Bitcoin primarily emphasizes a digital economy, making some wonder how Bitcoin ATMs fit into that proposition. However, cryptocurrencies also seek to fill in the gaps in the traditional financial systems, ensuring quicker, safer, and low-cost cross-border money transfers. That is where Bitcoin ATMs come in, enabling users to buy and sell Bitcoin using fiat currencies more securely and quickly.
Although there are small disparities in how various Bitcoin ATMs function, a crypto wallet, and cash are the main requirements for using them. The machines have screens like the traditional ATMs, with prompts to guide users through buying or selling Bitcoin. Also, remember that some BTMs only let users buy Bitcoin tokens and others that support buying and selling Bitcoin.
Some experts have argued that Bitcoin ATMs would disrupt crypto exchanges like Crypto Engine, which also offer similar services. However, the increasing Bitcoin adoption means there is still plenty of room for BTM operators, crypto exchanges, and investors to make money from buying and selling Bitcoin. BTMs provide a reliable gateway to the crypto world since they do not require extensive expertise or complex access procedures.
Locating the Nearest Bitcoin ATM
There are various platforms and tools that you can use to find the nearest Bitcoin ATM to your location, including websites and mobile apps.
Websites for Locating BTMs
CoinATMRadar is one of the leading platforms requiring users to input their addresses or locations to generate a list of the nearest BTMs. Bitcoin ATMs mainly connect users to reliable crypto exchanges where they can buy and sell Bitcoins.
Therefore, the above website will also show you the current exchange rate and Bitcoin price that the listed ATMs apply. CoinATMRadar also offers customer reviews of various Bitcoin ATMs to help you choose the most suitable one in your location.
Bitcoin.com has an independent user-friendly ATM map, which you can also use to locate the nearest Bitcoin ATM. However, users must zoom in on different sections of the map to see the precise locations of Bitcoin ATMs across their regions, states, or cities. The site also offers information about the Bitcoin ATMs’ opening and closing hours and the supported crypto and fiat currencies.
CoinMap.org is another platform showing Bitcoin ATM locations worldwide. Unlike the sites mentioned earlier, CoinMap.org also provides a list of businesses that accept payments in crypto.
The above examples prove there are lots of alternatives on how to find a Bitcoin ATM near you. However, discrepancies also exist between the different BTM location websites. Thus, you might find that some BTMs that appear on a given platform are unavailable on other websites and vice versa. That means you may need to check with a few maps to locate the nearest Bitcoin ATM to your location.
Mobile Apps
CoinATMRadar is also the most popular mobile app for locating Bitcoin ATMs. It works similarly to the website, providing information on whether a given machine only supports buying Bitcoin or allows users to sell Bitcoin. It also tells users about the supported crypto and fiat currencies at the listed BTMs.
The bitmap app is another mobile app for locating Bitcoin ATMs, rapidly gaining popularity in the crypto world.
Most companies that operate Bitcoin ATMs provide maps with their BTMs’ locations via websites and mobile apps. CoinSource and atmcoiners.com are some of the BTM operators that do so. However, those services are pretty limited as they only show the locations of their companies’ Bitcoin ATMs. Nevertheless, tracking down a Bitcoin ATM near you should be easy, based on the several options discussed above.
