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Disclaimer
This is not financial advice
I am not a financial advisor or fiduciary
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I may be late to the party, but I just found out about these ATM's that you can buy Bitcoin, and some other alt coins, with cash. These are advertised as nationwide in the US and are supposed to have low rates. Like with most other exchange platforms you can use a wire transfer, debit/credit card, but, these also let you use cash. The advertisement I saw was for Coinflip. Now, I have seen that you can turn your change into Bitcoin at a Coinstar kiosk but have not tried that. But this was the first actual ATM for crypto that I have seen.
My thought was, does this mean that you can truly be "bankless" as you can just find one of these ATMs and use cash to buy/sell bitcoin and never have to touch a bank to be involved in crypto? When looking at their website to find an ATM near me the closest 16 near me were buy only and the 17th was buy and sell. This buy/sell ATM was just a short 82 mile jaunt away. Now I couldn't find anything about needing to do a KYC check or what information they need, other than needing a wallet for the transfer. That might be in the videos but as of right now I have not watched them. I also have not seen whether you can transfer to another wallet that you may already have. (I might do a follow up on this at a later date. )
Now they do say that if you find a Bitcoin ATM with lower fees contact them and they will beat it. Also if their dual ATM is out of cash the fee is on them. They have a blog that they host for new, discounts and other information which I guess is kind of interesting. On their website they have YouTube tutorial videos that show you how to both buy and sell with their machines. They also have other info on what bitcoin is, wallets, a guide to buying crypto and other useful information.
I also saw that if you own a business you can opt to put one in your business to help draw traffic to your location. Now how lucrative this is I have no idea. They say they will also pay you to host one of their ATMs and again no statement on how much that payment will be. I assume you have to actually start the process to get any of this information.
Like I said earlier I might be late to this party but I did find this interesting.
Thanks for stopping by and hope you have a great day.
