Bitcoin is a decentralized digital currency, without a central bank or single administrator, that can be sent from user to user on the peer-to-peer bitcoin network without the need for intermediaries. Transactions are verified by network nodes through cryptography and recorded in a public distributed ledger called a blockchain.
Bitcoin is unique in that there are a finite number of them: 21 million.
Bitcoins are created as a reward for a process known as mining. They can be exchanged for other currencies, products, and services.
As of February 2015, over 100,000 merchants and vendors accepted bitcoin as payment.
To use a Bitcoin Coinstar ATM, first find a participating location near you using the Coinstar website. Then, insert your cash into the ATM and follow the instructions on the screen.
You will be asked to provide your Bitcoin wallet address so that the coins can be deposited into your account. Once you have completed the transaction, the coins will be deposited into your wallet within minutes.
Coinstar has been working with Bitcoin since 2014 and is one of the most popular ways to buy bitcoins with cash. The company has ATMs in over 20 countries and allows users to buy up to $3,000 worth of bitcoins per day.