How a Bitcoin ATM System Can Benefit 30 States Already Incorporated

 

 

 

Recently I read an interesting article in regards to the bitcoin ATM network. The author makes several astute comments and then concludes that this new digital currency system may be just what the world needs. He states; "If you are not using one of these machines, you are losing out on potentially amazing rates of interest on your transactions." He goes on to say; "Think about how many people there are that don't use bitumen or gold for their ATM card balance. The number is unfathomable."

 

The author makes an excellent point but doesn't seem to get the full picture. To understand his comments you have to realize that with the recent rise in popularity of online exchanges such as Paypal, Wirex, and MasterCard, who would ever have thought that atms would be taking on a new role? While it is impossible to give a blanket figure it is safe to say that any retail business that caters to the public will eventually need to upgrade its cash drawers to include either a debit card or credit card. After all, most people will walk into a store and purchase whatever they feel like, thus the need for a merchant account. Click here to find out more about this product when you read more on this topic.

 

Many of today's ATMs accept both major credit cards and debit cards, while most online and brick-and-mortar stores only accept debit. What if you could only pay with your bitcoin atms, and you had complete control over when your transactions were processed? In other words, if you chose to pay for your purchases with your digital wallet you wouldn't have to wait around for the cashier to let you know that your transaction has been processed, and the money is on its way.

 

This is the beauty of bitcoins, and why they are becoming so popular with merchants and consumers alike. With the current economic downturn, the last thing many people want to do is stand in a long line at a bank to withdraw cash from their accounts. By removing the middle man (the bank) from the equation, bitcoins allow everyday people the ability to move money immediately. Because the transaction is completely transparent, no one except you and the person to whom you're sending the funds needs to know exactly where the money came from.

 

The convenience store may be the perfect place to start an ATM network. Since the atms are owned by a company that technically does not need to meet any federal regulations, and does not need a licensing authority or insurance, they can set up shop wherever they choose. They don't have to follow any tax codes or deal with state or local laws. In short, they can open an ATM network anywhere, but they need to choose locations where there are a significant amount of people who will use it. Click on this page for more info on this topic.

 

Not every state is waiting for its bitcoin ATM network to open, and others are not even considering it. There are some places, however, that will soon see dozens of these trendy machines installed in shopping malls and other public places. These ATM locations will enable users to withdraw cash using their credit cards, and bypass the need for bank-to-bank transfers. Many more people will be able to make purchases by going online instead of fighting through the long lines at the nearest checkout line. This will boost traffic in those areas, as more consumers will need an alternate method to get their hands on fuel and groceries.

Keep reading on https://en.wikipedia.org/wiki/History_of_bitcoin and most importantly, convert your knowledge into action, otherwise it remains a source of untapped energy as well as wasted potential.