You cannot go anywhere in the financial industry without hearing people talk about cryptocurrencies. In 2013, there were about 66 cryptocurrencies. Now, there are close to 7,000 unique cryptocurrencies. This explosion in cryptocurrency has led some to wonder if now is the best time to visit a Bitcoin ATM in Philadelphia, PA.
Cryptocurrencies are relatively new and have little regulation. The risks are high. Before opting to make a purchase at a Bitcoin ATM in Philadelphia, PA, you should think about the pros and cons.
First, you need to understand what it is you are purchasing. When you buy Bitcoin, you are purchasing decentralized digital money. This means that there is no centralized entity, such as a bank or government, controlling the currency.
Since cryptocurrency is digital, you will need a cryptocurrency wallet to buy or sell. Any transaction you make is peer to peer. This means there is no bank, credit union, or financial institution serving as a middleman between you and the receiver.
Although cryptocurrencies allow for anonymity, the transactions you make will appear on the blockchain. Cryptocurrencies have amazing investment potential. You can make quick gains, but you can also lose quickly. The cryptocurrency market is prone to speculation. The value of any currency you hold varies based on supply and demand.
You should educate yourself about cryptocurrencies before you buy. They are a new phenomenon. Scammers try to use the lack of education of others to make a quick dollar.
Find out how RockItCoin Bitcoin ATM is offering trusted and secure ATMs for cryptocurrency transactions when you visit their website.
