Trying the new Bitcoin ATM near my house

[staceyoh]

Awesome!I wish there is also a
bitcoin ATM near our house.

[pinkpanther03]

There's a new Bitcoin ATM in the mall down the block from me, so I went over and checked it out.

https://www.youtube.com/watch?v=xajKjxxRL04

According to my friend having a bitcoin atm was a good a advantage especially if you have a friend it will be a great advantage for us to show them that we have bitcoin balance and through bitcoin atm we can convert and withdraw it according to our currency the amount of bitcoin we are going to get it.

[iram3130]

I wish I could try one too but there is no Bitcoin ATM yet near our vicinity. I think it will be good if more of this will be available for us so we are not dependent on localbitcoins or just a few bitcoin exchanges.

For all those who are complaining or wishing for a Bitcoin ATM in their City or locality, just read the posts of those who have used it.
The exchange rates are ridiculously high and on that there will be transaction fees, it's better if you use an exchange and get the money to your bank which you can cash out anytime.

I mean.... I don't care about the rates at all, of course that need to be fixed, but I still like the concept of it.

Everyone, well more than 90% of the Bitcoin universe loved that concept but the thing is that it is not yet a feasible idea for everyone.
It's only good if you are rich and won't bother for paying fees. Small traders or gamblers will not be able to pay that much fees with that exchange rates.

[Golftech]

There's a new Bitcoin ATM in the mall down the block from me, so I went over and checked it out.

https://www.youtube.com/watch?v=xajKjxxRL04

According to my friend having a bitcoin atm was a good a advantage especially if you have a friend it will be a great advantage for us to show them that we have bitcoin balance and through bitcoin atm we can convert and withdraw it according to our currency the amount of bitcoin we are going to get it.

it will attract attentions and curiosity coming from people who doesn't have idea regarding to bitcoin will be concern about this type of system
for the long run it will help the popularity of btc like what you have said its a easy way to check and withdraw your btc balance and we can easily
show it to our friends too.

[Schuyler]

There's a new Bitcoin ATM in the mall down the block from me, so I went over and checked it out.

https://www.youtube.com/watch?v=xajKjxxRL04

According to my friend having a bitcoin atm was a good a advantage especially if you have a friend it will be a great advantage for us to show them that we have bitcoin balance and through bitcoin atm we can convert and withdraw it according to our currency the amount of bitcoin we are going to get it.

it will attract attentions and curiosity coming from people who doesn't have idea regarding to bitcoin will be concern about this type of system
for the long run it will help the popularity of btc like what you have said its a easy way to check and withdraw your btc balance and we can easily
show it to our friends too.

But there has got to be more visibility of these machines. Case in point, in my country there are only two of them that are actively working, but they are only located in two business districts (which are still far from where I work and live). Would love to see more of those so that it is easier to access it and for people to be able to get more acquainted with such machines.

[Pearls Before Swine]

I also wish that there would be an ATM in my country as with ATM we can use our bitcoin very easily in our country we can spend our bitcoin even in those places where there will not be any connection to our phone so we will go to ATM and will withdraw our money for our needs.

Such sig spam.  This forum is truly fucked up.  OP doesn't even care to write anything more for those of us who couldn't care less about watching a YouTube video.   The only people who seem willing to write are those who have nothing coherent or constructive to say, and this is sad indeed.

Would love to use a bitcoin atm, but alas there are none to be found anywhere near me.  Perhaps someday. 

[KuromaYoichi]

It's a nice video, i've never seen a bitcoin atm as there's only a few in my country and it's located very far away from my place. And the rate difference quite significant. And how long you have to wait for the confirmation to sell bitcoin there?

[Lonthe]

It's a nice video, i've never seen a bitcoin atm as there's only a few in my country and it's located very far away from my place. And the rate difference quite significant. And how long you have to wait for the confirmation to sell bitcoin there?

Yes good, it's a great experience, I hope ATM bitcoin is also present in my city. want to know, whether it is provided with a wallet?

[Amph]

Gosh... the rate is extremely high at CAD$1820 per BTC (CAD$20 for 0.01099BTC). Current rate is only around CAD$1520!

probably it's done to cover the machien maintanance, basically you are actually paying a fee to use that ATM, nothing is free in this world

at least it's nice that it doens't require your ID scan or something like that, but i'm afraid they can track you better with ATM, that's one of the reason why they are building those

[positivezero]

There's a new Bitcoin ATM in the mall down the block from me, so I went over and checked it out.

https://www.youtube.com/watch?v=xajKjxxRL04

That information sounds good. How i wish to have like that, i mean bitcoin ATM near my house. Im just wondering, i think it wont happen here in my country since they dont actually accept bitcoin and even here in my place, i think im the only one know and used bitcoin  so theres no chance to have like what you have now

[numismatist]

Looks like the usual, which will not cut it.

Extortionist rates of course, than looking further you see the more complex technology capable of recognizing paper bills. But only slurping them in.
Why can't any ATM pay out money for heaven's sake? So Bitcoin keeps looking like some one way street, seriously?

These sorts of ATMs do more harm than any good.

[AjithBtc]

That's good to see such a visual of withdrawal from bitcoin ATM. Bitcoin ATM's were making big earning because they have increased fee compared to exchange websites. Also these days bitcoin ATM have decreased a lot than the past days.

[mastermold]

Bitcoin ATMs are a tremendous way for newcomers to be exposed to Bitcoin, and easily experiment with it without the pre-requisite of setting up an online trading account. More and more bitcoin ATMs should get open all over the world so that the more and more people get to know about it and get involved. I

[Xester]

Awesome!I wish there is also a
bitcoin ATM near our house.

I also dream of having a bitcoin atm near my house so I will not make transactions with the banks or the courrier and wait for 7 to 24 hours before my cash gets into my bank account or at my pocket. But if there are bitcoin atm near my house then I can instantly  convert my bitcoin into cash and I can also easily buy bitcoins using the bitcoin atm machine. If there was an atm near my house buying and converting bitcoin to cash is very fast.

[zeaderza]

There's a new Bitcoin ATM in the mall down the block from me, so I went over and checked it out.

https://www.youtube.com/watch?v=xajKjxxRL04

Just be careful about ATMs that aren't at a bank branch. I have read a lot of articles about people using pen cameras to steal peoples pins. I would think one in a mall would be safe but you never know so be careful. That is awesome that they made that available though! I need someone to put one near where I live!

[xcajun21]

Bitcoin ATM's are cool to show off to friends, but they aren't worth using at all.  Here's why:

For one, you need to scan your government ID and all of your information. This kind of defeats the purpose of anonymity with Bitcoin. Secondly, the transaction fee's are too high for the convenience. It is just as easy, if not easier (and cheaper) to buy Bitcoin from a smartphone than an ATM.

How is high for convenience if is right in a mall and it gives you instant access to your deposit? Cash means access and the liberty to have them.

[ivanst776]

There's a new Bitcoin ATM in the mall down the block from me, so I went over and checked it out.

https://www.youtube.com/watch?v=xajKjxxRL04

That's perfect, the explanation is just perfect for everyone even for those that don't know much about bitcoin.

One thing that could irritate people is the waiting time, for this tutorial it took you 5 minutes but in reality it takes more to sell bitcoin but shorter to buy bitcoin.

What kind of verification are needed for the second and third option? Why it didn't require phone number when you wanted to buy bitcoin worth 20 CAD?

P.S let us know where and how much have you purchased the sunglasses , I'm gonna buy something similar hehe.

No clue about the verification system, but from what I've seen the ATM asked for his phone number in order to let him know through a message when he could have taken the $, since the process requires time. In the other case, there was no reason to insert his phone number as the transaction had been instantly sent to his wallet.

I think that if we send a bitcoin transaction then the ATM estimates if the fees are enough or it waits for the first confirmation.

But what are the next "level" of verification in order to sell or buy higher amount of bitcoins, if they require something like ID verification then I dont know how can they verify it or the process will take too long.

[densuj]

There's a new Bitcoin ATM in the mall down the block from me, so I went over and checked it out.

https://www.youtube.com/watch?v=xajKjxxRL04

That is good video you are lucky man, unfortunately not all of cities in every countries
there are bitcoin ATM machine avaliable because moshtly countries there are not bitcoin ATM machine,
 bitcoin ATM machine is still be considered bad business because bitcoin is something new
 and not all of people know about bitcoin and use bitcoin in real life for payment method.

[LoyceV]

https://www.youtube.com/watch?v=xajKjxxRL04

Very nice video!

Does this mean you can buy/sell up to 3000 CAD without any identification? Are KYC/AML-regulations that loose in Canada?

It seems a bit weird to walk around with your receipt, waiting for your Bitcoins to be confirmed before you can pick up your cash. If someone manages to take a picture of your receipt, he can claim it and walk away with your money.
It may also be possible to find the transaction for the amount shown on the screen in a Block Explorer. The observer can then recreate the QR-code, and walk away with your money.

I see many people in this thread complain about the fee, but it's not that bad at all: 20 CAD gets you 10.99 mBTC, and 12.77704 mBTC gets you back your 20 CAD. You've lost just under 2 CAD on this transaction, less than 5% one way.
I can imagine fees go down when enough people use Bitcoin ATMs. Now the machine has to be paid back by not too many customers. If customers would line up, competing machines could compete on fees.

[carlfebz2]

There's a new Bitcoin ATM in the mall down the block from me, so I went over and checked it out.

https://www.youtube.com/watch?v=xajKjxxRL04

Just be careful about ATMs that aren't at a bank branch. I have read a lot of articles about people using pen cameras to steal peoples pins. I would think one in a mall would be safe but you never know so be careful. That is awesome that they made that available though! I need someone to put one near where I live!

Oh i didnt expect that this thing does still happen on Bitcoin ATM i thought its just only on Local Fiat ATM and im sure one of those hackers/scammers/thiefs are bitcoin lovers too. We should really be careful on this matter and thanks mate for reminding or giving us caution related to this matter.