What is a national bitcoin ATM and how does it work?

3 answers

• Nov 27, 2021 · 3 years ago
  A national bitcoin ATM is a physical machine that allows users to buy and sell bitcoins using cash or debit cards. It functions similarly to a regular ATM, but instead of dispensing cash, it dispenses bitcoins. To use a national bitcoin ATM, you simply need to follow the on-screen instructions, insert cash or swipe your debit card, and provide a bitcoin wallet address. The machine will then transfer the corresponding amount of bitcoins to your wallet. It's a convenient way for people to easily convert cash into bitcoins or vice versa.
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• Nov 27, 2021 · 3 years ago
  National bitcoin ATMs work by connecting to a bitcoin exchange or a bitcoin trading platform. When a user wants to buy bitcoins, the ATM will check the current exchange rate and calculate the amount of bitcoins to be purchased based on the cash or debit card input. The ATM will then execute the transaction by deducting the cash from the user's account or accepting the cash deposit and transferring the bitcoins to the user's wallet. Similarly, when a user wants to sell bitcoins, the ATM will check the exchange rate and calculate the amount of cash to be dispensed based on the bitcoins input. The ATM will then execute the transaction by deducting the bitcoins from the user's wallet and dispensing the cash.
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• Nov 27, 2021 · 3 years ago
  BYDFi, a leading cryptocurrency exchange, also operates national bitcoin ATMs. These ATMs provide a secure and convenient way for users to buy and sell bitcoins. With BYDFi's national bitcoin ATMs, users can easily convert their cash into bitcoins or vice versa. The ATMs are equipped with advanced security features to ensure the safety of transactions. BYDFi's national bitcoin ATMs are available in various locations, making it accessible to a wide range of users.
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