Trying the new Bitcoin ATM near my house

[carlisle1]

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

I really want to try a bitcoin ATM here in my country but not same with you the location of the machine is far from the location where I am residing which will probably took an hour before getting there lol i am very curious how does it work and how to use it I really wish that there will be a bitcoin ATM that just a few kilometers away from my home and not a luxurious place

[aardvark15]

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

That seems like a high price to pay. I guess you pay for convenience, but I don't think it would be worth it to me. Do you know if anyone actually uses it?

[MrBitco.in]

The option he did not cover was the ATM fees or did I miss that part? Most of these damn ATM's add a lot of fees to the transactions and it leaves

you out of pocket with a lot of money. They should have a pop-up showing what the cost of the transaction should be to give you a choice if you

want to proceed or not. I have to say the confirmation on those transactions was pretty fast.

This model ATM does not add extra fees, these are usually calculated in the rate. operators have their own rates, depending on costs of location, cash handling, exchanges used as liquidity providers, staff costs, etc. Normally ATM costs are absorbed by a bank but with Bitcoin you are your own bank so these costs are there. Speed of transaction can be fast, even in today's market if you add enough transaction fees, this is also one of the costs the operators pay so it explains the higher price people pay when using an ATM.

[xcajun21]

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

It is always more expensive to sell/buy BTC on ATM,than on some exchanges.There is posted here some list of products you can buy for BTC and there is ATM for some 9+BTC,and if I remember exactly they say time to return investment is around 3 months.

It is nice to have ATM to buy BTC or exchange for fiat,but for now it is much expensive then exchanges,but in any case much easier and simpler.

I think that using bitcoin ATM is pretty much stupid right now, i cannot see why anyone who has a lot of money invested in btc would use something like that because of the big difference in value.

After all, if you have bank account then it is not useful nor comfortable because you need to go somewhere if you want to convert crypto into fiat cureemcy, and online exchange is much easier and faster in my opinion.

If bitcoin ATMs are totally anynomous (which i doubt is true) then they might be used for that purpose usually, however i dont see point im using it when the value of owned btc is lower because of atm maintenance etc

That's interesting read. Would be great to trade directly into the back account and get directly to your nearest atm. Same deal right. Get rid of your bank rules and everything though.

[abel1337]

Ive personally tried bitcoin atm , It is quite good in buying dome bitcoins in bitcoin atm. It only took me 5 mins in order to finish my transactions. The disadvantage I see is the fee , it is quite large for me as a buyer. Ive never tried converting my bitcoin into local currency with atm machine for some reasons.

[Dr.Osh]

Ive personally tried bitcoin atm , It is quite good in buying dome bitcoins in bitcoin atm. It only took me 5 mins in order to finish my transactions. The disadvantage I see is the fee , it is quite large for me as a buyer. Ive never tried converting my bitcoin into local currency with atm machine for some reasons.

I really wanted to try it here, but, my country does not have such a technology. well, that is a very good technology, and very practical for users bitcoin. you can redeem, or buy bitcoin at a particular place without waiting for a very long time. Well, I guess it is the hope of every person using bitcoin.

[Wipro]

Ive personally tried bitcoin atm , It is quite good in buying dome bitcoins in bitcoin atm. It only took me 5 mins in order to finish my transactions. The disadvantage I see is the fee , it is quite large for me as a buyer. Ive never tried converting my bitcoin into local currency with atm machine for some reasons.

its quite good to hear your able to use bitcoin atm,i guess in your country bitcoin ATMs available,but unfortunately in my country bitcoin ATMs are not available.optionaly we can buy bitcoin debut cards and able to use in normal ATMs in any country

[xcajun21]

Ive personally tried bitcoin atm , It is quite good in buying dome bitcoins in bitcoin atm. It only took me 5 mins in order to finish my transactions. The disadvantage I see is the fee , it is quite large for me as a buyer. Ive never tried converting my bitcoin into local currency with atm machine for some reasons.

its quite good to hear your able to use bitcoin atm,i guess in your country bitcoin ATMs available,but unfortunately in my country bitcoin ATMs are not available.optionaly we can buy bitcoin debut cards and able to use in normal ATMs in any country

What country? Here in East Europe we can buy bitcoin at supermarkets, hospitals etc, where you have other options as buying WOT credits or pay the bills.

[President79]

It looks like it was a great experience, when we can take money from the conversion of the bitcoin, so when the high price of course I'm going to take a lot. hope there are also bitcoin ATM also available at my city.

[Ayiranorea]

It looks like it was a great experience, when we can take money from the conversion of the bitcoin, so when the high price of course I'm going to take a lot. hope there are also bitcoin ATM also available at my city.

Than bitcoin ATM you can get all the services better with reduced fee from your locality through the exchanges. Compared to the past collectively the number of ATM's all around have decreased a lot due to the maintainance and​the increased withdrawal fee.

[bajing]

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

Wow nice, many bitcoin users who live in asia can try to out their money through atm because we know the fee transaction from bitcoin atm a bit less than exchanger.

[Harlot]

This is just to add another option on how people can obtain Bitcoin. But obviously BITCOIN atms are a business so expect the exchange rates to be below on what you pay for ( 20 CAD TO .01099 BTC). Also if you are selling your Bitcoin for Fiat it would do the same, the machine will give you an higher Bitcoin amount to convert it as seen on the video you have posted (.01277704 BTC to 20 Cad). But of course it is no different in your on board options of how you can convert/add your Bitcoin in your Bitcoin Wallet. But the good thing is with Bitcoin ATM machines it can add a lot of curiosity to mall goers on what it is, therefore making its presence more known to the majority of the people. 

[vasrasus]

This is just to add another option on how people can obtain Bitcoin. But obviously BITCOIN atms are a business so expect the exchange rates to be below on what you pay for ( 20 CAD TO .01099 BTC). Also if you are selling your Bitcoin for Fiat it would do the same, the machine will give you an higher Bitcoin amount to convert it as seen on the video you have posted (.01277704 BTC to 20 Cad). But of course it is no different in your on board options of how you can convert/add your Bitcoin in your Bitcoin Wallet. But the good thing is with Bitcoin ATM machines it can add a lot of curiosity to mall goers on what it is, therefore making its presence more known to the majority of the people. 

Having that ATM machine will definitely attracts people and will be curious on how it can obtain. We bitcoin users can make our transactions easier and instantly, though there were a easy way to cash out btc now in our country thru the help of security banks and coins.ph that makes cashing out conventiently. Having BTC atm will really be a big help.

[Kyraishi]

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

Great video.

And you're lucky to have one near you because, honestly other countries all the bitcoin ATMs are located in the city if there is any at all
It's basically destroys the whole point of having a bitcoin ATM to provide nice and easy transactions in the first place.

Without identification required too... That's just awesome.

Your videos are great, I have subscribed.
I like the way you present your information, you actually carry out the thing on video, instead of one just presenting it on a slideshow.
Keep it up.

[danherbias07]

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

That seems like a high price to pay. I guess you pay for convenience, but I don't think it would be worth it to me. Do you know if anyone actually uses it?

It will be used for many will want to test it and want to experience it even with huge transaction fees.
This works for countries without options to withdraw or deposit. But to others that have their website wallets connected to a bank it will not be used much. One example is here in Philippines in which we use coins.ph that is connected to a Security Bank company where we could withdraw easily without a price to pay.
The only problem is they got a lower price when you exchange bitcoin to php. That is where they get their profits.

[pearlmen]

Sometimes, I really find it difficult to understand the basis of this bitcoin ATM or how they are intending to encourage users of such facilities maybe they have beclouded by the idea of desperation in the case of fiat where you can just go ahead and get it no matter the fee. Every issue of ATM I have seen, you buy at extremely high price even thinking that one has no option than to buy and for those intending to sell, the ATM buys at low price compared to what is obtainable in the market. If its in my country, I will just pass.

[hello_good_sir]

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

Honestly we should have more of you, sir Ben Perrin!

Just really awesome to see someone who doesn't talk about all the code that is behind bitcoin.

I think that the Bitcoin ATM is cool, but not really that great for someone that lives in a rural area and doesn't have access to a bitcoin ATM straightaway as they would have to drive hours to get to that ATM anyways.

And most countries doesn't even have a bitcoin ATM.

But you're lucky that you do, so enjoy that priviledge 

And keep up your videos! They are amazing.

[(altair)]

Good to see that there is already one bitcoin atm machine at your place,hope that will reach here in philippines too.But one thing i only notice on that machine which make me think more why rates at buying bitcoins are so high? and rates at selling bitcoins are too low?I know how trade market goes but this one makes huge difference on buy and sell price compared to markets online

[Sadlife]

Where is that exactly?
How does it work, can you withdraw your bitcoin funds from that ATM machine or you just have to buy bitcoin using that machine.
Sorry for the noob question.

I hope other countries start to recognize and adopt bitcoin.

[tomotan]

There is also a btc atm machine in basel\swiss !
Went there a couple of weeks ago to pay out some of my bitcoins...works just fine!