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Tag: Buy Bitcoin with Cash

The best time of the .year to buy bitcoin is the second half of September The best time of the .year to buy bitcoin is the second half of September

When is the Best Time to Buy Bitcoin?

A prominent cryptocurrency market analyst by the name of CryptoBirb has expressed their viewpoint on Bitcoin.

According to him, historical data indicates that the optimal yearly moment to buy bitcoin falls at the conclusion of September.

Statistically, October and November generate the biggest returns, especially as they come after a bear market.

Find a Bitstop Location Near You to Buy Bitcoin

Numerous investors voiced their concerns over Bitcoin’s (BTC) lackluster performance in September. A significant portion had already departed the market before the summer hiatus, adhering to the adage: “Sell in May and go away.” Nonetheless, it seems that the present moment might be the ideal opportunity to reorient attention towards the broader crypto and BTC market.

A renowned expert in the cryptocurrency market, CryptoBirb, recently released a brief examination on platform X, delving into the historical performance of BTC throughout the calendar year. CryptoBirb’s analysis points to September, traditionally regarded as the least robust month, emerging as the most promising period for potential market gains. Following closely behind are the two months with the strongest statistical track record for profitability: October and November.

Adrian Zduńczyk talks about the.best time to buy bitcoin.
Adrian Zduńczyk, CMT

September is a BTC Buying Opportunity

CryptoBirb AKAAdrian Zduńczyk, CMT

As September draws its final breaths, consider it the bargain aisle for Bitcoin enthusiasts if you plan to buy bitcoin! History, the ultimate market historian, tells us that September is the misfit in the annual calendar – the lone wolf in the world of Bitcoin profitability. Now, as CryptoBirb would quip:

“The second half of September is an insanely good opportunity to buy Bitcoin.”

CryptoBirb AKAAdrian Zduńczyk, CMT

Simultaneously, the analyst humbly concedes that this thesis won’t summon the ultimate “buy the dip” moment of the week. It’s a calculated hunch, rooted in statistical wizardry, but it’s no crystal ball into Bitcoin’s future performance.

Yet, history has a peculiar penchant for rhythm, especially in the cyclic dance of the Bitcoin market. Thus, as we spin through the record books, let’s talk numbers: October and November. CryptoBirb doesn’t blink when declaring this dynamic duo as the MVPs for seizing those long positions on BTC. 🚀

Fourth Quarter of the Year: Biggest Returns for Bitcoin

To back CryptoBirb’s intriguing hypothesis, we can turn to the numbers brought forth by the data maestros at Coinglass. They’ve got an arsenal of stats covering every beat in the BTC market, from daily drumrolls to quarterly symphonies.

Now, let’s dive into the rhythm of the crypto world. Imagine each year as a groovy album: the fourth quarter (October-December) consistently drops the most profitable tracks, while the third quarter (July-September) tends to serve up the sleepy ballads. Zoom in on just this span, and it becomes clear – we’re talking about the ultimate BTC shopping spree. And guess what? We’re right in the midst of it, folks – the last few weeks of September are like the encore of a blockbuster concert if you are planning to buy bitcoin. 🎸💰

Bitcoin Quarterly Returns (%)

Best time to buy bitcoin? Check these quarterly returns.
Bitcoin quarterly returns / Source: Coinglass

Now, let’s jazz things up a bit and take a stroll through the monthly returns in the Bitcoin trading arena. As per CryptoBirb’s keen observations, September emerges as the annual “seeing red” month. It’s like that one friend who insists on wearing neon to a black-tie event.

However, in the grand chronicle of Bitcoin’s history, there were just two years – the crypto equivalent of style icons – 2015 and 2016, when September decided to tone down its drama and churned out modest profits: a mere 2.35% and a still-respectable 6.04%, respectively. It’s almost as if September was channeling its inner Wall Street for those brief moments. 📈💡

In contrast, the next two months are completely different. October has closed in the red only twice so far – in 2014 (-12.95%) and 2018 (-3.83%). November, on the other hand, has been in the red 4 times – in 2018 (-36.57%), 2019 (-17.27%), 2021 (-7.11%) and 2022 (-16.23%).

However, even though November more often generated losses, that month’s profits were historically the largest. Therefore, the penultimate month of the year is statistically the most profitable. However, more conservative investors may pay more attention to October, which produced smaller but more stable profits and rarely minimal losses.

Bitcoin Monthly Returns (%)​

Bitcoin monthly returns / Source: Coinglass

Past Performance vs. Future Results

Perusing the data constellation above, it’s safe to say that CryptoBirb’s insights are right on the money. Those waning days of September might just be the golden ticket for snagging some Bitcoin, especially if you’ve been patiently waiting for the long-term bear to exit the scene, which it did with the grand finale of 2022.

But here’s the age-old reminder: “Past performance is not indicative of future results.” Historical data is our trusty compass, shedding light on market patterns, but it’s just one star in the galaxy of financial complexity – not the North Star, mind you. In this intricate cosmos, we’ve got a constellation of factors to consider, and historical data is but one twinkling luminary.

Unveiling the Fascinating World of the Bitcoin ATM

In the ever-evolving world of finance, there’s a delightful presence that’s been quietly making its mark: Those charming Bitcoin ATMs, or BTMs for short. They’ve sprouted up in the corner store, the gas station, and even the casino. Aren’t they just the bee’s knees? But let’s put on our inquisitive hats for a moment and ponder: what’s the scoop behind these nifty contraptions?

You see, the global demand for Bitcoins and other cryptocurrencies has been on the rise. As a result, the clever minds in the cryptocurrency realm have been hard at work. For instance, they’ve been striving to seamlessly integrate this “new frontier” into our everyday lives: enter the Bitcoin ATM.

People queue at a Bitcoin ATM
Bitstop Bitcoin ATM

Picture this: Before Bitcoin ATMs entered the scene, the cryptocurrency world resembled the Wild West. Every transaction, no matter how big or small, took place through rather “unconventional” means. At Bitstop, we fondly refer to that era as the “last mile problem.” Why, you ask? Well, on the grand timeline of cryptocurrency history, this was the final frontier before it evolved into a scalable entity.

But fast forward to today, and we find ourselves in a world where people crave the ability to transfer their assets reliably and securely. Enter the era of Bitcoin ATMs, the new normal.

These remarkable crypto machines have made cryptocurrency transactions as effortless as using a standard bank ATM to withdraw or deposit cash. Say goodbye to the tedious online rigmarole and hello to a convenient and familiar way of exploring the cryptocurrency market.

Now, you might wonder, “Familiar, you say? How does it all work?” It’s a piece of cake, really, they operate in a manner reminiscent of the bank machines you’ve frequented in the past.

You verify your identity, deposit your cash into the machine, and voilà, your transaction is complete. No tricks, no convoluted processes – just a straightforward and familiar exchange. Additionally, these machines have been artfully designed to streamline the cryptocurrency transaction experience. Also, Bitcoin ATMs ensure a safe and secure, seamless process. In an age where digital currency is maturing rapidly, ATMs have proven to be an essential component of our financial landscape.

Let’s turn the pages of history for a moment, shall we? The very first cryptocurrency ATM made its debut in 2013. Then, after a journey fraught with regulatory twists and turns, 2015 welcomed some of the initial licensed vending machines to the market, including the illustrious Bitstop BTMs. The agreement was clear: legitimate Bitcoin ATMs had to adhere to the same regulations and laws as their traditional counterparts, complete with limits on withdrawals and deposits.

So, there you have it – a warm, witty, and knowledgeable glimpse into the fascinating world of Bitcoin ATMs. Hope you enjoyed the journey from the Wild West to the reliable and secure heart of our digital financial future. Courtesy of Bitstop.

How to use a Bitcoin ATM?

Thinking about getting into crypto? Using a Bitcoin ATM is the easiest way to start your first #DeFi journey. In this article, we will explain the most simple and convenient way to buy Bitcoin.

The easiest way to buy Bitcoin with cash

Most people believe that buying Bitcoin is a complicated process, which takes hours of preparation and lots of technical knowledge. However, that’s not true. Did you know there are thousands of Bitcoin ATMs across the United States where you can buy cryptocurrency with cash?

First, let’s explain how a Bitcoin ATM works.

What is a Bitcoin ATM?

A Bitcoin ATM is basically an internet-connected device that allows you to insert or withdraw cash in exchange for Bitcoins by using a digital wallet.

The machine looks just like a regular ATM and is easy to use. It verifies your identity and allows you to scan your wallet’s QR code for completing the selected transaction.

You scan your Bitcoin Wallet QR code so the Bitcoin ATM knows where to send the bitcoin. You then insert the cash and the Bitcoin ATM instantly sends the bitcoin to your wallet. Simple and safe.

Pros of using a Bitcoin ATM

Bitcoin ATMs are currently available in many countries around the world (see here Bitstop’s current location list). Most of them are concentrated in North America and Europe but we’re seeing more and more Bitcoin ATMs pop up in other regions like Australia, Chile, or New Zealand.

Now, let’s look at the pros of using a Bitcoin ATM:

  • Fast and easy transaction
  • You can buy Bitcoin instantly with cash — no need of different cryptocurrencies or pointless exchanges
  • Safe and convenient
  • Thousands of Bitstop Bitcoin ATM locations in the US
  • Instant. #Buythedip
  • Customer phone and email support
  • Bitcoin ATMs make you feel extra cool and futuristic (we swear!)

Bitcoin ATMs are perfect for buying Bitcoins locally because they are instant. You don’t have to go through the hassle of waiting days for an ACH to clear to buy from an online exchange. You get your bitcoin instantly.

What should you bring with you before using a Bitcoin ATM?

You need 4 things to start using a Bitcoin ATM.

  • Your ID
  • Cash
  • Smartphone
  • Digital Wallet for Cryptocurrency

Yes, it’s just that simple!
Your ID is needed to verify your identity. All of your Bitcoins are stored in your Crypto Wallet, right on your smartphone for easier access.

When it comes to choosing the right digital wallet for your Bitcoin, we suggest using HODL Wallet on your smartphone. All you need is to download the app from Google Store or Apple store. This wallet is very secure and easy to use.

Step-by-Step Guide: How to use a Bitcoin ATM by Bitstop

Find the nearest Bitcoin ATM

First, you need to find the Bitcoin ATM closest to you. You can check out Bitstop’s ATM locations and navigate through the map. Most of the machines are placed nearby and are typically open 24 hrs. Don’t forget to bring everything that you need for a successful transaction — your ID, smartphone, and Bitcoin wallet.

Tap “Buy Bitcoin”

You’re now in front of the Bitcoin ATM and you’re ready for your first purchase! Start by tapping the “Buy Bitcoin” button on the screen!

Enter your phone number

The next step is to write down your phone number by using the touchscreen. Then, hit “Enter”. That way Bitstop can message you a temporary SMS code, needed for the transaction.

Enter a temporary pin

You have now received a text with a temporary SMS code. Enter it on the screen and proceed.

Set up a secret PIN

Considering you’re a first-time customer, you will need to come up with a 4-digit secret PIN. Remember this code for even easier access in the future!

Scan your ID

It’s very important that all users stay safe, that’s why identity verification is a must in the crypto world. For that, you need to scan the barcode at the back of your ID by pointing it at the scanner below the screen.

Scan your Bitcoin Wallet

Next, open your Bitcoin Wallet on your smartphone and select “Receive”. Scan the Wallet’s QR Code by pointing it at the same scanner placed below the screen. That’s how the ATM makes sure that your Bitcoin is delivered to the right place, so make sure you’re giving the right information. ONLY USE YOUR OWN BITCOIN WALLET. Never send Bitcoin to someone else’s wallet directly from the Bitcoin ATM.
 

Insert Cash

You can now insert your cash. The screen will load your exchange rate. Check the information, review your purchase, and hit “Send to Wallet”.

Congrats! You did it!

You will immediately receive the desired amount of bitcoin right into your HODL wallet! There’s also a receipt that you can print for your records.

Bitstop’s transactions happen instantly. If there’s a higher demand on the Bitcoin Network, your wallet may need up to 30 minutes to show completed purchase. If there are any questions, you can always contact our customer support via email or phone.

If you’re more of a visual learner, you can also watch our step-by-step video tutorial on using Bitstop’s ATM: How to buy Bitcoin from a Bitstop Bitcoin ATM

Have fun using Bitcoin ATMs. They are one of the best ways to invest in bitcoin for beginners.

What Is a Bitcoin ATM and How Does It Work?

Bitcoin has been around for more than 13 years now and many individual and institutional investors have already secured holdings in the popular digital asset. However, the rise in BTC prices during last year has brought the attention of newcomers as well, making many people wonder if it is difficult to invest in Bitcoin and how to buy Bitcoin.

While it may initially seem overwhelming trying to figure out how to buy bitcoin, it can be done in just a few simple steps. One of the easiest ways to invest in Bitcoin for the first time is to use a Bitcoin ATM. In this article, we will explain what is a Bitcoin ATM and how does it work, as it’s one of the easiest ways to acquire Bitcoin.

Bitstop Bitcoin ATM

What Is Bitcoin?

Bitcoin is the first cryptocurrency that emerged in 2009, created by anonymous developer Satoshi Nakamoto. While it’s not the first attempt at digital money, Bitcoin is the very first successful one to be implemented in a decentralized way using a blockchain. Bitcoin relies on cryptography for its creation and has introduced blockchain technology to the world — a distributed ledger where new transactions are recorded and new bitcoins are created via “mining” using specialized computers.

There is a total supply of 21 million, the exact number of how many bitcoins there will ever be in the world. New coins are being “mined” daily, meaning many individuals around the world participate in the solving of complex mathematical issues in the Bitcoin blockchain and whenever one of them succeeds in it, they receive an award in the form of 6.25 bitcoins for their work. Due to the set supply of Bitcoin, the mining reward periodically decreases, making the crypto asset even more valuable because of its scarcity.

Bitcoin’s main purpose, as introduced by Satoshi Nakamoto in its initial release, is to become an alternative to fiat government money, which according to the BTC creator, is too dependent on authorities like banks and governments. BTC’s main instrument in achieving this is its decentralization due to the fact that not one central authority is controlling the asset, but many users across the whole world who participate in the blockchain and help to maintain its security and transparency. As a result of the gained attention after the high price Bitcoin reached in 2017, many new cryptocurrencies have emerged, following the BTC path of decentralization and offering additional use cases and utility.

How to Buy and Store Bitcoin

Bitcoin is digital and exists on a blockchain. To be able to purchase bitcoins, you first need to own a digital wallet. There are hundreds of wallets to download. We recommend HODL Wallet which is a simple minimalist bitcoin wallet which is non-custodial. You can also find a list of Bitcoin enabled wallets on bitcoin-only.com.

To keep it simple, Bitcoin works with two types of keys, a public key which is seen by everyone. It’s analogous to your bank account number which you give out to someone who needs to know where to wire you money. There 2nd key is a private one — known only to the wallet owner. This is analogous to your password to your bank account. You don’t want to give out your private key to anyone. Private keys = ownership of your bitcoin. Depending on where you want to store your private keys, offline or online, you can choose between different types of cold storage wallets or hot storage ones, like HODL Wallet, for example.

After you’ve chosen your preferred wallet, you have several options on how to buy Bitcoin. You can purchase BTC on a centralized (CEXs) or decentralized (DEXs) crypto exchange — special online platforms for crypto trading. The difference between the two types of exchanges is the third party that oversees the transactions in centralized exchanges, which is missing from DEXs. Online brokerages also offer cryptocurrencies for trading alongside other assets like stocks, ETFs, or bonds. Bitcoin remains the most liquid digital asset today, despite the many emerging competitors, that’s why most, if not all, exchanges and brokerages offer it for trading.

White glove OTC trading desks like Bitstop Private are another great way to buy bitcoin easily with great customer support. You get your own personal Bitcoin broker to walk you through the process of buying Bitcoin. Its a white-glove style high touch service.

Another way of purchasing Bitcoin is through a Bitcoin ATM. Bitcoin ATMs offer simplicity, convenience and are instant. They are a great option especially for beginners. They are one of the only ways to purchase Bitcoin with cash. Now we’ll explain what is a Bitcoin ATM and how does it work to help you decide if it’s the right method for you.

What Is a Bitcoin ATM and How Does It Work?

Having covered the basics about the first crypto, now comes the time to explain what is a Bitcoin ATM and how does it work. Similar to traditional ATMs, which allow people to withdraw cash using their debit bank card, Bitcoin ATMs are devices that allow people to purchase bitcoin using cash.

Users are able to buy bitcoin with cash. Bitcoin ATMs are always connected to the internet and Bitcoin network and when a transaction is initiated, they propagate a transaction to the Bitcoin network which sends the bitcoin to the customer bitcoin wallet that they scanned in front of the machine.

Some Bitcoin ATMs are one-way meaning they only let you buy or only let you sell Bitcoin for cash. Some Bitcoin ATMs are two-way meaning they let you buy and sell Bitcoin for cash out of the same machine.

What Is a Bitcoin ATM and How Does It Work: Step-by-Step Explanation

First you need to find a Bitcoin ATM near you. To locate the closest one to you, you can check out the locations we currently have on our website. Bitstop has thousands of locations in the US with more popping up everyday. Once you find a location, you need to register at the Bitstop ATM.

You can either register at a Bitcoin ATM in-person or you can pre-register before you get to the Bitcoin on the Bitstop website at account.stg-bitstopwebsite-testnet.kinsta.cloud/register.

Here is a simple video for how to register at the Bitcoin ATM in person:

https://www.youtube.com/watch?v=k1zZt7TrjUQ

Then you will need only four things — the amount of cash you intend to buy BTC with, your ID, a smartphone, and a digital wallet. From there the steps to what is a Bitcoin ATM and how does it work are the following:

  1. Select “Buy Bitcoin” on the Bitstop Bitcoin ATM you’ve located
  2. Enter your phone number
  3. Set up a 4-digit PIN
  4. Scan your Bitcoin Wallet QR code
  5. Insert the amount of cash you want to use to purchase bitcoins with
  6. Review the information and select “Send to your wallet”

Your purchase of bitcoins through a Bitstop ATM is complete!

Pros of using a Bitcoin ATM

  • Easy to use for beginners
  • Instant or much faster that online exchanges
  • Convenient
  • Cash to Bitcoin

Cons of using a Bitcoin ATM

  • Transaction fee is usually higher because of costs of dealing with cash and compliance

What are the reasons people use Bitcoin ATMs?

Although there are literally thousands of individual specific reasons why people buy Bitcoin from Bitcoin ATMs, you can categorize most reasons into 4 categories:

  • Investment (Long-Term)
  • Speculative (Short-Term)
  • Peer-to-peer international remittances
  • Online Payments

Where can you usually find Bitcoin ATMs?

There are over 40,000 Bitcoin ATMs world wide. Most Bitcoin ATMs can be found in the following spots in order of most common to least common:

  • Gas Stations
  • Convenience Stores
  • Shipping Centers and Strip Malls
  • Grocery Stores
  • Smoke Shops
  • Liquor Stores
  • Malls
  • Tourist Centers
  • Airports/Train Stations

Conclusion

Bitcoin ATMs are one of the easiest ways to get started making your first investment in Bitcoin. They are a great way to buy Bitcoin instantly with cash. Not all companies who provide Bitcoin ATMs are created equal. Some have better rates than others and provide better service and value than others. Bitstop is an early pioneer and reputable trusted leader in the Bitcoin ATM industry and has served hundreds of thousands of customers since 2013.