Faast, an instant cryptocurrency exchanger developed by Bitaccess, announced today that it has been officially integrated into all Bitcoin Teller Machines (BTMs) running Bitaccess software. Now users can use these BTMs to buy 70+ altcoins with cash, or sell them for cash on the spot.
BTMs represented a major leap forward in the evolution of cryptocurrency. Over the past few years, they have helped drive adoption by offering a seamless portal between cash and bitcoin. This was (and still is) especially valuable for people that may not otherwise be able to access cryptocurrency. Despite the major downturn in crypto prices during 2018, Bitaccess says the use of its BTMs remained steady throughout the year, with an average buy amount of $100 and sell amount of $250 since March 2018.
During this time, the Faa.st and BTM projects remained separate. But the long-term goal of Bitaccess was eventually to combine these two products into what has been built today: a complete, frictionless ecosystem for buying, selling and allocating cryptocurrency by linking the fiat and digital asset worlds together— all while cutting out centralized exchanges to the maximum extent possible.
How to Buy Altcoins with a Bitaccess BTM
- Go to https://bitaccessbtm.com to find the BTM closest to you.
- Visit a BTM, and touch the “start” button on the touch screen. Enter your cell phone number to receive a confirmation code via SMS. This code will allow you to proceed.
- On the screen, you will see a variety of options for buying and selling BTC, verifying identity (required in some jurisdictions), and a new button for altcoins. Touch the “Altcoins” button.
A menu will appear with icons of the newly added altcoins. You can also type in the coin you want using the touch keyboard on the screen.
- Select the cryptocurrency you would like to purchase.
- Show the QR code for your wallet to the BTM camera so it can read the address.
- The next screen will ask you to insert some cash.
- Confirm information on the screen, then touch the “I’m done” button.
- A confirmation screen will appear when the transaction is complete. You’ll receive a confirmation text on your phone with a link to a receipt of your transaction. This receipt will contain the date, time, fiat and crypto amounts, tx hash, and the wallet address, as well as the location of where the transaction took place.
