One of the most talked about Cryptocurrencies is Bitcoin. Recently, Bitcoin has been all over the news. The concept of digital money is not extremely elusive because we live in a digital era, and the majority of transactions today are cashless. What may come as a surprise to some; however, is that there are Cryptocurrency ATMs located throughout cities in the United States and in many other countries in the world.
Cryptocurrency ATMs
Cryptocurrency ATMs facilitate the purchase of digital currencies with cash and bank cards. Some machines are also equipped to enable Bitcoin holders to transact the sale of digital currencies. While a Cryptocurrency ATM looks exactly the same as a traditional ATM machine, it differs in operation in that it does not access a bank account, instead it connects to a digital currency exchange service. This service allows the real time exchange of digital currencies and other financial equities. In the early days of trading digital currencies, Cryptocurrency ATMs were difficult to use so Daniel Polotsky the CEO of Coinflip, decided that it would be easier to bring buyers and sellers of Cryptocurrency together so that they could trade Bitcoins face to face. Sometime later, he had an even brighter idea had that would move Bitcoin transactions from corner store coffee shops and usher it into the 20th century.
Coinflip ATMs
In the early days of implementing his chain of Cryptocurrency ATMs, Daniel Polotsky ran into a few hurdles. Such as, banking regulations and cash flow shortages. Think about it, stocking multiple ATMs with enough cash to make them viable takes a lot of resources, especially when you are not bank rolled by investors and the money is coming straight out of your own pocket.
Mr. Polotsky’s ATMs have greatly increased the convenience to trade in Bitcoins. Therefore, he expects to see his sales steadily increase and he’s certainly on his way with over 300 machines located throughout the United States. He believes that many Americans who are currently overlooked by the banking system, since they do not qualify for a bank account, would benefit from his bitcoin ATMs. Mr. Polotsky’s Cryptocurrency ATMs are one of the few that accepts cash in addition to bank cards therefore, allowing the user to purchase and sell digital currencies without the use of a bank card.
Investing in Cryptocurrency Made Easy
Bitcoin trading is no longer just for techies and computer literates. Coinflip’s Cryptocurrency ATMs are accessible throughout the United States and they are designed to be user friendly. So, the Cryptocurrency trading process is no longer a mystery and the regular Joe can consider becoming a Bitcoins investor.
For Entrepreneurs considering investing in their own Cryptocurrency ATMs, some words of advice are that they need to be prepared for the upfront investment of large sums of cash to sufficiently stock the ATM. Also, the banking industry is constantly evolving to keep up with the times, so it’s vitally imparative to stay abreast of the many banking regulations current and past to ensure that you stay on the right side of the law. Cryptocurrency trading is on the rise and a few smart business investors will jump on this opportunity and help change banking as we know it today.
