Did you know that an estimated 22 percent of adults in the United States of America own at least a share of Bitcoin? The popularity of Bitcoin and other forms of crypto is rising, and so is the number of businesses choosing to accept these forms of currency as payment.
Finding the best Bitcoin ATM is a big part of becoming a consistent crypto user. The best ATM will make it easy for you to purchase, sell, and trade popular forms of crypto like Litecoin, Ethereum, and Bitcoin. The hard part is deciding which crypto ATM you want to use for all your crypto transactions.
The good news is that you’ve found the right place to learn about your different crypto ATM options in 2022. Keep reading this article to learn about your options and the pros and cons of using the best crypto ATM today!
What Is a Bitcoin ATM?
A Bitcoin ATM is a machine dedicated to Bitcoin users in the same way that traditional ATMs allow people with bank accounts to access, pull out, or deposit money. These machines act as a physical cryptocurrency exchange, a significant upgrade from using an online exchange on your mobile device or computer.
This physical machine makes it simple for you to purchase, sell, and trade your Bitcoin units. Most of the best Bitcoin ATMs come with a scanner and a way for you to deposit cash into the machine in exchange for the coins of your choice.
Make sure that you have a secure Bitcoin wallet set up before you try to use a crypto ATM. You should also take some time to check out the exchange rate before converting any of your cash into crypto.
Best Bitcoin ATM Options
Now that you better understand how Bitcoin ATMs work, it’s time to look at your different options.
As time goes by, more and more businesses are purchasing Bitcoin ATMs as a way to make additional money from customers.
Remember that each transaction you make with a Bitcoin ATM will cost you a transaction fee. Therefore, shopping for your different options makes it easy to find the best deal regarding your transaction fees.
Without further ado, here is a closer look at the crypto ATMs you should consider using if you plan to switch to cryptocurrencies.
Coin Cloud
Coin Cloud is one of the most popular options for crypto users that want a convenient Bitcoin ATM. Coin Cloud operates more than 3,500 ATMs across the United States of America, making it an excellent option for people with cash that they want to convert into Bitcoin.
These ATMs are among the best because they make it easy to use a credit or debit card to purchase Bitcoin units. It also makes it easy to get other forms of crypto if you want a diverse set of cryptocurrencies in your digital wallet.
You’ll also find some enticing promotions for using their Bitcoin ATMs rather than the ATMs of the competitors. For example, it’s not uncommon for them to offer $25 of free Bitcoin if you purchase $150 or more from the ATM’s exchange.
Byte Federal
Byte Federal is another big player in crypto and Bitcoin ATMs. The more time you spend considering Bitcoin ATMs, the more you’ll like Byte Federal.
One of the things that stands out about Byte Federal is the limit they’ll allow compared to other crypto ATMs. Byte Federal makes it easy for you to convert up to $21,000 each day from cash to crypto.
Byte Federal also offers some great benefits when it comes to your security and your personal information. They have some of the best security policies to protect your money and identity when making Bitcoin transactions. In addition, you’ll get to experience instant ID verification.
It also makes it easier for you to purchase or trade forms of crypto beyond Bitcoin. You’ll find a ton of options when it comes to forms of crypto that you can buy or trade through Byte Federal, so make sure you visit here. You’ll also get transaction fees built into the price with this Bitcoin ATM option.
Bitcoin Depot
Bitcoin Depot is another option worth considering if you’re looking for a crypto ATM for your purchasing and trading needs. The best thing that Bitcoin Depot is that there are plenty of ATM locations around the country.
You’ll find more than 3,000 different ATM locations with Bitcoin Depot, spread across 45 states. The plethora of locations makes it easier than ever to convert your cash into your preferred form of crypto. They’re also open for 24 hours daily, providing a ton of convenience.
Expect exceptional customer service if you encounter any issues while using Bitcoin Depot. They’re well-known for the vast number of locations where they have ATMs and their fast, efficient customer service.
Coinsource
Another great option worth checking out if you’re looking for the best Bitcoin ATM is Coinsource. It’s the best option if your biggest concern with converting cash to crypto is your privacy.
One of the big promises that Coinsource makes is that they’ll never sell your personal information to a third party for marketing purposes. So you can rest assured your personal data is safe with them.
It’s also one of the best ATM providers for identifying scams. You’re bound to encounter scammers any time a valuable form of crypto is involved, so having that added layer of security is a big bonus for your budget.
If you’re worried about the transaction fees, you can’t go wrong with Coinsource. Of course, the costs might change from one ATM to another, but they’re often lower than the rates offered by alternative crypto ATM options.
Pros and Cons of Bitcoin ATMs
There are many benefits of using the best Bitcoin ATM, and you need to find the best ATM option near you if you want to transition to using a digital currency. Many people enjoy how convenient using the best crypto ATM is for purchasing and selling their coins.
Here’s a closer look at the benefits and drawbacks you can expect with your Bitcoin ATM experiences.
Pros of Bitcoin ATMs
One of the big things that stands out about using the best Bitcoin ATMs is that they’re easy to use. Online crypto exchanges tend to be clunky and difficult to use. These ATMs offer a viable option that gives you the steps you’ll need to take to convert your cash to crypto.
These ATMs also allow you to purchase or sell crypto without having a bank account. It’s easy to turn the cash you’ve worked so hard to earn into your preferred crypto form with these ATMs.
The speed of your transactions with the best crypto ATM will also show you that you’ve made the right choice. Many of these ATMs make transactions a breeze since all you’ll need is the cash, your photo ID, and a phone number to start converting old-school currency to new-school crypto.
Many of the best ATMs make use of QR codes to make it easy for you to ensure that your favorite coins are going directly to your digital wallet. You don’t want to make the mistake of sending thousands of dollars in crypto to a total stranger because you didn’t double-check your wallet’s address. The QR code lets you ensure that your money ends up in the right spot.
Another thing that stands out about the benefits of using the best Bitcoin ATm is that you’re at the forefront of technology by using these digital currencies. Cryptocurrency is a groundbreaking technology that you can make the most of in your daily life.
Cons of Bitcoin ATMs
The big drawback of using an ATM to get your crypto is the transaction fees you’ll almost surely encounter. It’s not unusual to experience transaction fees well into the low teens, percentage-wise. As a result, using ATMs can be far more expensive than using a traditional online crypto exchange.
It’s also difficult sometimes to get the customer support you deserve if you run into any issues with the crypto ATM you’re using. Still, it’s a great and accessible way for many people to exchange their cash for crypto.
Start Using the Best Bitcoin ATM Today
There is no better time to find and start using the best Bitcoin ATM if you’re trying to convert your hard-earned dollars into the cryptocurrency of your choice.
Byte Federal and Coin Cloud are two of the most popular options because they have many locations and offer some of the best security when completing transactions.
Be prepared for hefty transaction fees whenever you use a crypto ATM. Still, they’re a significant upgrade compared to an online crypto exchange, thanks to the security and ease of use.
Are you looking for more deep dives into the emerging world of crypto and digital currencies? Then, explore the rest of our website for more informative, entertaining, and engaging articles like this one.
