The easiest way to purchase cryptocurrencies with credit cards is through a cryptocurrency ATM. A platform where you may rent processing power and earn passive money from mining up to four different cryptocurrencies simultaneously is one of the primary products of Bratislava-based KELTA. This decentralized data center facilitates cryptocurrency mining.
Even in Bratislava, you can now withdraw cash via a Bitcoin ATM.
What Is Crypto ATM?
Using a bank credit card or cash, you can purchase Bitcoin, Ethereum, and other cryptocurrencies through a cryptocurrency ATM. They can differ visually; some have the appearance of a standard ATM, while others are integrated into stands or walls.
The Slovak capital Bratislava, samorin, and Liptovsky Mikulás all have KELTA ATMs.
You might be astonished to find that, as of August 2022, over 38,000 bitcoin ATMs had already been deployed worldwide, per Coin ATM Radar. But numbers keep rising as a result of convenience. To put the growth into perspective, there were at most 5,500 ATMs in operation as of 2019.
In North America, cryptocurrency ATMs are more common. Only 1,452 of these machines are found in Europe, making up more than 87 percent of the total. This is unexpected given European traders and investors’ high level of interest in purchasing bitcoin assets and that several of their nations have already developed open-book cryptocurrency regulations.
KELTA plans to increase the number of its crypto ATMs throughout Europe, including Slovakia, in the upcoming months. They will all favor taking earnings from the KELTA mining platform.
Buying Cryptocurrency Using an ATM?
Let’s look at the fundamental guidelines for using a crypto ATM.
Install your smartphone’s digital wallets BRD, Mycelium, Jaxx Liberty, or Edge. Select the available assets you plan to acquire or sell. Remember that most ATMs allow you to buy Bitcoin, unlike KELTA, which enables you to buy and sell Bitcoin, ETH, ZEC, and LTC. A single bitcoin transaction cannot cost more than 5,000 euros. Then, open the appropriate coin’s QR code in your cryptocurrency wallet and use your device’s scanner to scan it. To finish the transaction and receive the purchased coins in the wallet, enter the card into the terminal and print the receipt.
Additionally, you can still purchase BTC from a bitcoin ATM even if you don’t have a cryptocurrency wallet. Many enable you to print a receipt with public and private keys and create a new bitcoin wallet.
Advantages Of Kelta ATM
There are various options available on the market for purchasing cryptocurrencies, however many of them have significant drawbacks:
You can purchase but not sell: Contrary to KELTA cryptocurrency ATMs, which allow you to carry out both activities, one-way exchangers are only ideal for some.
Lack of anonymity: Many cryptocurrency exchanges need their customers to complete the KYC process, which requires the customer to provide personal information and images of supporting documentation to a third party. At a cryptocurrency ATM, buying or selling coins is private.
High commissions: The fees associated with cryptocurrency ATMs are one drawback. Politico says a bitcoin ATM fee might be between 6 and 20 percent. Coinbase charges 3.99 percent on payment card transactions, and on some online marketplaces, the commission is as high as 5 percent. The KELTA cryptocurrency ATM only levies a fee of 2.1 percent.
ATMs that accept cryptocurrency save users time and maintain their privacy. These are strong arguments against ignoring ATMs marked with a BTC emblem in the future. Most likely, after your first time purchasing coins via a bitcoin ATM, you won’t use the online exchange again.