Why arnt we seeing more bitcoin ATM popping up?

[GreenBits]

That's another thing. These things are quasi legal in a great deal of states, and, living in NC, my closest options are a few in Durham, NC, or taking a trip to Georgia (we frequent there for family, it tends to work out when I truly need one). The point is, unless you live in an amazing area, even having access to a bitcoin atm is a rare luxury. Instead of a dedicated device, maybe this is functionality that should be included at existing atm terminals.

And the fees Diego, the fees.

[bitkilo]

There aren't more Bitcoin ATM's being built because they are very expensive to make and not many people would use them. In Sydney, Australia, there are only 3 Bitcoin ATM's. Like WTF.

We don't need to build anymore bitcoin ATM's when there are dozens sitting in a warehouse gathering dust that nobody can find a place for, and guess what they are in Sydney!
Lamassu brand, if you have a spot PM me.

[solid12345]

Bitcoin ATMs always seemed like an oxymoron to me, it's a digital currency you can use on your phone, your phone IS an ATM practically.

[bitkilo]

Bitcoin ATMs always seemed like an oxymoron to me, it's a digital currency you can use on your phone, your phone IS an ATM practically.

Yes but if you want to stick with the anonymous properties of bitcoin you cant exactly insert a few bills into your smart phone and receive bitcoins.
Some bitcoin atm's still let you purchase your coins without going through the id scan, palm print and whatever else the robocoin machines what you to do.

There is a need for these machines i believe but not as big as i once thought,  best used for beginners to get their 1st coins and also people who want some coins asap because maybe they predict a price spike or other reasons for urgent coins.

[DimensionZ]

Bitcoin ATMs always seemed like an oxymoron to me, it's a digital currency you can use on your phone, your phone IS an ATM practically.

But an ATM machine turns your digital currency to paper money and vice versa. I don't know what phone you are using but I can't just print banknotes off my phone or feed it banknotes and receive Bitcoins on the other end  Credit cards and PayPal and Neteller etc. are digital currencies too but people use them to withdraw cash when in need so there is a demand for that. By the way the balance on your bank account is just numbers in digital format, they don't keep paper bills ready for you in a box somewhere equivalent to your funds.

[Druze]

there are huge fees and some places may not have enough demand for a bitcoin atm that it might not be profitable

[Qunenin]

Bitcoin ATMs always seemed like an oxymoron to me, it's a digital currency you can use on your phone, your phone IS an ATM practically.

Most of people spent bitcoins online, so there is less scope for ATM for physical cash. Also the Bitcoin ATM will have to first convert the currency in local and then give hard cash to the person. Conversion to local currency and conversations as which rate is also a factor for ATM not a suitable thing for bitcoin at the present moment.

[Evildrum]

You just presume we are all working off the same type of regulations when it comes to these BTMs.
Its pretty clear that some countries allow people to be extroted and ripped off through them.

The fun part for me is where these bitcoin machines end up being set up. Yet another one opened up in a restaurant.
Kind of a odd place to set up,especially due to the location drawing in mostly asian folks for dinner.

[Snorek]

When I use traditional ATM I know more or less what to expect. I know that I can withdraw my money from my bank account and it is pretty straightforward process.

On the other hand with Bitcoin ATM it is a lottery and you are never sure, I keep asking myself:

What can I do with machine like this? Can I buy BTC from it for FIAT, or can I load it with my BTC and then withdraw FIAT?
What kind of fees I have to pay? Do I need some kind of ID to use it?

All these thoughts have successfully discouraged me from using a Bitcoin ATM.

[Cryptonitex]

I kinda agree, ATM's are kinda no point.
Buy from an exchange, or from localbitcoins.com

[yenxz]

Yes i'm agree,bitcoin ATM have no work ptogress and seems not have any user,in my country there onyl 2 ATM and its rare to usrd,night people more like to make online transaction.

[michietn94]

My goverment still forbid bitcoin usage so it mean that my goverment still not support bitcoin yet.
For some reason like money laundry , terorrist fund transfer , etc  , they forbid bitcoin usage.

Hope bitcoin ATM will be popping up at my place on the future when my goverment realize bitcoin in positive way

[Monnt]

Theres only one bitcoin atm I know of in my state in Australia, and that's about a 45 minute drive from my home. So it would be cool if we could see more, but there really isnt much of a demand for bitcoin. Bitcoin users may be using bitcoin more, but not many new people are coming over.

[bSpend]

First Bitcoin ATM in Vietnam https://www.reddit.com/r/Bitcoin/comments/4mmlpq/travelers_in_vietnam_can_now_use_a_bitcoin_atm_in/

[daringdiscovered]

I was thinking the same thing, once I heard about them being installed in a few places I imagined a time when a lot of cities would have a bitcoin ATM.  But as we know, bitcoin has not taken off as quickly as a lot of people know about it. There are also other ways available to the public to buy and sell their bitcoin.

[marcuslong]

I really thought this time last year that we would have a lot more
bitcoin ATM machines. There is so many people on localbitcoin especailly
in certain areas. I just really thought I would see more in heavily populated
areas. Why do you guys think there isn't many out there still? I know the one
I saw in California had ridiculous fee's but I think people still used it a lot.

Bro because few people only use in bitcoin ATM Machines so dont expect that many bitcoin machines will pop up. And the first thing that i know why few only ATM machines pop up because few only know what is bitcoin and few people use it. And others didnt use it. Why? Because there are many company that allow few people to convert their money there so they can cashout in any ATM Machine thats only the reason that i knew.

[robelneo]

I really thought this time last year that we would have a lot more
bitcoin ATM machines. There is so many people on localbitcoin especailly
in certain areas. I just really thought I would see more in heavily populated
areas. Why do you guys think there isn't many out there still? I know the one
I saw in California had ridiculous fee's but I think people still used it a lot.

This thread was created a year ago but still there are not much atm today but after the halving and bitcoin stabilize we'll hope to see more,here in our country cashing out my bitcoin is not really that hard we many exchanges here

[Denker]

I really thought this time last year that we would have a lot more
bitcoin ATM machines. There is so many people on localbitcoin especailly
in certain areas. I just really thought I would see more in heavily populated
areas. Why do you guys think there isn't many out there still? I know the one
I saw in California had ridiculous fee's but I think people still used it a lot.

This thread was created a year ago but still there are not much atm today but after the halving and bitcoin stabilize we'll hope to see more,here in our country cashing out my bitcoin is not really that hard we many exchanges here

At least the number of BTMs is growing continuously!
Right now the number is ~670 and heading to 700 within the next 30 days if you take the average of 1,3 BTMs getting installed per day regarding coinatmradar.

[coinzat]

I do not see any point in bitcoin ATMs because their rates are always high because they charge their customers the electricity and place costs.

[zimmah]

They are expensive + people dont buy BTC from them because it is exansive It is cheaper to buy them at Bitcoin exchange places.

as far as i'm aware a lot of people use them for convenience.

especially if you need small amounts, ATMs are saver and easier than going to an exchange or using localbitcoins.