There is a big reason why one Bitcoin crypto coin is worth around $43,000 in early 2024, although prices can fluctuate wildly monthly due to a myriad of factors. Cryptocurrencies like Bitcoin (BTC) has so sought after that a variety of buying and selling options have arisen outside of traditional trading websites. People want to access their Bitcoin crypto holdings everywhere that it is convenient for them to do so.
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One example of this is the many Bitcoin ATMs (automated teller machines) that are springing up all over the place. While these devices do add a layer of convenience, they can also tack on a lot of fees to your transactions.
As such, it is important to find the best Bitcoin ATM provider possible. But how do you do this for your crypto and cash needs? Simple: you read this article the on top BTC ATM providers near you. In it, we will go over our shortlist of the best ATM providers available near you.
Let’s get started on the top Bitcoin ATM services of 2023 and 2024 in the United States and Canada!
What Is A Bitcoin ATM?
Before we dive into the best Bitcoin ATM providers for the U.S. and CA, it is very important to first understand what the machine is and how it differs from a traditional ATM. A Bitcoin ATM is essentially a cryptocurrency exchange.
That means that you can purchase and sell your Bitcoin at this physical location in the USA. Typically the device also comes with a cash dispenser, scanner, and computer that tracks the transaction. Some ATMs also let you exchange other cryptocurrencies or gift cards. To access a Bitcoin ATM in North America it is important for you to first get a Bitcoin wallet.
When Americans or Canadians purchase Bitcoin the price is dependent on the current crypto exchange rate. Because the ATM is connected to the computer, this rate is updated in real-time.
Bitcoin ATM Fees
The only downsides to Bitcoin ATMs are the fees that come with them. Due to regulatory costs, ATM owners need to charge large fees on transactions to run them. Sadly, these fees have remained high even as more cryptocurrencies ATM competition enters the field.
If the ATM provider is large, then economies of scale can lower the average transaction fee to 7% or 8%. However, this is cryptocurrency ATM option often only available in non-United States markets.
And if you are using an ATM in the United States, then you shouldn’t be surprised by a 15% to 20% transaction fee. Until cryptocurrency maintains a more secure legal status, you can likely expect these large BTC ATM fees to continue even with top providers. Hopefully though long-term crypto ATM fees will decrease with more competition and regulation.
The Best Bitcoin ATM Provider
To use a Bitcoin ATM you will need to be charged a percentage fee for your transaction.
As such, it is important to look for ATM providers with the best fee rates. However, as we mentioned, these rates can change from ATM to ATM. As such, convenience, usability, and versatility should also be factored into your decision when choosing a provider. To help you out we have organized a list of some of the best Bitcoin ATM providers.
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1. Coin Cloud
With over three thousand five hundred ATMs in the United States, Coin Cloud is a great option for people who don’t have cash. This is because Coin Cloud allows individuals to use debit and credit cards to purchase the many different types of cryptocurrencies available.
On top of that, they also offer some excellent promotions. For example, you can get $25 worth of free Bitcoin when you purchase $150 in Bitcoin at one of their locations. All you need to do is use the promo code CLOUDCOIN at the checkout.
2. Byte Federal
There are a lot of reasons why you should like Byte Federal for your Bitcoins ATM choice. For one thing, the ATM provider has a higher daily limit than many other providers. With Byte Federal you can convert up to $21,000 of cash to coin every day.
You also don’t need to worry about safety when handling such a big transaction. Thanks to AML and KYC security policies these machines are secure and provide instant verification. And, Bitcoin isn’t the only thing that this provider has to offer.
Byte Federal offers a staggering number of trading options. At these ATMs, you can buy or sell everything from gold to gift cards. With more options being added all the time Byte Federal is truly one of the more versatile options out there.
Finally, Byte Federal builds their fees into their rates. As such, you’re never surprised by a hidden fee.
3. Bitcoin Depot
The biggest benefit that comes with Bitcoin Depots crypto ATM is the sheer amount of locations. If you are looking for a Bitcoin ATM in the United States, then odds are you will be able to find a Bitcoin Depot.
The company operates over three thousand ATMs out of forty-five states in the USA. What’s more, the locations are easy to access and are operational twenty-four hours a day seven days a week.
Bitcoin isn’t the only type of cryptocurrency that the ATM offers either. There are dozens available, so they will probably have what you’re looking for. Because of their extensive locations, Bitcoin Depot also has excellent customer service. So, if you encounter a problem with their crypto ATM, then it can easily be addressed.
4. Coinsource
If you value your privacy heavily, then you might want to consider going with Coinsource ATMs. Coinsource promises that they will never sell any of your information to sketchy third-party buyers.
The provider is also good at identifying potential scammers that act like Coinsource before they can cause serious damage. On top of that, this cryptocurrency ATM provider also offers some pretty great low rates. But their cryptocurrency ATM fee rates can change slightly from location to location.
5. LibertyX
LibertyX Bitcoin ATM machines have a lot of locations and only around an 8% fee per transaction. It is a smart option for your BTC needs, so check which of their growing number of crypto ATM locations are near you or your business. Try this top secure crypto ATM machine if there is one near you.
The Bottom Line On The Best Bitcoin ATMs
We hope this article helped you answer the question: what is the best Bitcoins ATM provider? As you can see, there is no one answer to the question. The fact is that there are lots of good BTC ATM machine providers out there. And, as long as they are credible and have fair rates, then they are almost certainly safe. BTC ATMs are amped up and better than ever now in 2024.
Just make sure that the Bitcoin ATM services are credible and follow proper security procedures to protect your transactions. So, find a BTM today so you can get the cryptocurrency transactions that you deserve with convenience.
Crypto Conclusion
Did you enjoy this article on the top Bitcoin ATM services? If the answer is yes, then you are in the right place for the bottom line on BTC. Visit the Crypto, Investing, Finance, and Tech sections of the Bootstrap Business Blog to learn more about cryptocurrencies and BTC trading entering 2024. Cash in on crypto completely for overall financial fortunes!