Why Buy Cryptocurrency At A Bitcoin ATM?

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Buying and selling cryptocurrency is easier than ever with the option to carry out transactions in person. RockItCoin has thousands of bitcoin ATMs in operation across the United States, and the chances are very likely that you can find one in your neighborhood. 

Cryptocurrency ATMs have become increasingly popular in recent years, offering users the opportunity to buy and sell digital currencies without having to use a centralized exchange. With these ATMs, users are able to purchase cryptocurrency quickly and securely, without having to worry about the security risks associated with trading on an exchange. This comprehensive guide will explore the advantages of buying cryptocurrency at an ATM, including convenience, speed, and security.  With this guide, users will be able to make informed decisions about how to purchase cryptocurrency and ensure that their transactions are safe and secure.

How Do ATM Purchases Compare To Other Crypto Purchases?

Crypto buyers always have options when it comes to their purchasing method. Options will vary based on the kind of coins and tokens they want to buy: buyers will typically choose between an exchange platform, a bitcoin ATM, or even an in-person exchange. 

Buyers who use exchange platforms face transaction fees, fraud, and security breaches. They are also often forced to share access to their assets, which is a major weak point for security. Sometimes exchange platforms are complicated to navigate as well, which is a big deterrent for new crypto users. Of course, buying crypto on exchange platforms leaves no opportunity for cash-based transactions

Buying crypto in person-to-person transactions allows for cash-based transactions but lacks the ability to track rapid changes in currency conversion values. Person-to-person transactions also require buyers to find sellers on their own, and of course, buying from a stranger has its security risks. The next time you plan to buy crypto, consider how crypto ATMs compare to other crypto purchasing methods. 

The biggest differences to consider are 

  • Buying at a crypto ATM allows buyers to use cash
  • Buying at an ATM gives buyers control and privacy 
  • Buying at an ATM tracks real-time market shifts to ensure that customers buy crypto at accurate market values

ATMs Allow For Cash Based Transactions 

Using a bitcoin ATM to buy or sell your bitcoin offers a unique opportunity to buy or sell in a cash-based transaction. By buying cryptocurrency at an ATM, you do not need to connect a debit card or bank to your purchase. Instead, all you need to do is bring your digital wallet so the crypto you buy gets to the proper destination, as well as the amount of cash necessary to make your purchase. 

ATMs Give  Customers Control and Privacy In Their Transactions

In centralized exchanges, users may be required to deposit their funds into an account that is controlled by a third party. Cryptocurrency ATMs, on the other hand, allow users to keep their funds in their personal wallets. This ensures that their funds remain under their control and are not susceptible to hacks or other forms of malicious activity. Paper wallets can be printed too, to better maintain the integrity of your keys. Exchange customers may not have custody of their crypto, because they don’t hold them in a wallet they personally explicitly own and control. If assets like Bitcoin or Ethereum are stored on an exchange and it goes offline or changes its terms of service, customers can lose access to their funds temporarily or in the worst case, permanently. ATMs avoid third-party platforms, and RockItCoin’s user experience prioritizes security by never storing your wallet access information.

Advantages of Buying Cryptocurrency at an ATM

There are several advantages to buying cryptocurrency at an ATM. These advantages include convenience, speed, and security. Let’s explore each of these benefits in greater detail. 

Convenience Of Buying A Crypto ATM

One of the most significant advantages associated with buying cryptocurrency at a cryptocurrency ATM is convenience. The growing popularity of crypto ATMs makes them easy to find, and often local. It is easy to imagine a future where crypto buyers and sellers are able to find crypto ATMs all over town, just like standard bank ATMs. You should know that they are also conveniently easy to use. Most everyone has used an ATM to deposit or withdraw funds to their personal bank accounts. This technology is streamlined and intuitive. If you are looking to purchase crypto, but find yourself hesitating because technology is intimidating or foreign, then you may be surprised by the convenience of a crypto ATM’s user experience. The familiar technology makes a crypto ATM more approachable than an online exchange for many new crypto investors or buyers. 

Crypto ATMs are also super convenient for their instant currency conversions. Slower transactions can cause upsets for buyers participating in a market that moves quickly. Since crypto is notoriously volatile, it can be super convenient to know where to go when urgent and timely purchase opportunities arise. Crypto ATMs’ currency conversions are reliable which is a huge benefit when opportunities to buy crypto at the best value may be just down the street. If you are traveling to another country, this currency conversion is super useful and eliminates a step from your buying process because the work is built into the machine itself. 

Once your cash is deposited, the sale is processed and the coins are sent to your wallet address. The process is simple and convenient!

Speed Of Using A Crypto ATM

Another significant advantage associated with buying cryptocurrency at a cryptocurrency ATM is speed. Centralized exchanges may require users to go through a verification process, which can take several days to complete. By contrast, cryptocurrency ATMs allow users to scan their digital wallet(s) and exchange fiat currency for cryptocurrency almost instantly. This enables users to purchase cryptocurrency quickly, particularly in situations where speed is essential. In a volatile market, fast purchases are very useful. 

Security of Using a Crypto ATM

Another significant advantage associated with buying cryptocurrency at a cryptocurrency ATM is security. In centralized exchanges, users may be required to deposit their funds into an account that is controlled by a third party. With huge assets in one place, exchange platforms can be targeted by hackers looking to steal funds and gather personal information. This negative attention can put your funds at risk, particularly in situations where the exchange has weak security or is susceptible to hackers. 

By contrast, cryptocurrency ATM users keep their funds in their personal wallets, ensuring that they remain under their control. RockItCoin customers use our mobile app to store their wallet and keys to buy and sell crypto at our bitcoin ATMs. RockItCoin prioritizes the customer’s right to privacy and security.  For example, we allow customers to print a paper wallet at our Bitcoin ATMs, which provides them with both public and private keys. This way, the customer truly owns the wallet and the crypto stored on it.ATMs

In addition to providing greater security, ATMs also offer more privacy than centralized exchanges. Centralized exchanges are able to collect users’ personal information. This can put users’ privacy at risk, particularly in situations where there is external access to the information collected by centralized exchanges. 

Finding A Crypto ATM

Now that we have explored some of the advantages of buying cryptocurrency at a cryptocurrency ATM, you can make an informed decision about your next crypto purchasing method. It is important to know how to find a nearby ATM. To begin, buyers should download a digital wallet that supports the cryptocurrencies they want to purchase. By downloading the RockItCoin Mobile App, customers can access their digital wallet any time. This will allow them to store and access their newly purchased digital assets. Once a wallet has been downloaded, buyers should use RockItCoin’s cryptocurrency ATM locator to find the nearest ATM. RockItCoin’s ATM locator allows users to search for ATMs based on their location, and filters results based on their functionality. Crypto ATMs vary in capabilities: some only support purchases and others support both purchases and sales. If you want to buy bitcoin, you should know that all RockItCoin ATMs allow you to buy bitcoin! 

Cryptocurrency ATMs have proven to be a popular and convenient way for users to purchase cryptocurrency. ATMs provide users with greater security than centralized exchanges and support many types of coins and tokens. As more and more of the population is entering the world of crypto, it only makes sense for the technology to evolve for everyday use. If you have used an ATM for your standard banking needs, you will find the transactions at a bitcoin ATM are just as convenient. Crypto is accessible to everyone through technology that is familiar, in locations that are convenient, and with security measures in place to protect your assets. RockItCoin ATMs have low minimums for purchases so whether you are looking for a small purchase to start out as a crypto owner, or purchasing tokens and coins on a regular basis, our machines should suit your needs. Find one in your neighborhood and try it out!