Do they function the same as traditional ATMs?Since the invention of Bitcoin in 2008 and the subsequent boom of the cryptocurrency industry, countless other lateral businesses and products were created to support the new asset class. Exchanges began to flourish, as well as crypto wallets, mining computers, gadgets, softwares, websites, blog sites, news, and even terms and language. There came a new way of transacting business through smart contracts, distributed technology, and the removal of third-party mediation such as banks, lawyers, agencies, and government. The duration of snail-paced manual transactions shifted to high gear and now we are riding high at dizzying speeds from localized to borderless negotiations. The one feature to come out of the crypto industry was the bitcoin ATM, otherwise known as BTM.What are BTMs?Bitcoin ATMs or BTMs, are stand-alone machines that act as internet portals where customers can buy or sell bitcoins with their cash deposits. It is similar to a conventional ATM (automated teller machine), only that it differs in services offered such that you may not deposit, withdraw, or transfer your cash funds. It is where you manage your crypto financials by buying or selling Bitcoin or other coins and tokens using your deposited cash. BTMs typically are not owned or operated by financial institutions and does not connect you as a customer to your bank account. Instead, it connects you directly to a cryptocurrency exchange through the Internet. These exchanges facilitate your buying and selling of Bitcoin and other cryptocurrencies. As such, Bitcoin ATMs function like a physical representation of a crypto exchange, buying and selling bitcoins with cash.How BTMs WorkBitcoin ATMs consist of a monitor, a quick response (QR) code scanner, bill acceptor, and a dispenser. An underlying software activates transactions for an easy, quick, and secure operation.Bitcoin ATMs function like a\u2026<\/p>","protected":false},"excerpt":{"rendered":"
Do they function the same as traditional ATMs?Since the invention of Bitcoin in 2008 and the subsequent boom of the cryptocurrency industry, countless other lateral businesses [\u2026]<\/span><\/p>","protected":false},"author":0,"featured_media":2796,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/afluxcoin.com\/fr\/wp-json\/wp\/v2\/posts\/2808"}],"collection":[{"href":"https:\/\/afluxcoin.com\/fr\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/afluxcoin.com\/fr\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/afluxcoin.com\/fr\/wp-json\/wp\/v2\/comments?post=2808"}],"version-history":[{"count":0,"href":"https:\/\/afluxcoin.com\/fr\/wp-json\/wp\/v2\/posts\/2808\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/afluxcoin.com\/fr\/wp-json\/"}],"wp:attachment":[{"href":"https:\/\/afluxcoin.com\/fr\/wp-json\/wp\/v2\/media?parent=2808"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/afluxcoin.com\/fr\/wp-json\/wp\/v2\/categories?post=2808"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/afluxcoin.com\/fr\/wp-json\/wp\/v2\/tags?post=2808"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}