You can find Bitcoin ATMs worldwide. The news regularly posts about the opening of Bitcoin ATMs in Moscow, St. Petersburg, New York, Tokyo and other cities.
Why do you need Bitcoin ATMs?
Bitcoin ATMs allow you to buy Bitcoins by cash, without going online. But cryptocurrency ATMs have several drawbacks:
- Most of these ATMs only accepting fiat currencies - that means, you can deposit dollars, euros or rubles in an ATM and buy BTC with this currencies and than transfer it to your wallet. But you can't exchange BTC for rubles or dollars with the help of such ATM.
- Finding a BTC ATM near your home or office is often difficult: the government of most countries has imposed strict regulations on where to place such ATMs, and strict conditions.
- In order to use an ATM, in most cases you need to confirm your identity: in some countries this is done with the help of fingerprints, in others with an ID card. So, there is no question of any privacy.
How does a Bitcoin ATM work?
To use Bitcoin ATM, you will need:
- QR code of a bitcoin wallet. It needs to be scanned at an ATM.
- Verify your identity with a fingerprint, ID card or other means.
- Enter the amount in Bitcoins that you need. Or enter the amount in the fiat you want to spend.
- Wait for the transaction to complete.
Alternative to Bitcoin ATMs
Any Qiwi terminal can become a Bitcoin ATM for you. You can transfer money directly to the Utorg. You will have to pay a fee, but it is relatively small. By the way, Bitcoin-ATMs also charges a fee - for example, in St. Petersburg it is 1% of the amount.