When you do an online transaction, you need to provide a ton of information to identify you as the person initiating the transaction. Additionally, the person who receives money has to provide a ton of information to a third party so the transaction can be completed. Bitcoin has a different take on these types of transactions. Transactions happen on a peer-to-peer level without there being an intermediary when visiting a Bitcoin ATM in Orlando.
There are good reasons why you need to provide identification and other information when you are making payments with fiat currencies. The verification process keeps crime down. It also puts an intermediary in between the transaction, giving them control of the provisioning of services to chosen parties. While that might not seem like a big deal because everything with your bank has run smoothly up until now, the day things stop running smoothly is when problems begin.
For example, if a person visits a Bitcoin ATM in Orlando and they get access to a set amount of Bitcoin, they are able to transfer that money to whoever they want without any interruptions. However, using a bank as an intermediary gives your bank the power to determine whether or not your funds are going to be transferred. You could be trying to purchase a meal at a restaurant in a state you have never been to. Your bank receives the request, but because they didn’t know you were going to be in that state, they immediately block your card. It’s your money, but the bank is telling you that you can’t have it.
Learn how RockItCoin Bitcoin ATM is helping people get access to cryptocurrency via a transparent network of kiosks when you visit this website.