Bitcoin ATM Meaning and Definition | Define What is Bitcoin ATM

Bitcoin ATM

A Bitcoin ATM, though similar to a traditional ATM, operates entirely within the realm of cryptocurrency. These kiosks allow users to buy Bitcoin and sometimes other cryptocurrencies directly with cash. While not as widespread as traditional ATMs, Bitcoin ATMs offer a convenient way to acquire cryptocurrency without needing a bank account.

BitcoinATMs serve _as an on-ramp for new users entering the crypto world. They bridge the gap between physical cash and digital assets, making it easier for peopleto participate in the cryptocurrency ecosystem. However, fees associated with Bitcoin ATM transactions can be higher than those found on online exchanges.

More Terms:

ASIC Mining

ASIC (Application-Specific Integrated Circuit) mining is a specialized form of cryptocurrency mining that uses dedicated hardware designed for a specific algorithm. ASIC miners are far more efficient and powerful than general-purpose hardware like CPUs and GPUs, making them the dominant choice for mining popular cryptocurrencies like Bitcoin.

Affiliate Program

Crypto affiliate programs offer individuals the opportunity to earn commissions by promoting cryptocurrency products and services through referral links. These programs, such as those offered by Uphold, Binance, Eightcap, and SwissBorg, provide affiliates with commissions for referring customers to cryptocurrency platforms.

Airdrop

A crypto airdrop is a promotional strategy used by blockchain startups to distribute tokens or coins to specific wallet addresses, aiming to raise awareness and increase ownership of a new cryptocurrency.

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PlenaFinance, a leading platform in the DeFi (Decentralized Finance) space,potentially leverages Bitcoin ATMs to expand their user base. By integratingwith Bitcoin ATM providers, Plena Finance offers users a way to easily converttheir cash to crypto and participate in DeFi protocols offered by PlenaFinance.