Mike Telvi has been a bitcoin enthusiast before the term was popular. He has witnessed all the phases of Bitcoin, which he calls important steps towards worldwide adoption – the destination at which every avid bitcoin enthusiast hopes to arrive sooner than later.
For Mike Telvi, it is a question of when, not if. Gradually, he says, we will arrive at the promised land. Before that, however, we must arrive at important key points in the process.
For him, the arrival of Bitcoin ATMs and the ease which they provide for smooth transactions, is one of these important points.
Crypto ATMs have a huge role to play in getting to the rapid adoption rate that all Bitcoin enthusiasts dream of, and below Michael Telvi provides a detailed analysis as to how and why this is so.
Before any technology can take a huge stride into wide adoption, it must inevitably fulfil lots of key criteria, the most important of which, according to Michael Telvi, is solving a key problem.
As we all know, Bitcoin and other cryptocurrencies fulfill this criteria to the fullest extent. Not only do they solve a key problem, they solve a lot of key problems. Permissionless transactions, secure transactions, alternative to inflation, among others.
But, there is also no denying, that before cryptocurrencies can be universally accepted, there remain aspects that they need to work on; problems, so to speak, that they themselves must fix, before they seek to fix other problems in our lives.
Mike Telvi explains further below:
As remarkable as cryptocurrencies are, there’s no denying that there’s a major problem that still serves as a hinderance to widespread adoption, and that is the ease of making transactions with them.
To the regular user who isn’t a cryptocurrency enthusiast, figuring out how to make use of Bitcoin on peer to peer exchange platforms might be something of a headache. We all love new technologies like Bitcoin with real value purposes, but not everyone’s willing to go through the process of figuring out how they work.
Luckily, though, with Bitcoin ATM there is a much more viable alternative that doesn’t require figuring out how peer to peer exchange platforms work or trying to ascertain how secure they are.
One of the reasons Bitcoin ATMs are such a great contribution to the cryptocurrency world, says Michael Telvi, is the fact that they are, well, conventional.
As well as we all recognize that Bitcoin and cryptocurrencies have the capacity to revolutionize the world and change the way we look at money and exchanges in general, there is no denying that there’s still a need to incorporate a little bit of conventionality to the mix.
Sure, things must change, but Mike Telvi believes that people aren’t as welcoming to change as we might think. And that is why the need arises to add a little bit of conventionality to novel technologies like Bitcoin and blockchain.
Mike Telvi believes that in Bitcoin ATMs, people can finally see something associated with Bitcoin that they are already familiar with. Everybody knows ATMs, and everybody, to a large extent, has come to regard them as safe and secure, and of course easy to use.
These are all factors that Mike Telvi believes people don’t necessarily associate with Bitcoin, thanks to some bad experiences in the past, but that people have to start associating with all cryptos if we’re ever going to achieve widespread adoption.
Other Advantages of Bitcoin ATMs
Apart from being a tool of conventionality to add a little piece of familiarity to the disruptive technology that is bitcoin, crypto ATMs have a lot more advantages to offer.
Below Mike Telvi takes us through some of the most important of these, and gives reasons why they are paramount to ensuring Bitcoin and other cryptos achieve their full potential in the near future.
1. Fast and Efficient
Bitcoin and crypto ATMs execute purchase and sales request almost instantaneously. This is in stark contrast to situations where users would normally have to wait for hours to have their transactions processed thanks to congested networks.
According to Michael Telvi, having such a drastic increase in execution time is quite valuable in reaching more people and convincing them of the efficiency of carrying out transactions with cryptocurrencies instead of conventional modes of exchange.
Using ATMs is a quite comfortable and convenient way of buying and selling. A lot of people already know this, and once they see that this convenient mode is also available when it comes to cryptocurrencies, Mike Telvi believes there’s automatically a layer of hesitation removed.
Nobody wants to go through a world of stress to perform operations when there’s a more convenient alternative. Thankfully Bitcoin ATMs offer this convenience eliminating the need to look elsewhere.
As insinuated earlier, there have been far too many cases of theft and hacking lately on online exchange and peer to peer platforms. Numerous users have lost their crypto assets, and perhaps in the process, they’ve lost their trust for cryptocurrencies entirely.
With Bitcoin ATMs, though, there is no susceptibility to hacking or any malicious threat. This safety, Mike Telvi believes, is absolutely paramount for the development of cryptocurrencies.
4. No Internet Necessity
To make use of Bitcoin ATMs, there is no need for you to have internet connection. This accessibility and convenience is another reason why Bitcoin ATMs are absolutely important.
One of the most appealing advantages of doing transactions with cryptocurrencies in general is the fact that they are perceived to be more discreet and more private than doing transactions with traditional currencies.
Thanks to certain government regulations, though, online platforms are getting more and more pressurized into collecting user data before they can carry out transactions on their platforms.
With bitcoin ATMs, however, users don’t have to supply any form of identification or submit their data in order to successfully buy or sell a significant amount of cryptocurrency.