You’ve done your research and decided to buy some crypto. You like Bitcoin’s potential upside. Your investment might someday fund a Super Bowl vacation with friends, a scholarship at your alma mater, or your dad’s Mustang restoration. Ready to make a purchase, you’ve seen Bitcoin ATMs around next to cash ATMs. But you think, “Can I trust Bitcoin ATMs?”
Even though you’ve seen them at several businesses with cash ATMs, you need to know more. Rest assured, you can feel just as confident using Bitcoin ATMs as you do cash ATMs. Here are some reasons why.
Bitcoin ATMs Are More Established Than Many Realize
Bitcoin ATMs may be new to many of us, but they’ve been around since the first kiosk was installed in a Vancouver, Canada, coffee shop in 2013. Today in the United States, 245 companies operate cryptocurrency ATMs. The 10 biggest companies operate 74% of the 19,000 kiosks located throughout the country. It’s a well-established business, and Coinsource is one of the largest companies in the industry.
Note that not all kiosks offer the same range of transactions. You can commonly buy Bitcoin through Bitcoin ATMs, sometimes called BTMs, but not all of them can be used to sell Bitcoin. Many Coinsource Bitcoin ATMs can buy and sell Bitcoin.
Bitcoin ATM Operators Must Follow Regulations
In the U.S, Bitcoin ATM operators must follow state and federal regulations. Non-compliant operators can, and do, get shut down. Coinsource commits to 100% regulatory compliance and invests heavily in programs and staff in support of these ongoing efforts. Every Coinsource kiosk is fully compliant with the latest Anti-Money Laundering and Know-Your-Customer regulations.
Bitcoin ATM Limits Protect You
Bitcoin ATM operators have maximum and minimum transaction limits. Think of them like speed limits–they’re in place to protect you. These limits keep shady transactions far away from the Coinsource network, and provide full compliance with the law, keeping your money safe. You can transact as little as $5 and as much as $8,500 per day using a Coinsource Bitcoin ATM.
The More You Know, the More You Trust
As the number of Bitcoin ATMs in the U.S. increases, users will find that these kiosks offer them a peace of mind that transacting with strangers directly on some peer-to-peer marketplaces can’t. If you’re looking to buy Bitcoin instantly, a Bitcoin ATM is always the way to go.
Coinsource is the world leader in Bitcoin ATMs. With a focus on compliance and ease of use, Coinsource is aiming to bring Bitcoin to the masses. Follow for blogs about Bitcoin, finance, company updates and Bitcoin ATM information!