Bitcoin ATM (BTM)

The Bitcoin ATM, is an automated teller machine for Bitcoins; it is also logically called a BTM. The only difference that it has from the usual ATM aside from the currency dispensed is that it is an internet machine that permits people to purchase Bitcoins through fiat currency. The reverse is also possible: crypto traders would be able to exchange crypto tokens for hard cash through the machine.

The first BTM that had been introduced to the crypto trading industry was installed in October 29th 2013. It was done in a coffee shop in downtown Vancouver, Canada. In the United States, the first machine went online in a cigar bar in Albuquerque, New Mexico back in February 18th 2014. However, it was removed 30 days after.