Bitcoin Forum

Saw the coin machine but the price was around 10 percent higher.

That's bitcoin ATM right? They are supposed to charge at a higher rate since they're also trying to make a profit from selling you BTC. You can go directly to centralized exchanges that offers spot trading like Binance if you want to buy at market rate.

I thought title was a mistake and it should be "safe way". I found out it's a grocery store.

yea, its a grocery store should have took a pic. The i think that was Coinstar but Bitcoin of America ATM was around 10 thousand dollars more.  :o

If you're in america, esp in those big cities and states, bitcoin atm machines can be seen more often on malls, restaurants, groceries and its pretty normal like an ordinary atm machines, only those knows bitcoin can notice it.

If a bitcoin ATM isnt enough to get people moving i dont know wat its gonna take. maybe the federal reserve get that digital coin to the banks.

Bitcoin ATMs usually have higher price compare to the market price.

Well, it's coming to that point and it's starting with the financial institutions that really are interested to know about bitcoin. But going back to the ATM, have you gave it a try to purchase even for a small amount just for the sake of experiencing it?

Well, this is normal for any running business, and the bitcoin ATM is a sort of business that operate by a private company that relied on the revenue of the bitcoin ATM machine. The high fees are the profit they will generate to make bitcoin ATM machine businesses will survive in the future, of course, the rent space they had on a center mall or any public places. If you worried about KYC verification while accumulating bitcoin, the bitcoin ATM is the answer.
But if not, I preferred to offer an exchange site that has a lower fee compared to a bitcoin ATM.

Wow, that's too expensive! Why not try buying bitcoin online? On platforms such as Binance, CoinBase, CoinMama, or Blockchain.com e.t.c. on these platforms you can buy bitcoin with credit card with less than 2% fee - if not fee of charge. I think the bitcoin ATM providers are charging higher fees to cover their own expenses but 10%  is still high, they should charge small fees to attract more customers, that way they can generate more income.

It's the price for convenience as well. You can basically have X amount of BTC (I'm unaware if there is an withdraw limit, but probably there is) without the need for the KYC process that most of the exchanges have. Plus, this also has an increased anonymity since I believe that the only way to buy BTC in these machines is by using FIAT right? So no credit card information going around, which is also a plus.

You can check out bitcoin ATM's near your place here,

https://coinatmradar.com/

Yes, they are at a premium price, not recommendable, but if you are just trying for the experience then go for it, although it is very accessible. So you have to weight the pros and cons before using a BTC ATM.

It's the problem when it comes to bitcoin ATH because it has higher prices and usually higher probably because the ATM has maintenance. And I don't actually see the meaning of creating a bitcoin ATM because bitcoin is an online transaction so it would not make sense for me to find a bitcoin ATM if your planning to buy bitcoin or you going to make a transaction I don't think it would make sense at all. If you buy on other platforms the prices are reasonable and it is much easier to buy than finding an ATH that is not available in every place or country.

If it was at Safeway they it was a Coinstar.

But as for fees being high, it's all about location and how many are nearby.
From what I have seen here in the US, if there is one ATM by one company in the area then you are going to get hit with higher percentages to buy / sell.
If there are more in the area the rate gets better.
Las Vegas is or at least was a good example of that. There are a lot of machines from several different providers so the fees are sane.

Go to central Ohio, you have very few and fees can be more then 10%.

-Dave

Won't this be discouraging for people who which to use bitcoin for their everyday offline transaction? Imagine travelling to a different state just to get a sane price for Bitcoin.

if you mean ATM, you can try to switch to an exchange transaction. there you can get a cheaper fee, try and get a profit there, because you can make many exchanges as an option and you can make withdrawals with a small fee

I'd rather choose to purchase Bitcoin online exchange rather than buying on the ATM machines.  If you annoyed with the Coinbase high fees and feel sucks, Bitcoin ATM's sucked harder.  It might you have a problem upon inserting the bills because I have heard they accept only larger bills at one transaction.  It's about 20-30% fees when you compared to the online exchanger.

Bitcoin ATM is good when you're in the travel and want to purchase Bitcoin as a payment and blindly accepting the high fees.

You can check Bitcoin ATM at https://coinatmradar.com/bitcoin-atm-map/
I try but can not find any manufacturer has a name as Safeway or Safe way: https://coinatmradar.com/manufacturers/

What's wrong?

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Coinstar and Coinme have 5607 locations: https://coinatmradar.com/manufacturer/103/coinstar-and-coinme-bitcoin-atm-producer/

I mean so far, it isn't supposed to be used for everyday transactions (at least, I don't). It's more like just an asset that you can use to pay for other products in other countries (or more specifically, transfer funds), without much issue. Just get the wallet address and you'd be done. Not to mention that as you said, fees are insane, not only for BTC ATMs  (which purposely have higher fees to take profit) but just for standard transactions depending on the congestion of the network.

Sorry but i think you should add Link about this Safeway because i have checked all my Browser yet I did not find any thing?

Is this an exchange? if does mind letting us to check where it is .

nope He is sharing a specific place where to buy bitcoin , But i cannot see anything in similar ..

Bitcoin ATM Name Safeway  is only available in US right ? so that is not applicable to advise people in General here.

But Yeah congrats to those who had access with that machine  coz I'm not lol.

Wow, 10k above the current price that is almost 20%, that is not a small amount at all, if you really want to buy bitcoin then use exchanges since you are only going to need to pay a slight amount over the current price, now if you want to retain some level of privacy maybe peer to peer trades could be a better choice for you and the best part is that even if the price you will have to pay will be higher it is not going to be anywhere close to the ridiculous fees those ATMs charge you.

I dont see any need to buy bitcoin through atm while there are many good exchanges where you can buy easily at the real price...many exchanges now support fiat deposite and binance is one of them and i believe by the time many people arround the world will be able by the time to buy bitcoin directly using cash

Atm are safe comparable to p2p buying but 10% is really expensive especially for huge transactions

I also thought about that, I didn't know that safeway is really a grocery store but it is good to know about this.

Bitcoin ATM is also a good business to invest especially that fees are made so that companies who own it will also benefit that machine.

I tried buying in a certain platform and I think it is much easier for me, especially that I've studied the exchange first before I make transactions with it. If Bitcoin ATMs are available in your area then that's good for you because you will experience how bitcoin is evolving.

Safeway is a grocery store

idk its available though if you want to buy

10% not $10K
As I said in areas that do not have competition that seems to be the normal amount.
It's like a lot of things, if you are the only place that people can get your thing in the local area you can get away with charging a lot more.
Once competition shows up you have to change your ways, but in the beginning you can charge what you like up to a point.

-Dave

Buy safely or buy cheaper is different issues,  there are many ways to buy BTC safely then you may pay little bit more than the regular. If you want to buy in a cheaper rate then you aware more so you have to khow well about all the way then it will help you to take decision.