Bitcoin ATM locations on a rapid increase...

[orions.belt19]

BTMs are a scam. The prices they want per Bitcoin is way above the real market price. It would be better to wire transfer money to an exchange that will cost $10 at most.

Why move Bitcoin backwards by making ATMs? Mobile wallets and NFC technology should be the new norm.

Just understand that Bitcoin ATMs aren't put up to help people buy and sell bitcoins. They put them up to make profit, as most businesses do. I still agree though, the fees are abysmal. They should atleast lower them to a reasonable fee percentage. I think their main target audience are the people who are new to bitcoin, and if alot of bitcoin ATMs are being opened, it looks like their strategy is working.

Where are these bitcoin ATMs showing up anyway? In the United States I assume? Not a single bitcoin ATM on my country as of now.

I wanted to ask the same, where exactly are these bitcoin ATMs sprouting up? Because where I'm from, there's not a single bitcoin ATM in my country as of now so I'm not sure how it works and how high the fees are.

I initially thought that Bitcoin ATMs would be convenient for the Bitcoin users, and would serve as a handy exchange. I didn't think that it would be a scam and I instead thought that it would function like the ATMs of a bank, providing convenience to the bank account holders. However if the fees too high, then that is unfortunate.

[piloder]

Noticed that in the past 3 months, bitcoin ATM locations have increased by 15%. For the past 3 years, it has increased 23-fold.

But there is none of them in my location so I am currently depending upon usual visa ATMs from local banks and bitcoin debit card provider to cashout my bitcoins. I am losing so much with this and would love to see one of these bitcoin ATM's in our country too.

[Kakmakr]

Bitcoin ATM's is good for convenience, but a tad too expensive in my country. People tend to avoid them, because they have too high fees. Our local bar has a Bitcoin ATM, and people use it for emergencies <when the drinks budget is depleted> They tend to use it more when they are drunk, because they worry less about high fees, when they are thirsty and a little drunk.

I make sure my "drinks" wallet is stuffed, before I go to the bar for a few drinks with my friends. Yes, I have a "drink" wallet ^smile^  

[Sithara007]

There are no ATMs in my country, but I don't understand the need to go to an ATM, when you can easily purchase Bitcoins from LocalBitcoins.com for just 2% or 3% markup. I have heard that the ATMs are having markup of 6% to 8%.

[mk4]

There are no ATMs in my country, but I don't understand the need to go to an ATM, when you can easily purchase Bitcoins from LocalBitcoins.com for just 2% or 3% markup. I have heard that the ATMs are having markup of 6% to 8%.

It's debatable and purely based on opinion, but like others said, ATMs are good for convenience. Using localbitcoins is convenient, but lets say you're not home and need to buy/sell some bitcoins, then ATMs are far more convenient in my opinion(if you have a bitcoin ATM closeby). Especially when there's an emergency for example, whereas you will surely be in a rush to sell some bitcoins, with a cost of higher fees of course.

Whether or not you like or use bitcoin ATMs though, you can't disagree that having bitcoin ATMs in public is definitely good publicity.

[DoublerHunter]

Bitcoin is getting seriously widely adopted by most of the modern counties and its atm machine is also widely spreading to different locations in some countries and we can see in the next few years that atm machine will become popular just like the usual atm cash machine that we have right now from the banks.

[Lampaster]

I don't understand why we need bitcoin ATMs. Now everyone has a Bank card. You can always refill your card from your PC or smartphone. I think the placement of the bitcoin ATM is a hopeless idea. It is better to develop conditions to increase trade with bitcoins.

[cryptodrzej]

Where are the majority of these bc ATMs going? grocery stores, gas stations, liquor stores?

[mmhaimhai]

Hope atm locations here in our country also increased as of now we only have one which is 4hours away from my location so I still prefer use btc wallet that provide cash in and cash out metbods available here, anyways charges for cashouts are not so huge but buying btc is quite at high rates around 5-10% of current value so btc atm that would offer service with lesser fees would be really appreciated in my opinion.

[Mike Mayor]

I have heard the fees on these things are insane. Is this true ? I have heard over 10% this is crazy talk and defeats the entire purpose of having the thing to begin with does it not ?

It's pretty awesome if we can use our phone to get cash in our hands you can use anywhere. That's very powerful. Bitcoin technology will reach each corner of the globe. Bit are Bitcoin ATMs really the answer ? We going back from digital to physical paper again.

[jimn]

Yes I see that many countries start using this Bitcoin ATM which facilitate buying and selling bitcoins for everybody. But unluckily its not generalized worldwide yet. Most people haven't such ATMs till now

[JimmyButlerCollector]

Bitcoin ATMs have fees when buying, however most of them give you 1:1 when cashing out bitcoin..... 0% fee when selling bitcoin to the ATM machine. Very good option if you need cash right now. These machines are growing at a rapid pace.

[paragoncoin]

I have heard the fees on these things are insane. Is this true ? I have heard over 10% this is crazy talk and defeats the entire purpose of having the thing to begin with does it not ?

It's pretty awesome if we can use our phone to get cash in our hands you can use anywhere. That's very powerful. Bitcoin technology will reach each corner of the globe. Bit are Bitcoin ATMs really the answer ? We going back from digital to physical paper again.

So you can withdraw physical currency with no fees? What are the rates for buying BTC from a machine?

[Euro1000]

Probably interesting - here is a list of ATMs supporting BTC:
https://coinatmradar.com/

[wahb]

There are no ATMs in my country, but I don't understand the need to go to an ATM, when you can easily purchase Bitcoins from LocalBitcoins.com for just 2% or 3% markup. I have heard that the ATMs are having markup of 6% to 8%.

yes we ald do not have any atm in my area, and i do not expect that we will ever need for it, because the online wallet system is the best and i think we are using it in a best way and will always like to continue using it. i think bitcoin walliet systme is the best systemand i think everyone want to continue useing it.

[cryptocortex]

Since there is money to be made (in fees), it's a matter of time before entrepreneurs enter this business, and make the number of ATMs increase quickly.

[JimmyButlerCollector]

Since there is money to be made (in fees), it's a matter of time before entrepreneurs enter this business, and make the number of ATMs increase quickly.

Already happening brother, 0% fees when selling by the way. Yes, the machine gives you physical cash when you sell bitcoin.

[carriebee]

Yes I see that many countries start using this Bitcoin ATM which facilitate buying and selling bitcoins for everybody. But unluckily its not generalized worldwide yet. Most people haven't such ATMs till now

Even here in my country I don't see atleast 1 bitcoin atm here. If other country there is more atm already has been used this means bitcoin has becoming popular. It will added awarenes for those that are not yet into bitcoin.

[Nesmo]

Well I don't see that increase in my country. In my country we only have about 4 atms all atleast an hour drive away. I want one in my town haha.

If you want one, you should purchase one of bitcoin ATM then. put in your town, and done.
This machine should be profitable if could meet all terms such as many people use bitcoin (want to exchange cash to bitcoin and vice versa) which usually located in a place where there are a lot of tourist from abroad come to that place, low fees and convenience maintenance costs.

[cryptocortex]

Since there is money to be made (in fees), it's a matter of time before entrepreneurs enter this business, and make the number of ATMs increase quickly.

Already happening brother, 0% fees when selling by the way. Yes, the machine gives you physical cash when you sell bitcoin.

Interesting, zero fee makes it much more attractive. I hope it will not be long until I can see one in my area.