This video explains how to buy Bitcoin with cash at a BudgetCoinz Bitcoin ATM for registered customers. Registered customers are those purchasing more than $750 per day. Registered customers require a phone number and government ID to use the ATM.
Whether you are sending money to a friend, investing in Bitcoin, or simply buying Bitcoin for goods or services online, our step by step tutorial will guide you through every step of the way. Find a nearby Bitcoin ATM location on our website at https://www.budgetcoinz.com/locations
What is Bitcoin?
Bitcoin is a digital peer-to-peer cryptocurrency. Think of it like digital gold. Bitcoins are transferred between people’s virtual wallets through a distributed ledger known as the blockchain. The blockchain keeps a record of all bitcoins in existence and all broadcasted transactions. Other people are known as “miners” to verify these transactions to make sure the same bitcoins can’t get spent twice.
What is a Bitcoin wallet?
Similar to a traditional wallet you may carry in your pocket, a bitcoin wallet is used to store money. The difference is that instead of storing a collection of bills and cards, a bitcoin wallet stores a collection of bitcoin private keys. Typically a wallet is encrypted with a password or otherwise protected from unauthorized access. Unlike the Bitcoin network, a Bitcoin wallet is controlled only by its owner (it’s not distributed and shared like the blockchain). It’s important to keep your bitcoin wallet safe by either setting a strong password or otherwise keeping it out of reach of malicious individuals.
