Bitcoin Forum

There's a new Bitcoin ATM in the mall down the block from me, so I went over and checked it out.

https://www.youtube.com/watch?v=xajKjxxRL04 (https://www.youtube.com/watch?v=xajKjxxRL04)

Gosh... the rate is extremely high at CAD$1820 per BTC (CAD$20 for 0.01099BTC). Current rate is only around CAD$1520!

I also wish that there would be an ATM in my country as with ATM we can use our bitcoin very easily in our country we can spend our bitcoin even in those places where there will not be any connection to our phone so we will go to ATM and will withdraw our money for our needs.

It is always more expensive to sell/buy BTC on ATM,than on some exchanges.There is posted here some list of products you can buy for BTC and there is ATM for some 9+BTC,and if I remember exactly they say time to return investment is around 3 months.

It is nice to have ATM to buy BTC or exchange for fiat,but for now it is much expensive then exchanges,but in any case much easier and simpler.

Cool. if the tool has been spread across several countries, maybe it will be easier for people to buy bitcoin. Well, it probably would make the transaction more than ever before. but, I think bitcoin users in the world, the need for tools, because I think it is a cool tool that investment in a large market.

The option he did not cover was the ATM fees or did I miss that part? Most of these damn ATM's add a lot of fees to the transactions and it leaves

you out of pocket with a lot of money. They should have a pop-up showing what the cost of the transaction should be to give you a choice if you

want to proceed or not. I have to say the confirmation on those transactions was pretty fast... when was this video done?

That's nice. I wished it could spread to my country, cos sometimes, bitcoin transactions get difficult here.

Ok but i dont think many people will be interested in that as most of the people have bitcoins in wallets and it's enough for them.
What did you even say like what are you even saying . What connection and what all. If you want to use internet then why will you go the the ATM.
Man you can get WiFi anywhere walking around and you have wallets for that . The offline wallets and when it comes to ATM then it means that you might be very rich and might be holding a lot of bitcoins and if your rich at least you can afford a net pack or so for your phone.

its awesome to see still more and more bitcoin atms are being implemented all over the world, i hope soon my place will have one too. but i have observed all the bitcoin atms has this high price problem that like a common problem in all , i is worthy to  try even at that high price

Really? ....
if bitcoin ATM can spread across our countries, that will be a great deal. infact it will  
aid better use of bitcoin. even if fiat will be in plan to be eliminated, this will be one of the way forward. cant wait to have it.

I would like to have that possibility where I live, but apparently the rates would be a bit high. I think it will take some time for such fees to go down.

I have few Bitcoin ATMs in area where I live and work. But I have never tried them because I just don't have that habit to use them. It's much more convenient to me that I buy or sell my coins online, on localbitcoins. But it's good to have ATM option and I think that can contribute to popularity of Bitcoins.

Thanks for sharing. Did that machine also offer an option to convert BTC to cash?

The rate is 300 CAD more than the normal rate? That's insane. They should charge 5-10% more but their rate is almost 20%. Better to use online exchanges and convert BTC into fiat rather than using these ATMs. Online exchanges charge 5% fee which is more reasonable.

but i think we do not need for any atm to be use for bitcoin.  i think the online wallet system is the best option for bitcoin to  use. i will like to continue using online wallet system for keeping my bitcoin.

Nice video, if you ever meet the guy who owns it, ask him what hes paying in fees to put it in the mall. I looked into it around me and they wanted extortionist rates.

Wow! that was cool if I am going to look at it. Here in my country I know we have only 1 Bitcoin ATM machine but too far from my place it takes 3 hours before I get there. But never experience to en-cash some of my bitcoin according to our currency, of course I would love to do that if ever I can visit to that place. :D

Good for you. I wish they add cash-out option to it so that more Bitcoiners can subscribe to later on.

That's dope. It's really easy to buy and sell bitcoins.
If I just had such an easy way to buy bitcoins other than paypal which cost me a lot I'd surely go for it.
I actually noticed that the rate was a bit too high but nothing to complain about I guess.

More and more of these ATMs are needed in the world.

Wow, that's cool! The exchange rate is a bit high but I'd definitely like to try it at least once. The only option we have in buying coins is through exchanges (they do offer various ways of cashing-in though). I wish we have at least one of these nearby. They should put out more of these to be visible to the public. I guess the good thing with having bitcoin ATMs is that it give a sense of normalcy to cryptos. People would see bitcoin as just some other form of money. If people can have cupcake "ATMs" why not bitcoin ATM? 

BTW Ben, I'm a subber, I just haven't seen most of your vids because of the length. I only have 100gb monthly allowance so I refrain watching long vids. :(

Why do you need atm when you have localbitcoins.com?

We don't have one yet here in our country,but we have an online local exchange here where you can buy bitcoin by banks and convenient store,it will take five or ten more years before we can have our own bitcoin atm here and so I envy you.

I also don’t use the bitcoin ATM that much even they are scattered all around the city because they take more fees than the online peer to peer exchange platforms, I really think that ATM bitcoin machine are kind of too early to actually start using them because there is still many people who don’t actually use bitcoin in their business as a payment method.

Wow. That buy rate is so far away from the selling rate.  ???
This is ridiculous. Is it a rip off or are they trying to back the capital of that ATM machine from the users?
That is not how business works. They might really want the ROI to be back in no time.
Who will use this kind of sh*t? How can we make people buy bitcoin if this is how we do it.
It is just sad. Way too much.

wow, I first see atm bitcoin on youtube, and it was really cool. I think will be very easy to invest if in each region have bitcoin atm like that, but I think it will be difficult, because not everyone knows that sort of thing.

For small amounts, also 24hr access.
There's a bunch of ATMs where I live and numerous times I've had problems with them stopping halfway through a transaction reporting some error. Here they often have somebody hanging around working for the ATM to chase off
rival traders sitting beside it offering a lower rate so I was able to fix the problem immediately but would be wary of any standalone ATM with a phone number that just led to a voicemail that's never checked.

I wish I could try one too but there is no Bitcoin ATM yet near our vicinity. I think it will be good if more of this will be available for us so we are not dependent on localbitcoins or just a few bitcoin exchanges.

For all those who are complaining or wishing for a Bitcoin ATM in their City or locality, just read the posts of those who have used it.
The exchange rates are ridiculously high and on that there will be transaction fees, it's better if you use an exchange and get the money to your bank which you can cash out anytime.

Jesus Christ, I didn't even know something like that existed, that looks so cool.
I was being kinda skeptical for what concerns converting from BTC to cash, as I thought cash would have been automatically released by the ATM, so anybody could have taken it. But then I saw he had to scan the QR code to get it, that's simply awesome. I doubt I will see them at my place anytime soon, you're lucky haha.

I mean.... I don't care about the rates at all, of course that need to be fixed, but I still like the concept of it.

find local traders with cash in hand it's a better rate and less complicated

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We live in era of technology, the use of atm being replaced by internet banking, as well as to Bitcoin ATM, we just need to wiped our smartphones and perform transactions instantly. Unless we are in business meeting or forget to carry gadget. Animo of Bitcoin atm in my country is still very low, even atm looks dirty and is placed in the corner of supermarket. For me, fee isn't a problem because there is actually no harm if done only occasionally.

I wish I had one of those in my town, but Bitcoin is not spread that much in my country, so I do not know if my town will ever get an ATM. There is only one ATM in the whole country and my town is not really among the bigger places, so I guess I'll be struggling to convert Bitcoins and fiat a bit more.

That's perfect, the explanation is just perfect for everyone even for those that don't know much about bitcoin.

One thing that could irritate people is the waiting time, for this tutorial it took you 5 minutes but in reality it takes more to sell bitcoin but shorter to buy bitcoin.

What kind of verification are needed for the second and third option? Why it didn't require phone number when you wanted to buy bitcoin worth 20 CAD?

P.S let us know where and how much have you purchased the sunglasses :P, I'm gonna buy something similar hehe.

No clue about the verification system, but from what I've seen the ATM asked for his phone number in order to let him know through a message when he could have taken the $, since the process requires time. In the other case, there was no reason to insert his phone number as the transaction had been instantly sent to his wallet.

just saw theres now over 1000 bitcoin atms, I hope the ride to the next 1000 more is much quicker.

I can't wait to try one. This clearly and boldly answers the question: is btc money?
I wonder if it has anti pump defences? or a limit how much you can withdraw.

Bitcoin ATMs are dumb anyway, the owners can get away with charging giant fees and ridiculous exchange rates just because of the gimmick of it being something you see in everyday life.  People will go to that ATM thinking that that's how you get Bitcoin, which is equally stupid since it's rooted online.

Awesome! Nice video, I watched it till the end. I wish that there will be bitcoin ATM's here in my country so that I can conveniently go out without bringing cash and if ever I need to it I'll just sell some of my bitcoins. And I like the design of their ATM, for sure the banks will do the same and will copy that design.  ;)

a very cool video indeed,thank you for posting it
an easy to use atm with atrocious rates,haha
on a 20 CAD exchange back and forth you lost 0.0011 + btc which is 1.5 CAD
but I wish my country had machines like that- I'd host paid tours  ;D

Awesome!I wish there is also a
bitcoin ATM near our house.

According to my friend having a bitcoin atm was a good a advantage especially if you have a friend it will be a great advantage for us to show them that we have bitcoin balance and through bitcoin atm we can convert and withdraw it according to our currency the amount of bitcoin we are going to get it.

Everyone, well more than 90% of the Bitcoin universe loved that concept but the thing is that it is not yet a feasible idea for everyone.
It's only good if you are rich and won't bother for paying fees. Small traders or gamblers will not be able to pay that much fees with that exchange rates.

it will attract attentions and curiosity coming from people who doesn't have idea regarding to bitcoin will be concern about this type of system
for the long run it will help the popularity of btc like what you have said its a easy way to check and withdraw your btc balance and we can easily
show it to our friends too.

But there has got to be more visibility of these machines. Case in point, in my country there are only two of them that are actively working, but they are only located in two business districts (which are still far from where I work and live). Would love to see more of those so that it is easier to access it and for people to be able to get more acquainted with such machines.

Such sig spam.  This forum is truly fucked up.  OP doesn't even care to write anything more for those of us who couldn't care less about watching a YouTube video.   The only people who seem willing to write are those who have nothing coherent or constructive to say, and this is sad indeed.

Would love to use a bitcoin atm, but alas there are none to be found anywhere near me.  Perhaps someday. 

It's a nice video, i've never seen a bitcoin atm as there's only a few in my country and it's located very far away from my place. And the rate difference quite significant. And how long you have to wait for the confirmation to sell bitcoin there?

Yes good, it's a great experience, I hope ATM bitcoin is also present in my city. want to know, whether it is provided with a wallet?

probably it's done to cover the machien maintanance, basically you are actually paying a fee to use that ATM, nothing is free in this world

at least it's nice that it doens't require your ID scan or something like that, but i'm afraid they can track you better with ATM, that's one of the reason why they are building those

That information sounds good. How i wish to have like that, i mean bitcoin ATM near my house. Im just wondering, i think it wont happen here in my country since they dont actually accept bitcoin and even here in my place, i think im the only one know and used bitcoin  ;D so theres no chance to have like what you have now

Looks like the usual, which will not cut it.

Extortionist rates of course, than looking further you see the more complex technology capable of recognizing paper bills. But only slurping them in.
Why can't any ATM pay out money for heaven's sake? So Bitcoin keeps looking like some one way street, seriously?

These sorts of ATMs do more harm than any good.

That's good to see such a visual of withdrawal from bitcoin ATM. Bitcoin ATM's were making big earning because they have increased fee compared to exchange websites. Also these days bitcoin ATM have decreased a lot than the past days.

Bitcoin ATMs are a tremendous way for newcomers to be exposed to Bitcoin, and easily experiment with it without the pre-requisite of setting up an online trading account. More and more bitcoin ATMs should get open all over the world so that the more and more people get to know about it and get involved. I

I also dream of having a bitcoin atm near my house so I will not make transactions with the banks or the courrier and wait for 7 to 24 hours before my cash gets into my bank account or at my pocket. But if there are bitcoin atm near my house then I can instantly  convert my bitcoin into cash and I can also easily buy bitcoins using the bitcoin atm machine. If there was an atm near my house buying and converting bitcoin to cash is very fast.

Just be careful about ATMs that aren't at a bank branch. I have read a lot of articles about people using pen cameras to steal peoples pins. I would think one in a mall would be safe but you never know so be careful. That is awesome that they made that available though! I need someone to put one near where I live!

How is high for convenience if is right in a mall and it gives you instant access to your deposit? Cash means access and the liberty to have them.

I think that if we send a bitcoin transaction then the ATM estimates if the fees are enough or it waits for the first confirmation.

But what are the next "level" of verification in order to sell or buy higher amount of bitcoins, if they require something like ID verification then I dont know how can they verify it or the process will take too long.

That is good video you are lucky man, unfortunately not all of cities in every countries
there are bitcoin ATM machine avaliable because moshtly countries there are not bitcoin ATM machine,
 bitcoin ATM machine is still be considered bad business because bitcoin is something new
 and not all of people know about bitcoin and use bitcoin in real life for payment method.

Very nice video!

Does this mean you can buy/sell up to 3000 CAD without any identification? Are KYC/AML-regulations that loose in Canada?

It seems a bit weird to walk around with your receipt, waiting for your Bitcoins to be confirmed before you can pick up your cash. If someone manages to take a picture of your receipt, he can claim it and walk away with your money.
It may also be possible to find the transaction for the amount shown on the screen in a Block Explorer. The observer can then recreate the QR-code, and walk away with your money.

I see many people in this thread complain about the fee, but it's not that bad at all: 20 CAD gets you 10.99 mBTC, and 12.77704 mBTC gets you back your 20 CAD. You've lost just under 2 CAD on this transaction, less than 5% one way.
I can imagine fees go down when enough people use Bitcoin ATMs. Now the machine has to be paid back by not too many customers. If customers would line up, competing machines could compete on fees.

Oh i didnt expect that this thing does still happen on Bitcoin ATM i thought its just only on Local Fiat ATM and im sure one of those hackers/scammers/thiefs are bitcoin lovers too. We should really be careful on this matter and thanks mate for reminding or giving us caution related to this matter.

Nice video showing your favorite Bitcoin ATMs and how to use it. I didn't know it is so easy to use it to buy your bitcoin. Yes the rate is a bit higher but that didn't surprised me. I never see one until today, thanks for sharing. By the way, this ATM is from BitcoinBrains but do you know any company building/selling such machine? I am just curious

Nice, Even we are also waiting for bitcoin ATM in our country. In my country, there are many people who are supporting bitcoin, so very soon our government can able to set up bitcoin atm machine. Once the atm machines spread to different parts of countries so that every country will start legalizing the bitcoin.

People many times prefer to buy or sale bitcoin using the cryptocurrencies ATMs, usually because they afraid the person to person transactions, but unfortunately the rate there is very high. In my area there are 2 atm where the buy is kraken or average price plus 8%. Therefore for me is better to use an exchange like this in my signature.

Yes dealing with the machine is better than dealing with a person. With the person, we may get the cheat, but the machines will not cheat us easily. And I think the charges is common in all country. It's 8 to 10% charge. But it is safe to compare other type of exchanges. In my country still, it's not coming don't know when it will come. My country people are also waiting for this Bitcoin ATM.

I've heard a lot about ATM bitcoin, however, I have never experienced it. It's a far cry from my country. It is too poor and backward, bitcoin is not possible for everyone. I really want to know how it works, thanks for your video tutorial, it was awesome. I wish I could live in your country, where technology evolves, and bitcoin ATM is just a normal thing. I do not know when I can use it. I wish I could use it soonest.

Which is your country mate, I am sure it will come to your country to. You are lucky op that you already have a atm installed in your place. But what I have usually heard is the rate the transaction happens are usually very high. So beware of it, even if you just want to try it. Also make sure you execute it properly cause if a transaction is a error who will you complain to

Trust me, this Bitcoin's ATM that you are wishing for will just ask you high transaction fees when you sre going to use it, and besides why would you guys want to spend bitcoin in everything that you do in your everyday lives when you could simply use fiat since it is the usual thing that we use in our everyday expenses, and don't you think that you could lose profits when you are going to use it on everything, I mean, you could get more profit when you are going to save it and hold it in the long run.

its good to see that finally OP have new experience when using bitcoin ATM and he tells us how it feels with the video. i hope in future, we can see that there is bitcoin ATM available in many place and many country so we can trying to use it like what the OP do. but for now, as bitcoin ATM is still difficult to found, i think i still use third service that will help me to withdraw or exchange my bitcoin into fiat and i am really satisfied for now with the service.

That's great,it's always nice hearing such stories and at least people will get curious what this is for and hopefully get introduced to BTC that way.And for us,this is a win situation because we got to use what has been made and benefit from the publicity that BTC will get and eventually lead to increase in it's usage.I often think that a great idea would be to make some kind of banner and put it on a sign saying "BTC-keep your cash" for example.And get people to wonder what that is and then tell them-hey,you have to hear about BTC

Nice to see more atm's available and especially in a high traffic area like a mall where they can get alot of public exposure.

Nothing about the fees in your video - interesting.
I understand that it's a paid video, but still - you should be open and honest about everything.
And as usual - it requires ID - of course they are trying to control and track users.
No ATM's for me, thank you.

Great video, I didn't know if this process of withdrawing bitcoins was like you showed us. In my situation, I have bank's card with very, very low exchange rate (that's great for me) and when I want to withdraw money, it automatically converts btc into local currency.
And ATM which you showed us, is great way for people which is using blockchain.info's wallet or other wallets, it's great especially when you want to withdraw money from bitcoin gambling websites.

8% - 10% Is quite high. I'm guessing a good deal would be to get 5% or 10% spare change - poker change, so the sum is meaningless, but the value of the machine higher.

I wish that there's also Bitcoin Atm in my country so I will try to use it. :)
Bitcoin Atm is a great way and also an easy way for many people to cash out their money.

Having an a ATM near at my house it means the community in my location is already a bitcoin fanatic or bitcoin users. Because it will be useless to put bitcoin ATM in one area if there is no bitcoin users.

Nice to hear that you have Bitcoin ATM bank near you. You're very lucky of having that. It is very convenient and no more hassle to convert your bitcoin into fiat currency. I hope it will have in every country, I will be thankful to have that. No need to validate my identification to get my money. It is so envied but it's okay. I know that some countries weren't accepted the bitcoin because of their government policy.

I think that using bitcoin ATM is pretty much stupid right now, i cannot see why anyone who has a lot of money invested in btc would use something like that because of the big difference in value.

After all, if you have bank account then it is not useful nor comfortable because you need to go somewhere if you want to convert crypto into fiat cureemcy, and online exchange is much easier and faster in my opinion.

If bitcoin ATMs are totally anynomous (which i doubt is true) then they might be used for that purpose usually, however i dont see point im using it when the value of owned btc is lower because of atm maintenance etc

I can't agree completely with you.
If you are in some new city, or country, and need your money quickly, what you will do?
Ask friends or parents to send you money with WU? Or International postal order? Bank wire?
All this ways are expensive, with big fees.
If you can find some bitcoin ATM with reasonable fees, why not?
Of course, I will never use bitcoin aTM for bigger amounts, but for quick, small cash, it's the best way, I think.

I think that that is cool. I have heard some BTM have a high fee. Doesn't that defeat the purpose ?

This is awesome, bitcoin atm near in your house is great. It will be nicer if bitcoin atm will spread across over here in my country so anyone here can adopts bitcoin easily. Hoping this will came stand here for the most awareness of anyone of bitcoin here.

I really want to try a bitcoin ATM here in my country but not same with you the location of the machine is far from the location where I am residing which will probably took an hour before getting there lol ;D i am very curious how does it work and how to use it I really wish that there will be a bitcoin ATM that just a few kilometers away from my home and not a luxurious place 8)

That seems like a high price to pay. I guess you pay for convenience, but I don't think it would be worth it to me. Do you know if anyone actually uses it?

This model ATM does not add extra fees, these are usually calculated in the rate. operators have their own rates, depending on costs of location, cash handling, exchanges used as liquidity providers, staff costs, etc. Normally ATM costs are absorbed by a bank but with Bitcoin you are your own bank so these costs are there. Speed of transaction can be fast, even in today's market if you add enough transaction fees, this is also one of the costs the operators pay so it explains the higher price people pay when using an ATM.

That's interesting read. Would be great to trade directly into the back account and get directly to your nearest atm. Same deal right. Get rid of your bank rules and everything though.

Ive personally tried bitcoin atm , It is quite good in buying dome bitcoins in bitcoin atm. It only took me 5 mins in order to finish my transactions. The disadvantage I see is the fee , it is quite large for me as a buyer. Ive never tried converting my bitcoin into local currency with atm machine for some reasons.

I really wanted to try it here, but, my country does not have such a technology. well, that is a very good technology, and very practical for users bitcoin. you can redeem, or buy bitcoin at a particular place without waiting for a very long time. Well, I guess it is the hope of every person using bitcoin.

its quite good to hear your able to use bitcoin atm,i guess in your country bitcoin ATMs available,but unfortunately in my country bitcoin ATMs are not available.optionaly we can buy bitcoin debut cards and able to use in normal ATMs in any country

What country? Here in East Europe we can buy bitcoin at supermarkets, hospitals etc, where you have other options as buying WOT credits or pay the bills.

It looks like it was a great experience, when we can take money from the conversion of the bitcoin, so when the high price of course I'm going to take a lot. hope there are also bitcoin ATM also available at my city.

Than bitcoin ATM you can get all the services better with reduced fee from your locality through the exchanges. Compared to the past collectively the number of ATM's all around have decreased a lot due to the maintainance and​the increased withdrawal fee.

Wow nice, many bitcoin users who live in asia can try to out their money through atm because we know the fee transaction from bitcoin atm a bit less than exchanger.

This is just to add another option on how people can obtain Bitcoin. But obviously BITCOIN atms are a business so expect the exchange rates to be below on what you pay for ( 20 CAD TO .01099 BTC). Also if you are selling your Bitcoin for Fiat it would do the same, the machine will give you an higher Bitcoin amount to convert it as seen on the video you have posted (.01277704 BTC to 20 Cad). But of course it is no different in your on board options of how you can convert/add your Bitcoin in your Bitcoin Wallet. But the good thing is with Bitcoin ATM machines it can add a lot of curiosity to mall goers on what it is, therefore making its presence more known to the majority of the people. 

Having that ATM machine will definitely attracts people and will be curious on how it can obtain. We bitcoin users can make our transactions easier and instantly, though there were a easy way to cash out btc now in our country thru the help of security banks and coins.ph that makes cashing out conventiently. Having BTC atm will really be a big help.

Great video.

And you're lucky to have one near you because, honestly other countries all the bitcoin ATMs are located in the city if there is any at all
It's basically destroys the whole point of having a bitcoin ATM to provide nice and easy transactions in the first place.

Without identification required too... That's just awesome.

Your videos are great, I have subscribed.
I like the way you present your information, you actually carry out the thing on video, instead of one just presenting it on a slideshow.
Keep it up.

It will be used for many will want to test it and want to experience it even with huge transaction fees.
This works for countries without options to withdraw or deposit. But to others that have their website wallets connected to a bank it will not be used much. One example is here in Philippines in which we use coins.ph that is connected to a Security Bank company where we could withdraw easily without a price to pay.
The only problem is they got a lower price when you exchange bitcoin to php. That is where they get their profits.

Sometimes, I really find it difficult to understand the basis of this bitcoin ATM or how they are intending to encourage users of such facilities maybe they have beclouded by the idea of desperation in the case of fiat where you can just go ahead and get it no matter the fee. Every issue of ATM I have seen, you buy at extremely high price even thinking that one has no option than to buy and for those intending to sell, the ATM buys at low price compared to what is obtainable in the market. If its in my country, I will just pass.

Honestly we should have more of you, sir Ben Perrin! ;D

Just really awesome to see someone who doesn't talk about all the code that is behind bitcoin.

I think that the Bitcoin ATM is cool, but not really that great for someone that lives in a rural area and doesn't have access to a bitcoin ATM straightaway as they would have to drive hours to get to that ATM anyways.

And most countries doesn't even have a bitcoin ATM.

But you're lucky that you do, so enjoy that priviledge  ;)

And keep up your videos! They are amazing.

Good to see that there is already one bitcoin atm machine at your place,hope that will reach here in philippines too.But one thing i only notice on that machine which make me think more why rates at buying bitcoins are so high? and rates at selling bitcoins are too low?I know how trade market goes but this one makes huge difference on buy and sell price compared to markets online

Where is that exactly?
How does it work, can you withdraw your bitcoin funds from that ATM machine or you just have to buy bitcoin using that machine.
Sorry for the noob question.

I hope other countries start to recognize and adopt bitcoin.

There is also a btc atm machine in basel\swiss !
Went there a couple of weeks ago to pay out some of my bitcoins...works just fine!

Great news, I just learned it when use of the bitcoin in Eastern Europe could be in supermarkets, hospitals and so on. Surely this can give you the guarantee of the future of the bitcoin so I feel optimistic with the bitcoin.

Very nice and informative video, thanks OP! I have no bitcoin ATMs around where I live so it's always nice to see that somewhere they exist.

In the past I encountered posts where people were complaining about high fees Bitcoin ATMs charge for the usage, but I don't think people would complain about this one. OP purchased 0.011 BTC for 20 CAD and then sold 0.01277 BTC for 20 CAD. We have less than 14% difference here between BUY and SELL, and I've heard about ATMs where such difference is over 20%.

In my country there is like one BTC ATM every 1km or so.. they're really near even from my home, and that's great. What I don't like is that you lose quite a lot of money because of the live exchange rate, which is with like 5% over the normal (Preev) price.. and for a $1200 coin, 5% is A LOT.

It's really amazing to see bitcoin ATM and it's really fun to see it's work.
Overall I see that transaction using bitcoin ATM seems secure and simple , hope I can see mine on my place !

That was awesome and very easy to use, well you would actually need a smartphone though to make a transaction and maybe a lot of non smartphone users or the outdated ones can not use that which is particularly is a lot in my country! but I would love to have it here and I think it will take up knowledge and wits in using it that is why your video is helpful thanks.

The ATM system in regards to bitcoin maybe is the best thing that can be made all over the countries. Because through this it will make transaction all over the world fast and reliable. It may do transaction on daily basis also. In my country there is no direct atm on bitcoin but there is a kind of wallet that let you used/spend bitcoin on a banking system through sending and transaction indirect to your atm or bank.

There are some people who want to use the bitcoin payments easy and easy (atm bitcoin) now began to circulate in the online world but we don't know if it is safe, reliable in use due to certain expenses must be used while initially with free of charge. therefore I still doubt the existence of an atm for bitcoin. because many people would rather look for secure payment tool for bitcon

Really cool idea with this ATM I dont have them in my town, but in the capital city we have those small ones. This atm machines are really easy to use, but this one which can give a cash are also very expensive maybe that's why we have small.The buy price are little bit high but if you need bitcoin using paper that a great technology

Its flawless and in my experience the transfer was pretty fast, not 7 hours, but max 7 minutes. No id was required and the cash was pretty neat and new. This might be the future. Although I bought some big mac to celebrate the day

This is awesome video integrating bitcoins with the technology of  using atm machine very cool, If ever I got this one in my place I will try to use this but considering if fees is a little bit high I will use my local exchanger instead.

I've had a similar experience to this, never really had an issue with the one or two ATMs that I dabbled with but a lot of them were pretty far off of the spot value so it felt a little like I was getting ripped off, but to be fair it is a physical thing and as such some sacrifices have to be made.

I should get a big mac one day. Been forever since I've had fast food.

Would try the Bitnational machines there are a heck of a lot of them near your location as well
http://bitnational.com/Bitcoin-ATM-Locations
The Cafe Blanca located one is nice and chill ^^

Yeah you are right, I can even consider Bitcoin Atm machines as my last resort the only advantage I am seeing using this is that it is instant from receiving both Bitcoin and Cash compared to my local Bitcoin wallet in which I have an option to convert my Bitcoin to Fiat via Bank Deposit it takes time, and it has a time limit of 10 AM in order for me to receive it at 4-5 O'clock in the Evening, if not it will be processed during the next business day, also the advantage of it is that they exactly exchange it from its real price without any transfer fee, so you are really getting the value of your Bitcoin with it.

How else to celebrate being connected to the future, to a market of billions of dollars at your finger tips, the money that make the atm look as if sitting in front of a bank. I know is a ripper, but I was amazed how lets you choose insane amounts, just for the idea and the morals it's pretty good. I would not look at the comision for withdrawal of 10$, for example, I made in newsletter campaign (chronobank) :D

Thats good that you have a bitcoin atm near ur house,it will help people to buy bitcoins on the go.but the price of bitcoins is higher than the standard.Well according to me  there is no need of an bitcoin atm as we can get bitcoins without even not stepping out of the house and i think thats why online shopping is so much popular everywhere.

Lucky you that you have a Bitcoin ATM so close to you the closest bitcoin ATM to my house is thousands of miles away but the rates don’t seem very good but it could be used for emergencies where you really need to sell your bitcoin.

Are these bitcoin ATM's business or private owned. Does anyone know how you can invest and put one at a mall or business. Does these require alot of money to own if they are sold to individuals.

Still better than no ways to buy. If you can't leave house, You just need to sneak out at night with cash and phone and buy/sell bitcoins. Easy peasy.

Great thing to have your own backyard "or at least, in the neighborhood" bitcoin ATM, right now, other than ATM's it might be difficult to buy bitcoins now anonymously, exchanges require full KYC and ID verification, even p2p with methods other than cash ask for ID which I'm not comfortable giving, ATM's are perfect and the fees aren't higher than those of a P2P trader.

I never like bitcoin ATMs because of the rates. they're good for publicity though!

wish I would have such Opportunity to access ATM for bitcoin transaction instead of mobile and laptop. yes the day will arrive soon when we could use ATM freely around like normal ATM we use. but really you know I am comfortable with my traditional mobile and web wallet and it does my work better than any other devices and any other form of wallets. because it simply makes my work easier and its simplest form of wallet for me. and those other form of wallets like hardware wallets, paper wallet are simply waste  for me and consumes lot of time and are not accessible everytime and everywhere oth the other hand online web wallets and android app wallet makes my task 10 times faster then ever. but having ATM would be a plus point for bitcoin users as simply it would add extra comfort to us inspite of digital web wallets and mobile apps.

for me it is okay to have bitcoin ATM in order to cash-out some of our bitcoin easily and the transaction fee is just fine because they have also huge capital to build that ATM machine it is just a fair game just don't cash-out small amount of bitcoin.

If I have the dean of a bitcoin ATM machine I will feel happy but rather maybe I take every day as well, and I do not know how much the tariff every one time what the transaction is high tariff?

Now there are many ATM bitcoin that exist all over the world. I myself do not know how it works because I myself have never tried to pull bitcoin using ATM bitcoin, I really want to at least try it once to withdraw bitcoin from ATM

This is another significant step by bitcoin. This simply means that bitcoin is slowly taking its place in the world of commerce.

I know this would take some time, but I hope this will be multiplied to several countries more so that those people who remain skeptic as to the real score of bitcoin would start to believe. If they found out that this bitcoin ATM thing is really working great, I know more of it will be installed.

I hope something like this will also be installed in our country.



 

There are many regulations and licenses needed to place a bitcoin ATM machine and from what i understand it is not a profitable business model,you need to pay higher fees for purchasing bitcoin than the current price and you might need transmitter license to operate one,so since there are many hurdles i do not think you wont find many ATM machines around the world.

totally missed this thread initially!
I love it, loved the youtube video too, thanks to the OP for posting.

The rate doesnt matter if you are spending $20 - $50
it maters greatly if you are spending $250+ IMO

Its a great way to convert a few extra FIAT's into BTC on the go
without having to jump through the usual security hoops to set up.

Of course they were installed to bring profits to their owners so definitely expect some abnormal rates which would have been low if you bought from an exchange directly online or in person than using that machine.

how much the fee for using the ATM? if the fee is to expensive than any other wallet, then i think only few people will used the machine and they will prefer to used the other service. beside that, actually ATM machine is helping people to easily deposit and withdraw their bitcoin into fiat and this is a good news for people.

Very nice one, though the rate is alarming but it is a good development. Withdrawals into fiat speedily cannot be gotten better though I am sure the owners are going to be making lots of money.

Wow. It is nice that there is a Bitcoin ATM near your house. It will be very accessible for you to withdraw and because of that, there will be tendencies that you will withdraw your Bitcoin even if it is not in need. You need extra discipline there brother :)

that BTM (Bitcoin ATM) was awesome! buying Bitcoin was very fast. There was only issue that the process to sell Bitcoin may take so long and, if someone sees that we are selling Bitcoin, they can try to steal phone and the code from us

Agree with me gan, if there is atm in our country may be easier to take or withdraw our money from atm bitcoin for everyday needs.

In myself there are 2 atm bitcoin and 2 atm it is very far from my city. It might be amazing if bitcoin atm existed in different cities in different countries. Would be very easy to use and spending bitcoin right?