Nowadays, people are investing in digital crypto, and from all of them, there is a name popping out from the whole market: bitcoin. These digital coins are trending everywhere, not in one or two places all over the globe. People are going crazy and putting their money in the enormous amount on this digital coin. The reason is it will provide them with a massive profit in return. But, most commonly, sometimes they also have to face the loss too. It is not a game in which you win. Always you have also to face the loss. When it comes to buying this digital crypto, there are many ways to buy it, but most investors will say to go with a bitcoin ATM.
Bitcoin ATM is not a wrong way but not a good one. It would be best to face some disadvantages when buying or selling digital coins. There are so many things that come under this topic of disadvantages. If you are new and visiting the ATM for the first time, you must know about it. If you want to join bitcoin, you can also visit https://btcrevolution.io/about/. The below-listed points are correlated with the disadvantages of using the bitcoin ATM.
The major drawback of using the bitcoin ATM is that they have a very high fee, making it not a good option for you to go and buy digital coins from it. If you are visiting for the first time, you should know that the fee of a bitcoin ATM is so high, and it is much higher than an exchange and another platform for buying this digital crypto. So it would be great to visit another option for buying digital coins if you don’t want to trade so expensively. A standard fee charge of the bitcoin ATM is around 6.5 percent per transaction whether you buy or sell the coins.
But not all machines are the same and have equal fees. All the ATMs have different fee changes. Some ATMs are also available in some countries where you have to pay 30 percent of the transaction when you buy bitcoins from it. So it would be best if you always considered before using the bitcoin ATM, and it is best for you because no one wants to pay these higher levels of fees for buying bitcoins.
Machines are not well and reliable!
Another drawback comes in the list of disadvantages of this ATM is the machines are not so excellent and technical support is also not good. IT makes it difficult for the investor to buy the bitcoins because many ATMs can shift to another one. If you are thinking of investing in digital crypto through ATMs and coming far from your home, you see that the machine is not working. It feels terrible and wastage of time too. No one can believe the machine. What will you do if any technical error occurs and if the transaction is not done, how can you get it back? Many users have complaints filed against the machines owner companies, but the result is not good. Some cities have only a single ATM. If it is not working, how can one perform an activity on it, and it is impossible to visit another city to buy the digital tokens.
Very hard to find the bitcoin ATM!
We all know that the technology of bitcoin ATMs is growing, but there is a need for the availability of ATMs possible. Because there are not so many ATMs located in every city, the average score of the ATMs is hardly around 1731. It is tough to find out the location of the ATM because of the lack of availability. But the developers have made a solution to this, and you can find out the location. You can get it on both devices of android and iOS, and after that, you can find out the ATM near you. But it is not possible because all the ATMs are far from your home and one should have to make a long drive for that. So there is no chance to have a bitcoin ATM near your location. If it is possible, then no one knows it’s working or not. That is one of the most significant issues in the bitcoin ATM.