Originally published on January 27th, 2021 – Updated on February 24th, 2021 You may have noticed that in many of the usual locations where you can find a traditional ATM, like convenience stores and gas stations, there’s another kiosk right next to the bank’s kiosk that says it is a Bitcoin ATM. But how do […]
Can I Withdraw Cash from A Bitcoin ATM?
This is one of the most popular questions that we see from users of our Bitcoin ATM kiosks. Can I withdraw my Bitcoin into cash at a Bitcoin ATM? Can I sell Bitcoin at a Bitcoin ATM, or can I only buy Bitcoin? The simple answer is YES! You can withdraw cash from a Coinsource […]
How to Explain Bitcoin to Your Parents
What do oxygen, gravity and Bitcoin have in common? You can’t see them, but they exist. On the other hand, water, airplanes and quarters are visible, so you KNOW they exist, making them far easier to both explain and understand. So how do you describe something you can’t see, much less hold in your hand? […]
What Are Stablecoins?
There are thousands of different types of cryptocurrencies available today making it nearly impossible for non-experts to keep up. Many have appeared on the scene only to fail and disappear before most people were even aware of their existence. Cryptocurrency is digital or virtual money that takes the form of tokens or virtual coins. The […]
What is a Remittance Service?
A remittance is simply a payment. Remittance services accept money on behalf of a sender, and send it to a recipient based on instructions from the sender. Bills can be paid by remittance services, and/or money can be sent to an individual. Typically remittance services accept funds via wire transfers, mail, bank drafts, checks, and […]
What’s the Difference Between Bitcoin and Bitcoin Cash?
Cryptocurrency is such a new concept in the financial technology world, and is so rapidly evolving and growing, it’s hard to keep up with what the different currencies are and how they differ from each other. Bitcoin was first created in 2009 and since then, many other cryptocurrencies have emerged and many have already failed […]
Is Bitcoin Legal?
As with most innovative new technologies, there are many misconceptions and flat out inaccuracies surrounding the digital cryptocurrency bitcoin. Many don’t really know what it is, let alone how it works or if it’s legal. Information about bitcoin is all over the internet and news media, but much of it is opinion or is just […]
What is Bitcoin?
Bitcoin is a digital type of currency, but it is not the same as other forms of digital money like credit cards, wire transfers, Paypal, or other electronic services. Those are all controlled by banks, using a “centralized” ledger that keeps track of who owns what. Each account holder is tracked in this ledger, along […]
How Can I Spend Bitcoin?
Now that you own Bitcoin, you may wonder what you can purchase or pay for with it. Here are four options for spending Bitcoin: Option 1 – Bitcoin debit cards Sign up for a bitcoin debit card service which enables you to spend your bitcoin anywhere that Visa or Mastercard is accepted. The two forms […]
Bitcoin: How, Where, and What Can I Buy?
How can I buy Bitcoin? Well, there’s several ways you can go about buying Bitcoin such as online exchanges and even through other digital currencies, but the fastest, easiest, most secure way to buy Bitcoin is by using cash at a Bitcoin ATM. Using Coinsource Bitcoin ATMs, you can buy as little as $5 worth […]
Can I Use Bitcoin to Send Money to a Person?
In addition to buying things with Bitcoin, one of its awesome uses is that you can securely send digital money to anyone who has a Bitcoin address, and the transaction fees, especially for larger transfers, are generally much less than methods like Western Union, MoneyGram, and similar providers. The fee for sending Bitcoin to someone […]
What is Bitcoin Mining?
What is Bitcoin mining? Simply put, Bitcoin mining is the process of using computers to discover, confirm, and add Bitcoin digital transaction records to the public ledger, or blockchain. Miners receive a small portion of Bitcoin for each transaction they add to the blockchain, as an incentive to mine, since it takes specialized computer hardware, […]
How Many Bitcoins Exist?
How many Bitcoins exist? It’s not unlimited! There are only 21 million Bitcoins that WILL ever exist, and this cap is predicted to be reached by around 2140. The inventor(s) of Bitcoin (pseudonym Satoshi Nakamoto) set this limit in order to establish scarcity, which increases value. Read more about why only a limited number of […]
What is a Bitcoin Worth?
What is a Bitcoin Worth? The price of Bitcoin fluctuates with trading activity and changes from day to day, hour by hour. In basic economic terms, value is determined by scarcity, utility, supply, and demand. When something is useful, or has utility, and is in rare supply (has scarcity), and people want to buy it, […]