Bitcoin Forum

Two years ago the Bitcoin ATM was one of the most popular hardware devices Bitcoin had to offer. While miners remain financial viable, Bitcoin ATMs have sadly been left behind as the cryptocurrencies further innovates and integrates into current systems. Found in railways and shops a Bitcoin ATM would be tucked away in most cases gathering dust and increasing maintained costs forcing many to cease offering its services.

ATMs are ok, but I think in these situations where it's affordable to hire real people it's better to have a kiosk with a realy staff member that people can speak to and receive help from. In place like the US of course it's quite different. But people should try to take advantage of their human resources first when they can.

While this is a welcome news if true, I am yet to find where this ATM is located and I am quite sure the patronage it will receive is going to be staggering. However, there is a snag. While the ATM is to facilitate the speedy transaction, we need to ask who have set this up and what are they into? How does the user interact with the machine. Overall again I think that the cyber security around this kind of unit MUST be airtight.

Nigeria as an underdeveloped countries will wait for some time before having a bitcoin ATM due to the low level of technology and industrialization in Nigeria, because bitcoin ATM is a new development in the bitcoin network and just few developed countries are having bitcoin ATM at the moment and it the responsibility of the blockchain to installe bitcoin ATM since the blockchain is the bitcoin bank.

Bitcoins is seen as a luxury goods in developing economies like Nigeria and I don't think there will be a good demand for an ATM machine of bitcoins since the development of blockchain in Nigeria is in infancy stage.

Having bitcoin ATM's in Nigeria could be awesome and a step in the right direction for Africa as a whole. If acceptance for bitcoin and other cryptos is increasing expanding, having ATM to that effect would enhance transactions. Banks introduced ATM as a solution for queuing, hence having bitcoin ATM would also reduce traffic and increase awareness 

Well, I think it will give much convenient to Bitcoin users to have that ATM machine therefore they can easily get money thru this. As we can see, as of now there are a huge of people using btc so it can be a big help to them that bitcoin ATM is possibly anywhere.

Asides south Africa that looks a little improved in the use and exchange of bitcoin, all other countries in Africa are really struggling  due to low mass acceptability/ADOPTION and internet deprived access. ATM machine shouldnt be the next move to increase acceptability.

looking at the economy of nigeria holistically, and with the low interest and information of bitcoin to nigerians, establishing an atm mechine for bitcoin wont be advisable for now. yes bitcoin will thrive in the nearest future, a lot still need to be done, publicity of bitcoin should be made utmost and maybe in the nearest future nigerians will embrace a bitcoin atm mechine.

I see this development as very positive
Will promote awareness of the idea
And make it easier for cryptocurrency dealers there
Africa has a lot if it spreads awareness

Decision has a positive effect
But let's be realistic
Nigeria is a poor country and its digital currency market is small

We need such decisions in other countries

Having a bitcoin ATM machine In any country is definitely a step and great opportunity for cryptocurrency investors to convert their coins/tokens to fiat easily.  The last I know of Nigeria is that, the government over there is yet to give to an approval  to cryptocurrency.  This would have made it easy for banks In that country to invest in Bitcoin ATM, banks can be in charge and make profits from it.
Reports have it that huge money are being exchange in Nigerians local exchange, with bitcoin ATM, there will be less scam and easy of conversion.

The benefits of these ATMs are to make it easier to do bitcoin transactions when someone does not carry a cellphone and does not have an internet connection, the ATM also acts as a crypto use campaign, the general public will better understand crypto via the ATM, because the ATM usage method is almost the same as ATM Bank.

the establishment of bitcoin ATM machine is not really a bad idea because some folks think that we should not really put the world into a cashless state but we can run them both at the same time. So bitcoin ATMs are being established to prevent the long standing hours and the trouble of having to sell at exchange.

there are a lot of such as, just not everyone can place on the card. it's not official. The sense is simple-advertising and Commission

Having Bitcoin ATMs installed all round the globe isn't an issue but personnel's to act as support to any challenges while accessing the ATMs will be great as well. Nigeria as I was made to understand is doing great with the blockchain technologies, so having ATM isn't a bad idea.

If one can be able to cash out Naira equivalent of its coins from these machines, that will be great you know, plus Nigeria is definitely recommended for one because more and more people from this region keeps entering the crypto world each day. So an ATM machine for BTC will be well utilized; a welcoming development.

it makes perfect sense. It is easier for local people to purchase bitcoin for cash this way, rather than going online trying to buy on exchange for the currency that might not be acceptable, not speaking of KYC

I think this is more for promoting and creating awareness of bitcoin rather than focusing on the actual usage of it. Every country should really make their first step to show that they are supportive to crypto currency .

I think that there will be much more conviniency if a country legallizing bitcoin has an atm machine on it. This is great for the bitcoin enthusiast, as for nigeria it is good to them that they can withdraw their bitcoin as well.

Bitcoin Automated Teller Machine (ATM) is a good development but I don't see it being sustained in the near future. The reason why its a big relief for the fiat economy is because the cost of going to the bank to queue in other to have access to your own funds, the cost of hiring more bank workers to attend to this customers, the cost of having to build larger structures, branches and security to cater for the customers, outweigh the cost of using the ATM machines but for bitcoin, all of these costs have been covered and reduced to a large extent.

I don't see anyone who wants to buy or sell bitcoin and ATM machines is the first choice considering the availability of several options. We have exchange sites that allow fiat deposits which can be done from the comfort of your room, you can visit peer to peer sites and get things done, you can also have group of traders in your locality that would make things more easier without even putting into consideration the premium that would be placed on buying and discount that would be placed on selling by the ATM operators.

In Africa, the larger question that remain unanswered is who will regulate the activities of this ATM and unless there is a backing by a reputable bank with the support of the Central Banks, its not coming anytime soon.

The latest news I've heard is that a lot of big cities in Europe have started to decorate these ATMs, and last month dozens of machines were installed in Switzerland. Although I don't know which organization is set up, with the expansion of the encrypted community, there will be more bitcoin ATM in some densely populated cities in Africa.

Before Bringing the btc atm to Nigeria, first the technology has to be on place and also the necessary infrastructure required for that. We all know that this country is backward in terms of technology hence the forecast of technology should be intact before the blockchain technology is implemented and later on people can be made aware of crypto currencies and all. I suggest we all should support for this cause and make people aware everyday about the crypto space.

for any technology the main task is liquidity. in this case, I see this news as excellent

I think this is the best step to promote bitcoin in Africa, because I am sure that with the presence of atm in Nigeria it can definitely make bitcoin develop in that country.

maybe with the making of the machine makes it easier for the transaction process and the possibility of a time when bitcoin can be accepted by all countries as a currency that can be used for transactions then the ATM machine will be created a lot

If this is true, then it is a step in the right direction. Most people believe more in physical things they see around. The fight against bitcoin by Fiat currency needs these innovations to counter them. Even if the Bitcoin ATM machine does not serve its purpose entirely, the publicity and advertisement it will give alone will achieve something special for bitcoin

A Bitcoin ATM is all about convenience and making it easier for the average person to get access to bitcoins. Let's imagine a situation where you run out of bitcoins, while you are shopping and you quickly want to buy some coins, without having to access a computer and a exchange or buying from some shady person in a back alley.  ::)

You can just walk up to this Bitcoin ATM in a public space and insert some cash and get some bitcoins. Safer and easier than having to search for a internet connection and access to your exchange and your Bank account.  ::)

Having a bitcoin ATM in Nigeria can help motivate people interest about bitcoin thereby causing them to try to find out how the innovation works. It will help the economy too. Africa really need to act fast in bitcoin adoption.

ATMs also act as a cryptographic campaign, and the public will better understand cryptography through ATM, as ATM uses the same method as ATM Bank. As a result, bitcoin ATMs are being set up to prevent long delays and breakdowns at the trading floor. Meaning is simple advertising and commission. So an ATM for BTC will be fine; a friendly development.

Bitcoin is a crypto currency and also the king of All alt-coin in the world, therefore in creation of ATM Machine installation here in Nigeria, i bitcoin usage is more preferred, because the value and potential, which is has more popular usage than any other alt-coin.

i dont think bitcoin atm machine is really needed, especially for third world country like Nigerian. because theres not enough people that really interested and want to join this kind of industry. in addition, the use of atm machines is very contrary to the digital currency concept itself, which functions for ease of transactions, not the same as conventional concepts that require people to come to a place. but if indeed bitcoin atm machine is able to be made in Nigeria, this is good news for the cryptocurrency community.

If people can withdraw money equivalent to Naira's money from these machines, that would be great, plus Nigeria is certainly encouraged as more and more people from this region continue to enter the market. Encoding every day. I think this is more for promoting and creating awareness about bitcoin rather than focusing on its actual use.

I find this very hard to believe that there are bitcoin atm in nigeria and this is my reason that country is underdeveloped and the technology system has no such upgrade to handle such much more time will be needed for that to function properly in that country

Because there is none. If you google it there are no active ATMs in Nigeria at the moment. There are ways to exchange Bitcoin but still no ATMs.
https://coinatmradar.com/country/156/bitcoin-atm-nigeria/

If I was a merchant there i'd be afraid to invest 10000 USD in a machine that can be stolen the next day by some gang. Nigeria is not the safest place if you're wealthy or want to start a business.

Having bitcoin ATM will benefits the bitcoin and the holders of bitcoin of course, because they can use bitcoin more easily.
Bitcoin ATM will create some public awareness too, peoples will see the ATM and they will ask how to use that.

for the existing bitcoin ATMs, I think this belongs to a group, they have organizations and even projects. the responsibility for the responsibility already exists on the project. just like the website exchanger, there are teams that work there. for benefits I think to facilitate transactions to their real money.

So bitcoin ATM's are really spreading much rapidly.
I remember at the starting there were few bitcoin ATM's in the whole world and they are really increasing day by day. This is a good sign and hope that nigeria increases there support for bitcoins after launching their bitcoin ATM.
I am actually waitig for my country to start such ATM soon.

Such news are a boon to Nigeria and the transformation from underdeveloping to developing countries tag needs a lot of efforts to be done on the ground.I still believe btc will be a boon in developing the economy and also their blockchain technology would help them in developing in many sectors. I strongly believe that Nigeria also will see such many more ATM in the future to make the conversion process fast and make cash easy for people so that they can have their survival.

is the ATM machine safety? in my country they don't use bitcoin like that. they just buy things in the website or face to face

Wow. Its good to hear but there is also a negative effect of it in the society. ATM machine is anywhere, we can see it in every banks corner. Its my first time to heard about negiria's bitcoin ATM. It means the crypto there is fully accepted. Many people are still curious about this thing because there is many questions in our mind but we could not also know how to answer.

That is not new, i've seen some people posting on social medias a photo of Bigcoin ATM machines located at Japan, Korea  and China one year ago.

That's great if there is Bitcoin ATM Machine in Nigeria. That's mean in Nigeria people aware of Bitcoin and it will grow up every day. The Bitcoin community will grow up as well and I hope there will be more Bitcoin ATM around the world.

Bitcoin ATMs are installed in many countries in the world. Current distribution of installations across the country can be found on the Bitcoin ATM number chart by Continent's State ATM or Bitcoin installation.

Bitcoin legalize in Nigeria? Bitcoins ATM machine setup possible only btc friendly country and i think randomly it's setup very difficult because btc banning countries not deserving it. Nigeria not a btc regulated country i think, but it's business is very popular in this country.

Nigeria is one of the countries in Africa that dare to legalize bitcoin if it is true they apply bitcoin atm. maybe it has a good impact on the country so I think it's a good thing and the country of Nigeria can participate in developing bitcoin.

For reasons unknown there are many scams originating from Nigeria, not crypto related but phone and email scams. An atm machine there will help with legitimate and immoral purposes, either way it will do well

Bitcoin ATM machines has been one of the innovations that has really helped the world the cryptocurrency world in every dimension and this is because it has made withdrawals very easy even for the laymen. 

I feel very happy, bro. there is a bitcoin ATM machine. Hopefully this will be a fresh breeze for bitcoin so that the name Bitcoin and Bitcoin enthusiasts will increase. as well as the price of bitcoin is getting better soon

this is a big change for a country in the African continent to dare to speculate by giving atm machines. I think maybe if in Nigeria the government had legalized crypto and dared to think about speculation in the future so it would affect the presence of atm machines in Nigeria.

I believed this news is baseless cause there no proof that some Bitcoin ATM was indeed implemented in Nigeria and the last time I checked their government don't totally support or ban cryptocurrency but they called it gambling. However, the OP of this thread was asking about the organisation behind the setup of cryptocurrency ATM machine and what will be the benefits if one is setup in Nigeria.

i think the benefits are to help Nigerian people to buy Bitcoin legally, directly and quickly. Surely it will be more practical than before. because as i know, Nigeria is one country that uses Cryptocurrency and bitcoin for their businesses and encourages cross-border trade and payments.

so, bitcoin ATM will help to simplify their work.

First of all, bitcoin ATM is not a new thing. And the main purpose of bitcoin ATM has been made to make easy transaction to change our money into bitcoin. In my opinion, the organisation which is responsible to setup this ATM machine is the organisation which from an exchange or market. And absolutely the benefit is the market will get more user and also can get fee from the user.

So Nigeria had a Bitcoin ATM Machine? I ahev never seen them in our Country, but looking later to utilize.

there is a great bitcoin ATM that will certainly help the local community to make transactions. with bitcoin being easier to use, more and more people will believe in bitcoin and I'm sure many people will hunt for bitcoin.

Benefits mate, benefits of setting it up!

Any person who has set it up will earn some commission whenever the machine will be used by other traders. Also the importance of ATM machine is that you dont have to go online, open up your wallet and deposit fiat money over it, wait for its confirmations and then buy your desired currency.

Well, when you will be using an ATM machine you will have advantage of doing it almost instantly. You can deposit the cash at the machine and buy the desired currency with few clicks.

there must have been a lot of people to do bitcoin transactions in the country because the atm has been set in that country and very many people invest in it.

This is a great development in the crypto community, it slowly embrace by the people and use it. Bitcoin automated teller machine is such an awesome idea to reach some countries that have interest in bitcoin. Its an improvement that will continue to spread in the whole world.

Some major organization responsible for the production of ATM machine are sa follows to mention but few:
1] Bitaccess :: Read more about them: https://www.crunchbase.com/organization/bitaccess
2] COVAULT :: Read more about them: https://covaultbtm.com/blog/best-bitcoin-atm-machine

As we all know that, most country in Africa are underdeveloped and Nigeria is among them, so, there is no point of mounting Bitcoin ATM Machine in a country were the said Bitcoin is not embrace by the Government, is of no advantage to such country.

Bitcoin ATM is just similar to the bank ATM wherein you can withdraw cash and to be deducted from your savings. Same with bitcoin ATM, you don't need an internet, laptop, or gadgets just to withdraw cash and to be deducted from your bitcoin savings. This would be helpful for places where internet service is not that good.

Spreading bitcoin ATM machine will likely use for good and event your not aware like accident and so, let's just imagine a person with btc driving a car then accident happens but apparently she/he don't have a local money in their hand that's were bitcoin machines comes in, it just one of many possibilities may occur while your outside or away with your home.

Bitcoin ATMs serve as easy access to your bitcoin account to easily convert them to cash without any hassle, you simply insert card then cash out the desired amount. The only problem with this is the conversion factor, we know that bitcoin is fluctuating really sharp, so exchanges maybe in high or low. Don't worry, by the time bitcoin is very stable and mainstream, these ATM are really good help.

Having an ATM bitcoin creates the advantage that includes the economy, currency, higher income population for Nigeria, most importantly providing one of the easiest ways to buy and sell Bitcoin as a safety net. A familiar machine that many people have used in the traditional sense.

there must be someone responsible for this, for example, where might install an ATM without any responsibility. this is certainly very good news that can be used in buying and selling

Of course there will be benefits later, even though I have never seen a Bitcoin ATM machine with both eyes directly in Nigeria. I am sure that there must be a good goal, of course there will be those responsible for preparing or managing the machine. And this is generally good news for bitcoin users.

Bitcoin development is not yet accepted by the Nigeria Government . Most Nigerians are scared about the internet of things , they believe much on physical cash than  digital cash. although if accepted it will be a very big bull Run . Nigeria is a marketing ground for any technology to expand and grow rapidly . in my opinion plant ATM Machines in strategy location , all Nigerian will take Bitcoin to the mainstream for global recognition.

Bitcoin ATM Machine build up in Nigeria it is good news for all Bitcoin users Because Nigeria is the under developing country at this time if bitcoin provide this service so Nigerian people join the bitcoin .

Since nigeria is one of the poorest countries around the globe(sorry for being hard but thats how a have learned about nigeria)maybe its more appropriate for them to use atm than hire real people that may cost more expensive than a ATM machines

And mybe this is those place who’s the machine is usable nowadays as the cryptocurrency are getting more and more accessible via online than physical offerings

ATM Machines anywhere in the world is essential to all bitcoin users. But seem to risky too because bitcoin is very expensive and we cannot assure how secure to transact in a atm machine. There must be someone who is there to assist or to watch over while doing an atm transaction. But bitcoin atm is one way of making access to easily withdraw your digital money and convert to fiat.

of course all of that really requires the person responsible. because something is always there in the process, and the process must be managed properly. so we should be happy with the news that is currently available. because we can see that bitcoin is getting more and more developed, so we don't need to be surprised by the ATMs in Nigeria. Moreover, the bitcoin ATM will always be available in each country.

Really doesn't know yet which organization set-up this ATM machine and who are those that will behind it and managing it. Though bitcoin ATM machine is just like all normal ATM machine that will be used to exchange one fiat directly into bitcoin and vice-versa and this is going to bring a lot of great development into the country crypto sensitization and publicity.

From you title I thought that bitcoin ATM has been established in Nigeria already I know Nigeria has also gotten involved in cryptocurrency but not to the extent of having a bitcoin ATM in there country

Looking in the news for the past 1-2 years, one will know the government doesnt support it. The lack of support is due to ignorance considering the news read. The trade of fiat to bitcoin on remitano was recently stopped through the bank. The on-ground  presence of crytocurrency trade in the country is not what the community prepare for now but other cryptocurrency/altcoins are creating more platforms in Africa.

That is a good development to have a bitcoin ATM in a third world country such as Nigeria and that will make cryptocurrency readily available for it users, and as a decentralized currency without any regulations it offers the total financial freedom to it users. This news is a good news having a decentralized ATM for bitcoin transactions in Nigeria.

On the one hand, this is a very convenient thing because everyone can safely exchange their money for bitcoins. But few people will use it, I think. After all, while the use of cryptocurrency is not very developed and most of the population is not familiar with it. But I think this is a good step towards development. And perhaps this will significantly accelerate the use of cryptocurrency by many people.

Well, that's a good thing if that's the case. However, we should also consider that Nigeria, in reality, is not one of the richest nor technologically inclined countries around the world. No offense to them, I am just stating that because if a person would see that a not so advanced country would invite changes and improvements related to the cryptocurrency market, I don't think people would give it much attention. Imagine if the same action was done by the US, I think the whole world would go nuts. However, on a positive note, it's a good step towards better cryptocurrency recognition.

I think it is used as a quick access to bitcoin, I imagine it will facilitate future use and create a certain degree of familiarity that will give a little more confidence to people who want to invest in bitcoin, as saying "hey! look! we are so legitimate that we have an ATM".

a news of the development of the crypto currency that is increasing rapidly, of course and other countries will make it like Nigeria and other countries.

awesome news if it woks then it is advantage for bitcoin users also it will boost the popularity of bitcoin here in Nigeria

this is another news that prove bitcoin is really adopting in mass country and  a country like nigeria is using blockchain technology and bitcoin greatly proved bitcoin is really strong.this kind of development news is good for bitcoin.