Lately, I have been seeing many crypto ATM that converts cash into crypto. I am having a tough time understanding the logic behind such machines. I mean, why wouldn't I just go to an exchange and buy crypto? I see no added benefit other than the rather high fees being charged.
Would like to know if any of you have used such an ATM? If so, why?
If you have never used such an ATM, under what circumstances would you consider using it?
Have you checked the exchange rate and the transaction fees for crypto ATM's? If they would offer faster transaction with lesser fees then I think it is just logical to use them instead of exchanges. Plus the fact that crypto ATM's offers convenience in getting fiat money. So with every angle considered I think crypto ATM's would be better than the traditional exchanges.
ATMs will give you convenience if you are in a hurry and would need to cash out some bitcoins. Also, if ATMs were made available in numerous locations, I think this would allow users to easily use their bitcoins at any time that they want. If I am a frequent user of bitcoins and would want to cash out daily or regularly, then I would be in favor of crypto ATMs and would always use it if it is fast and has low transaction fees.