Bitcoin, the open-source crypto currency, has steadily risen to the top of the crypto currency chain. According to CoinDesk , Bitcoin launched “on Jan. 3, 2009, by an anonymous computer programmer (or group of programmers) under the pseudonym ‘Satoshi Nakamoto’, the Bitcoin network (with an uppercase “B”) is a peer-to-peer electronic payment system that uses a native cryptocurrency called bitcoin (lower case “b”) to transfer value over the internet or act as a store of value like gold and silver.”
“Each bitcoin is made up of 100,000,000 satoshis (the smallest units of bitcoin), making individual bitcoin divisible up to 8 decimal places. This allows people to purchase fractions of a bitcoin with as little as one U.S. dollar.”
Bitcoin has enjoyed a steady growth rate over the past few years. As of this writing, 1 Bitcoin is worth $41,316.40 USD.
For a long time people seeking to purchase Bitcoin needed to engage with a crypto exchange, where buyers and sellers meet to exchange dollars for Bitcoins. However, Bitcoin ATMs have made the process of acquiring and selling Bitcoin much more efficient and fast.
How Many Bitcoin ATMs, a non-profit organization dedicated to “bringing transparency and consistency to the world of bitcoin ATMs,” states that there are currently 42,266 Bitcoin ATMs in the United States.
Investors seeking to get into the Bitcoin market can use a Bitcoin ATM to buy and sell bitcoin.
Investopedia states that “A bitcoin ATM is not the same as an automated teller machine (ATM) that allows bank customers to physically withdraw, deposit, or transfer funds in one’s bank account. Rather, bitcoin ATMs produce blockchain-based transactions that send cryptocurrencies to the user’s digital wallet, often via the use of a QR code.”
Bitcoin ATMs allow for easy buying and selling transactions, making this hot investment more accessible to the public at large.