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Title: Will Bitcoin ATMs Extinguish Bitcoin Exchanges (Excluding Trading Platorms)? Post by: coinswap on May 14, 2013, 08:56:02 PM There has been a lot of hub-bub about the new Bitcoin ATM startups promising instantaneous bitcoin exchanges, which is a HUGE advancement for the Bitcoin movement because it will provide convenience and accessibility to the general public for Bitcoin exchanges.
If a Bitcoin ATM is located in your town, would you rather: A) Go to BitInstant.com (or similar), fill out a form with your personal information, print the form, take it to a local MoneyGram location to pay? or B) Head over to a Bitcoin ATM and buy/sell Bitcoins with the push of a few buttons. Additionally, bitcoin ATMs will not charge a commission fee, whereas most fixed-rate exchangers charge 4-10% per exchange! What if you're lazy, and want to purchase bitcoins from your home? Coinbase.com allows you to link your bank account to their exchange so you can buy/sell bitcoins without leaving the house, but the process takes up to a week, and requires you to trust a 3rd party with your bank account. Furthermore, true decentralization would start to occur because people wouldn't have to rely on major trading platforms to purchase their coins. TL;DR: Bitcoin ATMs are faster, cheaper, and more anonymous than all other US-based bitcoin exchanges. Bitcoin ATM Companies: Lamassu ATM: http://lamassubtc.com/ Bitcoin ATM: https://bitcoinatm.com/ What do YOU think? Reddit Post: http://www.reddit.com/r/Bitcoin/comments/1ebv6b/will_bitcoin_atms_extinguish_bitcoin_exchanges/ |