MISBLOC & Bitcoin ATMs
Have you ever heard about Bitcoin ATMs?
MISBLOC (Medical Information Service with Blockchain) is a medical service ecosystem which is based on blockchain technology. MISBLOC offers a sustainable and efficient medical service ecosystem by providing reliable medical information to patients, medical institutions, and public institutions in the Big Data era.
Hi there! In today’s post, we would like to bring a blockchain-related educational article to the attention of our followers. We will explain all the essential details about the currently trending Bitcoin ATMs. Let’s learn more about these machines which are simplifying crypto transactions around the globe.
A Bitcoin ATM is a deposit and withdrawal device that allows people to buy and sell cryptocurrency, similar to traditional ATMs offered by commercial banks. You can anonymously cash in your cryptocurrencies at Bitcoin ATMs. However, there is a single disadvantage: the high transaction fee. Bitcoin ATMs support Bitcoin, Ripple, Ethereum, Bitcoin Cash, Dash, Litecoin, and several other cryptocurrencies.
Bitcoin ATMs around the world
According to CoinATMRadar’s data, the number of global Bitcoin ATMs reached 16,835 units this year, a 57.5% (9,683 units) increase from last year’s 7,152 units. The United States, Canada, and Europe account for the largest portion of all cryptocurrency ATMs in the world, followed by Hong Kong (85), Russia (53), and Columbia (46) (excluding other North American and European countries).
Bitcoin ATM Transaction Fees
Bitcoin ATMs have an average transaction fee of about 8.5% when purchasing Bitcoin and 5.5 % when selling Bitcoin for cash. Compared to online bitcoin transactions, the fee is a bit high. Unlike regular ATMs, Bitcoin ATMs typically charge a certain percentage based on the transactions rather than fixed fees. The reason for this is that Bitcoin ATMs are still being developed.
Bitcoin ATM Features
User Friendly and Convenient: Bitcoin ATMs simplify the process of exchanging complex legal currency and make it very convenient for overseas users.
Speed: The biggest advantage of Bitcoin ATMs is their fast trading speed. Unlike online purchases, you can quickly trade in about 15 seconds. On the other hand, it may take more than a day to transfer coins purchased online.
Safety: Bitcoin ATMs are safe to use because they do not involve third parties, only the machine manufacturers and users. The machines also allow anonymity, leaving no trace after the transaction.
Anonymous: Bitcoin ATMs do not require personal information to be provided. Therefore, all transactions are completely anonymous.