Bitcoin ATM (BTM)

A Bitcoin ATM (BTM) is a physical kiosk or terminal that allows users to buy or sell Bitcoin and other cryptocurrencies using cash or debit/credit cards. Bitcoin ATMs are similar to traditional ATMs but instead of dispensing cash, they facilitate the exchange of fiat currency (such as USD, EUR, or others) for cryptocurrencies, and vice versa.

Here's how Bitcoin ATMs typically work:

• Identity Verification: Some Bitcoin ATMs require users to verify their identity before making transactions. This may involve providing identification documents or completing a Know Your Customer (KYC) process, depending on local regulations.
• Transaction Selection: Users can choose whether they want to buy or sell cryptocurrencies. If buying, they select the cryptocurrency they wish to purchase (e.g., Bitcoin, Ethereum, Litecoin) and enter the amount they want to buy in fiat currency.
• Payment: For purchasing cryptocurrencies, users can usually pay with cash inserted into the machine or via a debit/credit card payment. For selling cryptocurrencies, users can send their digital assets to a specified address provided by the ATM.
• Confirmation: Once the transaction is initiated and payment is made, the Bitcoin ATM verifies the transaction details and processes the exchange at the current market rate. Users may receive a printed receipt as proof of the transaction.

Bitcoin ATMs provide convenience for users who prefer to conduct cryptocurrency transactions in person and may not have access to online exchanges or prefer not to use them due to security or privacy concerns. They are commonly found in public locations such as shopping malls, convenience stores, airports, and other high-traffic areas.

It's worth noting that Bitcoin ATMs may charge fees for transactions, including exchange fees and transaction fees. These fees can vary depending on the ATM operator, location, transaction size, and other factors. Users should be aware of these fees and any applicable limits before using a Bitcoin ATM.