Did you know that there are as many as 36,000 Bitcoin ATMs worldwide spread across as many as 77 countries? This just tells you how popular Bitcoin teller machines have become in recent times.
Just like standard cash ATMs, these machines help you to buy and even sell Bitcoins. There’s no need to spend time creating an account on an exchange and going through a long waiting period for it to get approved.
If you are looking for a Bitcoin ATM in North Dakota you will find one easily using an ATM locator online. It’s that simple really!
Today, Bitcoin ATMs are spotted in restaurants, airports, and neighborhood cafes. So, you don’t have to really hunt for a crypto ATM in North Dakota or any other US state. Moreover, you will find hundreds of online resources, videos, and tutorials online to learn how to use one.
What advantages will a Bitcoin ATM in North Dakota offer?
For a beginner with little knowledge about Bitcoins, a crypto ATM near me may be a good place to start your crypto journey. The biggest reason being it’s quick and less complicated than signing up on an exchange.
In exchange, you will need to provide KYC documents in keeping with its anti-money laundering protocols and Know Your Customer norms. The entire process is likely to be lengthy and tedious.
Besides, exchanges are not immune to hacks and cyber attacks. There have been instances of large amounts of crypto being stolen in the past. This grim truth may make you hesitant to transact through an exchange or brokerage platform.
The next best option is to buy online through an ATM. The instructions provided on the kiosk screen are easy-to-understand, even for a layman. There is no learning curve involved if you are already familiar with a regular cash ATM.
Moreover, the transactions remain completely private and anonymous. No one gets to know how much money you have deposited or withdrawn. This is especially useful if you plan on transacting a lot of cash.
What do you need to start buying Bitcoins in an ATM?
Just as finding a Bitcoin ATM is an easy task, using it is equally easy. You only need to carry your smartphone with you. It is advisable to download a digital wallet on your phone where you will send the Bitcoins you buy.
To use a crypto ATM, you simply have to insert cash bills in a designated place. The machine will convert this into an equivalent amount of BTC for you. The coins are then transferred to your digital wallet. The screen on the machine will display a confirmation once the coins have reached your wallet.
Scammers typically advertise products on sale on sites like Craigslist or eBay. These items are priced low to catch the attention of unsuspecting buyers. They get in touch once lured and are told to make their purchases using crypto coins. In such a situation, buyers are often asked to deposit money into a BTM and send this to the scammer’s wallet. When transactions are done, the scammers automatically disappear. You should be wary of such situations; other than that, using an ATM is perhaps more secure than an exchange.
