Using A Bitcoin ATM – How To

By | November 11, 2020
bitcoin atm kiosk tech article how to use

bitcoin atm how to use

How To Use article decrypt.co

How to Use a Bitcoin ATM or BATM. Sounds pretty simple but it conjurs visions of hackers, the dark web and a bank of PCs with Nvidia processors mining for Bitcoin.

If you spend any time on Yahoo Finance, you can see the deployments are up 85% this year, thanks in part to the coronavirus.

Bitcoin ATM installations have increased by 85% to 11,798, outpacing the previous year’s near 50% rise by a significant margin, according to data source Coin ATM Radar.

The spike demonstrates the rising popularity of bitcoin as a payment mode. The fear of getting a coronavirus infection has accelerated the growth in the broader contactless payment market this year, according to Global Trade Magazine.

In brief from Decrypt article

  • BATMs are a convenient way to buy and sell small amounts of the cryptocurrency.
  • For small transactions, they don’t require KYC, making them easier to use than setting up an account at an exchange.
  • Before transacting with a BATM you’ll need a cryptocurrency wallet, though some ATMs can set up a paper walllet for you.

How Do I Use a Bitcoin ATM?

Nice video by CoinFlip shows how to use one..

More Background

Bitcoin pioneer Bitstop has partnered with KIOSK Information Systems(KIOSK), the largest custom self-service solution provider in North America, to bring their next-generation Bitcoin ATM to market, enabling customers to easily buy and sell bitcoin and other digital currencies. KIOSK, along with their parent company Posiflex, will be featuring the new Bitstop Bitcoin ATM at the EuroCIS conference in Posiflex’s booth #C42/Hall 9.

Bitstop’s Bitcoin software platform paired with KIOSK’s industry-leading hardware sets a new standard in the Bitcoin ATM Industry, an industry that has grown from nothing five years ago to over 4,000 ATMs in 2018 (coinatmradar.com). Over 1000 Bitcoin ATMs have been installed in Europe with deployments all over Germany, Austria, Spain, Italy, Portugal, Poland and the United Kingdom. Worldwide, new deployments are happening daily.

These machines allow retailers to monetize unused floor space and drive additional foot traffic to the store. BATMs are becoming more common in typical retail storefronts such as supermarkets, malls, petrol stations, hotels & airports.

Using the BitStop BATM

Bitcoin Locations

We checked here in Denver. It’s a mining town. We see 20 different locations around us.  Oddly enough if we search Google Maps for just ATM, we also see 20 locations.

Industry Links

Related News

Bitcoin ATM Kiosk Patent News – Bitcoin Capital Group Claim

Bitcoin ATM Kiosk & Bitcoin Kiosks in Grocery Stores

Bitcoin ATM Bitcoin Kiosk News – Bitstop and KIOSK Information Systems Bitcoin ATM Partnership at NRF Big Show 2019

Author: News Editor

Kiosk manufacturer experience since 1993. Engineer for Verizon Bill Pay kiosks while at KIS in Colorado. Extensive device knowledge for printers, scanners, currency, PCI, ADA, touch screen technology, outdoor, biometrics such as fingerprint and IRIS. Runs and manages the current kiosk association, KMA. Works with U.S. Access Board on ADA and accessibility. PCI SSC participating organization. Member of National Retail Federation (NRF) and National Restaurant Association.