Coin Cloud Reviews: What Is It and How Does It Work

Just like any booming industry, lots of ancillary businesses pop up to support that industry after a product is launched. And the world of cryptocurrency is not an exception. From media sites to digital exchanges and wallets, Bitcoin and other digital currencies have influenced the business world drastically.

However, one of the developments at came out of this craze is the introduction of Bitcoin ATMs. Although many companies provide such services, Cloud Coin is one leading in this area. With more than 650 locations in the US alone, Coin Cloud has the largest 2-way Bitcoin ATM network worldwide.

WHAT IS CLOUD COIN?

Perhaps, the biggest company that boasts of 2-way digital currency machines is Cloud Coin. They provide the simplest method when you need to buy and exchange Bitcoin or other digital currencies. With more than 650 locations in the US, Coin Cloud is one of the fastest-growing networks of Bitcoin ATMs worldwide.

Similar to the ATMs that you find around, Bitcoin ATMs are unique portals through which users can engage themselves in financial transactions. However, there is little difference between these two types. A traditional ATM allows you to deposit or withdraw cash.

But a Bitcoin ATM allows you to buy and sell Bitcoin by using cash. An interesting aspect about these ATMs is that they don’t allow users to sell cryptocurrencies or even Bitcoin. These were common issues with the early versions and could be found in most machines today.

Coin Cloud, on the other hand, allows users to sell Bitcoin. With Coin Cloud ATMs, users can buy Bitcoin by using their cash. Also, they can sell Bitcoin in exchange for cash securely and safely. These ATMs come with a QR scanner, monitor, bill dispenser, and bill acceptor.

These components are connected through software so that you can buy and sell Bitcoin securely, easily, and quickly. Unlike traditional ATMs, Bitcoin ATMs aren’t connected to bank accounts. Rather, they are directly connected to cryptocurrency exchange through the internet.

With the help of these exchanges, you can buy and sell Bitcoin in no time. Coin Cloud installed its first Bitcoin ATM at Waves Coffee Shop in Canada in 2013. While the machine is no more in that area, it inspired many companies to produce Bitcoin ATMs.

HOW DO COIN CLOUD BITCOIN ATMS WORK?

When you need to buy and/or sell Bitcoin by using a Con Cloud Bitcoin ATM, the procedure can be broken into two simple steps.

  1. VERIFYING USER IDENTITY

Whenever anyone comes to a Bitcoin ATM, they have to verify their identity. While the process is straightforward, it is done in many ways depending on the type of machine you are using. When it comes to Coin Cloud ATMs, you need to insert your mobile phone number into the machine.

After that, wait for a few seconds until you receive a verification code on your mobile phone. You would receive the code in the form of a text message and you have to enter the same into the ATM. After successful verification, you can continue the transaction.

  1. DECIDING ON WHETHER TO BUY OR SELL

When you have logged into your account, you have to decide whether to buy or sell Bitcoin. When it is about buying Bitcoin, you have to feed cash into the machine. Next, you have to generate a QR code from your cryptocurrency wallet. The code generated on your mobile phone is scanned to receive the purchased Bitcoin.

When you need to sell Bitcoin, you have to send the same from your cryptocurrency wallet to the QR code as displayed by the Bitcoin ATM. It depends on the functionality of the machine as to what follows next.

Some machines may take a bit of time to process the transaction while others dispense cash immediately. Still, the overall procedures are quicker when compared to online exchanges. Coin Cloud makes buying and selling cryptocurrencies and Bitcoin easy and quick for their users.

BENEFITS OF USING COIN CLOUD BITCOIN ATMS:

  1. EASE OF USE

There is no denying that most online exchanges tend to make their users wait for a few days to weeks when verifying transactions. But the trades that you make with Coin Cloud Bitcoin machines take less time. In short, the transactions are almost instant. The best part is that users who are willing to sell their Bitcoin can reserve cash at the ATM ahead of time simply by using the Coin Cloud Wallet App. Now, that’s something you don’t get to see often.

  1. SECURITY

Another remarkable feature of Coin Cloud is that users have the liberty to choose the digital wallet they like most. Coin Cloud Bitcoin ATMs support all kinds of secure wallets. To get complete peace of mind, it is recommended to use Coin Cloud Bitcoin Wallet free of cost. You can find it both in the Play Store and App Store. The app is tailored to give you the best experience when making transactions in Coin Cloud Bitcoin ATMs.

  1. CUSTOMER SUPPORT

To help users with all the concerns they have, Coin Cloud provides amazing customer support. Although cryptocurrencies have been there for some time as of now, it is still a new world to many people. As such, having a strong support system that works effectively in terms of providing correct information to the users is important. This is what makes Coin Cloud proud of what they have achieved so far.

  1. TRUSTED BY MANY

First things first, Coin Cloud has the largest 2-way Bitcoin ATMs in the world. Their Bitcoin ATMs have been catering to the needs of people since 2014. With a live support system and intuitive technology in the cryptocurrency space, they are the expert in this industry.

  1. PRIVACY

When you are buying or selling Bitcoin on online exchanges, you have to share your bank information alongside credit or debit card details. But when you are using Coin Cloud Bitcoin ATMs, you don’t have to worry about either of them. Through their ATMs, you can buy and/or sell Bitcoin by sharing minimal information.