Reply To: Bitcoin Going Mainstream

Not really that different from a traditional ATM in that it facilitates transactions in BC. Major difference is that traditional ATMs allow you to withdraw/deposit cash whereas Bitcoin ATMs allow users to buy and sell BC using bitcoin wallets linked to one of several crypto exchanges. To buy BC (typically a fraction of a coin), you would insert cash into the ATM which would generates a QR code from your crypto wallet on your iphone which is scanned to receive the BC you have just purchased. Sales process is essentially reversed where you send BC to the exchange’s digital wallet (via the QR code provided by the ATM). Most of the newer ATMs spit out cash based on the real time price (less a small service charge). MAJOR CAVEAT: Don’t ever forget the passcode to your wallet…if so, your BC is lost until moishiach comes.