Bitcoin Forum

New Bitcoin ATM in the Baltimore area!

http://i60.tinypic.com/2daygdt.jpg

Located inside "The Mail Stop" packaging and shipping center.

Address: 2043 East Joppa Road Baltimore, MD 21234

Hours:
Mon - Fri, 9AM - 7PM
Sat, 10AM - 3PM
Closed Sun

Cash to Bitcoin, Price over Bitstamp, 7%

Customers may purchase up to $1,000.00 per day with only SMS verification. (Type phone number into machine, confirm code sent to your phone via text)

Further verifications are required for purchases in excess of $1,000.00 per day.

Questions? Post them here!

7% that kind of high fee, what about from Bitcoin to cash? how much is the fee?

My god can you imagine that trying to cope if we have another bubble, $1000 per day? we'd see a queue 100 meters long each day with half of it being the same people lol.  We need them gift card things you can buy in supermarkets with no verification that way people can just stock up tons. :D

It is not to bad actually. They have to recover the investment, which is not really a fast progress with current bitcoin use.

Anyone has numbers on how much bitcoin atm s are used?

I've never seen one of these machines here in the UK - are they getting fairly common in the States?

those things don't look cool enough, too bulky and probably slow too, on average what is the time for buying bitcoin?

i remember they showed in the usa(i think?) a small version

Agreed, transaction and purchase fees such as this discourage the use of BTC and ruin the point to some degree.

Agree, why should I change my fiat to btc if I'm going to lose 7% in purchasing value?

Most of your average Joe's will in future make use of ATM's and the like to get their bitcoin as not all will register on exchanges to buy their coins. With premiums like these it will just discourage more people to even try it out.

I mean what's the use. A retailer might offer you say a 5% discount on bitcoin payments to encourage its use but you then have the problem of it costing you about 7% to get the bitcoin.

End result - no incentive to even try it out.

Hey every little helps man, exposure to average joe is key.
I've never used a bitcoin ATM & I buy online & HODL.
Just incase anybody is interested CoinDesk have a worldwide bitcoin ATM map, I'd imagine it's updated fairly regilarly as CoinDesk is a respected source of info in the world of bitcoin.
Here's the link any way -
http://www.coindesk.com/bitcoin-atm-map/

No one will use that im afraid unless they purposely want to support he ATMs. Why pay 7% when you can pay a lot less in online exchanges?
Imo they should do periods of 0% commission to promote the ATMs.

Or they can do this, more big the transaction value it means more low the fees. That will make people prevent the small transaction and the owner of the ATM can earn fees from big transaction ;D
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