Using the Boinnex Bitcoin ATM is really simple.
Before explaining the how, a brief bit about the why.
Cryptocurrencies such as bitcoin and Ether are starting to be adopted more and more by mainstream users. One of the barriers to adoption has been the accessibility to people that are not tech savvy. For more adoption, there will have to be a way to access it with ease — just like traditional currencies. This is where the familiarity and ease of use of kiosks like Boinnex can help.
Buying from online exchanges can take a long time and involves different verification steps and funding though your bank account — it can also be unavailable, with some exchanges preventing new account registrations recently due to high volumes. The Boinnex Bitcoin ATM on the other hand offers a simple and frictionless experience that can take a matter of seconds and doesn’t involve any bank.
The unbanked— not so much an issue in Ireland— is also an area where cryptocurrency and Bitcoin ATMs can play a part. The world bank estimates that globally 2 billion people remain unbanked. Many of these people have access to a mobile phone and internet connection so can participate in global networks like Bitcoin and Ethereum.
Crypto are also an ideal candidate for cross-border transactions such as remittance payments. The process for remittance using a bitcoin ATM is explained here.
Finally, the instant liquidity of the kiosk appeals to many people that want to move between traditional fiat money and cryptocurrency frequently and with ease.
Now for the how!
The steps are as simple as this:
1. Select “Buy Bitcoins” or “Buy Altcoins” at the kiosk
2. Choose cash amount
3. Scan the QR code of your wallet address
4. Put the cash into the kiosk bill acceptor
5. Press buy, and you’re done!
6. Optionally, you can then receive your receipt via email or SMS
