Across the United States, there are well over 42,250 Bitcoin ATMs. Tennessee is one of those states where these ATMs have been installed in large numbers across cities like Nashville, Memphis, and Chattanooga among others. If you are in Tennessee and are curious about cryptocurrency, you have got all that you ever wanted to easily and safely buy the currency. The ATMs dealing in different kinds of cryptocurrency are coming up in ever larger numbers and the best thing about using these ATMs to buy the different cryptocurrency units is the ease of use and security.
You just need to create an account with the ATM operating company to have your own wallet where your cryptocurrency units will be stored safely. Here are some good reasons for you to use an ATM to buy or sell cryptocurrency.
Very easy to buy and sell cryptocurrency on an ATM
The need for a Bitcoin ATM in Tennessee arose mainly to simplify buying and selling of cryptocurrency as well as to make it more mainstream. People are already used to operating ATMs for withdrawing and depositing cash and these digital currency ATMs operate on similar lines.
You just need to have an account with the Crypto ATM operator to be able to have a virtual wallet where your cryptocurrency would be stored. The account is also necessary to know your customer (KYC) compliance of the IRS (Internal Revenue Service) that monitors the functioning of these ATMs.
Ensure total security and privacy
Before the BTC ATM came into the market, investors had only the online exchanges to buy the currency. We normally associate speed and efficiency with all kinds of online transactions but the online exchanges for trading in cryptocurrency turned out to be an exception.
Due to reasons best known to those who manage these exchanges, they take at least 3-7 days to approve a transaction. Besides, the platforms are prone to security breaches making it very risky for people to share sensitive bank and personal details there. When the ATMs arrived people took to them like fish to water, as investors asked, “Is there a BTC ATM Near Me?”
Password protected transactions
Unlike in the early days of the cryptocurrency ATMs when there was no KYC compliance required, now the IRS requires every transaction on such ATMs to come under its KYC compliance. This is to prevent misuse and abuse of the ATMs by criminals to launder unaccounted cash.
Despite the KYC compliance for transactions on a cryptocurrency ATM, your privacy remains completely secure as all your transactions are password- protected and take place via your mobile phone. Compared to online exchanges where anyone can access your data, the ATMs offer the best in security and privacy. All the more reason for you to ask, “Where can I find a Bitcoin Machine Near Tennessee?”
Transactions done within a minute
When compared to the insecure and slow online exchanges for trading in cryptocurrency, a crypto ATM is lightning fast. Just like a conventional cash ATM, you can complete a transaction within a minute if not earlier.
All ATM owner/operators offer excellent customer support via phone or live online chat in case a user faces any problem while buying or selling cryptocurrency in any of their ATMs in Tennessee or elsewhere. This is a huge improvement as compared to online exchanges where your appeal for help is not attended for days if not weeks.