8 reasons why investors use Bitcoin ATMs to buy or sell crypto

Here are few reasons why investors choose Bitcoin ATMs in 2022. At the end of this list, we have an interesting post from Reddit on "are Bitcoin ATMs the last bastion of privacy in the world of cryptocurrencies?".

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Bitcoin is similar to ATMs, and therefore - intuitive

Okay, so, let’s discuss this first reason.

Investors who are looking for a way to buy bitcoins for the first time will likely stick with what they know. While Bitcoin ATMs are nothing like regular ATMs, the basic interface is somewhat similar. 

The user walks up to the machine and interacts intuitively with the screen to deposit or withdraw some money. People don't want to get caught up in some problematic situations where they have to fill out bulky forms or meet strangers in dubious places or hook up a bank account for online exchange on sites that can disappear at any moment.

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investors want to put $ 20 into a machine that is similar to the machines they already know and get immediate output - their e-wallet. For this reason, Bitcoin ATMs are a great choice for Bitcoin buyers, from complete newbies to seasoned crypto veterans, simply because of their very familiar interface.

If you are looking for such a place nearby, check Bitcoin ATMs in Madrid. This list also shows their opening hours.

2. Bitcoin ATM is simple - simply useful

The ability to convert cash into Bitcoin with just a few taps on your tablet's screen is an amazing thing. People like this kind of simplicity as it doesn't take much effort to get the coins here.

I've used several different ways, and they are without question the easiest way I've ever used to get Bitcoin.

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The more the Bitcoin community around the world reduces the "friction" associated with coin procurement, the sooner we will see mainstream acceptance. Do what you can to make bitcoin more useful.

3. Bitcoin ATM is fast

Buying on online exchanges such as Coinbase, it can take up to a week, although the likes of Circle claim to offer instant purchases. Several stories have emerged that portray the subject in a different way.

If you want to avoid bank accounts, long waits, and suspicious claims made by exchanges, a Bitcoin ATM is a great place to visit. The hassle-free ATM buying is one of its greatest advantages.

4. Bitcoin ATMs are tangible

To buy Bitcoin at an ATM, you will need some kind of tangible wallet in which to store them. Some Bitcoin ATMs even offer the option to print a paper wallet and send the coins to another wallet.

(This would allow you to buy Bitcoin even if you left your phone at home, or maybe even gift Bitcoin as a gift) 

Keeping your own coins safely in your own wallet, which is under your control only, translates into better well-being. And because of their speed, they offer a very tangible peace of mind knowing you aren't waiting for your coins for 3-5 business days.

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Some operators offer promotions with 0% commission. One of today takes place today. One of the bitomats offering regular discounts is Cajero Bittcoins Madrid at Calle Oslo 53.

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5. Bitcoin ATMs as the necessary alternative to banking systems and ATMs

If you have a permanent job and a bank account with a lot of money, you can just set up an account with Coinbase or Circle and transfer money directly from your bank account to buy Bitcoin. But what if you are from a corner of the world that is underfunded or even completely bankless? 

How to get Bitcoin if you don't have a bank account? Well, a crypto ATM might just be one of the best viable options as you don't need much more than a little cash, and sometimes, a cell phone number. Thanks to Bitcoin ATMs, you can access funds even when there is no bank access.

Finally, history shows that the only healthy market possible is the one that offers an alternative. Wherever one institution takes all the control, there is injustice. For this reason, even the banking system needs an alternative - a competitor, which makes it so that both competing parties will be kept on their feet. For example, making sure that neither will go overboard by violating customer or individual rights.

6. Liquidity and convenience of Bitcoin ATMs

Being able to walk up to a machine with cash in hand and walk away seconds or minutes later with bitcoins is something that appeals to quite a lot of people - because of its instant liquidity. Waiting for days to receive coins from the exchange means that your liquid assets are "processed" for several days. Keep your assets liquid by stopping at your local Bitcoin ATM. Examples of cryptocurrency ATMs in Spain, especially Madrid, can be found on the Bitcoin ATM list.

7. Vibe

Perhaps the least important reason, but worth mentioning, is the feeling of using one such device. There is a reason why similar devices appeared in Cyberpunk 2077. They introduce a futuristic cybephunk mood. Using them indeed feels like you are suddenly transported to the futuristic cyberpunk neo-Tokyo.

8. Bitcoins provide privacy

When you buy Bitcoin on exchanges such as Circle and Coinbase, you not only inform the exchange that you are buying Bitcoin, but also inform your bank that you are spending money on Bitcoin.

If you're trying to avoid a bank scrutiny when purchasing Bitcoin, a trip to your local Bitcoin ATM can prove very useful. You'll need cash to buy bitcoins at your local ATM, and nothing is more private than cash.

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Finally, it’s a good moment to quote a topic from Reddit that explains a lot:

Is Bitcoin ATM really the only way to buy bitcoin privately and securely?

This post was removed from R / BITCOIN and I wasn't sure where else to post it so I figured it would be the best place here.

I've thought a lot about privacy in Bitcoin and looked for ways to buy without KYC.

I still think Bitcoin ATM is the only way. Sure, you can do peer2peer cash transactions, but this seems to open you to the risk of physical attack or blackmail.

Other P2P methods to buy online usually involve bank transfer that will leave a mark. Your bank may ask what the transfer was for. You can send money to a bank account which will be tagged by the AML system.

I know a lot of people use coinjoin, but that doesn't block the path 100% and you don't know who you're mixing your coins with. If you mix with contaminated coins, your coins are now contaminated, ie they can be considered dirty money one day. I've seen tweets from people who closed their CEX accounts because of this.

If the cryptocurrency you purchased is tied to someone's name (maybe from buying them on the KYC exchange), will Chainalysis detect that it was a transfer from one person to another? Or will they think your wallet is actually their wallet?

There are so many possibilities that it is hard to imagine how to do it without leaving a trace somewhere. I'm starting to think about Monero, but even if you buy them on CEX, they know you bought it there.

Are you curious where is the nearest Cajero Bitcoins Madrid? Click and review the list.

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