Cryptocurrency cantors aren’t a new thing. They have been successfully functioning on the market since 2015, both as stationary cantors and websites. If you want to exchange cryptocurrency quickly and without too many formalities, setting up an account and confirming your identity, an online cantor is the way to go. What is the difference between a cryptocurrency and the traditional one, and when can I exchange them? We answer that below.
Classic currency vs modern e-coin
Although both regular currency and cryptocurrency can be used as means of payment, there certain differences between the two. Traditional currencies are issued by the government and regulated by the central banks, which makes them a legal means of payment. Governments also control the supply of this money and from time to time publish an order that influence its worth.
Cryptocurrencies, on the other hand, are digital assets that serve as means of exchange that governments have no control over. The aspect of decentralization means that no central organ can control them or affect their worth. Cryptocurrencies exist solely in the digital form, as they are created by the computers and operate as fragments of code. Traditional money can exist both in digital and physical form. The virtual aspect of cryptocurrencies means they can only exist online, which is why they are stored in digital wallets. Traditional currency can be stored in many forms.
A popular way to deal in cryptocurrencies is the market. Most of them have powerful security and user protection programs. Some of the markets with high liquidity are: Binance (the biggest market with a lot of cryptocurrencies) or Bitbay (a market conducting exchange directly from Polish zloty, without the need to convert to Euro or USD).
Cryptocurrency can also be directly with another owner with the use of special platforms. That way the transaction is done between the two people and the page simply charges a manipulation fee. The biggest flaw of this method is a relatively high risk, the lack of security and verification. High provisions also drove the potential clients away, so as the markets became more popular, direct exchanges were almost completely forgotten.
There are also special ATMs, known as bitcoin automats or bitcoinmats, serving to exchange cash for Bitcoins. However, they aren’t very popular and usually only exist in big cities.
The workings of a crypto-cantor.
One of the most popular way to exchange cryptocurrencies is an online cryptocurrency cantor. Cryptocurrency cantor is an online platform, where you can exchange one type of digital assets for another based on their current market value.
Crypto-cantor can be a stationary shop or a, exclusively online business. As a regular stationary business it exchanges both fiat and cryptocurrency. As an online page it exchanges digitally sent money and e-currencies. Digital cantors often operate outside of the Western countries to avoid unfavourable regulations. Despite that, they accept Western currencies and often have several bank accounts in many countries to make the exchange to local currencies easier. The exchange can be done using a credit card, bank transfer, or other payment methods.
Crypto-Cantors can send the cryptocurrencies to a personal crypto-wallet of the user. If you want to invest your fiat money in cryptocurrencies using an internet cantor, you need to have an online account. After configuring the wallet connected to the account you can use its address to receive e-coins and send them to other e-wallets. Some cantors can offer to convert cryptocurrencies into anonymous prepaid cards, which can be then used at Bitcoinmats.
Modern crypto-cantor - Crypto-ATM
Crypto-ATM is a convenient online cryptocurrency cantor, which utilizes the newest cybersecurity measures to ensure their clients’ comfort during the exchange.
Crypto-cantor Crypto-ATM offers many currencies, like the Polish zloty (PLN), Euro (EUR), and American dollars (USD). The rate at which the cryptocurrencies are converted is updated every few seconds and visible in the form of a table on the site.
What discerns Crypto-ATM from other online cantors is the variety of available cryptocurrencies. Crypto-ATM allows for exchange among the 16 most popular cryptographic currencies - Bitcoin, Ethereum, Lisk, Litecoin, GameCredits, Dash, Bitcoin Cash, KZCash, Infinity Economics, Ripple, TRON, ZCash, Golem, OmiseGo, and Augur. It is a very wide variety, which is sure to satisfy alternative cryptocurrency enthusiasts.
How to exchange currencies using Crypto-ATM?
To make a transaction using the crypto-cantor, you have to check the price of your chosen currency. We click the chosen fiat currency to see the values.
Next we have to input the amount we want to exchange. In the picture below you can see 400 EUR. Important - the exchange occurs after the payment is booked, so the disclaimer over the calculator warns that the amount displayed is “indicative”.
We’re clicking “next” and filling out the form. It has two very important slots. The first concerns what course change is acceptable for us at the time of making the transactions. If the money is booked, but the cryptocurrency price rises above the chosen cost percentage, the transaction will be cancelled. It serves to make sure we don’t overpay on the account of an unfortunate price change.
Another important slot is the address of the e-wallet, where the cryptocurrency should be deposited. We currently have many online and mobile wallets available, as well as hardware wallet, which are different from online wallet because they hold the user’s private keys on a separate device. Hardware wallets contain online transactions, but are stored offline, which ensures the users’ safety. So, we are free to use many kinds of wallets. There is also an option to use an online wallet created by Crypto-ATM.
Finally, we accept the payment method as well as the terms and services. The cryptocurrency will be sent to our cryptowallet right after the payment is booked. Most of the currencies require a consensus confirmation - so the cryptocurrency will appear on the wallet anywhere from a few seconds to twenty minutes after the cantor sends it.
A wind of change? The chance of Crypto-ATM
Crypto-ATM offers both popular cryptocurrencies, like Bitcoin, and new, promising alternative cryptocurrencies, like TRON or Golem. That’s why it differs not only from other cryptocurrency cantors, but even cryptomarkets. An unique offer for various currencies is what makes Crypto-ATM such an innovative platform.
It’s worth mentioning that while cryptocurrencies are subject to more and more regulations, restricting their usage, Crypto ATM offers minimal formalities. All you need is your name, surname, phone number and a wallet address to exchange fiat currency for one of the many available cryptocurrencies in just a few minutes. It contrasts the situation at the markets, which require confirming your identity with a personal ID and a two-step verification process.
And so, Crypto-ATM is a way to skip unnecessary procedures and enjoy the express currency exchange.