Bitcoin's popularity is surpassed only by its notoriety. While many people are aware of cryptocurrency in general and Bitcoin in particular, fewer people realize that it's becoming a very common method of payment, and it may be a safer and more secure investment strategy than many traditional assets. Nevertheless, acquiring Bitcoin can be tricky, since there aren't many ways to do it (if you're new to the Bitcoin phenomenon). You can buy and sell Bitcoin through online exchanges, or via Bitcoin ATM.
What's' a Bitcoin Exchange?
Bitcoin exchanges are online resources where investors buy and sell Bitcoin, or trade for other cryptocurrencies or fiat currencies. You transact with an online exchange using your computer or mobile device. It can be done without leaving your home and on your timeline, although the transfer can experience delays of sometimes several days.
The drawback to online exchanges is that investors sacrifice much of their privacy. Exchanges require financial information and the investor's identity in order to complete the transaction.
Bitcoin ATMs offer numerous advantages that online exchanges do not. Firstly – and to some, most importantly – transactions can be completed in cash. This allows the buyer or seller to conduct their business secure in the knowledge that their identity is protected, and they did not have to divulge any of their sensitive information (one-time identity verification is required for transactions over $900). Secondly, Bitcoin ATM transactions tend to be much faster than exchanges; the purchase is completed with the Bitcoins appearing in the customer's wallet within a few minutes. Unfortunately, Bitcoin ATMs might not be convenient to your location.
Whichever resource is best for you depends upon your lifestyle – if you want to guard your privacy, then locating the most convenient Bitcoin ATM may be a viable solution. If there aren’t any Bitcoin ATMs near your home or workplace, an online exchange could be your best option. (However, CoinFlip offers the option to purchase cryptocurrency on the Coinflip website using a third-party credit and debit card processor.)
Where to Buy Bitcoin in the USA
CoinFlip offers nearly 200 Bitcoin ATM terminals throughout the USA where customers can conduct their transactions in cash, protecting their privacy and security. For our locations, please visit our home page to find the kiosk nearest you.