Crypto currency including bitcoin is now a major part of most investment portfolios and with the advent of bitcoin ATMs it can be easier than ever to buy bitcoin, but the issue can often be finding your nearest crypto ATM. So where can you find the best crypto ATM map?
Finding the Best Crypto ATM Map
If you search online for crypto ATMs you will discover that there are several providers of crypto ATMs with between them over 3000 ATMs worldwide growing rapidly to close to 5000 it is estimated by the end of 2020. However, bring that down to a local level and you would be lucky if there was one in your local town. You will likely have to visit the nearest major city to find a bitcoin ATM.
Bitcoin ATMs are usually found in secure locations such as malls, train stations, and independent stores. So once you’ve found one it can be easy to swap your cash for bitcoin, but make sure you do check an online map of crypto ATMs to find the exact location of your nearest one before carrying wads of cash around the city in search of one.
The Advantages of Crypto ATMs
Of course, you could buy cryptocurrency online, but there are several advantages to bitcoin ATMs worth considering. First of all bitcoin ATMs are easy to use because we are already accustomed to using ATMs. You can deposit cash exchanged into cryptocurrency at one of these ATMs or withdraw cash from your cryptocurrency accounts.
Crypto currency ATMs use QR codes to identify you and your currency so it can be a fast way to exchange your cryptocurrency for cash to then spend in stores. Alternatively, you likely have to carry out several transactions to do this. Same as if you are someone who gets paid in cash and want to transact this into a crypto currency, several transactions would have to take place to do this including a trip to an ATM or bank anyway, so by going to a crypto ATM you are actually speeding up the transaction time.
How Much Does a Crypto Currency ATM Transaction Cost?
Something to consider with Crypto ATM transactions is the cost of the transaction as it should be factored into your decision. Crypto ATM providers have to utilize the banking system and their own service providers to provide the actual ATM and an individual transaction so as you would expect there is a cost to a cash to crypto transaction and vice versa.
The average buy fee from crypto ATMs is 9% and the average sell fee is around 8%. Take this into consideration when choosing which provider to use, because if you have to travel further for a better rate it may be worthwhile, as some ATM providers can charge as much as 30% per transaction. Another factor is the amount you are transacting, you tend to get a better rate the more you exchange at once, so best to make one large transaction then several small ones.