Bitcoin Forum

Do you think if there is any chance that amount of BitcoinATM will be similar as normal ATM in the future?

I have yet to see one anywhere near where I live. Of course I have also yet to meet
another living, breathing human being who uses bitcoin too.  I live out in the sticks,
but actually not too far from NYC.  My little piece of god's green earth just hasn't
caught up to the rest of civilization, I guess.

Would love to see a bitcoin ATM near me.  I'd use that thing until it its keyboard was
a smoking mess of melted plastic.  I just have a feeling that a bunch of regulations
are standing in the way of this.  As far as I know, you can't even operate an exchange
or buy bitcoin on one if you're a NY resident...so there's that.

Yes as the awareness of bitcoin grows in the world people will need more bitcoin atms.
But i think government should get involved to make btcoin atms.
That will make user feel safe plus government can profit from transactions.

Bitcoin ATMs are completely distinct from fiat ATMs.  Fiat ATMs are a means of converting from one form of fiat money to another - different types of fiat money that are useful for different purposes - but Bitcoin ATMs are a means of converting from one form of currency to an entirely different form of currency.

Considering that converting from one currency to another in such a way will require high fees and that it's much better for a user to convert their currencies through other means, Bitcoin ATMs will always be a bit of a gimmick.

They'll always be useful for newbies to have something which they know about (ATMs) but they're certainly not comparable to fiat ATMs.

Why not? But that entire depends on that particular country's legal structure on bitcoin. If bitcoin is legalize in a country then many private companies will be interested to install bitcoin ATMs. However, alone bitcoin can't make an ATM business successful. So it will be a good idea to incorporate other successful crypto currencies in ATM system. So that people can buy and sell altcoins using an ATM. Only bitcoin ATM doesn't look like a profitable idea but an altcoin ATM can be.

I think as much as bitcoin is a currency, it won't be as widely used as a fiat currency. Many people who use bitcoin also use it as an investment, and for that reason, they don't need to depend on it as a currency. I think there will be a lot of bitcoinatms available in the technologically strong areas, first world countries, etc., first. After some time, we might be able to see some ATMs popping up in other places, but I don't think the amount of BTCatms will be the same as fiat ones.

I could only see it happening if some major bank chain or one of the Visa/Mastercard type businesses were to fully embrace it.

There are many debit cards though right now issued from various companies that can withdrawal cash and debit your bitcoin balance, and they can be used at most ATMs right now. I guess if you are looking to buy BTC from a ATM you will need to wait unless you live in or close to a large city.

Myself, I am not looking forward to an Bitcoin ATM on every street corner as much as I am looking forward to no longer even having the need to use one, which will happen once most shops and businesses accept BTC.

hopefully yes! because its hard to withdraw bitcoins easily when we only have about 4 Bitcoin ATMs in my country and just in the chosen cities. But as soon as it gets known by the majority then its solved. And even those in rural can have the accessibility of Bitcoin itself

No. Bitcoin ATMs don't carry the same level of convenience in the Bitcoin network as ATMs do in the fiat network. It's easier to acquire and use bitcoin without an ATM. And the cost to buy or sell bitcoin through an ATM is horrible. It's probable the worst rate you can find compared to any other exchange. What Bitcoin ATMs may offer is a bit more anonymity to who's buying and selling, but this is driven entirely by the procedures set forth by the Bitcoin ATM company.

I am aware that there is a bitcoin ATM and said that there is one in existing in our country, that is the only one being described to us. Yet I haven't seen it before. Hoping that I could see one when I travel there.  It's truly clear that bitcoin is not yet that familiar here.
With prices almost reaching 7k I think it will be more popular and along the process developing machines for bitcoin will be undoubtly take in place.

Actually with the advantages of bitcoin technology, not required a lot of ATM. because blockchain technology can be adapted in all types of transactions. currently there are many platforms that adapt blockchain technology, take samples such as taxi payments, apartment payments, and shopping at the mall

Err... For it to be similar, there needs to be more bitcoin ATMs to exist. There are very limited amount of bitcoin ATMs. And speaking of fiat ATMs, they are the worst. One, half the time they don't function in the city i reside in and travelling also takes time to the specific bank's ATM. The services rendered by the bank are getting worse by the day, and I just pray that bitcoin ATMs don't function the same way like normal ATMs do.

I just don't see the reasons to have them and they would become targeted by hackers.

I think Bitcoin will be global currency so we need a lot of ATM of btc :) İt just is dream but btc and atm of btc are spreated in all world. We may use atm of btc because sometimes we have cash money and we deposit card and send btc İt is very hard.

Maybe in the future there are bitcoinATMs, as you can see many people are already using bitcoin so in order for them to have transaction easily ATM should be needed in the future. As of now where small fraction of the society has knowledge on bitcoin lets just settle for our traditional way of transacting bitcoin.

Well yes! BTC is still not in the mainstream yet. There are still some places bitcoin is not accepted. I hope i can try that ATM.

I really hope that Bitcoin ATMs start following free market principles sooner or later because up to now it still is an oligopoly. A few companies are selling Bitcoin through their ATMs at ridiculously high rates, bewbies would better just be buying off regular online markets of the existing web of trust.

If they keep the fees they have right now on their future platforms then they might be wide spread but they won't be nearly as successful. The fees on the current ATMs are already way too high, if they try to do anything more then it will be almost completely ignored. There might be a lot of companies trying to run their own private ATMs, which I have no issue with since privatization is typically best for the economy across the board, but they won't be able to compete in any way if the fees are full-on stupid. It's pretty subjective across the board, really. I don't know how people pay attention to fees, if at all.

Mmm i have not seen any bitcoin atm in where i live, and there have been a lot of fake news about bitcoin atm's in my country, they said that more than 200 atm's were going to be built in here (it was posted on 2015) and until now, nothing has been built. But yes, it would be amazing to have one of them here in my city, because it would mean that i would not have to make 20 milles every week to exchange some bitcoins for fiat money..
But i think that it will be the same for so many years, my country does not support bitcoin at 100%.

Want one in tokyo

Hope that it can be happen in the future here in my country but until now we are still had 1 bitcoin atm here and hoping that they can add more bitcoin atm so that othr people could be aware about bitcoin atm that can attract more other people here if they know about bitcoin and if they use bitcoin they know that they can instantly withdraw your money from bitcoin to fiat or deposit your money and exchange into bitcoin ..

I don't really see a big need for them. You already have crypto cards, that let you withdraw using normal ATMs and if you want to be able to use ATMs to buy bitcoin, then there will be a much better option in my opinion, that is going to be using the Pundi infrastructure. Their devices are small, and can be used in any store, almost like "merging" those local stores into the blockchain. You will e able to buy and sell crypto on any local store, using a plastic card or a mobile app. You will also be able to buy goods in the store using the same devices. The devices are small and portable, support multiple coins, and have multiple functions. It's just way better than a common ATM in my opinion.

everything will be possible if the purpose and the result is to move the progress of a country and economic progress of its citizens but for now is still too far from that goal because facility facility and supporter to access bitcoin in my country still too minimal

I think that's very good. People can be easier to transact in traditional markets or places that do not receive transfers. Some places of sale are still using cash and do not want to use credit cards.

Although in fact, the easiest thing is to transact using a smartphone. Just a barcode scan is enough and safe. I doubt if people can hack and steal other people's money without knowing the passwords of others. The hackers must definitely know our password to steal our money. So we have to be careful and use a complicated password. We should use uppercase and small letters and symbols.

But I'm curious, who created atm for Bitcoin? And how do they make money?

Say what?!
Goverment+ BTC is against everything that block chain stands for.
And I do not see any point of BTC ATMS at all only as marketing tool.

Bitcoin machines are not ATMs in the traditional sense and probably use the wording ATM as a neologism. Bitcoin kiosks are machines which are connected to the Internet, allowing the insertion of cash in exchange for bitcoins given as a paper receipt or by moving money to a public key on the blockchain. They look like traditional ATMs, but Bitcoin kiosks do not connect to a bank account and instead connect the user directly to a Bitcoin exchange. I live in Torontoand it has become extremely easy nowadays here. Soon, it is going to be all over the world!! And that is really cool.

Well, I can see that in the future. I think that would be a good thing to consider too since the bitcoin transactions now really in the high fees and maybe these ATM's will be nice to withdraw your funds from anywhere you go as long as ATM would be cover on that area. These will be good for travelers who has bitcoin on their wallets and ATM cards because they can go anywhere they go even few dollars do they have on their pockets but because of the presence of bitcoin ATM's it would be possible.

I guess so! since bitcoin is being more popular everyday. And there is a certain project where the main objective is to build more ATM machines in the united states for bitcoin and any other cryptocurrency. And then later in some part of the world. And I think it is just a start of bitcoin ATM's evolution.

Bitcoin ATMs are the future. The key is having low enough fees so that current experienced Bitcoin users will want to use ATMs instead, and to be in enough locations that mainstream awareness of Bitcoin and other cryptocurrencies grows enough that the average user is drawn in to the Bitcoin world. If everyone started using these ATMs as a bank account alternative (one with much higher interest rates) then it would benefit us all.
Or if you need to withdraw a larger amount of money than a normal ATM card would allow in a day. Or send money across the country to someone instantly at 2 am without having to pay a heavy fee like Western Union.

These machines are more than just marketing (even though they do help bring awareness); its just the potential uses grow according to how common the ATMs are. Bitcoin itself can be much more useful than fiat cash, again its uses grow the more people are aware of it, more people that have it, and more that are willing to pay for or accept transactions with it. You can't pay your buddy back the $20 you owe him in Bitcoin if he doesn't know what it is, at least he probably won't want it.

The big complaints about Bitcoin ATMs aside from not enough locations is lack of altcoin support, inability to sell Bitcoin at most machines, and the biggest the high fees (up to 25%)! If Bitcoin was more mainstream, ATM companies could afford lower fees because their machines would have more users. If there were more machines (more competition among ATM companies) then the fees would also go down - one day there could be several ATMs in every town, run by separate operators competing with each other on prices. Like say gas stations across the street from each other each trying to have the best price on gas.

What about the price changes in bitcoin does this possibly affect the development of bitcoin ATMs?
there are some countries that still prohibit payments with bitcoins. May they realize that the World has changed rapidly.

As awareness of bitcoin gets expanding there will be more bitcoin ATM. This will enable power that may not want to user exchangers to go straight to the bitcoin ATM  and exchange their bitcoin to fiat. The bitcoin ATM will further give people confidence in bitcoin. People will see bitcoin as a currency that can be easily cash out.

I don't think so, no. The way I see it, Bitcoin ATMs are a novelty more than anything. I love them, because they serve as excellent advertisments, showing people that there truly is money in Bitcoin, but as for their original utility, I personally find them kind of useless.

All your Bitcoin transactions could be done at and within the safety of your home, online. You can buy, sell and trade to your heart's content, pretty much 24/7 for as long as you have electricity and an internet connection. That being said, when will you truly need to use an ATM? Should you need to buy for an emergency, you only need to log into your exchange and buy. There may be a few scenarios when Bitcoin ATMs could save the day, but I don't know. They just seem impractical in the grand scheme of things.