Where can i buy bitcoin offline?

7/19/2022, 04:40 PM
Where can i buy bitcoin offline?
There are many ways to buy Bitcoin, but one of the most easiest is through Bitcoin ATMs. Bitcoin ATMs are machines that allow you to buy Bitcoin with cash. They are similar to traditional ATMs, but instead of dispending cash, they dispense Bitcoin.

I heard a new bitcoin ATM has opened in a shop quite far away. Are these ATMs trustworthy and where can i find a ATM in my town?
- Valued Reader

As of June 2022, there were 38,000 Bitcoin ATMs worldwide. More than 30,000 of these were in the United States. In Switzerland, there are also relatively many crypto ATMs. Bitcoins can be bought at hundreds of Swiss Railway SBB locations, but not sold. Kurant has installed its more than 200 ATMs. In Germany, Austria, Spain, and Greece, among other countries the number of ATMs grew exponentially until the beginning of the bear market.

There are ATMs in 77 countries and from 45 different manufacturers. The largest manufacturers of Bitcoin ATMs are Genesis Coin (15,600 ATMs), General Bytes (8,300 ATMs), or BitAccess with 6,300 ATMs. However, since the beginning of the bear market, the number of new ATMs has been declining. Similarly, the turnover at the ATMs has been declining.
You can find Bitcoin ATMs near you at CoinAtmRadar.

In the United States, it is also possible to invest in a Bitcoin ATM, or better said to install one on your own property. With purchase costs of $5,000 and monthly rental costs of $200, an ATM can quickly pay for itself ... depending on usage.
Unauthorized Bitcoin ATMs are illegal in most countries. Therefore, operators of Bitcoin ATMs must be licensed by the Federal Financial Supervisory Authority.
Calculate the payback time here.

There are two types of crypto ATMs: One-way ATMs: only allow the purchase of Bitcoin Two-way ATMs: allow the purchase and sale of Bitcoin Both types of ATMs require wallets to which the coins can be transferred. The verification is usually done by providing the ID card, driver's license or passport. buying Bitcoin anonymously is not possible in most countries, due to regulations.

Fees are charged for Bitcoin transactions. The amount is set by the operator. Consumers can find the specific rate of the desired cryptocurrency including the fees charged at the ATM. On average, the fee is 10%, which is relatively high, but the fee includes the shipping to your wallet address. And there are also ATMs for different crypto assets, like ETH oder ADA. How many of them will survive the crypto winter is of course in question.

Is it smart to use those ATMs or should i buy my coins online?
- Valued Reader

Just to be said: online, you can usually trade Bitcoin with fees of 0.2%. The largest exchange is Binance, what is a trading platform on which cryptocurrencies and derivatives can be traded. With an average trading volume of 20 billion US dollars, it is the largest cryptocurrency exchange. Other large players are crypto.com, coinbase or kraken.