Since the introduction of virtual currencies more than a decade ago, a lot of changes have been made to the way they are used. They are now accepted in more countries and have been used to effect some of the big money transfers. However, the introduction of Bitcoin ATMs remains one of the biggest milestones for companies involved in this industry. Companies like CoinFlip have been using the latest technology to develop these machines, and that is the reason they are found in major cities across the world. Let us look at some of the reasons these machines are popular.
Enjoy the Convenience
The fact that you can walk to a Bitcoin ATM and complete transactions without any help from third parties is one of the things that make these machines useful. As long as you can locate one, you can deposit cash and convert it into Bitcoin to use it in various ways. In similar ways, you can withdraw Bitcoin, and it will be dispensed to you in your local currency. This is a process that would give you lots of trouble if you did not have such convenience.
The Speed Is Just What You Need
If you want to send or withdraw Bitcoin fast, an ATM is what you need. You only need to complete a few simple steps at the machine, and you will be good to go. In addition to that, you will be dealing with an automated system meaning that most of the steps that would have needed human approval will be bypassed. Therefore, if you are late with a payment, you do not have to worry because all you need is to get to the nearest ATM, and you will beat the deadline. In addition to that, you can withdraw your money fast in case you want to pay for an emergency bill.
Security Is Guaranteed
One of the biggest reservations that people have always had when handling Bitcoin is security. Losing your financial data to unauthorized parties can have devastating effects. However, when you are using an ATM, you are sure that nobody has access to your information. Everything is encrypted, and you can count on the latest technology for better protection. For instance, some ATMs will give you a printed paper receipt with a QR code so that you can scan it for further use.
If you are looking for an ATM company that you can trust, you may want to try CoinFlip. CEO Daniel Polotsky says that the company has more than 1200 ATMs across the United States, and they can convert up to six cryptocurrencies including Komodo. In addition to that, they are always using the latest technology to ensure that their network gives customers the best experiences.
As for security, the CEO says that the company is always looking for ways to make transactions even safer. That is the reason they are implementing security checks that have not been used by other ATM companies. The aim is to ensure that as Bitcoin grows, CoinFlip becomes part of the story.