As Bitcoin brings in more and more mainstream users, having convenient options for buying and selling the cryptocurrency is a must. Most people want the process to be simple and easy, just like using cash or a credit card is. You may think that Bitcoin isn’t to the point of providing this sort of convenience yet, but you would be surprised. Bitcoin ATMs have popped up across the country and offer a great way to get or sell Bitcoin on the go in Miami.
The First Bitcoin ATM
Back in 2013, a little place called Waves Coffee House became the first location to provide an ATM for Bitcoin. The day that the ATM went live, around $10,000 in Bitcoin were transacted through the machine. Today, that amount would be around $400,000 worth. While Waves is not the only location anymore to offer this technology, it showed that the need for it was out there and in time these ATMs have popped up in many states across America.
Most Bitcoin ATMs Are Cash Only
While some ATMs do take credit or debit cards for Bitcoin, in most cases the only option is cash. This also presents a higher level of security and privacy for the people who use the ATMs. Instead of being hooked up to your bank account, the ATMs are hooked up to the internet and a Bitcoin exchange. While the first machine required you to scan your ID card and your palm, that’s no longer the case with most ATMs. Instead, you often only need to punch in your phone number.
Purchasing and Selling: Using a Bitcoin ATM
Those who are looking to use a Miami Bitcoin ATM will find that there are several options. This makes it a convenient option, no matter where you are when you have a need for cryptocurrency or a need for cash. All you have to do is visit the location and scan a QR code on your phone to start a transaction. From there, the process is fairly straightforward and similar to a bank ATM. At the end of the transaction, you may have to wait a few minutes, but you will be the proud owner of Bitcoin. Simple, right?
Locating the Closest ATM
RockItCoin offers multiple Bitcoin ATMs in Miami for you to choose from. You can visit our website to find the nearest location or to find more information about Bitcoin and Bitcoin ATMS.