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Title: Can more ATM's increase adoption for Bitcoin? Post by: phillymogul on September 22, 2019, 03:33:02 PM https://i.ibb.co/WBgt52n/bitcoin-atm-vietnam.jpg
We know consumers love ATM's and the convenience. Would you buy Bitcoin at ATM or nah? Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: mk4 on September 22, 2019, 03:42:15 PM I wouldn't. The price premiums for ATMs are just too much for my taste. Though buying and selling bitcoin anonymously through some ATMs that doesn't require KYC and doesn't have CCTV cameras is great though.
As for adoption, probably a bit? At the least the ATMs make people curious on what bitcoin is, and it gives bitcoin more legitimacy. Though it probably might not help a lot in terms of adoption, it still helps I guess. Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: phillymogul on September 22, 2019, 03:54:41 PM It does makes you wonder who is the target audience?
Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: avikz on September 22, 2019, 04:05:41 PM No! Unless the ATM companies give up the premium they are taking from each transaction! I personally wouldn't prefer to use a crypto ATM unless I have some emergency! I would always prefer p2p route because it provide a lot better pricing!
However, there's a positive side of crypto ATMs as well. An increasing number of crypto ATMs would make a lot of people intrigued about cryptos! Especially those, who are not exposed to it yet! Probably some of them would inquire about it, would probably do some google search and try to understand the cryptos. So such ATMs can make some indirect impact. But the chance of direct impact on adoption looks really feeble! Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: mk4 on September 22, 2019, 04:29:13 PM It does makes you wonder who is the target audience? I really don't know for sure, but probably those people who aren't willing to expose their identities by using exchanges that requires KYC? And probably those who doesn't know that exchanges like Coinbase exists. Just my guess though. I've always thought bitcoin ATMs would die out because of the price premiums, but more are actually appearing in various places; meaning that there's actual demand there, which definitely surprised me a lot. Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: cabron on September 22, 2019, 04:38:38 PM Some people from this forum probably doesn't buy BTC on ATMs unless there is an ATM located nearby. I knew someone doesn't do that, I asked him as there is an ATM about 5 mile drive away from his parents house. He don't do that but just try earning some coins thru gambling and bounty instead. If there is a bullrun however, I'm sure people will try to reach a 24hour drive ATM just to buy some BTC. Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: The Sceptical Chymist on September 22, 2019, 04:56:47 PM Though buying and selling bitcoin anonymously through some ATMs that doesn't require KYC and doesn't have CCTV cameras is great though. Can you actually buy bitcoin anonymously at any of these ATMs? How is that possible aside from feeding the machine cash? I didn't think any of these things operated that way, but then again I've never used one. I don't even know where the nearest one is to me.Also, what does "top up successful" mean? Does that mean that your address received the coins? The only time I've ever heard the phrase "top up" is with regard to minutes on a cell phone and the like. Maybe it's a phrase that's not used in my country. Though ATMs are convenient, for me it's not worth buying bitcoin from ATMs regularly because the buy and sell rates are significantly higher than bitcoin exchanges. I definitely see your point, although I think I'd use them anyway. Hell, I used to buy bitcoin (and doge) from wesellcrypto.com, which had quite the markup--and the sad part is that had I kept all the bitcoin I'd bought from them, I'd have made incredible profits. That was some time ago. ATMs are very convenient, and if I had one in my neighborhood I'm sure I'd use it. What I'm not sure of is whether anyone who isn't already into crypto would.By the way, how do you buy bitcoin from the Vietnam machine pictured in the OP? Do you put cash into it like a soda vending machine or do you have to use a credit/debit card? Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: shield132 on September 22, 2019, 05:10:55 PM To be fair, no and let me explain why:
1. Current Bitcoin ATMs, each of them has huge fees which makes it very impractical to use, doesn't worth paying 10% and higher fees to just withdraw bitcoin, lower it up to 2% and that will be a whole different situation. 2. You can easily convert Bitcoin into USD with attractive rate and then withdraw from any ATM with your card, for example take XAPO, I mean service similar of them and such services are growing, in some countries even banks offer you crypto exchange. So that sounds more practical for me rather than sending bitcoin from your wallet to btc ATM. I think these two reasons are valid against your question. Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: Artemis3 on September 22, 2019, 05:11:07 PM https://i.ibb.co/WBgt52n/bitcoin-atm-vietnam.jpg We know consumers love ATM's and the convenience. Would you buy Bitcoin at ATM or nah? I wouldn't, and i don't recommend anyone to do so, unless they are desperate for cash and don't have access to a bank account. Its far more cheaper to go online exchange the bitcoins and have that fiat deposited in your bank (from which you could withdraw at their atms or use a debit card). Anyway yes, they could increase adoption, if only because they happen to be ad signs. As i have written elsewhere, ironically those ATMs are useless where the fiat has gone the hyperinflation spiral. It is a physical problem, given the amount of useless banknotes they would need to carry, they simply become unfeasible. They could, at best, transfer money to your bank account, and then doing that online would have been many times cheaper. Unless you haven't noticed, yes, i consider the fees Bitcoin ATMs ask horrendous, worse than credit cards. Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: bL4nkcode on September 22, 2019, 05:17:45 PM Increase adoption? Maybe? but not that much, it will help to spread awareness on what BTC is though and for free marketing. Even though I never have seen any ATM in my country though there are some already, but never think that I will use them to buy some.
Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: stompix on September 22, 2019, 05:25:57 PM By the way, how do you buy bitcoin from the Vietnam machine pictured in the OP? Do you put cash into it like a soda vending machine or do you have to use a credit/debit card? The small slot with red lighting is for inserting the cash, it looks like the basic ultraviolet scanner to identify fake bills. I don't see anything that would fit a credit/debit card on that thing. Can you actually buy bitcoin anonymously at any of these ATMs? How is that possible aside from feeding the machine cash? That's the anonymity, you stuff some bills in, tell it where to send your coins and if you're below a certain amount (depends on the country) they won't ask you for any documents. I know for certain that in the Czech Republic and Poland you can buy for under 100 euros (at least, no sure on the max) with no id. Also, I wonder how old that ATM is, sure looks like it had been through some rough times..and the location.... ;D Privately owned by the local owner? Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: Artemis3 on September 22, 2019, 05:34:11 PM By the way, how do you buy bitcoin from the Vietnam machine pictured in the OP? Do you put cash into it like a soda vending machine or do you have to use a credit/debit card? The small slot with red lighting is for inserting the cash, it looks like the basic ultraviolet scanner to identify fake bills. I don't see anything that would fit a credit/debit card on that thing. Can you actually buy bitcoin anonymously at any of these ATMs? How is that possible aside from feeding the machine cash? That's the anonymity, you stuff some bills in, tell it where to send your coins and if you're below a certain amount (depends on the country) they won't ask you for any documents. I know for certain that in the Czech Republic and Poland you can buy for under 100 euros (at least, no sure on the max) with no id. Also, I wonder how old that ATM is, sure looks like it had been through some rough times..and the location.... ;D Privately owned by the local owner? For credit/debit it needs an iso7816 reader, but most importantly, banking support, and this is the biggest obstacle. The ATMs can easily be taking pictures of you. Maybe not the ones you tried, but i expect them to do it either verbosely of secretly, just to "cover themselves" in case of a legal investigation. The camera might be on the atm itself, or nearby. Usually they have cameras pointed at them, just to "deter vandalism"... Just like most bank atms take pictures or video of you all the time, so can these. Cameras are very easy to conceal nowdays, don't expect to notice them. Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: hatshepsut93 on September 22, 2019, 05:50:08 PM 1. Bitcoin ATM's usually charge much higher fees than exchanges, so they're not the best for customers.
2. Bitcoin exists on the Internet, so it's actually not that important for people to buy it via an ATM - people going to use Bitcoin on their phones or computers, so it makes much more sense to buy it on online exchange, instead of physically going to an ATM. 3. Lack of ATM's is one of the most improbably reasons why Bitcoin is not being adopted now, as there are a lot of more important issues. So, no, ATM's won't increase Bitcoin adoption. Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: gentlemand on September 22, 2019, 05:50:56 PM I presume the trajectory of the average user is - buy at an ATM, research further, realise you've been raped, never return.
If they had manageable premiums and spreads then yes I think they could help. They hardly ever do. If I had a local one I could sell to that cost no more than a crypto debit card I'd definitely use it. Such a thing will never exist. Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: Ryker1 on September 22, 2019, 06:03:03 PM Well, I don't see any reasonable ideas of having bitcoin ATM's will bring and increase adoption of Bitcoin. People just like being anonymous in buying bitcoin and they have still doubt those ATM's where placed had a camera. Yes, the fees are too high and it is almost the same in the exchange or in your local exchange. I would rather buy on the internet rather go outside and paid money in front of the machine just for the buying bitcoin which is putting our lives into risk. For me, it will increase adoption but not too much.
Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: Distraction on September 22, 2019, 06:57:26 PM I don't know how many people buys and sells Bitcoin from ATMs but ATMs will make people more curious about Bitcoin and search about it. As for the adoption of Bitcoin, I think ATMs can be helpful but not much.
Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: malevolent on September 22, 2019, 07:14:02 PM Can you actually buy bitcoin anonymously at any of these ATMs? How is that possible aside from feeding the machine cash? I didn't think any of these things operated that way, but then again I've never used one. I don't even know where the nearest one is to me. Here's a map of Bitcoin ATMs: https://coinatmradar.com/ Yes, you can feed in the cash, often in bundles too. That's the anonymity, you stuff some bills in, tell it where to send your coins and if you're below a certain amount (depends on the country) they won't ask you for any documents. I know for certain that in the Czech Republic and Poland you can buy for under 100 euros (at least, no sure on the max) with no id. In Poland none of these ATMs ever ask for IDs, and the maximum withdrawal is 60k PLN, or 13.7k EUR. Minimum transaction size is usually around 100 PLN or 23 EUR. Not sure about Czech Republic nowadays. Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: DarkDays on September 22, 2019, 07:31:27 PM There are plenty of Bitcoin ATMs lying around. Practically every major city has several Bitcoin ATMs in quite convenient locations.
However, I don't think that these are the way forward. We need integration with a major chain or retailer in order to truly spur adoption. In fact, if we could get a huge retailer providing a discount for paying in Bitcoin, that would probably do a huge amount for adoption. Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: stompix on September 22, 2019, 07:49:01 PM That's the anonymity, you stuff some bills in, tell it where to send your coins and if you're below a certain amount (depends on the country) they won't ask you for any documents. I know for certain that in the Czech Republic and Poland you can buy for under In Poland none of these ATMs ever ask for IDs, and the maximum withdrawal is 60k PLN, or 13.7k EUR. Minimum transaction size is usually around 100 PLN or 23 EUR. Not sure about Czech Republic nowadays. Mistype, lols, I was trying to say 1000. I haven't used one since quite a time, and by that time the yellow ones from GB had a limit of 5k PLN after which you had to scan the ID.. I have hard about the new shitcoinsclub atm's that have invaded all of eastern Europe with their no limits no id nothing but I tried to stay away from them, they are quite shaddy, their former exchange is almost dead, they have changed 2 times what company was responsible for the atms in Germany until they've gone back to the polish one...neah...I have a feeling they will get more attention than they wanted pretty soon. Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: malevolent on September 22, 2019, 08:09:05 PM Mistype, lols, I was trying to say 1000. I haven't used one since quite a time, and by that time the yellow ones from GB had a limit of 5k PLN after which you had to scan the ID.. I have hard about the new shitcoinsclub atm's that have invaded all of eastern Europe with their no limits no id nothing but I tried to stay away from them, they are quite shaddy, their former exchange is almost dead, they have changed 2 times what company was responsible for the atms in Germany until they've gone back to the polish one...neah...I have a feeling they will get more attention than they wanted pretty soon. Shitcoins.club is one of the two major BTC ATM networks in Poland, the other one is Flyingatom.com. Both work fine, have no KYC and a generous 60k PLN transaction limit, as long as you're not in business partnership with any of them I don't see why you should be worried. One of the people behind shitcoins.club is apparently involved in a cat and mouse game with Polish customs trying to nail him for illegal gambling operations but it's not really a concern for anyone uninvolved. Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: Kakmakr on September 22, 2019, 08:24:23 PM ATMs are part of the problem these days, because all the KYC/AML regulations that you have to adhere to are killing the pseudo anonymity of Bitcoin and it is adding ridiculous high fees to Bitcoin transactions. ATMs are making Bitcoin adoption very convenient for a lot of people who has no clue what Bitcoin is, so they could care less about high fees and anonymity. >:(
People are already used to Fiat ATMs, so the transition to Bitcoin ATMs are not a big deal for them. ;) I prefer not to convert my Fiat to bitcoins at ATMs, because I do not want my personal information logged on exploitable databases. ::) Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: LUCKMCFLY on September 22, 2019, 08:24:28 PM An ATM was installed in San Antonio del Táchira, a border between Venezuela and Colombia, as this makes the adoption much more dynamic because people usually change the local currency (Bs.S to COP) Sovereign Bolivars to Colombian Pesos, but Bitcoin has an impact deeper because the cmabio is much more beneficial because they take the equivalent of USD and from there to COP.
https://i.imgur.com/uYkYMGU.png Source: http://confirmado.com.ve/instalado-cajero-bitcoin-en-san-antonio-del-tachira/ This is one of the most moved borders worldwide, as the economic crisis in Venezuela forces people to depend totally on a deflationary economy like Bitcoin has, it is a thousand times better as the internal economy grows every day. inflation. As people get to know more and if the change is more attractive, I'm sure they will need more Bitcoin ATMs. Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: rodel caling on September 22, 2019, 09:13:25 PM It's possible to help npbitcoun mass adoption displaying a lot of bitcoin ATM any place of the city's which bitcoin legallyin every country. Maybe 30 to 40 percent of the people in very city's in every possible to encourage what is bitcoin ATM all about and possible to start asking and leaenig what is bitcoin as new money.
Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: Bountyhonter on September 22, 2019, 09:13:33 PM I wouldn't leave the convince of my room just to make a transaction on an ATM when it can be done on any device in my room using p2p exchanges with less fees.
Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: TimeTeller on September 22, 2019, 09:21:00 PM I wouldn't. The price premiums for ATMs are just too much for my taste. Though buying and selling bitcoin anonymously through some ATMs that doesn't require KYC and doesn't have CCTV cameras is great though. As for adoption, probably a bit? At the least the ATMs make people curious on what bitcoin is, and it gives bitcoin more legitimacy. Though it probably might not help a lot in terms of adoption, it still helps I guess. Maybe you are saying that because you know how to deal with crypto in a better way. But for those ordinary individuals who want to check on bitcoin, it is a good way to introduce it to them. Within a hand's reach, people will gonna check this local atm and experience for themselves. I do agree that it gives more legitimacy and they can actually see a bitcoin machine now, where it is only an imagination before. It might help in adoption one way or another. It is another means of introducing it to the public. Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: malevolent on September 22, 2019, 09:33:34 PM I wouldn't leave the convince of my room just to make a transaction on an ATM when it can be done on any device in my room using p2p exchanges with less fees. Then I don't think you're the target audience, if you exchange bitcoins for money or vice versa and use banks, PP, or other financial services your exposing yourself to everyone who has access to the records these companies are forced to keep. Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: pixie85 on September 22, 2019, 09:39:51 PM One of the people behind shitcoins.club is apparently involved in a cat and mouse game with Polish customs trying to nail him for illegal gambling operations but it's not really a concern for anyone uninvolved. Right, Poland :D One of the countries where playing poker for money is illegal. I hope they won't get him. Prosecuting people for gambling is like prosecuting them for downloading a movie from torrents. It achieves nothing and only wastes taxpayers money. ATMs are great and I hope their numbers keep growing. They are a much better option than going through a personal bank account and do a good job promoting BTC. I saw people approaching them just to find out what they're for. Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: lighpulsar07 on September 22, 2019, 09:51:56 PM Well yes definitely. In that way, people can easily access their bitcoin wallets and get their cash instantly or use it on bitcoin accepted stores without going to the banks and questioning where did the money come from? or any verifications that the money they received on the account wasn't a dirty money and also, this will attract more users to buy bitcoin anyway, this bitcoin adoption is taking a whole new level and i would like to see a bitcoin atm in my country someday.
Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: milewilda on September 22, 2019, 09:59:51 PM We know consumers love ATM's and the convenience. Would you buy Bitcoin at ATM or nah? I did try out to purchase one but that atm is located on the capital city of our country which is far from my hometown but when i traveled to that place i have the chance to buy up just to explore on how this machine works and yes fees is higher.For adoption, i cant say its total useless yet curiosity would always comes after. Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: TravelMug on September 22, 2019, 10:27:00 PM We know consumers love ATM's and the convenience. Would you buy Bitcoin at ATM or nah? Number one disadvantage is the fee, it's too expensive for average joe to buy, in my opinion. I'm sure those transacting thru bitcoin ATM's are either a noob, or you are in hurry to purchase or just want to get the experience of using a ATM. One advantage though is security, no need to go face-to-face with someone you don't know and the not take the risk of being "physically" assaulted, if you know what I mean. Lots of criminals roaming around the crypto world so if you are paranoid about security, maybe bitcoin ATM is for you. For those who are interested what the data are, https://coinatmradar.com/ Quote 5595 Crypto ATMs in 74 Countries Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: Bitcoininvestment on September 23, 2019, 01:10:12 AM I think bitcoin ATMs doesn't really help in increasing adoption. I just don't think it can help a lot in increasing adoption. Maybe passers-by who will see ATMs might get curious about it but probably wouldn't try or use it.
I haven't seen an ATM for bitcoin here in my country. It would be fascinating to see one. But I don't think I would buy bitcoin using it... Though I want to see one in person. Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: bryant.coleman on September 23, 2019, 01:15:52 AM With so many Bitcoin ATMs in existence and a growing user base, it is just a matter of time before the authorities turn their attention towards them. Already there were reports from Vancouver about the politicians accusing the ATMs as "money laundering vehicles". They have already forced the cryptocurrency exchanges to fall in line and the next target is going to be the Bitcoin ATMs. And in some of the third world countries (such as India), the ATMs have been banned all together.
Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: Zemomtum on September 23, 2019, 01:21:10 AM This will indeed increase the adoption base. Most people that are still doubtful will clear their mind when they can see ut openly on the ATM across the cities. Besides, there are still some countries that access to the internet is still a big deal, so ATM will bring BTC nearer to the less privileged people.
Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: Oasisman on September 23, 2019, 02:14:54 AM I have never seen nor experience how to use these ATM's, but I would be glad to try it in the future, yet I have the feeling that I have to stick on my local exchange for regular transactions, since ATM may have extra charge with every transactions more than my local exchange does.
On the other hand, ATM's will somehow expand the adoption most specially to those people who never turned their attention to crypto currency. Looking at the machine will make them think how this technology is conquering the financial aspects in the market, might as well make them get interested in crypto currency. Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: mk4 on September 23, 2019, 03:33:33 AM Though buying and selling bitcoin anonymously through some ATMs that doesn't require KYC and doesn't have CCTV cameras is great though. Can you actually buy bitcoin anonymously at any of these ATMs? How is that possible aside from feeding the machine cash? I didn't think any of these things operated that way, but then again I've never used one. I don't even know where the nearest one is to me.I really have no idea, because I don't have first-hand experience either. Though I've read a multiple times on social media and on Reddit r/bitcoin that some ATMs really doesn't have CCTV cameras, and doesn't really require identification unless you're buying selling a bigger amount(probably $200? just my guess). This is most likely outside of the US though. Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: oaz7t on September 23, 2019, 04:04:27 AM Not really. Last time I checked the condition was worst in India. They all ended up predicting that this will increase the black money adoption and no one knows why they started thinking in that way. I mean, bitcoin is just a digital currency with unconditional way of transacting (almost).
Few of the parts in India installed the ATM's and all of them were ceased by government by calling it as "Unregulated ATM's". Though India does not even covers any laws to regulate the digital money transaction properly. (Reference :https://www.business-standard.com/article/economy-policy/india-lacks-laws-to-protect-customers-of-digital-transactions-experts-116120300744_1.html) But on the far side of earth, there are huge number of ATM's making things great in different way. The balance should overflow the use of ATM's to make realise people that " Yes bitcoin is another dimension which is accessible " Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: UVUcoinBull on September 23, 2019, 04:16:59 AM Our project believe in ATM with low fee ccuniverse (http://ccuniverse.org). It should help people to buy Bitcoin and crypto without exchanges which are not so satisfied as they should! Many of it in non-english , non-asia countries are very low quality and not secure and not safe.
ATM are the way to ignore it and feel good with buying and selling crypto. https://i.ibb.co/K2GVYZm/reklama01.png (https://ccuniverse.org) Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: NeuroticFish on September 23, 2019, 09:50:47 AM We know consumers love ATM's and the convenience. Would you buy Bitcoin at ATM or nah? I do like convenience, I even bought Bitcoin from ATM in the past, but now I would probably not buy anymore because there are plenty of other methods and ATMs usually have among the highest fees. On the question from the title, I would also say no. People already know about Bitcoin. They think that's a risky investment and.. not much else. I think that more shops showing "Bitcoin accepted here" would do better at this phase. A new wave of ATMs can come afterwards. Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: nicecrypto on September 23, 2019, 10:58:16 AM To some extent yeah, I believe it will increase more adoption, having a btc atm around will most likely make people want to boycott the hassle of going to the bank and just opt for crypto, it will even increase the demand for crypto cards, and bring more people into crypto community.
Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: qwertyup23 on September 23, 2019, 12:21:09 PM <snip...> We know consumers love ATM's and the convenience. Would you buy Bitcoin at ATM or nah? It depends but currently, the adoption for Bitcoin ATMs will have little to no effect. The problem with ATMs are not the units but the transaction fees every time a person attempts to withdraw their bitcoins. Rather than using the ATMs, people would save more when they withdrew using other options provided in their respective local exchanges. Just to give you an example, in the Philippines, there exist 2-3 bitcoin ATMs but no one seems to transact and use the machine. The adoption of every ATM will be the ideal scenario but until the fees are high, the implementation may only cause the opposite effect. Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: The Cryptologist on September 23, 2019, 12:54:03 PM Yes, because its exposure will help to convince people who will see it like it will be the norm in the future and they would definitely check it out if they haven't even heard of bitcoin. But that adoption is not huge as what I think it is average people don't frequently go to atm's and some will do transaction once every month to get their salary. Blockchain and wallets on popular brand of smartphones is still one of the best and key factor to increase adoption rapidly.
Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: DoublerHunter on September 23, 2019, 02:30:11 PM Probably it will have an effect of adoption but just a little, crypto enthusiasts probably now how the cost of transaction fee on ATM's machine and I dunno if they prefer to use this ATM's machine or in a convenient way on a local exchange which very fast. It will bring exposure but I don't think about increasing the adoption. Nevertheless, there are too many local exchanges now that you can buy and sell bitcoin at a lower price cost. But who knows after how several years ATM machine are everywhere we can use.
Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: FlamingFingers on September 23, 2019, 07:05:11 PM More bitcoin ATM will go a long way in hasten the adoption of bitcoin. If only this can be put in place, more points of acceptance will be awesome, I believe that all this is gonna be a talk by in future because we are still early stage and bitcoin still got a long way to go
Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: Artemis3 on September 23, 2019, 07:18:03 PM There are plenty of Bitcoin ATMs lying around. Practically every major city has several Bitcoin ATMs in quite convenient locations. However, I don't think that these are the way forward. We need integration with a major chain or retailer in order to truly spur adoption. In fact, if we could get a huge retailer providing a discount for paying in Bitcoin, that would probably do a huge amount for adoption. When a bank embraces bitcoin and becomes payment processor or exchange, and adds bitcoin to their regular ATMs, then they may become more attractive. In the meantime, internet is the best source of bitcoin. The other way is when the exchange becomes bank like, and starts handling fiat. But there is so much regulation, so i don't know if the likes of Coinbase could set up ATMs. Thing is an ATM is a type of exchange from to fiat, and the fiat handlers are those banks. I see little point for Bitcoin ATMs at the moment, again, maybe if the banks finally embrace bitcoin, which i think will start happening sooner or later anyway. Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: gentlemand on September 23, 2019, 07:33:05 PM However, I don't think that these are the way forward. We need integration with a major chain or retailer in order to truly spur adoption. In fact, if we could get a huge retailer providing a discount for paying in Bitcoin, that would probably do a huge amount for adoption. It would have to be a HUGE discount to spur otherwise indifferent people into taking the plunge, and even then one bad morning's market action and whatever discount they thought they were getting can be wiped out and then some before they spend it. I'll guess most retailers are on such thin margins there's no way they could afford to offer anything that would compel people to look deeper. Retail is a dead end. If it ever does happen it's going to be the final thing to fall into place, not one of the first. People who already own it don't want to spend it. People who are yet to arrive won't have the slightest interest in buying something so they can buy something else. Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: bright4mech on September 23, 2019, 11:23:38 PM This a very good one, by sharing the ATM Machine picture, and that we create many people into crypto, by investing trading etc,
Therefore bitcoin is a digital asset, nothing much to say is that bitcoin is real money in a digital form. Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: leowonderful on September 23, 2019, 11:36:23 PM I've actually used several of these over the years I've been active using Bitcoin. Fees can be somewhat high for selling and buying, though, so watch out. CoinATMRadar shows fees for the kiosks and ATMs around you, and they can vary from something like 6% to even 13-15%. Many of the ATMs I've spotted in the U.S don't require any sort of verification for smaller sums of money and then perhaps some form of I.D over that amount. Pretty convenient if you want some Bitcoin quick, but you don't want to go through KYC.
I do believe these are increasing adoption for Bitcoin at least somewhat, but likely not by much. Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: meanwords on September 24, 2019, 01:22:23 AM ATMs does increase adoption and helps advertise Bitcoin to the public. To be honest, I wouldn't use ATM because anything could happen. I don't want people knowing that I have cryptocurrency in me. There's a lot of news and things going on around that cryptocurrency owners are getting kidnap or something like that. Using ATM risk my security.
Nonetheless, it helps with the adoption in my opinion. Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: rdbase on September 24, 2019, 01:27:04 AM They certainly can promote adoption! This is from a post I made a while ago with a crypto atm located in the middle of nowhere in the jungle of central america! 8)
This has to be the most remote location for one of these atms to be located in the middle of the jungle of central america. ;D https://i.ibb.co/F3bGsYf/y5ky76yanfi01.jpg (https://ibb.co/xLSVmgc) https://www.reddit.com/r/mildlyinteresting/comments/807wnk/this_bitcoin_atm_in_the_middle_of_the_costa_rican But I can still see people using it since it is a tourist destination and if they can get it powered by electricity then it has to be near some sort of resort. Dont know if it is on the atm locator as some users have mentioned with most of them being on a map to find where the closest one to you might be. Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: Reid on September 24, 2019, 03:19:56 AM Out of curiosity then Yes.
I have never tried one and I will be willing to sacrifice a minimum amount to deposit if ever there is just so to try this out. But, with the second one, I doubt I will do it again specially if there is a fee which is higher than any exchange where you could also deposit at a better price difference. We know there is a huge difference already with the buy and sell amount and this might also have the same thing with just a different number and could be expensive. Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: CryptoBry on September 24, 2019, 03:40:58 AM Generally speaking, Bitcoin ATMs can be helping a lot towards more adoption and usage of cryptocurrency. Plus, ATMs can be good advertising tool for the said coin and cryptocurrency as a whole. Now, I am not saying that we should only rely on this tool but certainly there is no question these machines can be contributing as we are here talking about fast and easy access to either buy or convert Bitcoin. I am even hoping that here in my country there can be more additional of these machines especially in bigger cities where the populations are more than a million. Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: EdvinZ on September 24, 2019, 05:23:32 AM Certainly, the more there will be Bitcoin ATMs in the world, the greater will be the distribution of digital currency. It’s more convenient for some people to buy something offline. In addition, the ATM itself, installed in a crowded place, is a direct advertisement of Bitcoin.
Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: bitbunnny on September 24, 2019, 06:47:29 AM I'm not sure. At the begininig Bitcoin ATMs were very popular and in short period of time couple of them emerged in my country.
But these days people have more ways to get Bitcoins not to get out of the house so I think ATMs are losing popularity. I'm not saying we don't need them but I don't think they might influence addption significantly. Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: jrrsparkles on September 24, 2019, 08:27:04 AM For sure it will be helpful for the people to identify what is bitcoin but it is not the most convenient way to buy bitcoin when you are in need of huge amount of bitcoin or having fiat of other country.
Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: boris2470 on September 25, 2019, 07:37:32 AM https://i.ibb.co/WBgt52n/bitcoin-atm-vietnam.jpg We know consumers love ATM's and the convenience. Would you buy Bitcoin at ATM or nah? I have never used a Bitcoin ATM to buy coins. I know there is a more inflated BTC price than on the exchange. However, for regions like Venezuela, Argentina, Africa, this is a necessary way to buy BTC. Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: shoreno on September 25, 2019, 07:42:48 AM why almost any bitcoin atm's that i see are seem to be dusty or look old ? and also they are only being placed on a not orgainzed area ? but i know not all are doing like that but seeing some that are only being treated like this always breaks my heart . sorry for emoting but by the way to answer the topic , i dont think that btc atm's can increase adoption . its useless if there are btc atm's but people dont have a cash to afford a btc although this atm can bring convinience which is still helpful afterall .
Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: romero121 on September 25, 2019, 07:58:48 AM https://i.ibb.co/WBgt52n/bitcoin-atm-vietnam.jpg We know consumers love ATM's and the convenience. Would you buy Bitcoin at ATM or nah? I have never used a Bitcoin ATM to buy coins. I know there is a more inflated BTC price than on the exchange. However, for regions like Venezuela, Argentina, Africa, this is a necessary way to buy BTC. Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: cheezcarls on September 25, 2019, 10:39:58 AM I did made a transaction in a Bitcoin ATM before in a Singapore mall. I do believe that these Bitcoin or cryptocurrency ATMs are regulated. For now, we are still very far away from massive adoption even with the rise of Bitcoin ATMs worldwide.
But not a bad start either too, it’s just that people need to be aware about Bitcoin. It only has little impact right now, as most people would prefer cash than paying in crypto. The only way for people to finally shift into Bitcoin is by keep educating them about the real use cases and not focusing on the negative news being published by the media. Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: shark1006 on September 25, 2019, 11:31:56 AM https://i.ibb.co/WBgt52n/bitcoin-atm-vietnam.jpg We know consumers love ATM's and the convenience. Would you buy Bitcoin at ATM or nah? I do not use Bitcoin ATMs, I find it dangerous to use physical replenishment. Better use the services of an exchange or online wallet Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: nienzer on September 25, 2019, 12:08:36 PM It does makes you wonder who is the target audience? I think the target audience are beginners who want to get Bitcoin for cash for sure. Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: bering on September 25, 2019, 12:54:18 PM Having bitcoin ATM indeed will very helpful to the people because people can convert their bitcoin without register and provide their real identities but i'm not sure this is could be good solution to increase adoption for bitcoin because as far i know there is no significant effect for bitcoin development in the countries who have plenty of bitcoin ATM but based on my experience that several years ago there was several ATM available on my country buy eventually thosr became to lack of interest and people are more likely to convert their bitcoin through an regular exchange rather than using ATM
Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: elisabetheva on September 25, 2019, 01:46:54 PM For sure it will be helpful for the people to identify what is bitcoin but it is not the most convenient way to buy bitcoin when you are in need of huge amount of bitcoin or having fiat of other country. I strongly agree with your opinion that this tool is not the best solution for buying and selling bitcoin, because there are many easier and accountable ways.to introduce bitcoin is possible, but there might be a better and simpler way to explain it. Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: fullhdpixel on September 26, 2019, 05:27:43 AM [im g]https://i.ibb.co/WBgt52n/bitcoin-atm-vietnam.jpg[/img] All those ATM will be useless if we don’t have people to use them, and the way it can get people to use them is through adoption which I don’t think the installation of this machine will have any big impact on cryptocurrency adoption, the only way that I see it having little effect is just to retain the present adopters, because for any bitcoin ATM to have been installed in a location, it is sending signal already that there is an approval for it and whatever have gotten an approval from authority, surely must have been of interest to them, which this is enough to hold that the government of that particular country or state where bitcoin ATM is being installed is supportive of bitcoin, but when it comes to adoption, I don’t really think that the creation of this machine is enough o create awareness for adoption.We know consumers love ATM's and the convenience. Would you buy Bitcoin at ATM or nah? Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: samcrypto on September 26, 2019, 05:38:44 AM For sure it will be helpful for the people to identify what is bitcoin but it is not the most convenient way to buy bitcoin when you are in need of huge amount of bitcoin or having fiat of other country. Not a convenient and safest way to buy bitcoin but it is still a good way to discover bitcoin. If there’s a lot of ATM on a safe place and treated legally by the government or any individuals for sure it can affect the adoption and the market can rise again. In my place, ATM’s are growing and many banks shows their support for cryptocurrency.Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: nankers on September 26, 2019, 10:03:18 AM Can more ATM's increase adoption for Bitcoin? Of course not, adoption bitcoin relating to the legalization of bitcoin. ATM's Bitcoin is the result of adopting bitcoinWe know consumers love ATM's and the convenience. Would you buy Bitcoin at ATM or nah? Once again i said no. In my country ATM Bitcoin very far. because of this I have never buy Bitcoin (even used) in Bitcoin ATMTitle: Re: Can more ATM's increase adoption for Bitcoin? Post by: crypthough on September 26, 2019, 05:56:12 PM I think that more BTC ATM's could increase the adoption, due to the simple presence. If people see a BTC ATM they get automatically in contact with BTC. They don't have to buy BTC now, but they will wonder about what it is and do maybe some research and it's an easy way to buy BTC for beginners. Furthermore, it's similar to fiat ATM's and people are used to use fiat ATM's. The new, unusual thing "BTC" combined with something usual could decrease the fear of buying BTC which beginners often have.
Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: Sanitough on September 27, 2019, 05:33:12 AM It will help as we are showing to the public about bitcoin ATM, that will create awareness for them.
In our country, bitcoin ATM is only limited in numbers but I'm hoping it will increase in the long run, also, we have our local exchange that has a lot of bank partners so we can easily convert our BTC to fiat and withdraw it in any fiat ATM. I think this bitcoin ATM would be more helpful to those travelers from different countries. Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: jakoylantern on September 27, 2019, 05:49:30 AM https://i.ibb.co/WBgt52n/bitcoin-atm-vietnam.jpg We know consumers love ATM's and the convenience. Would you buy Bitcoin at ATM or nah? For me, yes more ATM's will and can increase adoption for bitcoin. When some ppl see this kind of ATM, they will be curious what this ATM will do so that they will research about bitcoin and some basics stuff about bitcoin. Curiosity will push them to know what is a cryptocurrency, and there was a probability that they will become a user of bitcoin. :) Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: Leonardo7 on September 27, 2019, 01:56:40 PM I will never buy bitcoin at the ATM machine because I can always get it cheaper in Peer-Peer exchanges and save cost. It should be reserved for them that don't know their way around other means of buying and selling bitcoin with fiat. Bitcoin ATM will enhance inclusive participation in bitcoin investment by the public, because of ease of conversion.
Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: YuginKadoya on September 27, 2019, 02:43:51 PM I will never buy bitcoin at the ATM machine because I can always get it cheaper in Peer-Peer exchanges and save cost. It should be reserved for them that don't know their way around other means of buying and selling bitcoin with fiat. Bitcoin ATM will enhance inclusive participation in bitcoin investment by the public, because of ease of conversion. Let's just look at the convenience of an ATM to our lives? In just one tap you can then claim money and with ease, it can slightly just help increase the price of bitcoin on one point but it, in my opinion, it can decrease the price as well, In my opinion it can be a two-edged sword, we can say that it will depend on the situation and the needs of people, If the curiosity strikes people then a critic can turn to an enthusiast when seeing ATM's like these and it can at one point decrease the price because it is convenient, And now newbie would think of Bitcoin and other cryptocurrencies as just fiat money and might always try to get money on the Bitcoin ATM, then Bitcoin ATM's would instantly convert Bitcoin to fiat then a dump has been made imagine many people would do this and in a holiday season. Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: jake zyrus on September 27, 2019, 02:46:26 PM Bitcoin ATMs were primarily made for bitcoin users, to make it easier and convenient for them to make transactions and not for increasing the adoption of bitcoin. The appearance are just like the traditional one so some people might not notice their difference. But I'm not erasing the fact that it can help in adoption. It would be better to place it somewhere a lot of people can see.
Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: Upgate on September 27, 2019, 02:50:46 PM I have bitcoin only in investment qualities and I am holder so bitcoin ATM would not be my priority. However it will help the growth of bitcoin very much when people find it easy to use bitcoin ATM at a very close location
Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: DaftAjax on September 27, 2019, 03:13:20 PM It will help as we are showing to the public about bitcoin ATM, that will create awareness for them. In our country, bitcoin ATM is only limited in numbers but I'm hoping it will increase in the long run, also, we have our local exchange that has a lot of bank partners so we can easily convert our BTC to fiat and withdraw it in any fiat ATM. I think this bitcoin ATM would be more helpful to those travelers from different countries. Randomly offering a bitcoin ATM is a bad idea. It has to start with a country-wide (if possible) announcement, preferably "the government". Not all citizens of a certain country are familiar with Bitcoin or the Blockchain itself. So, informing the citizens is going to be the most important step in order for a country to fully realize and utilize this unfamiliar platform. But at the current situation right now, I think this seems to be impossible to certain countries. They're more focused on growing their own economy rather than adopting another form of transaction to play in their economy. Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: thunderbitz2717 on September 27, 2019, 03:53:30 PM ATM for bitcoin was only applicable to those Bitcoin fanatic or enthusiast, the people might get curious only if they find out that someone is withdrawing money through bitcoin using their atm account I guess. But it cannot help to increase the mass adoption for bitcoin, it can't give any help at all in the end.
Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: leexhin on September 27, 2019, 04:15:01 PM I don't think these kind of idea is making sense since the bitcoin is volatile there will be more or less of fee every time the price of bitcoin moves. And it's hard for banks to regulate this kind of cryptocurrency where speculation is the core therefore the price isn't controlled unless there will be some policy that limits the bitcoin transaction per day. Hence for me this wasn't a good idea.
Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: Pab on September 27, 2019, 04:37:23 PM Sure.will be great to have double way bitcoin ATM.There is very few of them in my country
But people are not using them much because cameras are registering his faces and transactions So it is not so much anonymous that way Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: jsizar on September 27, 2019, 04:39:05 PM In the 2019 nobody is using cash. More merchants thats agree to work with crypto or more visa/mc crypto cards will help with mass adoption
Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: teosanru on September 27, 2019, 04:49:33 PM https://i.ibb.co/WBgt52n/bitcoin-atm-vietnam.jpg Definitely ATM would bolster up the use of BTC. Who wouldn't want to withdraw cash directly from their BTC Wallet in case of need. The problem with such ATMs as of now is just Legality. Last I remember that an Indian exchange tried to set up an ATM in Bangalore and the very next day Reserve Bank of India arrested the CEO of that exchange and he is still serving a sentence. The problem was using the word ATM because ATM can only be opened with a prior permission from RBI. This changed it into a criminal suit and was fed up by charges such as fraud and unfair use of people's money etc. So I would say bitcoin ATM is a wierd idea all in all.We know consumers love ATM's and the convenience. Would you buy Bitcoin at ATM or nah? Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: Ken_terrance on September 27, 2019, 05:12:11 PM Better payment options and services is still needed if bitcoin is going to see better adoption rate, more ATM machines won't make a difference, i believe that if bitcoin can get into paypal business them it will be better but with time we will see how far bitcoin can go
Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: Artemis3 on September 27, 2019, 08:00:54 PM I have never used a Bitcoin ATM to buy coins. I know there is a more inflated BTC price than on the exchange. However, for regions like Venezuela, Argentina, Africa, this is a necessary way to buy BTC. An ATM is useless here, and as i found online, the only one exists in a border city, perhaps using foreign currency. My country leading Localbitcoin transactions isn't a coincidence, even their commission fee is a bit too high for daily use (ie. under 1 USD purchases), but the typical rates used by ATMs are unacceptable. AND, it is physically unfeasible, as a single transaction would either empty or fill the ATM's safebox. Banknotes become paperweight in hyperinflation and you'd need a box of those to buy a simple thing, not even purchasing an appliance but perhaps a meal in a restaurant, or drinks in a bar... Yes, i like how they project the BTC logo to the masses, but perhaps a sign would be cheaper and more effective (ie. with the shop qrcode of the owner's Bitcoin address). Or they could do more sponsoring sports team thing. Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: drumamat on September 27, 2019, 08:22:33 PM Personally, I would use an ATM only in the case of withdrawal of bitcoin in fiat.I can buy bitcoin without leaving home.
Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: Graffitidice on September 27, 2019, 08:28:08 PM Without bitcoin being accepted in stores and perhaps offers on bitcoin buy's it wouldn't do that much of a difference, unless ofcourse it attracts people.
Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: Dread Pirate Roberts on September 28, 2019, 12:21:10 AM Not certain because bitcoin are not globally known to many people. but the ATM itself makes it easy to saving through wallet or make transactions among crypto users and withdraw their funds. but the bitcoin atm is actually already good for bringing bitcoin to the next level on currency.
Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: Ailmand on September 28, 2019, 12:34:52 AM I haven't seen any bitcoin ATM in our country yet, since bitcoin in our country is not yet as exposed as it is compared to other countries. However, I think bitcoin ATM requiring KYCs and not to mention the fees on transacting would not be beneficial for users not unless it's really an emergency. It can help with exposure, but as for adaptation, it might have a little impact. I think retail store accepting crypto or any other establishments accepting crypto can help adaptation.
Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: bitcoin31 on September 28, 2019, 12:51:14 AM I did not experience using ATM to buy bitcoin because the ATM machine is far my place but we have or my country.
Bitcoin ATM help for the adoption, also it help to promote this coin for the citizens of the country because we know that we love using ATM machine when we are withdrawing our money so for sure the people will be curious about bitcoin and poasible for them to become a future investors of the bitcoin. But the problems to bitcoin ATM machine when we see the rate of buying and selling it's different from the real price like more expensive of buying while the selling is very cheap. Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: ene1980 on September 28, 2019, 01:20:56 AM Sure.will be great to have double way bitcoin ATM.There is very few of them in my country The main reason people might not be using bitcoin ATM often is because of the high charges they have to pay for every transaction, if the charges are nominal people will not mind using it as you can get the best offers if you verify your identity in online exchanges and can purchase without much issue. People looking for anonymity bitcoin is not for them ;).But people are not using them much because cameras are registering his faces and transactions So it is not so much anonymous that way Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: judeafante on September 28, 2019, 01:57:12 AM https://i.ibb.co/WBgt52n/bitcoin-atm-vietnam.jpg We know consumers love ATM's and the convenience. Would you buy Bitcoin at ATM or nah? I'm definitely going to recommend it, but it's not my option right now we have our own local exchange where we can exchange our Crypto to fiat and buy cryptocurrency, but going back to your question, yes definitely ATM's increase adoption for Bitcoin, ATM's are modern way to dispatch cash it makes things look easy, and if people see that there's already an ATM for Bitcoin, they will realize that Bitcoin is not a joke or a bubble and it's here to stay. Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: CODE200 on September 28, 2019, 02:20:00 AM https://i.ibb.co/WBgt52n/bitcoin-atm-vietnam.jpg Until I have not experience it but I know in my country we already have bitcoin ATM machine where you can easily convert it into cash. I will use it to buy bitcoin because it is hassle-free unlike in exchange where you need to submit kyc or you need to create an account before you can buy bitcoin.We know consumers love ATM's and the convenience. Would you buy Bitcoin at ATM or nah? Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: matchi2011 on September 28, 2019, 02:27:12 AM but the bitcoin atm is actually already good for bringing bitcoin to the next level on currency. If more and more ATM's can be seen around each country's sides curiosity will bring more people to try and learn this new system of payment service. Every addition towards bitcoin development will help lift the popularity which can result to many more adoptions. Step by step this cryptocurrency will reached another mile of success, everything will begin with efforts that bring both interest and support from the end users around. Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: vladimirhf on September 28, 2019, 04:34:37 AM Not sure about that... could be, but it's still something that needs to evolve and gain confidence from the public. There are many ATMs from different companies and most people around the world report that fees or exchange rates are too high. Still lacks competition and a good offer of options.
Sometimes they may be useful for tourists, for an emergency withdrawal, but not for regular use. I never tried, but I heard about ATMs owned by a ponzi company, where you could only buy to "invest" in their scheme. Unfortunately the bad players may cause the opposite, being the reason for more FUD about it... :-[ Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: senne on September 28, 2019, 04:45:15 AM If you want to increase the penetration of anything, you need to work on 4 A's
In case of Bitcoin, keeping acceptability and affordability aside for a moment, Bitcoin ATM can be really useful when it comes to increasing Accessibility and Awareness which in turn will increase the penetration. This will automatically increase the acceptability of Bitcoin. Right now the most crucial part in awareness and here Btc ATM can be fruitful. Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: Flor1982 on September 28, 2019, 05:00:28 AM For the sake of convenience only then i guess the market of the Bitcoin ATM will become slow moving. Most of the banks are now supporting Bitcoin in which we can now use anytime their facilities with cheaper service fees and with the help of cellphones and other online gadgets we are more safe with our fingertip at home.
Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: akirasendo17 on September 28, 2019, 07:12:01 AM Remember bitcoin is a currency, its a lot different on some coins
for the world to adapt for bitcoin they need to accept bitcoin as currency and needs to be included as payment all over the world thats what it means by adaptation because when satoshi creates bitcoin, he dreams of it to be use all over the world and accept it but as of today only few are using it and some country bans bitcoin Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: UstadSoleh on September 28, 2019, 08:01:05 AM Are this ATM the same as a regular ATM. I just saw this ATM and I think we need a cash transaction to get into the ATM machine.
The adoption seemed to be a great solution for developing Bitcoin and crypto. But need to be aware of safety, ease people do transactions in the ATM machine. If all good and easy will certainly be more people interested to invest in Bitcoin or crypto. Perhaps with this ATM is still not able to make Bitcoin in mass adoption. But this is a positive thing that might encourage people to get to know Bitcoin. Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: funchiestz on September 28, 2019, 11:37:23 AM There are too many equations for bitcoin adaption. Most important of all, I think legal regulations. There are many cryptocurrencies-based card projects, for example. However, we cannot say that card projects are a real benefit to crypto adaption. The same applies to ATMs. The fact that ATMs create awareness. But I think it can't do more.
Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: Murat on September 28, 2019, 11:49:16 AM We know consumers love ATM's and the convenience. Would you buy Bitcoin at ATM or nah? Sadly No. Because most the Bitcoin ATM Require KYC for high Volume Trade. And I heard the price on bitcoin ATM too high from the Current Market Price. But I support ATM's because it makes people curious who have no idea about bitcoin. ATM's are the first step to get bitcoin & start using them or hold bitcoin for the future. I might start using bitcoin ATM in the near future when there will be more ATM providers. Then everyone has to run their business at a fair price. Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: ChrisPop on September 28, 2019, 12:10:12 PM Personally I wouldn't buy Bitcoin through ATMs simply because of the fee that is ridiculously high. However there are significant amounts of people who are willing to take that fee with no problems simply because they don't care or don't know about the fee. I support ATMs though due to the fact they also bring a lot of awareness to bitcoin. Think about the masses of people who go through the mall each day and pass beside the ATMs. They can't miss the bitcoin sign haha
Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: finzyoj on September 28, 2019, 12:34:13 PM We know consumers love ATM's and the convenience. Would you buy Bitcoin at ATM or nah? You know what, I would really love to if I only I have the chance but since I am living far from Makati, Philippines where you can find one of the bitcoin ATMs here in our country then I can't. Well, there's a good news for us tho, I'm looking forward to Unionbank launching more btc ATMs aalomg its branches nationwide for us to have a chance to feel the futuristic living :). The only problem I anticipate on the first time we will use such kind of machine is on how to operate it by our own but I think it wouldn't be so hard for us because I might say that crypto holders are computer literates already. It's not a big deal, we can surely adapt. Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: imstillthebest on September 28, 2019, 12:39:13 PM Personally I wouldn't buy Bitcoin through ATMs simply because of the fee that is ridiculously high. how did you know that the fee was high when you said that you didnt buy btc at btc atm. btc atm are like normal atm and they are issued by different brands/banks so i think the fee will not be the same. Quote However there are significant amounts of people who are willing to take that fee with no problems simply because they don't care or don't know about the fee. or they are rich and they can afford any fee or they dont care about the fee but as long they can buy easily on these btc atms rather than going anywhere .Quote i support ATMs though due to the fact they also bring a lot of awareness to bitcoin. if your sincer about your support then you should use one. show your support and other will be encourage to try it Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: NewBet on September 28, 2019, 04:33:01 PM Bitcoin ATMs are an extremely important infrastructure of Bitcoin. The reason they are important to the infrastructure of Bitcoin is because they offer the same thing that Fiat ATMs offer for Fiat money. we can get Fiat money by walking down the street and getting the nearest ATM to withdraw some cash from our bank account, but until today Bitcoin ATMs are rare.
Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: marcuslong on September 28, 2019, 04:38:55 PM Even if there are many Bitcoin ATM at the moment if the people can't find a way to gain from it. They even don't have care for this. But in my country they use it to pay bills, because there is a third party application that offers less hassle in paying bills, buying load and many more.
Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: ReiMomo on September 28, 2019, 06:37:29 PM My answer is Nah, I won't buy bitcoin on ATM machine that I know there is someone wall eye watching me(CCTV camera).
The transaction fee on ATM machine is quite high and almost the same in the exchange rate. So I will rather choose a very convenient way of buying bitcoin on the internet compared to ATM machines. I don't see any significant reason in increasing adoption of bitcoin by using ATM. However, it will lead to having exposure on bitcoin and probably time to time it will increase users and holders in Bitcoin. Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: seanskie18 on September 28, 2019, 08:22:24 PM Actually, in my country we don't have an Bitcoin ATM machine for now and hopefully in will happen sooner. I think ATM's increase the adoption for Bitcoin because if they see it, they will have curiousity on how it works and how to used it.
Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: Razick on September 28, 2019, 08:29:04 PM in my country we have Bitcoin ATMs and they definitely help increase adoption because people see them in stores and it spreads weariness of Bitcoin at the very least, but also many people use them to buy their first Bitcoin or even invest in more cryptocurrencies if they so choose, and they don't have to trust random people online.
Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: Orange Mango on September 29, 2019, 01:34:20 AM Would it not be cheaper to just start using bitcoin directly by accepting it rather than to have an atm to draw fiat with then go to trade?
I think if they are used it will make more sense to have them places in a huge shopping mall. Who will place the BTM there? They will take a fee and have to fill the machine with fiat. What legal things must they do I wonder. They must need insurance from a bank maybe as well? Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: micher143 on September 29, 2019, 01:58:44 AM Would it not be cheaper to just start using bitcoin directly by accepting it rather than to have an atm to draw fiat with then go to trade? I would prefer to use the bitcoin directly but the problem is most of the store don't accept bitcoin as mode of payment so the option is to convert it into fiat, I think those kind of ATM will gradually help the bitcoin users and the community itself. And also I think it will also affect the people to invest in bitcoin with that kind of machine you can see in public.I think if they are used it will make more sense to have them places in a huge shopping mall. Who will place the BTM there? They will take a fee and have to fill the machine with fiat. What legal things must they do I wonder. They must need insurance from a bank maybe as well? Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: matchi2011 on September 29, 2019, 02:00:01 AM in my country we have Bitcoin ATMs and they definitely help increase adoption because people see them in stores and it spreads weariness of Bitcoin at the very least, but also many people use them to buy their first Bitcoin or even invest in more cryptocurrencies if they so choose, and they don't have to trust random people online. Buying bitcoin from the ATM create curiosity especially if you are with your friends and you showing them how the process will be. You're giving them the idea on how the whole thing works, from that point you are also helping the process of campaigning and advertising the entire system. From the view point of unaware people, bitcoin ATM's adds up the process of being well known worldwide.Increasing adoptions can be done in many different ways, you have all the opportunities to help. Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: fitty on September 29, 2019, 02:04:59 AM https://i.ibb.co/WBgt52n/bitcoin-atm-vietnam.jpg Having bitcoin atm alone I think wil not convince people to buy a certain thing no matter what is inside or what service that atm machine is offering.Yes bitcoin atm is promising but not convincing enough to attract new people to invest/buy bitcoin using it.We know consumers love ATM's and the convenience. Would you buy Bitcoin at ATM or nah? Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: BlackFor3st on September 29, 2019, 02:19:49 AM Buying bitcoin in ATM is much safer compare to buying in scam exchanges out there. So it's best that we are going to use the exchanges that we are familiar of and we can surely trust.
If in case we can have some bitcoin ATM's also someday, I would be love to use it in my daily conversion either cash in or cash out of crypto currencies to save time also. Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: DaftAjax on September 29, 2019, 01:46:34 PM 1) Buying bitcoin in ATM is much safer compare to buying in scam exchanges out there. 2) So it's best that we are going to use the exchanges that we are familiar of and we can surely trust. 3) If in case we can have some bitcoin ATM's also someday, I would be love to use it in my daily conversion either cash in or cash out of crypto currencies to save time also. 1) As long as there's a third party in your transactions, it can never be safe. 2) I see the point, but Banks are not really the most trusted exchange either. 3) So you're not concerned about the exchange rates(?), you know that Bitcoin is volatile, right? All in all, If there's really going to be a Bitcoin ATM, then this should be directly connected to the blockchain and will not pass through any third party shenanigans. Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: Pinkris128 on September 30, 2019, 10:49:40 PM https://i.ibb.co/WBgt52n/bitcoin-atm-vietnam.jpg Many countries I think adopt this kind of transaction like bitcoin in some atm's machine and buy some stuff with it. There are a lot of advantages with bitcoin in atm, first buying bitcoin in atm is much safer compare to some scam transactions.Next, we should used and be familiarized with the things we used so that we can surely trust with it. For me, there are some disadvantage with this but if we look at the positive way, disregard with the negative way.We know consumers love ATM's and the convenience. Would you buy Bitcoin at ATM or nah? Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: DevilSlayer on September 30, 2019, 10:57:51 PM Recently, there is a bitcoin atm in my community. I saw many people that became curious to what it is. I know that the bitcoin can become more popular because of the atm that are now spreading in different society.
Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: DaftAjax on October 01, 2019, 01:59:46 AM Recently, there is a bitcoin atm in my community. I saw many people that became curious to what it is. I know that the bitcoin can become more popular because of the atm that are now spreading in different society. I have to admit, this going to be a convinience to those who are already users of Bitcoin. But for other people who are not familiar(?) will only cause confusion. Curious, but didn't know for what purpose. So the media or the government should take action or announcement regarding this matter, for the mass to absorb what really is it for, and how they can utilize it in their daily lives. Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: Youghoor on October 01, 2019, 02:21:00 AM The only possible way to increase the adoption of Bitcoin is when people understand and know the kinda financial freedom it presents to people for transaction of goods and services. Bitcoin ATMs can not really increase the adoption of Bitcoin by the massive public. People need to first understand Bitcoin before they can adopt to use it...
Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: skyline247 on October 01, 2019, 02:44:22 AM This question answers itself it's pretty obvious that the more Bitcoin ATMs there are, the more adoption Bitcoin will have. The more people see Bitcoin, on an everyday basis, the more they will buy it. So yes, we need more Bitcoin ATMs in every city around the world.
Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: Anegg on October 01, 2019, 03:07:15 AM The only real purpose these ATM's serve is to advertise Bitcoin around the world and provide a talking point. Ultimately, they are just gimmicks and anyone who knows anything about Bitcoin would never purchase from these ATM's unless it was an emergency. The premium on these is solely placed on the customer, making them almost obsolete with services such as localbitcoins available in most countries around the globe.
However, if these ATM's became reasonably priced, I do believe that Bitcoin adoption would increase due to the added convenience and security when dealing with a listed company compared to another individual. Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: bryant.coleman on October 01, 2019, 03:17:51 AM During my initial days with the cryptocurrency (back in 2012), I had attempted to purchase BTC using many of the exchanges (Mt Gox, BTC-e.etc). But depositing cash with them was very difficult. It was easy to sell your crypto using these exchanges, but it was tedious to purchase BTC or LTC. I ended up buying Bitcoin from Localbitcoins, which happens to be one of the riskier options. I don't think that the situation has changed a lot after all these years. Many of the countries have banned bank accounts for crypto-exchanges. In countries such as China, it is not allowed to trade cryptocurrency for fiat cash. And in India, there is a blanket ban on cryptocurrency exchanges. Under these circumstances, Bitcoin ATMs can be useful for ordinary people to purchase or sell cryptocurrency.
Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: Expecto on October 01, 2019, 10:57:47 PM ATMs may not be too effective about increasing adoption of Bitcoin but there will be many people that will use these ATMs I think. However, I still prefer doing my transactions over internet.
Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: alexsandria on October 07, 2019, 09:19:09 PM Well there's downsides and advantages if there will be more adoption for bitcoin in ATMs. The downsides is you are now negating one of bitcoin's purpose, its secured payment where it is anonymous. Also, how about the exchange rates? Unless they will lessened it, it wouldn't work. Good thing about this adoption is free advertisement. People will get intrigued and curious about it. Sadly, many banks think bitcoin is a competitor, that's why this adoption is unlikely to happen.
Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: Lmaooo on October 07, 2019, 10:23:53 PM https://i.ibb.co/WBgt52n/bitcoin-atm-vietnam.jpg We know consumers love ATM's and the convenience. Would you buy Bitcoin at ATM or nah? Bitcoin ATMs are cool but I have a better option for buying bitcoin. They say buying bitcoin through bitcoin ATMs is quite expensive though I never did it before. I personally prefer buying bitcoin with my credit card that way I can pay less for exchange fees. Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: Astvile on October 07, 2019, 10:35:44 PM Surely it will, the crowd will get curious about whatever bitcoin is when they see this ATM machine standing in one corner, they'll get curious about whether what is about bitcoin and they're gonna do some research about it for sure.
Would you buy Bitcoin at ATM or nah? Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: kooboat on October 07, 2019, 10:53:40 PM The proliferation of bitcoin ATMs in many parts of the world would really help the course to promote the use of cryptocurrencies around the world. Cryptocurrencies especially bitcoin is becoming popular with each passing day, hence with more ATMs around people can easily perform various transactions just as it is done with the usual ATMs we have around. This is a great step to promote mass adoption of bitcoin.
Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: Darooghe on October 07, 2019, 11:21:41 PM ATM or just buying from an ATM is not adoption. adoption will be spending BTC on everyday purchases or it manages to becomes a store of value such as gold is. These ATMs have super high fees and majority of these fees go to the person who purchased the ATM, they only exist to make money for the person that owns them. they can be useful to educate people anyway so that they stop being frightened of Crypto. many people have heard of Bitcoin so having seen this ATM they will realize that it something "usable" and perhaps will want to learn more. Not that much of adoption but in sight.
Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: karanggatak on October 08, 2019, 02:22:40 AM i know in my country, have three atm for selling, buying, or make it cash. located in a big town, because it have a lot of tourist. i know it will make easy for bitcoin player around the world if you want to cash your bitcoin. it also can promote bitcoin itself, that have same product like bank unfortunately, we cant buy or sell with bitcoin. i hope someday they allow us todo it.
Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: George_Akoni on October 08, 2019, 02:38:04 AM I feel bitcoin is a digital currency so again travelling till ATM machine is not a necessary compulsion. It is all based on the individual requirement that rely on urgency and need. In our local currency bitcoin machines create more awareness for new users.
Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: Fides-exchange on October 08, 2019, 02:49:17 AM It's possible that ATM's can increase the amount of users for BTC but the fees being charged to buy need to be kept lower than some ATM companies are charging.
Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: bryant.coleman on October 08, 2019, 02:50:17 AM I feel bitcoin is a digital currency so again travelling till ATM machine is not a necessary compulsion. It is all based on the individual requirement that rely on urgency and need. In our local currency bitcoin machines create more awareness for new users. Well.. there are other options out there if you want to purchase some cryptocurrency for yourself and you can say that BATMs are not that necessary for Bitcoin adoption. But at the same time, there are a lot of individuals out there who would refuse to purchase Bitcoin (or some other cryptocurrency) from any of the exchanges. Nowadays they have made KYC mandatory in these exchanges and a lot of the users are not comfortable with the idea of sending the scanned copy of the passport to completely unknown people. Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: Genemind on October 08, 2019, 04:15:27 AM I'm amazed that most countries have this kind of ATM. I wish we have it in our country too. I'm sure that it will increase the adoption of Bitcoin because it's more convenient and accessible for most users. It will be easy for most users to purchase and sell bitcoin at the same time. One of the common problems of most investors is they don't know how and where to purchase it. Bitcoin ATMs would make it easier for them to buy.
Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: peter0425 on October 08, 2019, 04:30:32 AM What’s the use of ATM machines if people don’t even use it?
There are many ways to buy bitcoin so why need for this not unless there’s no available at the moment hen maybe we will consider using ATMs Though the presence of machines shows advertisements and also popularization for Bitcoin There are also banks that offers crypto withdrawals so for that specific machines for bitcoin ATM won’t be necessarily needed Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: GrayFullbuster on October 08, 2019, 06:10:26 AM https://i.ibb.co/WBgt52n/bitcoin-atm-vietnam.jpg It can be a way for the people to know what is bitcoin. After the first bitcoin atm in my community, many people are now want to know what is bitcoin and how it works. People deserve convenience and that's why they became interested to it. We know consumers love ATM's and the convenience. Would you buy Bitcoin at ATM or nah? Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: Sithara007 on October 08, 2019, 06:23:08 AM More ATMs are always welcome. They can be a boon for those people who don't want to depend on online methods to purchase Bitcoin. And I know a lot of people who never purchase anything from the online. Some of them don't even have debit cards or credit cards. For such people ATMs can be a good option. They can just deposit fiat banknotes, and get Bitcoins in return. But one thing that I don't like about Bitcoin ATMs is their steep fees. In Localbitcoins, you can purchase Bitcoins for 1% or 2% commission. But the premium goes up to 10% in some of the Bitcoin ATMs. So it is definitely an expensive choice, when compared to the online options.
Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: Arsenyo on October 08, 2019, 12:05:14 PM I wouldn't choose to buy Bitcoin from ATMs, because of huge fees and especially because it is more convenient to buy it online, instead of going to an ATM. But I believe it has a good effect on popularization of cryptocurrency as people will start to ask questions and wonder what it is. Not adoption, but still it is important.
Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: minersday on October 08, 2019, 12:17:00 PM Adoption has to do with people understanding and knowing the nature and purpose of Bitcoin and also knowing the relevance of Bitcoin in the financial ecosystem. People easily adopt to things that they can easily relate to. Introducing more bitcoin ATMs will not really guarantee the adoption of bitcoin into the mainstream financial transactions. The knowledge people have about Bitcoin and the entire crypto space is the cause of the slow adoption of Bitcoin and other cryptocurrencies.
Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: bitcoinposts on October 08, 2019, 01:01:30 PM Atm adoption is more important for bitcoin which increases the users to withdraw funds without any intermediary exchange in between .Atms are future of crypto currency exchange
Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: Eugenar on October 08, 2019, 01:42:25 PM It does makes you wonder who is the target audience? I really don't know for sure, but probably those people who aren't willing to expose their identities by using exchanges that requires KYC? And probably those who doesn't know that exchanges like Coinbase exists. Just my guess though. I've always thought bitcoin ATMs would die out because of the price premiums, but more are actually appearing in various places; meaning that there's actual demand there, which definitely surprised me a lot. Definitely, bitfcoin ATM is very accessible, sooner or later, when bitcoin adoption increases, people will have the urge to buy bitcoin at their convenience thru bitcoin atm's the same way how we put our trust to banks, as long as we don't need to put up our KYC onto it, there's no fear for people to utilize it. But there's should be an international standard for the machines to be created in order to avoid scam and fraud with these ATM's. Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: Battareus on October 10, 2019, 09:47:31 AM Such a thing looks like a gaming machine, I don’t think that anyone other than those who are of the old type of mind (what he buy should be felt, or at least able get a check) use them. If the purchase of Bitcoins will added to all existing Banks, then demand could increase. So such ATM's will stand as outlandish things like hello from the 90's.
Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: blckhawk on October 10, 2019, 10:45:32 AM It's a great start for adoption but I don't think it won't attract much bitcoin buyers. The positive side is that it does not require KYC procedures so you stay anonimous. Another is that it would raise curiosity to people who can see this and would begin asking questions to what is these machines for. The negative side is that it's fees are high and it's much more convenient to use online exchanges instead. But at least, it's one way to spread the word of crypto and signifies continuous growth of the platform.
Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: malevolent on October 10, 2019, 02:32:30 PM ATM or just buying from an ATM is not adoption. Buying bitcoin through a Bitcoin ATM is the most frictionless method of acquiring bitcoins these days (most people can't feasibly mine without losing money), so yes, it does help with adoption. Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: Xxmodded on October 10, 2019, 02:44:11 PM Give little effect for increase adoption of bitcoin and government always give regulation bitcoin as legal payment, government will trust with how serious bitcoin become legal payment transaction by giving good service for investor and give proof for government how serious of bitcoin become legal transaction beside have many advantage with bitcoin.
Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: DdmrDdmr on October 10, 2019, 03:10:37 PM Adoption has two angles to it: acquisition and usage. Bitcoin ATMs constitute another option to strengthen the acquisition phase, so from that standpoint they do contribute to adoption.
Aside from regular ATMs, there are other initiatives that play their (for now small) role in the process of adoption. Panda Group is deploying in Colombia, and now in Venezuela, a portable version that looks very similar to one of those devices you use when paying with a card, but that allows you to purchase BTC with the necessary aid of a shop assistant in this case (no self-service). France now sells BTC through tobacco selling stores. Starting today, Keplerk has deployed a solution in 5.200 points of sale, allowing customers to purchase a coupon with a facial value of 50, 100 or 250 Euros. These coupons are then used by the purchaser to, in his own time and place, load his Kepler Bitcoin Wallet by scanning the coupon’s bar code. I believe that the wallet is custodial, so not the best option, but the idea is to make it simple to purchase, rather much like purchasing a lottery ticket. Not the best of similes, but a means of getting to a different target audience. Apparently, Kepler is not the first. Digycode deployed their solution first in around 10K tobacco selling stores in France using smaller coupons: 20, 50 o 200 euros. The coupon redemption process here is different, and is done through a website that allows you to send the BTC (or ETH, LTC, XRP, Dash) to a wallet address of your choice. ATMs and solutions such as the above therefore strengthen the acquisition options of BTC, and each solution may attract a different target audience simply because of how the usage is actually implement. Legislation at some point will step-in to have its say, where it currently fall into the category of a grey area. Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: abel1337 on October 10, 2019, 03:15:06 PM Give little effect for increase adoption of bitcoin and government always give regulation bitcoin as legal payment, government will trust with how serious bitcoin become legal payment transaction by giving good service for investor and give proof for government how serious of bitcoin become legal transaction beside have many advantage with bitcoin. A simple ATM machine can spread awareness so what if it became a state regulized payment system? I'm sure it can boost awareness to people. Being accepted by many states can not just spread the awareness to people, It can make bitcoin price to go up and it can save a country's economy.Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: coffeenoworidie on October 10, 2019, 03:19:17 PM There are currently two buy-only ATMs in my town, but I'm hoping to install a two-way ATM in the next few months. I think having an option to both buy and sell crypto should help boost my company's bottom line versus having a buy-only option.
Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: skarais on October 10, 2019, 03:32:16 PM I think ATMs will continue to spread in various countries in the future, with ATMs, all buyers and sellers will have easier access. With easy access to where to buy bitcoin, adobtion will also continue to increase. This will also trigger the price of bitcoin to be higher.
Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: febriyana on October 10, 2019, 03:45:52 PM ATM for bitcoin, i think that is great!
People will curious if they see it. What is bitcoin atleast. But the problem is, to place ATM is not cheap. There is some cost like electricity, tax, fees. So if we buy Bitcoin with ATM, i know will expensive. That is bad... if you take advantage to make profit. Also if placed free outside maybe will get broken by bad people. Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: South Park on October 10, 2019, 06:00:01 PM I wouldn't choose to buy Bitcoin from ATMs, because of huge fees and especially because it is more convenient to buy it online, instead of going to an ATM. But I believe it has a good effect on popularization of cryptocurrency as people will start to ask questions and wonder what it is. Not adoption, but still it is important. I think this as well, bitcoin ATMs can help spread awareness since people will notice this strange looking ATM and they will probably ask what it is, but from that point it will be up to each person to decide what to do with that information, most will never think about it again, while some will try to find more information about bitcoin and what it is, but very few will see the potential of bitcoin, but there will be a few that will and will join this market and most likely this forum as well.Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: adzino on October 10, 2019, 06:47:49 PM I wouldn't choose to buy Bitcoin from ATMs, because of huge fees and especially because it is more convenient to buy it online, instead of going to an ATM. But I believe it has a good effect on popularization of cryptocurrency as people will start to ask questions and wonder what it is. Not adoption, but still it is important. People go to ATM because it is easier for them to buy from an ATM without going through any lengthy process. They can easily buy bitcoin on the go. Again buying online takes a lot of time. You need to go through a lot of paper works and verification stuffs. Sometimes your bank account even rejects the transaction. The wait time vs the high fee counter balances the pros and cons. But, some atms uses very low miner fee and seen people complaining about very slow confirmation time due to the low fee.Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: boltz on October 10, 2019, 08:35:13 PM More ATM's will do only good for Bitcoin adoption. However ATM's needs to be spread in that country in more cities besides the capital as that will reduce a lot the number of adopters , more ATM's in more cities will bring more adopters. So far in my country , we have over 15 bitcoin ATM's spread in 5 major cities and Romania is not a big country to be honest and yet the adoption is here and we are buying, also we can buy Bitcoin/Ethereum for any grocery store which is perfect.
Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: jets567 on October 10, 2019, 09:43:16 PM In my country there are only 2 Bitcoin ATM at the moment but I expect it to increase by next coming year througout the cities since one of the largest bank here are already on the process of adding virtual currency ATM's, as far as I remember they've a made a few test and just waiting for the approval of central bank.
Increasing Bitcoin ATM's will surely gain attraction since most of the employees here get their salary via ATM so if these Bitcoin ATM's is spread along with the current ATM's then these people will be aware of what Bitcoin is. Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: nydiacaskey01 on October 10, 2019, 11:19:26 PM Recently, 7-11 announced that all their branches here in my country, people can now easily buy Bitcoin through an ATM like machine. Whats funny is Yes we can buy Bitcoin in any of their branches now here the Philippines but we cant use it buy items from any of their stores. Same with the ATM installed in a commercial district here in the Philippines, its the first Bitcoin ATM, but only a handful of stores or establishments are accepting Bitcoins around it.
It only shows that the presence of Bitcoin ATM doesn't mean there will be more stores who will accept it, even if theres no Bitcoin ATM, if an establishment wants to accept Bitcoin, they can do that. I think it can only increase awareness of Bitcoin. Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: dimox on October 11, 2019, 12:03:50 AM in my country there some atm bitcoin but i think its not give effect for people to use it. and this atm just for user domestic or foreign. many obstacles why they are not using atm bitcoin, the simple is they must learn from beginning. bitcoin adoption relate to, whether the government accepts bitcoin or not.
Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: asus09 on October 11, 2019, 09:44:25 AM Maybe can increase adoption for bitcoin if have many ATM's bitcoin, maybe just one way how to make bitcoin legal transaction with prepare first bitcoin ATM and make seriously respond from government about bitcoin become adoption, the government giving solution if have bitcoin ATM because many people can make cash out with bitcoin ATM.
Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: Apes on October 11, 2019, 10:58:03 AM Maybe can increase adoption for bitcoin if have many ATM's bitcoin, maybe just one way how to make bitcoin legal transaction with prepare first bitcoin ATM and make seriously respond from government about bitcoin become adoption, the government giving solution if have bitcoin ATM because many people can make cash out with bitcoin ATM. Yup the more ATMs the more people use cryptocurrencies. the problem that people currently face is the difficulty of taking cash from their investments,with the lack of ATMs currently installed, it becomes an obstacle for crypto users. because most people cash their currency using third parties from banks. if provided an ATM will provide convenience and extraordinary impact on the community. although currently the use of cryptocurrencies in various countries is still limited. Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: 20kevin20 on October 11, 2019, 11:05:10 AM They might increase adoption as they get people notice the fancier ATMs and, out of curiosity, they might check what they are for. The biggest problem as of now is, imo, learning how to use BTC and that it's pretty hard to exchange BTC for the local fiat currency. As soon as these get fixed, it's gonna be easy for people to join the blockchain tech. An awfully big number of people are afraid to use cryptocurrencies due to the fear of losing their money. It's like moving to China without knowing the language. You'll get lost at one point.
Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: barabarian1 on October 11, 2019, 11:32:56 AM I have never bought bitcoin at an ATM because in my country there is no bitcoin ATM. but according to CoinATMradar the number of bitcoin ATMs is always increasing. so far the number of bitcoin ATMs worldwide has reached 5588. This proves that more people and countries are accepting bitcoin as a currency. and in my opinion the presence of this ATM does increase the adoption of bitcoin. but unfortunately the cost of making transactions at ATMs is more expensive. so that the majority of bitcoin users prefer to do p2p transactions because they are cheaper.
Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: robelneo on October 11, 2019, 11:54:28 AM https://i.ibb.co/WBgt52n/bitcoin-atm-vietnam.jpg Why not even one time, just to support for the adoption of Bitcoin, there are people who prefer to withdraw and buy bitcoin using an Atm, we need ATM it's part of the adoption process because we are in the age of automation, we cannot go on without an ATM because Cryptocurrency is internet-based, and there will always cater to people who prefer to buy bitcoin through ATM, even if the fee is quite high.We know consumers love ATM's and the convenience. Would you buy Bitcoin at ATM or nah? Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: steveabrahams on October 11, 2019, 12:20:45 PM I believe so, at least it give more exposure to bitcoin and more people know about bitcoin. For example in my country, there are only 2 bitcoin ATMs in my country and almost all people around that area know bitcoins.
~slip~ We know consumers love ATM's and the convenience. Would you buy Bitcoin at ATM or nah? I would if someday i really needs some bitcoins, the fees on bitcoin ATM is a bit high, so bitcoin ATM is like my last option lol. Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: DaftAjax on October 11, 2019, 06:37:46 PM I would if someday i really needs some bitcoins, the fees on bitcoin ATM is a bit high, so bitcoin ATM is like my last option lol. It's probably going to be the "initial" cost of fees. But once the "business" runs smoothly, the fee could be reduced quite handsomely. This proves that more people and countries are accepting bitcoin as a currency. and in my opinion the presence of this ATM does increase the adoption of bitcoin. but unfortunately the cost of making transactions at ATMs is more expensive. so that the majority of bitcoin users prefer to do p2p transactions because they are cheaper. It's not that more people are accepting Bitcoin as a currency ('cause its already a currency), but rather "businesses" are adopting Bitcoin as a business. Not directly increases the adoption but rather spread awareness and convenience. Bitcoin ATM can be considered as p2p transaction, imo. Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: beliomir on October 11, 2019, 07:06:34 PM I think yes, because more and more people will recognize and become interested in cryptocurrency. Most likely it will push a new wave of people.
Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: FaithInCrypto on October 12, 2019, 12:02:54 AM I haven't seen any ATM yet that offers Bitcoin around my place so I'm having mixed emotions regarding if I'd prefer to buy a Bitcoin using ATM services. But if Bitcoin ATM has the same or even almost the same uses such as banks do, I'd probably use it. It' kinda difficult to use a service that is half supported by the government and is always tagged as a scam. I know in my self that cryptocurrencies especially Bitcoin has been here for years now and compare to its value years ago, it is making its improvement somehow.
Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: OROBTC on October 12, 2019, 12:32:07 AM ...
So far, the increase in BTMs (BTC ATMs) has not really led to use of Bitcoin as far as I can tell. Reasons might include: -- difficulty among new users to use the machines and/or deal with addresses and wallets -- worry that the machine might eat their money and not send the BTC... -- high costs/transaction fees -- location of machines not being ideal (many above have mentioned that there is not even ONE machine close to them) * * * I have used a number of BTMs in the USA, including fairly recently. I have noticed that ALL the machines I have looked at very recently now ALL demand at least a cell number (SMS text message) and inputting a name, even for low amounts of BTC/$. My *guess* is that KYC/AML in the USA has now reached the point where you cannot buy BTC anonymously any more, which is a damn shame. Last time I was in the UK I found some machines in London that did not ask for ID or cell phone numbers. Comments from European residents would be nice, as then we could then know if the era of buying BTC anonymously via BTMs is now over... Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: malevolent on October 12, 2019, 12:52:33 AM I have used a number of BTMs in the USA, including fairly recently. I have noticed that ALL the machines I have looked at very recently now ALL demand at least a cell number (SMS text message) and inputting a name, even for low amounts of BTC/$. Can't you use an email address or a prepaid SIM card since those don't require personal information? Last time I was in the UK I found some machines in London that did not ask for ID or cell phone numbers. Comments from European residents would be nice, as then we could then know if the era of buying BTC anonymously via BTMs is now over... Some have KYC here, some don't. In Poland none do, there's just a per transaction limit close to the legal limit of 15k EUR. Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: d3nz on October 12, 2019, 03:11:51 AM Well, it will depends on how much the rate and i haven't seen one yet hopefully soon so i can see for myself. And also, the fee for if its covered by the machine or the person.
And having this machine all over the world will most likely to be recognize more but some countries might need a implementation and how government wikl resct to this since it is decentralized and can be used for illegal transaction. Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: Sithara007 on October 12, 2019, 04:42:53 AM This is what happened when the last time someone tried to install a Bitcoin ATM in my country:
https://timesofindia.indiatimes.com/city/bengaluru/1st-bitcoin-atm-in-bengaluru-seized-co-founder-held/articleshow/66340493.cms Quote A 37-year-old man was arrested here on Tuesday for running India’s first bitcoin ATM kiosk, which police called illegal as it had been set up without approvals. This guy was arrested, and had his assets in Bitcoin as well as the ATM machine confiscated. This is how the government reacted to someone who wanted to introduce new technology to India. I feel jealous about citizens of other countries such as Singapore and Japan. They are free to trade in cryptocurrency without any harassment from the government authorities. Quote The police also arrested Harish and seized several gadgets and Rs 1.79 lakh in cash from him. The materials seized included two laptops, one mobile, three credit cards, five debit cards, one passport, five company seals and one cryptocurrency device. Harish was produced in the 1st ACMM Court in Bengaluru before he was taken into police custody. Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: DaftAjax on October 12, 2019, 07:37:20 AM This guy was arrested, and had his assets in Bitcoin as well as the ATM machine confiscated. This is how the government reacted to someone who wanted to introduce new technology to India. I feel jealous about citizens of other countries such as Singapore and Japan. They are free to trade in cryptocurrency without any harassment from the government authorities. I hope I'm right with these assumptions. If a business is running without permits or any "legality" papers to prove that it's his or considered as a business then it is certain that it's illegal, thus the authorities have the right to arrest that man. It's not that the government doesn't permit "new" technologies to your country, it's because people don't tend to do it "legally". And also, you can probably trade cryptocurrency in your country just fine. Unless cryptocurrency is banned from your country, which I doubt. Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: joinfree on October 12, 2019, 07:47:25 AM Putting up ATMs would rather increase the awareness about cryptocurrencies but what is really important is for marketplaces, online shops to integrate into their payment system to accept Bitcoin. I don't really know how this Bitcoin ATM in Vietnam is working but i guess people's information would be needed to complete a transaction, hence i would always stick to peer to peer platforms!
Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: Sithara007 on October 12, 2019, 07:57:06 AM This guy was arrested, and had his assets in Bitcoin as well as the ATM machine confiscated. This is how the government reacted to someone who wanted to introduce new technology to India. I feel jealous about citizens of other countries such as Singapore and Japan. They are free to trade in cryptocurrency without any harassment from the government authorities. I hope I'm right with these assumptions. If a business is running without permits or any "legality" papers to prove that it's his or considered as a business then it is certain that it's illegal, thus the authorities have the right to arrest that man. It's not that the government doesn't permit "new" technologies to your country, it's because people don't tend to do it "legally". And also, you can probably trade cryptocurrency in your country just fine. Unless cryptocurrency is banned from your country, which I doubt. OK. Let me clarify about the situation here a bit. Yes. He was operating without a license. Do you know the reason why he did that? There is no license available to operate Bitcoin ATMs in India. This guy had approached the authorities for a license, but was told that they don't issue any such licenses. And now they are saying that he was arrested because he didn't got a license from the concerned department. Trading or owning Bitcoin is not illegal in India (at least not yet). But at the same time, all the local cryptocurrency exchanges have been shut down, and many of the individual users had their bank accounts suspended for association with cryptocurrency. There is no legal clarity regarding Bitcoin. So far, the government hasn't made BTC illegal. But at the same time, they are harassing the users. Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: DaftAjax on October 13, 2019, 06:11:26 AM OK. Let me clarify about the situation here a bit. Yes. He was operating without a license. Do you know the reason why he did that? There is no license available to operate Bitcoin ATMs in India. This guy had approached the authorities for a license, but was told that they don't issue any such licenses. And now they are saying that he was arrested because he didn't got a license from the concerned department. Trading or owning Bitcoin is not illegal in India (at least not yet). But at the same time, all the local cryptocurrency exchanges have been shut down, and many of the individual users had their bank accounts suspended for association with cryptocurrency. There is no legal clarity regarding Bitcoin. So far, the government hasn't made BTC illegal. But at the same time, they are harassing the users. That explains everything. I assumed it was fine trading and exchanging cryptocurrency in your country, and tbh I only said it was fine because I based it here in the forum, you have a local thread here; besides I can't read Indian language anyways for me to know the full detail, so thank you for being informative. If that's the case, then its a mess. I don't know anything about the policy/law of your country--for them to react to such extent like this. Shutting down all the local cryptocurrency exchange is unnecessary tbh; also harassing users of cryptocurrency(?) that's uncalled for. And I hope it won't go to the point that it will be banned in your country. Maybe groups of people or some companies would appeal to the government regarding--giving permits/licenses on operating a cryptocurrency exchange or cryptocurrency ATMs. Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: Fredomago on October 13, 2019, 06:25:08 AM Putting up ATMs would rather increase the awareness about cryptocurrencies but what is really important is for marketplaces, online shops to integrate into their payment system to accept Bitcoin. I don't really know how this Bitcoin ATM in Vietnam is working but i guess people's information would be needed to complete a transaction, hence i would always stick to peer to peer platforms! It will bring curiosity with people who don't know things about Bitcoin. Seeing things like atm booth which design for Bitcoin transactions is a good advertisement. But likewise, the needs of more adoptions in the field where Bitcoin can be used as a payment process will bring the success to this industry. Without further support from big establishments will delayed the full potentials of this currency.Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: bryant.coleman on October 13, 2019, 06:57:15 AM If that's the case, then its a mess. I don't know anything about the policy/law of your country--for them to react to such extent like this. Shutting down all the local cryptocurrency exchange is unnecessary tbh; also harassing users of cryptocurrency(?) that's uncalled for. And I hope it won't go to the point that it will be banned in your country. Maybe groups of people or some companies would appeal to the government regarding--giving permits/licenses on operating a cryptocurrency exchange or cryptocurrency ATMs. India is a very messy place for the cryptocurrency users. The government doesn't have a policy regarding cryptocurrency and therefore they asked the bureaucrats to come up with one. The person who was given this responsibility was Subhash Chandra Garg (then the Finance Secretary of India). He was very hostile to the idea of cryptocurrency and suggested jailing cryptocurrency users for upto 10 years, if they were found to be holding, trading or mining cryptocurrency. His suggestions were not accepted by the government (who still doesn't have an idea of how to deal with the cryptocurrency). A few months after he made the suggestions, Mr.Garg had an altercation with members of the Rashtriya Swayamsevak Sangh (RSS) regarding some of his other policies. The RSS is a very influential organization and both the Prime Minister and the President are its members. Within a few days Mr. Garg was fired from his post and told to GTFO. As of now, Bitcoin ATMs and exchanges are not allowed in India. Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: Winderer on October 13, 2019, 07:34:28 AM Local sellers sometimes are more suitable and easy
Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: DaftAjax on October 13, 2019, 09:00:19 AM ~snip... India is a very messy place for the cryptocurrency users. The government doesn't have a policy regarding cryptocurrency and therefore they asked the bureaucrats to come up with one. The person who was given this responsibility was Subhash Chandra Garg (then the Finance Secretary of India). He was very hostile to the idea of cryptocurrency and suggested jailing cryptocurrency users for upto 10 years, if they were found to be holding, trading or mining cryptocurrency. His suggestions were not accepted by the government (who still doesn't have an idea of how to deal with the cryptocurrency). A few months after he made the suggestions, Mr.Garg had an altercation with members of the Rashtriya Swayamsevak Sangh (RSS) regarding some of his other policies. The RSS is a very influential organization and both the Prime Minister and the President are its members. Within a few days Mr. Garg was fired from his post and told to GTFO. As of now, Bitcoin ATMs and exchanges are not allowed in India. Again, I am grateful for this information. Honestly, someone can create a thread out of this, assuming that the OP will have extensive knowledge about the topic at hand. Well, it's not surprising to see a politician to behave like this. And I'm glad that he's out of there (I laughed when you said: "Within a few days Mr. Garg was fired from his post and told to GTFO"), he deserved it. A politician that isn't open-minded to everything that has potential and could make a difference, shouldn't be there. Though we can argue that Bitcoin has nothing to do with "Economy"(for now) and the government cannot have authority over it (I hope they won't), they can still have benefits over it. Local exchangers or even Bitcoin ATMs as a means of being a "business" can be considered as another company that will pay taxes, and that's good for the government. Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: Aying on October 13, 2019, 10:14:22 AM If Bitcoin ATM's are available in my country.. I would have btc rather than fiat.
In this way locals condition are being raised. if btc atm's are going to be placed. many people will know about virtual currency not just btc. so it will help other alts to know because of curiosity. with this idea, fiat have a big possibilty to disappear. we know atm's is already engaged with our lives to purchase easily, so it will hit to people who already use it. P.S: whether positive or negative might be the result it will choose by many. Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: sapnu on October 23, 2019, 04:56:56 PM https://i.ibb.co/WBgt52n/bitcoin-atm-vietnam.jpg Maybe if we think about the future, it is not impossible to happen for me. Knowing that cryptocurrency is being recognized all around the world I think making some more ATMs is more convenient. Digital money is making noise all around the globe as many investors are going into this kind of business using cryptocurrency as an asset and doing some support and trading using cryptocurrency. Maybe other country is not legalizing cryptocurrency but still crypto is alive. Try to think of it, what if we all use cryptocurrency instead of fiat and these ATMs are created all over the world, would you think that the payment method is hassle? I don't think so. I am looking forward to the future that we are using cryptocurrency instead of FIAT. We know consumers love ATM's and the convenience. Would you buy Bitcoin at ATM or Nah? Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: NeironixNV on November 08, 2019, 11:16:29 AM https://i.ibb.co/WBgt52n/bitcoin-atm-vietnam.jpg We know consumers love ATM's and the convenience. Would you buy Bitcoin at ATM or nah? This is a very cool topic, but I read at the neironix.io that in these ATMs there are large commissions and very limited volumes for cashing out cash. But the fact that ATMs are becoming more and more all over the world definitely helps the development of the industry, people are increasingly confronted with bitcoin in real life, and confidence in it among the general population is growing. Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: Fappanu on November 08, 2019, 12:13:13 PM Of course I'll buy! I want to give it a try because I haven't bought and seen the actual one yet. And I'm sure it will have a huge impact on people because people will also be interested in buying on bitcoin ATMs. Hopefully there are more Bitcoin ATMs so I have more experience on how to use it.
Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: Memminger on November 08, 2019, 06:43:05 PM Of course I'll buy! I want to give it a try because I haven't bought and seen the actual one yet. And I'm sure it will have a huge impact on people because people will also be interested in buying on bitcoin ATMs. Hopefully there are more Bitcoin ATMs so I have more experience on how to use it. I have never seen one ye and it is my first time to see a photograph of what a Bitcoin ATM looks like. But nonetheless, at the very least, it would make people who are passing by and had seen the machine be piqued by their curious mind which would ignite small discussions. And it is up to their determination and these talks that they had made to determine within themselves if they are willing to join and strt their adventure in the world of cryptocurrencies that is extremely volatile and amidst of people labeling it as a scam or whatso.Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: Wintersoldier on November 09, 2019, 12:43:55 AM Regarding the Bitcoin ATM, I think the bitcoin center in New York does really provided a good start to gain a reputation in transitioning Fiat ATM to Bitcoin ATMs. If I have the chance to implement even a single machine in my location, it would be mainstream as the number of bitcoin cryptocurrency adopters in my area is exponentially increasing, due to the fact that China is now regulating crypto with a bunch of news concerning the utilization of Blockchain Technology.
In this case, it would be a good passive income if we try to purchase or run a bitcoin ATM. Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: Sahyadri on November 09, 2019, 04:47:59 PM The effect is opposite. Countries with high awareness about cryptos are seeing more crypto ATMs. Cryptos are already popular in such countries. Yes, ATM would boost the popularity as more people will get to know about it or become curious through it. But the effect won't be that much. The hitch between the popularity of BTC is the safety concern. If that gets solved, we can see more adoption.
Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: candy27 on November 09, 2019, 05:42:58 PM If it was a two-way ATM - in other words, you can change fiat into bitcoin (or other alts) and change bitcoin back into fiat, I think it WOULD help with adoption.
Most people are put off by the intrusive KYC requirements of most exchanges (which are greater than the requirements to open a simple bank account). Especially as exchanges can be hacked. So if you could cash out your bitcoin using an ATM, that would be an enormous help. Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: Colt81 on November 10, 2019, 05:17:24 AM If it was a two-way ATM - in other words, you can change fiat into bitcoin (or other alts) and change bitcoin back into fiat, I think it WOULD help with adoption. It would be a good news for crypto users to used a Bitcoin ATM because it will be convenient for us to convert our bitcoin into fiat and fiat into bitcoin at the same time. I think if bitcoin ATM will be implemented all over the world there is a possibility that everyone in the world will be using and buying bitcoin, so bitcoin will continue to increased it's price.Most people are put off by the intrusive KYC requirements of most exchanges (which are greater than the requirements to open a simple bank account). Especially as exchanges can be hacked. So if you could cash out your bitcoin using an ATM, that would be an enormous help. Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: fuguebtc on November 10, 2019, 09:31:49 AM I dont think installing more ATMs will help BTC adoption rather it may be other way around i.e. btc adoption in real world can increase demand for crypto ATMs.
Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: bitcoinposts on November 10, 2019, 09:39:20 AM ATMS definitely increase the adoption more people get used for crypto then more atms come into existence we may see more countries follow adoption
Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: congakia113 on November 10, 2019, 10:05:31 AM There are already more than 4,000 bitcoin ATMs worldwide! The popularity of Bitcoin is increasing every day, and the services using BTC are increasing rapidly. I think that someday, domestic bank ATMs will accept BTC like Visa, ..
Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: fiulpro on November 10, 2019, 10:09:46 AM Unfortunately they are very scarce and one should understand that something that is scarce would actually take a lot of money for their services that would actually prove to be problematic .
I don't think I would be comfortable with this , I would rather do that online on the certain websites that I trust and then just , receive the money in the bank account. They might be fraud too and I have seen people having problems with this thus I don't think it will go that good. Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: Shasha80 on November 10, 2019, 10:47:17 AM With its many bitcoin ATMs scattered in various places, of course there will be an increase in adoption for bitcoin.
Because ordinary people who see it will be curious and find out about bitcoin. This is a positive way of spreading bitcoin, but for I personally use an ATM to buy or make a bitcoin exchange transaction. I will not do it because lacks privacy and is quite expensive. But once in a while maybe I will do it if there is indeed a bitcoin ATM on the area where I live, to just be curious to feel how a bitcoin transaction with an ATM machine. Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: kaya11 on November 10, 2019, 11:41:01 AM A big yes, they should put more effort on the design of bitcoin atm. The fact that some says it could be the future money means it should be futuristic also in design, that way people would be attracted more. These days, most people are seeing the outside design and then after on search and get some knowledge of the product, imagery is just powerful.
Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: gantez on November 10, 2019, 11:59:52 AM I think on the contrary, it is more adoption that will create the need for bitcoin ATM for faster usage. You can not put something on nothing and it will stand. The thing is there will be need for ATM for it to be installed, if you install and it is not used that means people are not having bitcoin enough to have that kind of need to use ATM on it. So the few who have it can keep using their phone gadgets.
Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: Clark05 on November 10, 2019, 12:12:53 PM Here in my country we have few ATM bircoin and Im really glad that we have that and Im pretty much sure that it will increase the numbers of the ATM bitcoin in my country. I saw that the buy in that bitcoin ATM was very high compared to the wallet so I think Im using still to buy bitcoin to the online wallet instead of that. Also the selling bitcoin is very low but if the rates are closely I will use it but it's very big difference.
Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: panganib999 on November 10, 2019, 06:20:18 PM Increasing bitcoin atm's migjt increase the convenience that crypto owners are struggling to have at this moment. Having many of it will make non. crypro people curious about ehat it was for and that will spark the start of their search about it knowing it phase of their life and will or might lead to adding the adoption of bitcoin that we are all aiming and thinks that this massive adoption is the only thing that stops bitcoin and being so perfect asset.
Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: dimastegar on November 10, 2019, 10:55:18 PM Buying Bitcoin through an ATM might be weird for me lol. Although it can be a fast and practical way, but for me it sounds strange. Maybe the transaction fee is also a bit expensive compared to buying it through Crypto Exchanger.
Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: d3nz on November 10, 2019, 11:28:01 PM Buying Bitcoin through an ATM might be weird for me lol. Although it can be a fast and practical way, but for me it sounds strange. Maybe the transaction fee is also a bit expensive compared to buying it through Crypto Exchanger. It is an alternative way to buy bitcoin and i think much safer but the rate could be dofferent and much higher but its still good since its no hassle than to contact people or exchange it online if you need are changing bitcoin to fiat. And this is great and people will surely get into it. The value of bitcoin will surely rise once people rhink that bitcoin ks really a good for long term investment. Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: Google+ on November 10, 2019, 11:48:17 PM I think to be able to adopt bitcoin not from bitcoin atm but there must be many sellers who accept payments using bitcoin because if only by increasing bitcoin but those who accept bitcoin are still very little it will not have a good effect, increase the use of bitcoin for transactions so many will adopt bitcoin and prices can also grow.
Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: Wintersoldier on November 11, 2019, 02:50:48 AM I think to be able to adopt bitcoin not from bitcoin atm but there must be many sellers who accept payments using bitcoin because if only by increasing bitcoin but those who accept bitcoin are still very little it will not have a good effect, increase the use of bitcoin for transactions so many will adopt bitcoin and prices can also grow. Basically even if there's no bitcoin ATM, people can still adopt bitcoin through convenience store such as 7/11, I myself is considering to accumulate and save crypto from the convenience store. Because for me, it is quite safer compared to a bitcoin ATM that we can just find if there is, to someplace that we aren't sure. Mostly because, if there's a problem that persists, we don't have someone to ask how to solve it. On the other hand, convenience store has their cashier that will be somehow responsible to contact their management whenever incase problems occur. Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: Edraket31 on November 11, 2019, 03:13:47 AM Having a Bitcoin ATM is another good way to create awareness, curiosity to people, for sure for some people who doesn't have any knowledge at all about Bitcoin, will ask question from the people and from the bank, and those who are into crypto will be glad and will be encourage more as they have seen that there is already market and the adoption for crypto is already there, so it is really a big plus for all of us.
Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: gabmen on November 11, 2019, 05:44:25 AM Having a Bitcoin ATM is another good way to create awareness, curiosity to people, for sure for some people who doesn't have any knowledge at all about Bitcoin, will ask question from the people and from the bank, and those who are into crypto will be glad and will be encourage more as they have seen that there is already market and the adoption for crypto is already there, so it is really a big plus for all of us. Right. Having these atms more more visible in a lot of locations would create cusiosity and eventually awareness, especially for those who have limited or no knowledge about crypto. It can also change other people's mindset that crypto is not just a scam. Being able to see these ATMs on the street confirms it's legitimacy and can put confidence into people's minds. Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: yulionoo on November 11, 2019, 05:57:05 AM in my opinion the existence of a bitcoin ATM will not encourage mass adoption. because adoption or not it all depends on the decision of a country. if the country legalizes bitcoin then adoption will be realized even though in that country there is no bitcoin ATM.
but I appreciate that the existence of a bitcoin ATM can at least be used to promote bitcoin to lay people who have never known bitcoin. at least with a bitcoin ATM. they will ask what is bitcoin? Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: loafof on November 11, 2019, 05:59:15 AM I think having properly working Bitcoin ATMs is more important than having lots of BTC ATMs in the city. From my experience, almost all of those ATMs were either (i) out of cash for withdrawals (ii) charges ridiculous fees (iii) spoiled with no staff around to help or phone number to call Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: White Christmas on November 11, 2019, 08:05:11 AM Maybe someday I will be intent to buy bitcoin into the atm machines if it requires but now I don't see any reliance to buy bitcoin into the atm machine because as we all know, before you to be able to make a transaction in to the atm machine or banks you need to submit your personal data or information for you to be known by the banks and to do some kyc in order to avoid malicious action that may do into the atm machines, if that's the case then it would be hard for us who are here in the crypto because we prefer to be unknown and if it needs to submit kyc then it would be a problem.
Another one is in the banks it has taxes when you will buy bitcoin or cryptocurrency so it would be also a problem for us because we don't intent to pay taxes and that's why we want cryptocurrency, and we intent to buy to other people bitcoin than atm that requires taxes. Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: Xxmodded on November 11, 2019, 08:41:05 AM Maybe someday I will be intent to buy bitcoin into the atm machines if it requires but now I don't see any reliance to buy bitcoin into the atm machine because as we all know, before you to be able to make a transaction in to the atm machine or banks you need to submit your personal data or information for you to be known by the banks and to do some kyc in order to avoid malicious action that may do into the atm machines, if that's the case then it would be hard for us who are here in the crypto because we prefer to be unknown and if it needs to submit kyc then it would be a problem. Maybe with increase many ATM in every country give space for government want to allow and legal using bitcoin as currency payment, bitcoin friendly currency payment with faster and transparent data each transaction never manipulated. Now many country have available for ATM bitcoin to increase bitcoin member safety using bitcoin as legal currency payment.Another one is in the banks it has taxes when you will buy bitcoin or cryptocurrency so it would be also a problem for us because we don't intent to pay taxes and that's why we want cryptocurrency, and we intent to buy to other people bitcoin than atm that requires taxes. Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: bitbunnny on November 11, 2019, 09:15:13 AM I don't think so, to my opinion Bitcoin ATMs are not so popular anymore. In digital era when you can get everything online and with the help of your mobile phone I don't see much use of Bitcoin ATMs and how could they improve Bitcoin adoption. For better adoption we need more education and promotion.
Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: finaleshot2016 on February 04, 2020, 09:42:49 PM The location of bitcoin atm here in my country is near our home. Until now, I still don't find any reasons to buy it. I'm already having a great experience on making transactions on the internet and direct withdraw it on my personal bank using my phone. Bitcoin ATM is good idea but not essential anymore for users but I see a little good effect of it on the community, people will see that Bitcoin is really legit due to existing ATM of Bitcoin.
Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: LbtalkL on February 04, 2020, 11:55:14 PM There's no need for bitcoin ATM no more, fiat? Well yes! But the question is will it increase adoption for bitcoin? OP is not comparing it about how convenient is ATM or some gadget, etc. For a country that few people only believe in crypto or bitcoin, this really helps the adoption. If your local bank opening a bitcoin ATM for sure many will be curious and interested and start trusting it. Gaining the trust of the community is a core key to a nationwide or worldwide adoption.Lots of gadgets have overshadowed the need for bitcoin ATM as individuals can easily explore and transact from the comfort of their homes using those gadgets TO OP: Quote Would you buy Bitcoin at ATM or nah? It really depends on the rate, I will always go for the higher rate, ATM rate or others, but it depends on the availability and situation.If I really need the money that fast I better choose ATM. Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: Yatsan on February 05, 2020, 04:30:22 PM The location of bitcoin atm here in my country is near our home. Until now, I still don't find any reasons to buy it. I'm already having a great experience on making transactions on the internet and direct withdraw it on my personal bank using my phone. Bitcoin ATM is good idea but not essential anymore for users but I see a little good effect of it on the community, people will see that Bitcoin is really legit due to existing ATM of Bitcoin. If awareness it will be a yes, it will affect somehow the people that is going to see that ATM on what is Bitcoin, and why does it have an ATM. But generally, I think just a small number of users will test or use that bitcoin ATM. We go to internet to avoid hassle kind of action instead, we are using online transactions so that the transaction will be easier and faster. Just like what you said, It's easier to buy bitcoin or sell bitcoin using your bank account or even paypal.Personally, I will not also use that ATM, considering that I prefer my money going to my bank and just using it, when I need it. Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: TitanGEL on February 06, 2020, 03:49:23 AM The location of bitcoin atm here in my country is near our home. Until now, I still don't find any reasons to buy it. I'm already having a great experience on making transactions on the internet and direct withdraw it on my personal bank using my phone. Bitcoin ATM is good idea but not essential anymore for users but I see a little good effect of it on the community, people will see that Bitcoin is really legit due to existing ATM of Bitcoin. If awareness it will be a yes, it will affect somehow the people that is going to see that ATM on what is Bitcoin, and why does it have an ATM. But generally, I think just a small number of users will test or use that bitcoin ATM. We go to internet to avoid hassle kind of action instead, we are using online transactions so that the transaction will be easier and faster. Just like what you said, It's easier to buy bitcoin or sell bitcoin using your bank account or even paypal.Personally, I will not also use that ATM, considering that I prefer my money going to my bank and just using it, when I need it. Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: rodskee on February 06, 2020, 05:16:34 AM i dont need that it is the ATM whos people needs to Know for them to invest in in crypto currency because even how many ATM's will be installed in strategic places but we are not doing our part to educate them i believe that there is no sense at all.based on my own experience,when i first learn about bitcoin my interest is to come and see the ATM machines installed here in my country but after going there?i feel sad because in my 1 hour of stay there?no one ever uses the machine.so i come to realized that i need to act myself and not let the machine do the JOB.
Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: bryant.coleman on February 07, 2020, 07:36:43 AM We still have a lot of individuals (who are in their middle-ages or even older), who prefer not to deal with money online. They don't want to do financial transactions through smartphone or laptop. The Bitcoin ATMs appeal to such people. Another aspect is the privacy. In countries such as China, the authorities are monitoring what is going on in the online space. So if you want to stay under the radar with your cryptocurrency dealings, then you need to depend upon offline modes, such as Bitcoin ATMs.
Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: peter0425 on February 07, 2020, 08:30:23 AM I think it was too early for using that kind of machine. I don't think it will succeed because the market was not yet ready for that. Foreign and local exchanger is enough today to provide our needs and a lot of trusted exchange are there to to provide quality service. Binance can consider as the top performing exchange but it depends on your personal experiences. well there are even banks providing atm machines for crypto now so Bitcoin machine has no actual function when you can use those banks provided that has many offer currencies.but being ready?depend on what country you are because in mine therea re local wallet/exchange that can easily purchase Bitcoin and 3 other currencies like ETH ,XRP and BCH. Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: tvplus006 on February 07, 2020, 10:06:27 AM The location of bitcoin atm here in my country is near our home. Until now, I still don't find any reasons to buy it. I'm already having a great experience on making transactions on the internet and direct withdraw it on my personal bank using my phone. Bitcoin ATM is good idea but not essential anymore for users but I see a little good effect of it on the community, people will see that Bitcoin is really legit due to existing ATM of Bitcoin. Bitcoin machines are made for ease of use. But in fact, they play a major role in promoting bitcoin among the population. Only it is unknown whether an ordinary citizen will be able to use a purchased and open wallet in an ATM with bitcoin. I believe that this requires at least minimal knowledge about bitcoin. Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: Assface16678 on February 07, 2020, 11:36:46 AM The location of bitcoin atm here in my country is near our home. Until now, I still don't find any reasons to buy it. I'm already having a great experience on making transactions on the internet and direct withdraw it on my personal bank using my phone. Bitcoin ATM is good idea but not essential anymore for users but I see a little good effect of it on the community, people will see that Bitcoin is really legit due to existing ATM of Bitcoin. Bitcoin machines are made for ease of use. But in fact, they play a major role in promoting bitcoin among the population. Only it is unknown whether an ordinary citizen will be able to use a purchased and open wallet in an ATM with bitcoin. I believe that this requires at least minimal knowledge about bitcoin. Today being popular in using bitcoin is growing and many people today make an investment because they see the potential of the crypto world and now they are supporting the use of bitcoin. For now, there are only a few countries accepted the use of the bitcoin and according to thread of this topic in Vietnam, they accepted the use of bitcoin atm and this is good and efficient to the users who hold a lot of digital currency than the real money because we all know that if we are looking at the future we are lessen all of the physical aspects of transaction. One of the biggest advantages of having a transaction of bitcoin atm is we can withdraw easily our bitcoin into the nearest atm because there is a lot of process and transaction fee will be deducted into our crypto before it reaches in fiat and also we are lessen having a long queue for withdrawal request because we have a different line for bitcoin atm. Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: Andrews193 on February 07, 2020, 02:30:44 PM The location of bitcoin atm here in my country is near our home. Until now, I still don't find any reasons to buy it. I'm already having a great experience on making transactions on the internet and direct withdraw it on my personal bank using my phone. Bitcoin ATM is good idea but not essential anymore for users but I see a little good effect of it on the community, people will see that Bitcoin is really legit due to existing ATM of Bitcoin. Bitcoin machines are made for ease of use. But in fact, they play a major role in promoting bitcoin among the population. Only it is unknown whether an ordinary citizen will be able to use a purchased and open wallet in an ATM with bitcoin. I believe that this requires at least minimal knowledge about bitcoin. Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: FlightyPouch on February 07, 2020, 03:07:26 PM I do not think this is gonna be a good idea because if we have a bitcoin atm, its transaction fee might be doubled because it is now centralized. Government want to take part of it so maybe it will have a tax that all of the cryptocurrency user doesn't want to. I would still suggest to let it stay being a digital money only. In terms of promoting crypto currencies especially bitcoin, this is great but I would not also use this since these machines have their fees being added by the companies behind it. I also don't want to be buying bitcoin outside as people can see me, I would love to use bitcoin but I want myself to be anonymous since that is another reason I use it. Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: Initscri on February 07, 2020, 04:07:05 PM Provided fees are kept low, and there is sufficient demand - yes.
I honestly don't understand why there are so many ATM companies that charge outrageous fees, but then wonder why their growth stagnates. It would be a much more sufficient approach to create more ATMs in more communities w/ lower fees (while still maintain profit OFC) + buy/sell, which would promote Bitcoin and increase ATM usage. Just my $0.02 Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: Meowth05 on February 07, 2020, 04:44:09 PM I remember the article that I used to read before that there are now having a lot of Bitcoin ATM machine across the world especially in US. Personally, I would like to have a Bitcoin ATM machines across the world but first legalization must be done first so that local businesses accept this kind of monetary system. I think this won't be a problem for rich countries but I don't think that it will be that effective in 3rd world countries hence, there will be still some limitations.
Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: BTMBitcoinVN on February 07, 2020, 05:01:19 PM Provided fees are kept low, and there is sufficient demand - yes. I honestly don't understand why there are so many ATM companies that charge outrageous fees, but then wonder why their growth stagnates. It would be a much more sufficient approach to create more ATMs in more communities w/ lower fees (while still maintain profit OFC) + buy/sell, which would promote Bitcoin and increase ATM usage. Just my $0.02 We wrote something about this issue in our most recent contribution (https://bitcointalk.org/index.php?topic=5214514.msg53741698#msg53741698) to this forum: Quote We are currently in Vietnam the largest operator of Bitcoin ATM's (http://btm.bitcoinvn.io), however operating a fleet of machines is by no means easy. Unfortunately it is far from "plug&play", forget about it and collect some $ at the end of the month of it. The overhead to operate such machines is tremendous: Regular hardware issues, customers who manage to clog up the bill recipient with terribly folded/crumbled bills or force-inserting their money (despite stickers with clear indication of what is what) into the printer slit instead of the bill acceptor... - shaky Internet or power connection; physical safety, issues with software & telco providers... - as a start. And by that we have not even touched another elephant in the room which provides uncertainty/burden to the business: Regulation! And if you want to build up anything like a regular customer flow the rule number one is: Keep your damn machines online and fix problems within hours max.! Operating them as a hobby won't work in most cases, so it will be necessary to build up a dedicated team which learns about all the quirks & features of the machines; establishes direct connections with hardware & software vendors for fast support; is able to react fast on any issues occurring; knows how to manage cash/crypto balances to "never" run out of funds while at the same time manage the risk tightly. When the BTM Department of BitcoinVN (http://www.bitcoinvn.io) launched in 2016 with its first machine it was indeed nothing more than a "side business" without dedicated staff which of course had impact on the service level. By now we have established a specialized team operating the current machines and expanding the network further location by location. It ain't easy, but our team is learning day by day and gaining some more experience and knowledge every day. Far from easy money, but if you are willing to put in the work; be patient and build up a team it can become a business. Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: Sanugarid on February 08, 2020, 04:48:50 PM The location of bitcoin atm here in my country is near our home. Until now, I still don't find any reasons to buy it. I'm already having a great experience on making transactions on the internet and direct withdraw it on my personal bank using my phone. Bitcoin ATM is good idea but not essential anymore for users but I see a little good effect of it on the community, people will see that Bitcoin is really legit due to existing ATM of Bitcoin. If awareness it will be a yes, it will affect somehow the people that is going to see that ATM on what is Bitcoin, and why does it have an ATM. But generally, I think just a small number of users will test or use that bitcoin ATM. We go to internet to avoid hassle kind of action instead, we are using online transactions so that the transaction will be easier and faster. Just like what you said, It's easier to buy bitcoin or sell bitcoin using your bank account or even paypal.Personally, I will not also use that ATM, considering that I prefer my money going to my bank and just using it, when I need it. I remember the article that I used to read before that there are now having a lot of Bitcoin ATM machine across the world especially in US. Personally, I would like to have a Bitcoin ATM machines across the world but first legalization must be done first so that local businesses accept this kind of monetary system. I think this won't be a problem for rich countries but I don't think that it will be that effective in 3rd world countries hence, there will be still some limitations. As bitcoin spreads around the world, it is becoming more famous time by time and there are countries that are legalizing bitcoin as of now because they knew what is the good purpose and usage of this digital currency, making your transaction faster and way safer than making transaction through fiat. As of now, bitcoin has a lot of use, it is a good investment to some people and it is a good way of payment method to others. Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: Rengga Jati on February 08, 2020, 09:04:59 PM 1. Bitcoin ATM's usually charge much higher fees than exchanges, so they're not the best for customers. -snip- Yes. This fact makes less interest in using Bitcoin ATMs. Then, of course, it doesn't help for better adoption. Unless if Bitcoin ATMs charge lower fees, so it can help for the adoption of Bitcoin, although it is not so significant. 2. Bitcoin exists on the Internet, so it's actually not that important for people to buy it via an ATM -snip- However, if Bitcoin ATMs charger lower fees, it can be another option for people to buy. But yes, it may decrease the anonymity of someone. Well, as another option, it is not too bad as long as not charge high fees. Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: bryant.coleman on February 09, 2020, 04:45:46 AM 1. Bitcoin ATM's usually charge much higher fees than exchanges, so they're not the best for customers. -snip- Yes. This fact makes less interest in using Bitcoin ATMs. Then, of course, it doesn't help for better adoption. Unless if Bitcoin ATMs charge lower fees, so it can help for the adoption of Bitcoin, although it is not so significant. 2. Bitcoin exists on the Internet, so it's actually not that important for people to buy it via an ATM -snip- However, if Bitcoin ATMs charger lower fees, it can be another option for people to buy. But yes, it may decrease the anonymity of someone. Well, as another option, it is not too bad as long as not charge high fees. Significant costs are involved in operating a Bitcoin ATM and it is not like operating an online platform. On top of that, the tax structure and liabilities are different as well. So unlike the online exchanges, you can't expect fees in range of 0.1%-0.2% for the ATMs. Most of them charge anywhere between 4% and 10%, and those who are looking for anonymity will be ready to pay such premium. Anyway, it is a free world out there. If you don't want to use an ATM, then you are free to do so. No one is forcing others to use these machines. Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: AleSergio on February 09, 2020, 04:57:06 PM Like for real I would never buy bitcoins in ATM. Firstly it is unsafe, because a lot fraud would happen and some people would start to make money on this business. Secondly it doesn't matter for a bitcoin holders, because we all know how to buy bitcoins online and if not there are a lot of guides how to do this. Thirdly it is easier to buy online, rather than from ATMs.
Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: Initscri on February 13, 2020, 02:02:22 AM Provided fees are kept low, and there is sufficient demand - yes. I honestly don't understand why there are so many ATM companies that charge outrageous fees, but then wonder why their growth stagnates. It would be a much more sufficient approach to create more ATMs in more communities w/ lower fees (while still maintain profit OFC) + buy/sell, which would promote Bitcoin and increase ATM usage. Just my $0.02 We wrote something about this issue in our most recent contribution (https://bitcointalk.org/index.php?topic=5214514.msg53741698#msg53741698) to this forum: Quote We are currently in Vietnam the largest operator of Bitcoin ATM's (http://btm.bitcoinvn.io), however operating a fleet of machines is by no means easy. Unfortunately it is far from "plug&play", forget about it and collect some $ at the end of the month of it. The overhead to operate such machines is tremendous: Regular hardware issues, customers who manage to clog up the bill recipient with terribly folded/crumbled bills or force-inserting their money (despite stickers with clear indication of what is what) into the printer slit instead of the bill acceptor... - shaky Internet or power connection; physical safety, issues with software & telco providers... - as a start. And by that we have not even touched another elephant in the room which provides uncertainty/burden to the business: Regulation! And if you want to build up anything like a regular customer flow the rule number one is: Keep your damn machines online and fix problems within hours max.! Operating them as a hobby won't work in most cases, so it will be necessary to build up a dedicated team which learns about all the quirks & features of the machines; establishes direct connections with hardware & software vendors for fast support; is able to react fast on any issues occurring; knows how to manage cash/crypto balances to "never" run out of funds while at the same time manage the risk tightly. When the BTM Department of BitcoinVN (http://www.bitcoinvn.io) launched in 2016 with its first machine it was indeed nothing more than a "side business" without dedicated staff which of course had impact on the service level. By now we have established a specialized team operating the current machines and expanding the network further location by location. It ain't easy, but our team is learning day by day and gaining some more experience and knowledge every day. Far from easy money, but if you are willing to put in the work; be patient and build up a team it can become a business. Understandably, yea it's tough. Because I know it's not plug & play for sure - and i know there's most likely a large amount of time/effort required to run an ATM business - especially one at a larger scale (or even just 1 offs for that matter). The problem is, as with any industry, you have people come in and try to "get rich quick" off certain ideas. There are a few companies/individuals charging outrageous fees and TBH it just kind of ruins it for the legitimate players who are trying to establish legitimate businesses. Title: Re: Can more ATM's increase adoption for Bitcoin? Post by: elenag1142 on April 20, 2020, 12:16:11 PM While Bitcoin ATM give comfort, numerous individuals wouldn't utilize it within the wake of realizing the conversion standard is high. IMO just existing Bitcoiner who have restricted alternatives who might utilize Bitcoin ATM.
However, it could support Bitcoin utilization as cash/installment strategy on the spot where numerous stores/dealer acknowledge Bitcoin. |
