fiat money and vice versa.</p>\n<p>The very first Bitcoin ATM might be launched back in 2013, in Vancouver, Canadian city. At a coffee shop, to be exact. In 2020 there are already about <strong>2,500 ATMs</strong> in the U.S. The main spots are airports, rail stations, shops, and cafes.</p>\n<p>Those who want to use ATMs in their businesses must first execute a contract with the supplier. The device will then be installed by the supplier. Besides, there is an increasing number of suppliers available. These companies or individuals can provide a variety of services, such as one-way or two-way hardware, as well as client retention programs and coupons.</p>\n<p>There are several types of BTMs on the market. BTM is a Bitcoin automated teller machine that assists users in purchasing bitcoins using fiat currency. In addition, a <strong>two-way BTM is more expensive than a one-way one.</strong></p>\n<p>Despite their rising popularity, <a href=https://www.bitdegree.org/"/crypto/buy-bitcoin-btc/">
Bitcoin ATMs have received some criticism for their transaction costs. Canada and the United Kingdom have investigated Bitcoin ATM functionalities. Furthermore, the U.S. Consumer Financial Protection Bureau issued a warning to consumers concerning the exchange rates and costs.</p>\n<p>BTMs are not linked to a user's bank account, rather, they are internet-enabled platforms that allow consumers to interact with a particular exchange. </p>","level":"easy","meta_title":"What is Bitcoin ATM (BTM)? 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Terms","updated":false,"chapter":"https://assets.bitdegree.org/crypto/assets/crypto-book/chapters/crypto-101-glossary.jpg","chapter_simple":"https://assets.bitdegree.org/crypto/assets/crypto-book/chapters-simple/crypto-glossary-101.jpg","rating":100,"sections":["A","B","C","D","E","F","G","H","I","J","K","L","M","N","O","P","Q","R","S","T","U","V","W","X","Y","Z"]}],"nextSection":{"id":91,"original_id":null,"author_id":41,"translator_id":null,"title":"What is Bitcoin Dominance (BTCD)?","slug":"what-is-bitcoin-dominance-btcd","section":"B","keyword":"Bitcoin Dominance (BTCD)","status":"published","definition":"a metric used to show what share of the cryptocurrency market cap is owned by Bitcoin.","content":"<p><strong>Bitcoin Dominance (BTCD)</strong> refers to the ratio of the <a href=https://www.bitdegree.org/"https://www.bitdegree.org/crypto/buy-bitcoin-btc/">
Bitcoin (BTC)</strong></a> market capitalization within the entire cryptocurrency market.</p>\n<p>Bitcoin was the first cryptocurrency in the world. It was developed by an <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-anonymous/">anonymous person (or people) known by the pseudonym <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/who-is-satoshi-nakamoto/">Satoshi Nakamoto</strong></a> and launched in 2009. Bitcoin was the first <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-blockchain/">blockchain-based development, and its functionality is based on the <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-whitepaper/">whitepaper published prior to its launch.</p>\n<p>Bitcoin is built on the concept of <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-decentralization/">decentralization, though some international regulations have caused it to become more centralized than initially anticipated.</p>\n<p>Bitcoin is the biggest and most valuable cryptocurrency in the world by market capitalization. In recent years, Bitcoin has lost some of its dominance in the market due to the development of new cryptocurrencies and the rising popularity of <a href=https://www.bitdegree.org/"https://www.bitdegree.org/crypto/buy-ethereum-eth/">Ethereum (ETH)</strong></a>, the cryptocurrency with the second-biggest market cap at the time of writing.</p>\n<p>Bitcoin’s market share in 2013 was 94%. In comparison, by 2017, it had reduced to 85.4%, while its main market competitor ETH had a 5.7% at the time. Bitcoin’s dominance has been progressively lowering over the years. At the time of writing, it stands at 43.43%, having halved in roughly five years.</p>\n<p>Bitcoin is estimated to maintain an increasingly lower market share as new tokens and cryptocurrencies are introduced into the market, and coins using the more sustainable <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-proof-of-stake-pos/">Proof-of-Stake consensus algorithm gain more traction.</p>\n<p>However, Bitcoin still maintains influence on the cryptocurrency market. This can be seen by analyzing the charts, as any changes to the BTC price are reflected in the other cryptocurrencies, whether they are going upwards or downwards.</p>\n<p>Bitcoin’s global recognizability has led to increased accessibility to cryptocurrencies overall. Crypto, with Bitcoin at the forefront, has become an acceptable payment method in some online spaces. Software and hardware developments like <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-hot-wallet/">hot and <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-cold-wallet/">cold wallets</strong></a> have made crypto holding easy. Crypto has also been used as a method to pay wages.</p>\n<p>Each BTC transaction is recorded on the network and is publicly accessible. However, the information about the parties involved in the transaction is kept completely confidential. The only information that is accessible is the transaction amount and the addresses of the wallets used. Everything else is anonymous.</p>\n<p>The anonymity aspect has made Bitcoin very popular on the <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-dark-web/">darknet. Cryptocurrencies have been used in transactions that involve narcotics, guns, or illegal goods. Bitcoin was used as the preferred payment method on the darknet black market <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-silk-road/">Silk Road</strong></a>. This has left a dent in Bitcoin’s reputation. Despite this, crypto is becoming increasingly popular.</p>","level":"medium","meta_title":"What is Bitcoin Dominance (BTCD)? Definition & Meaning | Crypto Wiki","meta_description":"Bitcoin Dominance (BTCD) meaning: Bitcoin Dominance (BTCD) - a metric used to show what share of the cryptocurrency market cap is owned by Bitcoin.","meta_keywords":null,"language":"en","created_at":"2022-02-14T11:37:05.000000Z","updated_at":"2022-05-13T14:32:23.000000Z","preview_url":"https://www.bitdegree.org/crypto/learn/crypto-terms/what-is-bitcoin-dominance-btcd"},"prevSection":{"id":89,"original_id":null,"author_id":41,"translator_id":null,"title":"What is Bit (Computing)?","slug":"what-is-bit-computing","section":"B","keyword":"Bit (Computing)","status":"published","definition":"Bit – a basic unit of information, the smallest unit in computing.","content":"<p>In computing, a <strong>bit</strong> represents a basic unit of information. It is a contraction of the words “binary digit”. A bit represents a logical state with one of two possible values, 0 and 1.</p>\n<p>Bits can be grouped into <strong>bytes</strong>, bit multiples that are used to store data and execute commands. One byte consists of eight bits. Four bits make up a unit known as a nibble. Information is normally processed on the byte level at the minimum. One byte can store one ASCII character.</p>\n<p>A larger multiple, containing <strong>1,024 bytes</strong>, is called a kilobyte. Computers use binary math, also known as the base two system, rather than decimal math. Larger units are megabytes, containing <strong>1,048,576 bytes</strong>, and gigabytes that consist of 1,073,741,824 bytes. Some devices measure memory in terabytes or 1,099,511,627,776 bytes.</p>\n<p>For the sake of simplicity, some hard drive manufacturers use the decimal system to define the storage space of their devices. In this case, 1 megabyte is defined as equal to one million bytes.</p>","level":"easy","meta_title":"What is Bit (Computing)? Definition & Meaning | Crypto Wiki","meta_description":"Bit (Computing) meaning: Bit (Computing) - Bit – a basic unit of information, the smallest unit in computing.","meta_keywords":null,"language":"en","created_at":"2022-02-14T09:23:55.000000Z","updated_at":"2022-05-13T14:32:23.000000Z","preview_url":"https://www.bitdegree.org/crypto/learn/crypto-terms/what-is-bit-computing"},"currentChapter":"B","currentSection":"what-is-bitcoin-atm-btm","chapterTitle":"B","readingLevel":"easy"},"url":"/crypto/learn/crypto-terms/what-is-bitcoin-atm-btm","version":"cdd198d50cbe5c9c21c9329d7c096ffc"}" class="container-fluid d-flex crypto-book p-0"> Crypto Terms: Letter B
What is Bitcoin ATM (BTM)?
Bitcoin ATM (BTM) MEANING:
Bitcoin ATM (BTM) -
Bitcoin ATM is a teller machine that enables users to purchase or sell Bitcoin using fiat currency.
Let's find out Bitcoin ATM (BTM) meaning, definition in crypto,
what is Bitcoin ATM (BTM),
and all other detailed facts.
ATMs might refer to the traditional cash machines for some, and they aren’t wrong for the most part. Bitcoin ATMs work in a similar way, nonetheless, users aren’t obligated to reveal their bank account information. Instead, they are given layers of selections for exchanging Bitcoin for fiat money and vice versa.
The very first Bitcoin ATM might be launched back in 2013, in Vancouver, Canadian city. At a coffee shop, to be exact. In 2020 there are already about 2,500 ATMs in the U.S. The main spots are airports, rail stations, shops, and cafes.
Those who want to use ATMs in their businesses must first execute a contract with the supplier. The device will then be installed by the supplier. Besides, there is an increasing number of suppliers available. These companies or individuals can provide a variety of services, such as one-way or two-way hardware, as well as client retention programs and coupons.
There are several types of BTMs on the market. BTM is a Bitcoin automated teller machine that assists users in purchasing bitcoins using fiat currency. In addition, a two-way BTM is more expensive than a one-way one.
Despite their rising popularity, Bitcoin ATMs have received some criticism for their transaction costs. Canada and the United Kingdom have investigated Bitcoin ATM functionalities. Furthermore, the U.S. Consumer Financial Protection Bureau issued a warning to consumers concerning the exchange rates and costs.
BTMs are not linked to a user's bank account, rather, they are internet-enabled platforms that allow consumers to interact with a particular exchange.
