Bitcoin and other digital currencies are seriously lacking in one vital area: accessibility. It’s prohibitively difficult for new users to obtain cryptocurrency. An individual who wants to obtain a small amount of Bitcoin would probably find even the easiest route to be rather challenging.
Bitcoin ATMs
Over the past couple of years, several solutions to this vexing difficulty have been attempted. The first such attempt was the creation of the Bitcoin ATM.
This machine is similar to the bank ATM that we are all familiar with. A user inserts some cash and receives a printed paper wallet which holds their new Bitcoin purchase.
Bitcoin ATMs are expensive, however, and are only suitable for areas with high levels of foot traffic, a sophisticated tech-savvy user base, and reliable Internet access.
Debit cards
Recently another solution has emerged: the Bitcoin debit card. Users deposit Bitcoin in the debit card provider’s web wallet, and they receive an ordinary looking Visa card. When the swipe the card at a retailer’s point of sale, the appropriate amount of Bitcoin in their wallet is immediately sold, converted to cash, and then the cash is sent to the retailer as payment. This all happens in seconds, allowing the transaction to be completed as quickly and seamlessly as an ordinary debit card transaction.