Bitcoin Forum

Well, satisfy don't blame me I am just delighted about making some transactions on the machine today,
I have always wanted to see what it looks like most times I do see the pictures of it on the forum, many people do many a thread about it

https://www.talkimg.com/images/2024/02/17/YCNz3.th.jpeg (https://www.talkimg.com/image/YCNz3)

How does it feel when you first make your first transaction on the Bitcoin AMT machine,
Well, I guess for most of us it has been a daily rationale for you guys well

Why I was this happy because, in my regional society, there is no such thing as Bitcoin ATMs.
Most people in my society don't have a better knowledge of Bitcoin, so I could not see the machine or have a better knowledge about it but I still memorized some techniques on how it  Also with the help of this forum I got to learn about it and how to make transactions and also to deposit

Is there any crypto ATM in Nigeria? If yes I will like to get few location to them.

Bitcoin ATM most that I have read about have a very high rate compare to current market price there price is always higher  so its not even a good thing to make good use of it to buy bitcoin.

If you truly used the bitcoin ATM like you claim could you please share us some light as to how the process started and how it ended and which option you used deposit or withdrawal?

With your post history I just finds it hard to buy your story any more.

That's great, i haven't found Bitcoin ATM in my city yet, but when i see one i will use it for sure. But i have some questions for you.

1.- How high were the fees on that ATM?
2.- Were the fees based on a % of the transaction or were they constant fees?
3.- How much was the minimum transaction?
4.- If you make a depo in bitcoin does it wait for 1 confirmation to give you the cash?

It's just an image taken from Google. The image you used can be found here: https://coinatmradar.com/bitcoin_atm/39163/bitcoin-atm-general-bytes-lagos-ci-cryptosolutions/

https://talkimg.com/images/2024/02/18/YCkVa.png

According to Google data, the ATM is located at:
https://talkimg.com/images/2024/02/18/YCvpo.png

I wonder why this member often makes up questions, and I think it's just a lie about him using a bitcoin ATM.

So.. if you actually utilized a Bitcoin ATM.. probably describe your experience in utilizing one? The only quote that is borderline about your experience is just that you were happy when you found out that your region had a Bitcoin ATM lmao, and the rest of the thread is pretty much just fillers.

Politely op for your knowledge I suppose there are two Bitcoins ATMs in Nigeria
Op well I live in Lagos so there is one over there in my area is presently at 1 Dazey Lounge Lagos Nigeria
You can take a look at it on the map here
https://www.talkimg.com/images/2024/02/18/YCfZT.jpeg

Well their dedication rate is too high well when I got there I bought a Bitcoin worth 100$ and the gas fee I was to pay was close to 20$.
But most said if one is lucky they can charge 10$ or 15$ what they said but for me, I don't believe that.

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Op please what do you mean by calling me an untruth person op let's be watchful of our tough .

Fabricated stories, liars want to earn merit income by cheating scams.
 
OGsmall pls you post one I want to hear more of your story, you are a drama film big producer so the audience won't understand. If you feel like you are still living in a fool's paradise, but remember that everyone is a fool and everyone understands this trap of yours.

Lol Deposit,

This story of yours couldn't fool anyone, got caught in the beginning. They must be punished so that no other system can be implemented in the future.

I think this is a fabricated story because though the initial ban placed on cryptocurrency in Nigeria have been lifted but regardless of that the physical exposure of Bitcoin hodlers is minimal in Nigeria because a lot of people are still afraid if the ban that was lifted isn't a strategy to apprehend crypto investors and in Nigeria most people talking about Bitcoin or investing on Bitcoin are rather anonymous than being visible to the public and a user here @PytagoraZ has confirmed that the images are gotten from Google so you should come out with more convincing stories rather than fabrications.

Many people have proved that your story is completely false, even the image of the Bitcoin ATM machine you added to your post was directly downloaded from Google and posted here.I don't know if you have directly used bitcoin ATM machine maybe this is a false argument of yours. As a member here already said if you use bitcoin ATM machine answer that question correctly.

If you answer this member's question correctly, we will believe that you may have actually used that ATM machine.

Op, you have the responsibility to clarify @PytagoraZ findings, including the source from which you took the photo. Your story is starting to be doubted by other users because there are elements of lies in it, stop claiming something you never did. Answering @seoincorporation's question will probably remove other users' assumptions that you have spread lies here with images downloaded from Google.

In my entire life, I have never seen, touched nor used an ATM machine for Bitcoin. Certainly, this is not yet popular here in my country and it can take maybe another decade before I can see one in at least some major cities or locations. I too am looking forward to see it and so some transaction with it. I am just wondering: is it just like a normal ATM where you need a card to be able to withdraw some cash? I am hoping that you did make video with the whole thing so we can see some semblance of that actual beast in action. The only problem am seeing is that many operators of Bitcoin ATM are reportedly not doing a profitable business so that is why this is not growing a lot.

The first time I ever used a bitcoin ATM was in Japan, back in 2019 when there still were some ATMs. It was surprisingly easy and I got the coins real quick. The fee was also still "ok" compared to later experiences in other countries and ATMs.

Back then I paid like 6% in fees which of course is not low but also below standard, at least in Asia.

In Taiwan I used ATMs a lot to get money for living expenses and so on, because my credit card ran out of time and I was basically stuck there until Japan reopens the border (covid time).
The fees though have been horrendous. At the first ATM I used in Taipei the fee was like 15-18% for buying, and similar for selling.
And 1 time I sold a little bit of btc for around 400$, which was around 12000NT$ local currency. For some reason the ATM was out of "big bills", 1000NT$ is the biggest common bill, so it gave me 120 100NT$ bills. That was quite stressful and took a long time cause the bills came out one by one.

Lucky I later found a much better ATM which had better fees, but still around 10%  ::) . And for some reason all ATMs stopped buying btc and just sold (as well as other currencies), that was quite annoying.

To earn merit which required if you want to rank up, then participate in a signature campaign, nothings new right?

Fortunately @OP has been tagged with neutral tag, so it will warn other users before meriting his post.

Without using ATMs, people can do own research and answer those questions.

There's no point to wait for @OP to answer because he will keep lying (https://en.wikipedia.org/wiki/Pinocchio_paradox).

I haven’t had the chance yet to explore a Bitcoin ATM. I'm not aware if there is one already in our country, and if there is, it might be far from my location or only available in the capital.

Hi OP, can you provide additional details or evidence to support your claims, such as a picture of yourself at the ATM or a transaction receipt?

Anyway,  I found this typical process on the internet for using a Bitcoin ATM:
1. Verification: Some machines require some form of identity verification. This could be a simple SMS verification or even ID scan in some cases.
2. Provide Bitcoin Address: You’ll need to enter your Bitcoin address, usually by scanning the QR code from your digital wallet.
3. Insert Cash: Insert the amount of cash for which you want to buy Bitcoins.
4. Confirm Operation: Confirm the operation and check your Bitcoin wallet for the new balance.

It’s always a good idea to be aware of the fees before making a transaction; fees can vary greatly depending on the Bitcoin ATM provider.

We who are Bitcoin users have different dreams about Bitcoin. Some may dream of buying various things with Bitcoin and some may dream of making various payments with Bitcoin. The people of countries where Bitcoin is not allowed, but even if they have such wishes, they cannot fulfill those wishes because Bitcoin is banned in their country. Bitcoin ATM is one of them, in countries where bitcoin is not allowed but we will never see bitcoin ATM but in countries where bitcoin is directly allowed but it is seen that people are doing bitcoin transactions through ATM. First of all you are a bitcoin user and you might be seeing this first bitcoin ATM in reality which has created a very happy moment for you.

Well, that's nice you already tried to use one I mean a must try sort of thing as an enthusiast but I am wondering about the fees, as we all know transaction fees over an ATM is overpriced I've heard of it here in my country when my fellow countrymen used one some years ago.

Been maybe 10 years since I used a Bitcoin ATM.

I used it maybe 2 times. Once to buy and once to sell. I remember buying was easy because you put in some cash and then you show the machine your QR code and it will send you the bitcoins, was pretty instant.

Selling was more difficult. Because most of the time the bitcoin atm had the feature disabled. The one time it did work you had to come back when the transaction confirmed and then you would get your cash, it looks a while if the mempool was back logged.

I'll be honest: I would never use one of those machines for a few reasons: first of all usually they have very high commission compared to an exchange, and that for me would be more than enough to avoid them. Secondly, I would add also a security problem: someone could wait outside and follow you home with the intent to rob your wallet. Maybe that was the first time you ever bought bitcoin, maybe you have a ton of them at home, who knows, that person for sure doesn't know and could have his own ideas about what you own...

Unfortunately there is no Bitcoin ATM in my city. I really want to use Bitcoin ATM to get its user experience. I don't know if it will ever come to my Luck, but bro, you are very happy that you have got Bitcoin buy sell user experience using ATM. I have heard from many people that Bitcoin buying price is very high.  More so than in normal market if you tell what is true in ATM.

Thanks for caught OP lies with proof. I got cornered and also found out he also spread article which contain fake Electrum website. See https://bitcointalk.org/index.php?topic=5482297.msg63681389#msg63681389 (https://bitcointalk.org/index.php?topic=5482297.msg63681389#msg63681389).

Well, based on his statement, it shows that he is not the one that is using the bitcoin ATM, and the title of the topic is about him utilising or using the bitcoin ATM. Well, this is the kind of scenario wherein many members here in the forum make a story just for attention or to boost their account in this forum. But the thing is, it is not normal or good for the community or forum if all stories or topics are made up or lie because we say that this forum is for idea gathering where newbies in the crypto currency world could lurk here and get some knowledge and information, but if you just make a story, then you are giving a wrong or lie story. And to sum up, I don't think there will be an actual ATM for bitcoin transactions, because if there is, then there should be news about that place, and ATMs are popular.

OP if you have utilized the Bitcoin ATM machine, good for you, but I personally would never prefer a Bitcoin ATM machine to either buy or sell Bitcoin. The main reason for that is I don't really need it because I can easily buy and sell Bitcoin without the need of that ATM machine so why should I worry if I don't use it.

How much you have withdrawn from the ATM, and I'm quite sure that Bitcoin ATM's tend to have way higher fees than traditional ATM's. When I withdraw money from a normal ATM using my debit card I pay far less than 10 cents to cash out from it.

That is really nice to hear..If I am not mistaken, There is 1 ATM Bitcoin machine here in my country. However I was not able to use it because I don't know how to use it and what kind of transaction you can do with that ATM machine. I got curious about it, are you on the allowed to withdraw or deposit or you can do transaction with that ATM or even pay bills?

There are two bitcoin ATM machines in my country, both in Lagos and I doubt if they're even operational because of the ban of cryptocurrency by CBN that has now been lifted. Op is a serial liar and he won't come out to defend himself because he knows very well that he has been busted. He obviously wanted to gain merit by feeding us lies about a transaction he never performed. The tag on him by a reputable member of the LB says it all.

Some of the challenges of using the Bitcoin ATM you mentioned are some of the reasons why I will not consider using these services. What is the need to leave the comfort of my home to use an ATM when my phone can safely and conveniently do the same transaction? Just like other ATMs these Bitcoin ATMs also have service issues that can delay or make transactions unavailable. I have also read about scammers using information from ATMs to engage in criminal activities.

The ban on cryptocurrency in Nigeria was targeted at only banks, any third-party crypto platform could provide Bitcoin ATM services. The restrictions might not affect the operation of these ATMs after all some of the biggest Bitcoin ATM providers such as Bitcoin Depot and Coinme are not conventional banks.

My first Bitcoin ATM experience was unforgettable. selling digital currency online is not the same as selling it on a real machine. That was a powerful moment for me because it was the first time I turned bitcoin into real money. As I dug deeper, the excitement wore off, revealing huge fees and bad exchange rates. Once I was done with the math, I moved to P2P transactions. P2P gave me more power over my money without the high fees that Bitcoin ATMs charge. Life is like business in that you have to find better ways to deal with problems.

I don't know if Bitcoin is legal in your country If Bitcoin is not legal in your country then you will never be able to enjoy using Bitcoin ATM machine. I also had such a wish that I would enjoy using bitcoin ATM machine but unfortunately it is illegal in our country for which free bitcoin transaction is completely prohibited here. But a lot of bitcoin transactions are done secretly in our country.We still dream that Bitcoin will be legal in our country and that we will one day use Bitcoin ATM machines. ;)

He would be happy if he could actually enjoy the convenience of using a Bitcoin ATM machine. But many have already proven that the OP made a false post.

It's so sad that the O.P of this thread just violated one of the serious forums rules (i.e image plagiarism), of which even when caught still insist he is the one in the image above, hence, I think it's high time the moderators look into this matter, as with my many years of being here, I never knew bitcointalk to be a place where people come and post fabricated false stories, just as O.P did, hence, the earlier we take prompt action regarding this issue, the better for us.



There were a few Bitcoin A.T.M in Nigeria, most especially in Lagos City before the CBN crypto/bank banned of 2021,  hence, I think some of these Bitcoin A.t.M could either partially be functioning or not, but a few of them can be found in this locations below according to Coinatmradar.com
https://www.talkimg.com/images/2024/02/18/YGCQq.jpeg  https://www.talkimg.com/images/2024/02/18/YGZeP.jpeg

Even if I can't use Bitcoin ATM Machine I'd be happy if I could see it. But is it possible to get this machine everywhere? I don't know at the moment how many machines there are worldwide and where they are but if I ever see this machine in my local area I will definitely support it as a Bitcoin enthusiast. I also like others, would like to know how the Bitcoin ATM transactions are processed and what about the fees. Since this is an expensive machine I think the transaction fee may be high as well. Since Bitcoin is not yet officially accepted in most countries of the world, the use of these machines will not yet be available.

There's no such image plagiarism in this forum, almost everyone already get banned if the forum has no zero tolerance with using someone image without put the original source. Even though you won't get banned, but if you broke the copyright laws, you could get a punishment.

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You can check it here https://coinatmradar.com/

It like Grab or Gojek, but for crypto. Fees can range from 5% to 20%, depending on the ATM, location, and who owns the thing. Basically, every ATM owner sets their own price, kinda like how different restaurants charge different prices for the same dish. Beside, some ATMs charge a percentage of your transaction, some have a flat fee, and some party animals charge both! Be sure to check before you buy or sell.

Another problem is minimum purchase. You can't buy a single satoshi. Most ATMs have minimum transactions of $20-$50, so forget about using your loose change.

The moment I saw the story I knew it it's going to be fake!

I mean seriously, who goes to an ATM, uses it and tells not a thing about how he bought if he was required an ID, how much the fees were, stuff like that.
Imagine I open a topic about taking a Ferrari to the track and I don't post one valid photo or one impression how that car drives but I keep blabbing how beautiful the car is!  ;D

That being said, is that ATM still active?
https://naijacrypto.com/ (the operator) is giving a 522 so it might be the cherry on the cake to hear that ATM isn't there anymore!


50 in Nigeria?
It's common to find 10E minimum ATM in Europe or $10 in the US and ATMs in Nigeria demand 5 times that with wages being 1/10 of it?

So, does the op mean that they tried a Bitcoin ATM for the first time? There are many questions in the op's post, but not much about impression. What was the fee, how long did the whole experience take, was there an ID check of any sort, was there a minimum/maximum limit? In things like this, the details show that a story is true, and they are actually interesting to hear. As others have shown and pointed out, the story looks fake.
I've never used a Bitcoin ATM. I think there are a couple in my city, but I just generally don't like ATMs, even the regular ones. I always feel awkward and a bit unsafe using them because everyone around knows I'm dealing with money right there and right now. I feel more comfortable with online exchanges because I can take my time and do everything comfortably from home this way.

To be fair, Bitcoin ATMs have very high fees. Probably only Bitcoin enthusiasts will sometimes use ATMs, those who want to just test it for the sake of Bitcoin. It's not for regular users because there is a huge difference between preev.com's rate and ATMs rate. Btw can you share the rates with us? Also, as far as I know, Bitcoin ATMs can ask you for ID verification.

Many Bitcoin ATM providers probably depend on Bitcoin enthusiasts and want to make money from them because their fees are very high. They are doing bad for Bitcoin adoption, my friend had an ATM in his restaurant and almost no one was buying or selling coins because fees were up to 16%.

There is no bitcoin ATM in my country. When someone tried to set it up, he was arrested as he took no approvals for this

https://timesofindia.indiatimes.com/city/bengaluru/1st-bitcoin-atm-in-bengaluru-seized-co-founder-held/articleshow/66340493.cms

So , the owner of one of the first crypto exchanges in my country was arrested for opening crypto ATM. You can imagine the overall situation related to crypto then.