Why arnt we seeing more bitcoin ATM popping up?

[DimensionZ]

The demand for Bitcoin ATM's is low probably due to the unreasonably high fees that operators of these machines tend to deliberately set up in order to price gouge their customers. I have seen Bitcoin ATM's only in the touristy areas in my country and in some of the bigger shopping malls. I don't see a reason to use them because I can get better rates and lower fees on the exchanges though. But I do admit that Bitcoin ATM's offer fast transactions when you need cash or coins urgently.

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[BitHodler]

The demand for Bitcoin ATM's is low probably due to the unreasonably high fees that operators of these machines tend to deliberately set up in order to price gouge their customers. I have seen Bitcoin ATM's only in the touristy areas in my country and in some of the bigger shopping malls. I don't see a reason to use them because I can get better rates and lower fees on the exchanges though. But I do admit that Bitcoin ATM's offer fast transactions when you need cash or coins urgently.

Not only high fees are the problem but the demand for these Bitcoin related ATM's simply isn't there.

I once heard some on in this forum say : You can bring a horse to a water pool, but you can't force it to drink.

If there isn't any demand you can place as many ATM's as you want, but people will not use them.

[coinpr0n]

There's many more easy options when buying bitcoins today than there was when ATMs were first coming out. US and European have options to buy BTC with credit card like Coinbase and other services allow for bank withdrawals like Bit2Me.

[Icathia]

Bitcoin needs to become far more popular in order to place more ATM's around the world. There are some countries that have Bitcoin ATM's but there still countries left where the people do not even know what Bitcoins are.

[alyssa85]

You only need bitcoin ATMs in places where it is impossible to transfer fiat to an exchange to buy bitcoin. If you can deal with an exchange, it's way cheaper (and more convenient - you can buy from the comfort of your sofa).

[romero121]

Only limited cities or localities have a large number of users, remaining were spread across various regions. For this reason ATM's will never be profitable for the company which implements it. Later we can see bitcoin ATM often.

[mtnsaa]

I think it's pretty clear by now that BTC is not a payment system (and never will) but there are still many people trying to push this agenda god knows why. As a speculation and investor tool, commodity or storage of wealth, well that we can all agree it has certainly proven it's worth so far.

[lastuser]

The rate of Bitcoin adoption is still extremely low. Most Bitcoiners would avoid going to Bitcoin ATM and use online exchange instead due to the lower fees. Bitcoin ATM operators also have to get through various regulatory measures.

[sana54210]

The demand for Bitcoin ATM's is low probably due to the unreasonably high fees that operators of these machines tend to deliberately set up in order to price gouge their customers. I have seen Bitcoin ATM's only in the touristy areas in my country and in some of the bigger shopping malls. I don't see a reason to use them because I can get better rates and lower fees on the exchanges though. But I do admit that Bitcoin ATM's offer fast transactions when you need cash or coins urgently.

Not only high fees are the problem but the demand for these Bitcoin related ATM's simply isn't there.

I once heard some on in this forum say : You can bring a horse to a water pool, but you can't force it to drink.

If there isn't any demand you can place as many ATM's as you want, but people will not use them.

The number of bitcoin users aren't nearly high enough to demand a global adoption of ATM's. Although there already is a company from China that has been placing several ATM's around their country.

[Wendigo]

I don't think there are any regulatory measures for running a Bitcoin ATM. You can install one in your front yard near the sidewalk or you can rent a small place on a busy street and put it in there and set up whatever fees you want completely legally at the moment. If Bitcoin is not banned or regulated in your country the government can't fine you or tax you for running a Bitcoin ATM. But the problem is that people tend to use Localbitcoins and exchanges more than ATM's so the demand is kinda low right now and the ATM operators may not be making any profit whatsoever.

[RodeoX]

I looked into buying a some of these here in the U.S. and found a problem I could not get around. The problem of becoming a money transmitter. The bank laws were sewn up long ago to keep the "little man" out of the banking profits. They did this by requiring a special license for each state and those can cost as much as $25 million USD  ! Even if I bought a lot of them I would likely never be profitable. 

[OROBTC]

I looked into buying a some of these here in the U.S. and found a problem I could not get around. The problem of becoming a money transmitter. The bank laws were sewn up long ago to keep the "little man" out of the banking profits. They did this by requiring a special license for each state and those can cost as much as $25 million USD  ! Even if I bought a lot of them I would likely never be profitable. 

That's my understanding as well.  Here in my (US) state, a license is needed to "transmit money".  And it is hard to get, and (probably) with lots of onerous rules (including knowing who is buying BTC).

The few machines in my city run from 9% - 14% premiums vs. "spot" BTC price.  I would guess that those high premiums reflect all the hoops the owners have to jump through as well as the costs of maintaining the machines and paying rent.

[Qunenin]

As bitcoins become popular, so is the ATM bitcoins will come for the benefit of the bitcoin holders

[btccashacc]

You know what, using Bitcoin ATM is actually pretty expensive, i personally purchase bitcoin from our local exchanger or bought from my friends thus, i'm not surprised if there aren't many because the fees are too expensive,it's better to buy from exchanger directly

[pureclckr]

Bitcoins dont need ATM. They alreay have Wallets to do transcations

[Wendigo]

Bitcoins dont need ATM. They alreay have Wallets to do transcations

Mate I don't think this is completely true. It's like saying people don't need ATM's because we have banks and credit cards. Well sometimes you may be in urgent need of cash and you can't use your bank account or credit card to do a transaction and you need to withdraw paper money instead. I have been in such situations before and it's not a great experience  Plus Bitcoin wallets only transfer coins back and forth between users but you can't exchange it to fiat through a wallet. I think when Bitcoin becomes more mainstream and people tend to use it more Bitcoin ATM's will become an important part of the Bitcoin economy.

[PsursV]

i think it will take some time for bitcoin to be use as flat currency and we will do transaction using ATM. 

[HarryKPeters]

i think it will take some time for bitcoin to be use as flat currency and we will do transaction using ATM. 

Yeah, and don't forget that the cost of an ATM is quite large. Before an owner can earn on fees at least a year has been passed. Which makes it hard to gt Roi, since an ATM needs maintenance too. So the cost are also rising over time.

[GreenBits]

Bitcoin atms aren't that useful because there are too many other faster, easier and arguably safer ways to buy and sell btc. Any verified account on most services can purchase btc in a few clicks. No riding around with cash. No flimsy paper wallets on receipt paper to crease in your wallet. And most importantly, no 7% fee on buying and selling, if you haven't used one yet, they are expensive!

[Jasad]

Honestly, I haven't seen any BTC machine in my country, much less had the need to use it. Maintenance would surely be an issue because of the operating costs associated with it. If it ain't a necessity and people are not looking for it, why bother having one?

where do you life?i have same situation here,i know in my country have some bitcoin ATM,and its sound great when i first time know about it,but until now i dont see people talk about bitcoin AM,and look like not enthusias with this,yes might the problem is cost on maintance and distance.