Before jumping an
ATM machine be sure to do your home work. An Automated Teller Machine
provides you the convenience to make quick and prompt cash
withdrawals. However, the purpose of the ATM machine does not end
there, numerous other banking transactions such as depositing money,
transfer of funds and balance inquiries and account updates are
possible via ATM machines. Since, the system saves time and reduces
delays, banks have ATMs located inside, outside or at multifarious
convenient and accessible locations such as retail stores, malls, gas
stations, perol pumps, etc.
With the ever rising
growth in technology ATM machines have under gone numerous
moderations such as
Bitcoin ATM Machines, Tranax ATM, etc.
Nowadays, people are alluring towards a Bitcoin because uses
peer-to-peer technology to operate with no central authority or
banks. This is an open source, this is completely design for public,
everybody can take part, nobody owns and operate Bitcoin.
The
Bitcoin is a very interesting concept that is gaining acceptance by
many companies on the internet like PayPal, WordPress, Reddit,
Microtronix and many others. In fact ATM machines are already on the
way to be used.
One can easily buy
or sell Bitcoins for cash. Although, Bitcoins ATMs can be very
expensive than the online transactions because its infrastructure
cost is higher- i.e, building an actual Automated Teller Machine and
the steps that are actually needed to transfer the money and
Bitcoins.
Process involved to
transfer the bitcoins. First of all you need to scan the
identification which the ATM then validates. Then the user feeds in
some cash and generates a QR code from his/her wallet. QR code
comprises a large black and white pixels. Then the user have to send
the bitcoins to presented the address.
Nowadays, Bitcoins
seems a good position because its value is increasing day-by-day.
However, this might be change in the future. Another alternative is
to invest your money on something productive like a business or you
can also invest in land or gold.
Apart from this
Bitcoins have plenty of advantages that proves it is worth taking the
time to get involved in this virtual currency.
Fast: When
you pay a cheque from another bank into your bank, the bank will
generally
hold that money for a
few
days, because it can’t trust that the funds are really available.
Similarly, international wire transfers can take a relatively long
time. Bitcoin transactions, however, are generally far faster.
Inexpensive:
Whenever you do some transactions by using credit
card, some merchants will charge a fee for a card transaction. But
the transaction fees for Bitcoins are minimal, or in some cases it
will be free.
Bitcoin
is relatively new form of currency that is just beginning to hit the
mainstream, but many people do not even understand the benefits of
Bitcoins.