what is going on it is andy here with bitefederal to give you all of your bitcoin information for those of you who may need some refreshers thank you thank you in advance first things first you're probably wondering andy what is a bitcoin atm let's get into that that's right you've probably heard the term and you're wondering indeed what is a bitcoin atm for starters a bitcoin atm is exactly what it sounds like it's a machine that works just like a regular atm but lets you exchange cash for cryptocurrencies these machines can be found in grocery stores gas stations and banks all across the u.s and yeah these machines are simple and very safe to use a brief history since 2011 1.65 billion dollars worth of bitcoin were stolen from users bitcoin atms prevent such things from happening thanks to the ability of inserting your e-wallet qr code or swiping a bitcoin debit card to take out cash all safely stored and 100 secure but you're also probably wondering andy why aren't we doing this virtually online or mining this to get a bitcoin exchange the explanation mining can be extremely time consuming and a very long process with a low potential return on investment in addition online exchanges can be slow moving and you may not get the bitcoin purchased for weeks or even longer at times bitcoin atms however are instant and you will see your crypto appear in your e-wallet before leaving a kiosk and again if you want to join the fun gas stations banks convenience stores just a couple places you may get to your local bitcoin atm if you need a little more help try the bite federal online locator to find the nearest atm to you again it's really simple all you need to bring when you find your atm is cash a government issued id like a driver's license and a qr code for your e-wallet major credit card providers are working to make it easier for you to spend bitcoin in retail shops accessing cryptocurrency means that you can make safe and secure transactions when purchasing any item so what are you waiting for bank yourself and go find a fight federal atm near you
