Bitcoin is a digital currency that’s gaining popularity worldwide. Many early adopters discovered the benefits of using bitcoins. Now many companies accept payments in bitcoins. Also, many countries are considering adopting bitcoin as a regular currency. Buying bitcoins is easy; you just need access to a computer with internet access and a wallet to hold them. Using a bitcoin ATM makes buying bitcoins convenient and easy.
There are many bitcoin ATMs in Moscow, making it easy for people to buy bitcoins. You can find one at most major cities in Russia. The largest city in Russia, Moscow, has 16 bitcoin ATMs total- more than any other city in the world. Users find the convenient location of a bitcoin ATM convenient and easy to use. They can deposit cash, choose a bank account to deposit from and buy bitcoins with the cash they have. Additionally, most ATMs allow you to buy Ethereum and Litecoin as well as other cryptocurrencies.
Bitcoin ATMs charge high fees compared to other options for buying bitcoins. The high cost makes it difficult for people to afford to buy bitcoins with cash. Furthermore, only a few bitcoin ATMs support buying altcoins with cash, which limits the number of currencies people can buy with them. People also have trouble finding enough banks that accept bitcoin deposits to operate at full capacity. This limits the number of transactions that can be processed per day and limits the amount of money available for purchase at each bitcoin ATM location.
Since most users don’t know how to buy bitcoins, they end up losing money at bitcoin ATM fees. Many operators only want to sell coins; they don’t care if people understand how to use the ATM or not. This means no help sheet or information about how to use the ATM for beginners. This forces people away from using the machine and towards online exchanges where you only pay extra money for using the machine instead of an account. In extreme cases, people miss out on buying their first bitcoins due to these high fees; they arrive at the ATM only to find it’s already been taken by someone who knows what they’re doing.
Bitcoin is an exciting new technology that’s revolutionizing our way of life as soon as it becomes more accessible. However, most people don’t know how to buy bitcoins yet- which slows down its adoption. Most ATM operators only want to sell coins- which limits how many transactions people can make at each ATM location. Until governments allow for more consumer protection when using digital currencies, we’ll see slower adoption rates until things become easier to understand.
Russian Federation with bitcoin ATM List
- Chelyabinsk 1
- Glazov 1
- Izhevsk 1
- Kazan 2
- Neftekamsk 1
- Nizhny Tagil 1
- Novokuznetsk 1
- St. Petersburg 2