet. (BRD Wallet or Paxful Wallet are excellent options.) A Bitcoin wallet can be used for Bitcoins or any other cryptocurrency (also known as altcoin or blockchain). It's not a physical wallet – it's a type of software that keeps track of purchases and sales, as well as transaction – or miners – fees. The wallet doesn't "store" your cryptocurrency; it merely monitors activity. This technology allows you to send and receive cryptocurrency payments.
Payments from Bitcoin wallets are made using what are called public and private "keys." No transaction can take place unless your private key matches the public key assigned to your wallet. It is critically important that you protect your private key and have backups in place, because if you lose your only key, you lose your entire cryptocurrency investment.
So – if cryptocurrency transactions are performed electronically through an electronic wallet using a virtual key, how do I buy Bitcoins through an ATM?
Buy Bitcoins Through an ATM
Once you have your cryptocurrency wallet, you can purchase Bitcoin or any other cryptocurrency through a specialized ATM. These ATM terminals conduct transactions using built-in security tools and a scanning device that allows users to input their public keys into the ATM. They are then able to buy their Bitcoin.
Bitcoin ATMs are fantastic resources for investors who wish to acquire Bitcoins and are committed to protecting their privacy. CoinFlip Bitcoin ATM terminals allow users to purchase up to $900 worth of Bitcoin with only a name and mobile phone number. Moreover, CoinFlip Bitcoin ATM terminals allow users to buy and sell their cryptocurrencies.
While Bitcoin transactions can seem overwhelming to the uninitiated, Bitcoin investment is actually a very safe, convenient, and lucrative addition to your portfolio. If you'd like more information about how you can buy Bitcoins through an ATM or where to find a Bitcoin ATM kiosk, please visit our home page.
CoinFlip offers secure and tech-forward solutions to buying and selling cryptocurrency. Connect with us via Facebook, Twitter, or Instagram.