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BizzAtm - Bizzcoinhub

Frequently Asked Questions About Cryptocurrency ATMs?

Frequently Asked Questions About Cryptocurrency ATMs?

Cryptocurrency ATMs are in-person locations where you can trade fiat currencies like dollars or euros, for cryptocurrencies. The variety of cryptocurrencies and fiat currencies that are possible to be exchanged rely on the ATM and the firm that is giving the ATM service.

Here are some frequently asked questions about cryptocurrency ATMs, with simple answers that can give you better insights about the functions of these ATMs: 

Are these ATMs anonymously usable?

This varies depending on the country. Usually, cryptocurrency ATMs are not entirely anonymous. They tend to be enclosed by monitoring cameras and positioned within establishments that help other purposes such as cafés. Not only that, in a few countries, but anti-money laundering also rules further require you to examine your ID to trade any currency with the ATM.

What are the advantages of using Cryptocurrency ATM over an online exchange?

One of the significant advantages of using an ATM over an online transaction is the comfort of use and the shortage of sometimes long and tiresome KYC (know your customer) measures you have to move through to set up an online cryptocurrency trade account. Not just that, but Bizz ATMs can further take cash payments which are not feasible utilising an online exchange.

How do the ATMs exchange the currency?

This depends again on the ATM being handled. ATMs accept cash and credit card; only some take one of them. When you have made a purchase, few ATMs such as the Bizz ATM will transfer the cryptocurrency straight to the address of a cryptocurrency wallet that you provide the machine.

On the other hand, many of the machines which have been issued as “Kiosks”, will give you the slip with a one-time redeemable passcode. This code can be applied on the provider’s website (for example https://coinme.com/redeem for Coinstar Kiosks powered by Coinme) to reclaim your cryptocurrency into a wallet of your choice.

Are Crypto ATMs safe?

Usually, ATMs are incredibly safe. This is because they are generally positioned in an actual business establishment, indicating that there is a clear liability for when something goes incorrect. Not just that, but there is limited profit from the ATM company scamming the consumer, with far more to obtain from giving an outstanding experience for the consumer.

What type of prices do Cryptocurrency ATMs charge?

Cryptocurrency ATMs frequently charge a flat price on the deal you are making. The price can vary anywhere from 4% to 10% and higher.  This is all made transparent to you when you are utilising the ATM to make your transaction. 

The market rate of the currency that the ATM is offering you will be displayed on the screen, as well as the price that is being charged for the transaction. You can effortlessly match the market rate provided on the screen of the ATM to the current market rate on a site like Coinbase on your phone while you are utilising the machine to assure that you are receiving a fair price.

. Acting as a cashpoint to BizzCoins, Bizz ATM will enable users to purchase and deposit their Bizz coins in exchange for fiat currency.