Bitcoin Forum

In some countries there are Bitcoin machines where you can exchanghe Cash and Bitcoin. Would you use this machine or rather buy your Bitcoins in the Internet?  ::)

I would prefer Internet because these machines has higher fees as I heard.

every different method is suitable for a different purpose. they are not all for the same purpose of simply having bitcoin.
for example the bitcoin ATM machines have very high fees but the fact that they accept cash is a bonus for those who want extra privacy and want to stay anonymous.

i personally prefer a cheap method of buying bitcoin at the sacrifice of my anonymity.

I would prefer to buy bitcoin on the internet, because if there is a machine that can be used to buy bitcoin, surely the transactions done in the machine will cost, because the cost of making the machine or maintenance of the machine has a high cost

there are just a few country that provide that kind of machine.  And if you asking where would I buy bitcoin, of course I'll choose a fast and easy way to buy bitcoin, because bitcoin exchange site is almost provide in entire country and for local currency.

With the internet you can get scammed unless you are doing it under a place that has a certain level of regulation, escrow and certain garauntees... otherwise aI feel much safer in real life, either by paying with cash to a person, or using an ATM machine. ATM machine probably is better, because a person can always scam you. But you can't even trust ATM machines... it's always a risk selling BTC.

We don't have any similar atm here in our country so don't know how it will be to buy bitcoin directly through those machines. If there will be any such machines/atm nearby me, I will definitely give it a try but I have heard that most of them have over 5% in fees which sound quite ridiculous compared to what most of the bitcoin trading platforms have.

Agree, I prefer to buy bitcoin through trusted exchange in my country, easy to do even though we should clarify our Id, no problem because it is needed for AML and KYC.
Bitcoin price always increase, mostly. So, pay high fees to purchase bitcoin or withdraw cash isn't a good option for me. But, there are some advantages from bitcoin ATM, such as people from abroad want to cash out, it will be easier for them to convert bitcoin into fiat currency.

Well it seems okay to buy bitcoins at the atm because there would be no threat of being holdup by criminals.  Your money and bitcoin will be safe if the transaction will be made at the machine.  I think. ;D. Well since we all buying bitcoins on the internet there are some risk like what of the amount you ask to buy would not be the amount you want.  We do not know who we transact with and there is no way you can get it back.

I will buy bitcoin in the cheapest place, because that place I buy more bitcoin?
 ;D

If people are using these machines and are successfully earning Bitcoins from them, I don't think so there is any harm in using these machines. Rather these machines should be made common and place all over those countries where Bitcoins are legal. Currently Internet is the most common way of earning Bitcoins but I like this concept of Machines.

You are actually right using those machines would really have higher fees compared on buying bitcoins online. This is just a normal thing to consider because those machines do need maintenance and also its owners do need some profits too which its normal to think of that they would really have higher fees.If you wont mind the fee then its really good to use this machines if its on your place.I would really like to try it for the first time.

I don't like physical exchane between different parties, we cannot know if we won't bescammed in such a physical exchange. I prefer to buy bitcoin from exchange systems like Poloniex and Kraken. If I'll buy it via credit card, there also trusted web sites selling bitcoin via credit card.

Interesting post. Same mindset here. I strongly advice people to only buy in to cryptos that have a solid background: A solid team, product, advisors, preferably VC investors, etc. Sell all cryptos that don't have this solid background. It's a waiste of money.  I found this great website: https://www.coincheckup.com I'm really enthusiastic about this site, they let you analyze every single coin out there. Check for example:  https://www.coincheckup.com/coins/Bitcoin#analysis To see the:  Bitcoin Analysis.

The fee we have to pay to buy bitcoins from bitcoin atm is too high, i wouldn't buy unless it's the only option available. the average fee for buying bitcoin is (9.97%), will you pay fee such high?
https://coinatmradar.com/charts/#fees

Fees of around 10% is really crazy but if I would prefer to stack some dirty money, it still might be a good choice. Say I robbed a bank... or someone. I would choose the ATM. Otherwise I just don't see the point of doing so.

This is way too high when we do speak in the fees which would really hurt you up if you do only have enough funds to buy then you will surely doubt on buying unless if you dont have any other choice.Why would buy on atm if theres online exchanges which is away more cheaper and you just only need some few clicks.

Ya 10% is way too much, its better to use localbitcoins or local established exchanges. My exchange takes a fixed fee amount, whatever the amount you are transacting. Though they do such through bank directly, but atleast the fees are quite less. Even if one has blackmoney or robbed money, he/she can use physical local transaction or exchange to fiat eCurrency web bank, like Perfect Money etc.

My most optimal way to buy Bitcoins WAS on BTC-e as there was always a discount (now we know why).
Currently, it would be in the form of Coinbase as their exchange rate isn't so bad.
Otherwise, in person is probably where you will get the lowest rate, or large amounts on LocalBitcoins with Cash deposit.

I would prefer to purchase Bitcoins online through the Internet.

It is safe, anonymous and can be accessed from anywhere around the world. Having to use a third party such as a Bitcoin ATM can be risky (in person) and also incur some fees on top of it.

I would use an exchange like Coinbase, Poloniex or similar services to purchase Bitcoins.

Overall, the whole point of using Bitcoin is to remain anonymous and keep our valuable currency secure.

Although there's no bitcoin ATM here where I live and there's no possibilty of us having it soon but still I would say that wherever I could buy bitcoin cheaper and more conveniently I would buy it there and it would depend on the need too if it's urgent I might buy it using ATM but I would also prefer online as it's something I have already done so it's better to go for the tried and tested method.

At UBS or HSBC.
They have experience handling large transactions, and there's no risk getting scammed with either.

I like to buy bitcoin through the internet like most people because the fee is cheaper than the machine, if not mistaken the machine cost 8-15% as a form of maintenance.

I've tried buying online but not yet in a machine, buying online is much more preferable since bitcoin is internet based and you can save fees, transacting online but we also need bitcoin atm around it's a proof of wide adoption and technology .

I prefer effectiveness, so I dont really mind to spend a bit expensive but more secure, and I think cashing out in ATM machine is more secure  because we can directly get the cash

If I were to choose between bitcoin machine and the internet, I'll choose internet because it's fast and more reliable compare to Bitcoin machine. People are more familiar with buying bitcoins using internet, I think using bitcoin machine would be harder for them compare to buying bitcoins via internet on websites like Coinbase.  

I used an ATM once just for the novelty of it, but the fees are too high for me to consider buying a significant amount. I would either find a localbitcoins seller with decent rates or just use one of the large exchanges.

bitcoin machine where you can exchange cash and bitcoin which mean OP were talking about bitcoin ATM but as far as i know that bitcoin ATM still not available for some countries even in my country there are only several bitcoin ATM available but not all bitcoin users able to use it because those ATM only available in the big cities however i heard that the fees was pretty high rather than exchange bitcoin in the internet that's why some people more prefer to buy bitcoin in the internet

The machines have pretty big fees, and probably will require some sort of id identification.

I would prefer buy in Internet, it is cheaper at least.

Bitcoin ATMs have fees ranging between 5% to 15% for each transaction and when I buy through Localbitcoins (direct purchase from the individual seller), there are no such fees so I would not prefer Bitcoin ATM if I am in my own city or the country. However, I think it's a good idea for travelling with less cash in the countries where there are lots of merchants accepting payments in Bitcoin. Thus it makes easier to spend Bitcoins in those countries where I would choose it in that case.

i always prefer buying bitcoins through online because it has only minimal fees and its less hassle. Bitcoin machine nearby in my place have so much fee for buying some coins but i like the idea that bitcoin now have also physical atm to use for convenience.

There are at least two machines that I know of from where I belong but since they are located in a different city from where I work, I haven't found the need to use them for bitcoin purchase. The net is always there and it is much cheaper to buy bitcoin from a local exchange than from a bitcoin kiosk machine. But it would be nice to try using it before it gets transferred to another place, or if discontinues its service.

I would rather buy my Bitcoin online. I have a Bitcoin ATM about 10 kilometres from my house and the fees they charge for buying Bitcoin is enormous when compared to sites like Coinbase, Localbitcoin and the like. The ATM charges me 10.00% when buying Bitcoin and selling it -0.50%. 10% is an enormous fee, even for Bitcoin ATMs. But saying that, the machine is very handy for me as I often pass by the machine on my way to work. If for example, one day I forget my wallet I can withdraw money from the ATM using my Bitcoin. I have had such a problem frequently and I have always been able to solve them using Bitcoin and that ATM. However, as I said before, the fees are astronomical

Either of the method has a good benefits but for me, it is better to use the machine for security purposes. Yes it requires so much effort and time but it surely would give you assurance that the money you have will be on the palm of your hands. One click from the internet would definitely make your life easy but it can also make it dangerous for there is so much of a scam in different sites now. Money is hard to earn so it deserves to be kept and taken care of.

I don't know of any bitcoin ATMs near me, so internet is the only option for me currently.  If the fee wasn't too high, I'd probably try an ATM though (at least once).

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Depends on how I need the money. In our country, we mostly use one exchanger to exchange Bitcoin into cash but that takes time sometimes, a day. So basically we wait, but if there are these kind of machines here in our country, I will gladly use that kind of exchanging my cash, atlest I can't wait.