As Bitcoin values continue to soar during the pandemic, more and more millennials have started to test the crypto waters. The first-ever Bitcoin machine may have been installed in Vancouver eight years back, but its popularity hasn’t waned.
The main reason behind this may have been because of the newness of it. Being able to transact something, apparently-complex like cryptos, in a matter of minutes can be appealing. Even though these machines are taking steep transfer fees, people find them convenient and less tedious than buying Bitcoin through exchanges.
Bitcoin myths that need to be explained:
One of the biggest arguments critics use against crypto is that it is used only for illicit activities. People believe that Bitcoin is primarily used for money-laundering purposes by criminals all over the world. Everyone knows of the Dark Web where you can illegally buy arms and drugs. The truth is Bitcoins use a transparent public ledger; the blockchain. Every user is provided with public and private keys to access his funds and traces of transactions are there for all to see. Now, criminals won’t definitely want to leave traces of their dealings behind, would they?
Another common concern voiced by critics is that BTC will eventually be replaced by other cryptos. Bitcoin grew out of the need to find an alternative currency to fiat currency controlled by governments and centralized banks. It remains a decentralized digital currency that hasn’t yet been hacked. Even if new cryptos were to come about, there is only one Bitcoin with its distinct network of users. And that’s not going to change anytime soon.
People also tend to think of Bitcoin as a bubble. This view is gradually changing as they are waking up to the fact that its value is growing and it’s consolidating its market position. It has come to be recognized as a trusted store of value, especially at a time when the pandemic crippled economies and assets worldwide.
With these myths debunked, it is only natural that more crypto enthusiasts will be keen to look for an ATM to buy online. They don’t mind paying a higher price for transfers long as they get to experience new technology. The very thought of being able to conduct immediate transfers is exhilarating.
If you are a resident of Illinois State, drive down to the nearest Bitcoin ATM in Illinois near you to enjoy this experience. All you need are a smartphone and digital wallet to get started.
Bitcoin ATMs are completely safe because the volume of transactions remains visible only to you and the machine, no one else can access this. You can get the transactions completed in only a few minutes time and the process is hassle-free. It’s similar to withdrawing cash bills from a regular cash ATM.
The only thing to remember is not all Bitcoin ATMs are two-way machines; you may not be able to convert Bitcoins into cash in some of them. So, research well before driving down to an Illinois Bitcoin ATM. And Keep your private keys private at all times; if anyone gets his hand on this code, he can access your money!