in Friuli Venezia Giulia already two devices available

In the vast cryptocurrency landscape, Bitcoin’s hegemony still remains undisputed. Created to provide a global response to the 2008 financial crisis, this cryptocurrency has become increasingly popular and widespread, year after year, attracting the attention of investors, the media and governments. One of the most recent developments in this fascinating ecosystem is the advent of Bitcoin ATMs, which have completely revolutionized the access and use of this cryptocurrency. In Friuli Venezia Giulia, there are already two. The second, opened in February this year after the one in Udine, is in Trieste. However, it is not a traditional ATM.

Brief history of Bitcoin

Bitcoin was born in 2008 by an enigmatic Satoshi Nakamoto, a pseudonym whose real name still remains unknown. It is believed that there is a group of people and not just one individual behind this project. The document with which this idea was presented was published in an online forum, where the concept of a decentralized digital currency based on blockchain technology was explained for the first time. After Bitcoin, thousands of other cryptocurrencies were born.

Over the years, its value has grown exponentially, with significant peaks and declines, but for a couple of years now its performance has continued to be extraordinary. It has attracted interest because it allows access to a decentralized system, an attractive alternative to traditional financial systems, while still guaranteeing high levels of security. Bitcoin can be bought (as well as sold and exchanged) on the best cryptocurrency trading platforms, such as Bitpanda, to name one. Today, however, it’s not just online platforms: Bitcoin ATMs, also known as cryptocurrency ATMs, are the first physical devices for Bitcoin, but they don’t work exactly like traditional ATMs.

What are Bitcoin ATMs

Bitcoin ATMs, also called BTM (Bitcoin Teller Machine) or ABM (Automated Bitcoin Machine), are similar to traditional ATMs found in banks or shopping centers but, instead of dispensing physical money in a specific currency, they allow you to buy and sell Bitcoin .

In other words, through a quick and simple procedure, it is possible to convert fiat currency into Bitcoin and vice versa, so as to access this cryptocurrency in a more immediate and practical way, even bypassing the web, where there is the risk of running into some scam .

How Bitcoin ATMs Work

Bitcoin ATMs typically operate in two main modes: buying and selling Bitcoin. To purchase Bitcoin, you need to insert cash into the ATM, which will then be converted into Bitcoin and sent to the user’s digital wallet. To sell Bitcoin, however, you can scan your digital wallet through a QR code on the ATM screen and enter the desired amount to convert into cash, which will then be dispensed by the ATM.

Bitcoin ATMs typically involve a user identity verification process, such as scanning an ID or using a mobile phone number for two-factor authentication. This is necessary to ensure regulatory compliance and, dare even more importantly, prevent the device from being misused for illicit activities such as money laundering or terrorist financing.

Bitcoin ATMs of this type are located right in Friuli, Trieste and Udine, and allow you to buy and sell bitcoins in cash with minimal commissions and advanced security measures to protect users from fraud and theft.

The Bitcoin ATM in Trieste

A contemporary alternative to traditional ATMs, the Trieste Bitcoin ATM is, like all devices of this type, an ATM different from the standard ones. To buy and sell bitcoin with cash, you don’t need a bank account or card, or even an account on a cryptocurrency exchange. All you need is a valid ID, the amount of bitcoin you want to sell or buy, and a digital wallet (or digital wallet). To use digital wallets, you need access to the Internet, although some wallets offer offline use.

The device is intuitive and designed to follow the user, step by step, through the entire process of buying and selling cryptocurrencies. To make things even easier, a YouTube video has been made available to consumers that explains how the procedure works, which involves scanning a QR code and confirming the transaction.

Bitcoin ATM: not just Bitcoin

Despite their name, Bitcoin ATMs are not only used to carry out transactions involving Bitcoin (BTC), but generally also support other cryptocurrencies. In particular, through the Trieste Bitcoin ATM it is also possible to operate on:

• Ethereum (ETH)
• Litecoin (LTC)
• Tron (TRX)
• Dash (DASH)
• Tether (USDT)
• USDC.

To complete the operations, just follow the instructions on the screen and the procedure does not present any particular difficulties. Furthermore, security is guaranteed by advanced measures designed to protect user confidentiality, as well as financial reserves. At the end of the procedure, the device issues a receipt with the address of the digital wallet used to deposit the cryptocurrency involved in the transaction.

The exchange rates, it must be said, are more competitive than online platforms and traditional exchange offices and the commissions are decidedly low, if not zero. This is why these devices are becoming so widespread, in the world and in Italy.

Diffusion and future of Bitcoin ATMs

In recent years, the number of Bitcoin ATMs has grown significantly around the world, with thousands of devices present in several countries, including Italy. Countries such as the United States, Canada, the United Kingdom and Australia already have a widespread network of Bitcoin ATMs and these devices are also spreading in emerging countries, such as India and Brazil.

Even in Italy, Bitcoin ATMs are multiplying, which is not surprising given the interest of investors in these products. After all, with these devices it is easier to access the world of cryptocurrencies and enjoy the advantages of a decentralized financial system.