What Is a Cryptocurrency ATM?

Crypto Atm

The most convenient way to purchase cryptocurrencies using payment cards is through cryptocurrency ATMs.

The essential product of Bratislava-based KELTA, a decentralized data center that enables cryptocurrency mining, is a platform on which you can rent calculating power and earn passive income by mining up to four different cryptocurrencies simultaneously.

You can now withdraw your earnings from a cryptocurrency ATM in Bratislava.

What exactly is a Crypto ATM?

A cryptocurrency ATM is a machine that lets you purchase Bitcoin, Ethereum, and other cryptocurrencies with a bank card or cash. They can differ in appearance, sometimes resembling ATMs and others built into a stand or wall.

According to Coin ATM Radar, approximately 10,114 bitcoin ATMs are installed if you haven’t followed the cryptocurrency industry closely. However, due to convenience, the number of people continues to rise. To put the growth into perspective, the number of ATMs was not more than 5,500 units a year ago.

In North America, cryptocurrency ATMs are more common. More than 75% of these machines are in the United States and Canada, with only 2,000 in Western Europe.

This is surprising because European investors and dealers are interested in purchasing cryptocurrency assets, and many European countries have already enacted transparent cryptocurrency regulation legislation.

However, it is worth noting that this disparity will diminish over time as more cryptocurrency ATMs are installed in European countries such as Switzerland, Austria, and the United Kingdom. In addition, cryptocurrency ATMs are widespread in Central and Eastern Europe in Bratislava, Budapest, and Prague.

KELTA plans to expand its crypto ATM network in European countries, including Slovakia, in the coming months. But unfortunately, they will all be in favor of withdrawing profits from the KELTA mining platform.

How Do I Purchase Cryptocurrency Using an ATM?

Let us look at the fundamentals of using a crypto ATM on the KELTA model, which is installed in Bratislava.

Download and install the BRD, Mycelium, Jaxx Liberty, or Edge blockchain wallet on your smartphone. Choose which of the available assets you want to buy or sell. Remember that most ATMs only allow you to buy BTC, as opposed to KELTA, which will enable you to buy and sell ETH,  BTC, ZEC, and LTC. The total transaction amount cannot exceed EUR 5,000. Then, open the QR code for the required cryptocurrency in your mobile wallet and scan it with your device’s scanner. Then, insert the card into the terminal and print a receipt to complete the transaction and receive payment. the coins purchased into the wallet

Besides, you can purchase BTC at a cryptocurrency ATM even if you do not have a cryptocurrency wallet. Many can generate a new wallet and print a receipt with public and private keys for you.

The Benefits of KELTA ATMs

There are numerous ways to purchase cryptocurrencies on the market, but many of them have significant drawbacks:

You can Buy, But Not Sell:

One-way exchangers are not for everyone, unlike KELTA cryptocurrency ATMs, which can perform both operations.

Lack of Anonymity:

Many cryptocurrency exchanges require their clients to go through the KYC procedure, which requires the client to disclose personal information and send photos of documents to a third party. Using a cryptocurrency ATM to buy or sell coins is entirely anonymous.

High Commissions:

Coinbase charges 3.99 percent on payment card transactions, and some online platforms charge 5% or more. In comparison, the KELTA crypto ATM charges only 2.1%.

In addition to all the preceding, one should not overlook the primary benefit of crypto ATMs: their convenience.

“Location, location, location.” A crypto ATM should remain installed in a location where many potential investors pass. We chose Bratislava’s River Park multifunctional complex, which includes shops, restaurants, a 5-star hotel, and luxury apartments. At the same time, the location provides complete privacy: no one should be able to stand behind your back and observe what you’re doing. We’ll use the same strategy with our upcoming ATMs, locating them strategically.

Choosing locations that are exclusive and intimate while also being easily accessible,” said George Mac, CEO of KELTA.

Cryptocurrency ATMs save users time while also protecting their privacy. These are compelling reasons not to disregard ATMs with a Bitcoin icon the next time you see one. You will almost never return to the online exchange after your first experience purchasing coins through a cryptocurrency ATM.

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