Bitcoin and blockchain have been some of the most groundbreaking discoveries in the past decade. In spite of its frequent surges and crashes, Bitcoin is not likely to go anywhere anytime soon. Savvy investors are diversifying their portfolios by investing funds in cryptos, besides traditional assets like mutual funds and real estate. While critics argue that the Bitcoin bubble will eventually burst, Bitcoin ATMs seem to be steadily coming up all across the world.
With Bitcoin’s mainstream adoption on track, more and more individuals and businesses are exploring the advantages of using Bitcoin machines. Finding a Bitcoin ATM in California or in any other state is no longer a challenge. You can use online directories to help you identify locations of such Bitcoin kiosks. You will be pleasantly surprised to find these being set up in crowded places like airports and shopping centers.
Why beginners will find Bitcoin ATMs in California appealing:
- The Bitcoin machine is nothing but a web-enabled kiosk that can transact cryptos. You can deposit cash bills to buy Bitcoins, Ethereum, Bitcoin Cash, and others. For a beginner with little knowledge of the crypto market and nuances of trading, this seems to be a safe option for investment. He can simply walk up to a kiosk and use cash to buy his first Bitcoin.
- Bitcoin ATMs facilitate blockchain-based transfers. So, when you put cash into the machine, an equivalent amount of Bitcoins or cryptos will be transferred to your online wallet. A QR code containing the digital wallet address needs to be scanned for this purpose. If you are new to cryptocurrencies and do not have a wallet yet, you can always create one at the kiosk. All transactions are instantaneous and show in the wallet once confirmed. The whole process does not take more than a few minutes.
- A Bitcoin ATM can verify user identity using different methods. The machine will probably ask for your number to provide a verification code. When transaction amounts are high, the machines can ask for some ID proof. Some ATMs even offer a palm-scanning feature.
- Creating an account on a crypto exchange in order to trade cryptos is a long-drawn process. It is both time-consuming and tedious, involving the submission of KYC documents. Instead of going through all that trouble, a newcomer keen to buy Bitcoins can simply use a crypto ATM near him. For this, he does not need to choose a reliable exchange or provide his personal details to get started. The Bitcoin teller machine works almost like a standard cash ATM, something that everyone is familiar with.
- Those who have never previously dabbled in cryptocurrencies may find exchanges less secure. This is because they need to keep their money online and trust that the exchange will take care of it. Instead, using a Bitcoin ATM seems to be a safer option for them. They know transactions are immediate and their funds will not be exposed to hacks that exchanges have previously experienced.
All these factors seem to convince crypto beginners in California that a crypto ATM is probably the best way to start buying Bitcoins. Once they feel confident about transacting cryptos, they can explore other investment methods.
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