What do you think about Bitcoin ATMs?

[Bitcoin ATM Project]

Have you ever used one? What were the fees and the experience like, and would you use one again? Is there one nearby where you live?

[Emoclaw]

I used one when traveling because I knew about it and just wanted to try it.
I already knew about the astoundingly high fees and for that reason I would never use it again. The fees are ridiculous, so I just used it for the experience, which wasn't bad.

Yet there aren't many people who know about Bitcoin and they need to cover their expenses somehow, it's not like they can do anything else.
Otherwise I agree with the idea and I find Bitcoin ATMs very convenient, but as I said they should have reasonable fees. The one I used was around 15-20%.

[sangtuosimino]

I never used it, but when I went to Hongkong last week, I suddenly found this kind of equipment, and I think the main thing is to let everyone have an experience. Really, it takes a long time to spread it.

[HabBear]

Have you ever used one? What were the fees and the experience like, and would you use one again? Is there one nearby where you live?

They're only good for being used as a billboard for Bitcoin.

I'd never use one to buy or sell bitcoin, the fees are incredibly high...it's insulting to us! Bitcoin is meant to be an alternative to a fee heaving currency system. Any mechanism that drives up fees for a transaction is bad for Bitcoin.

[IceOleg]

Nowadays ATMs for Bitcoin are made just for fun and advertising purposes since the fees are just unbelivably high! But I'm quite sure that we are going to see more of them in the future and when there is more competition - the fees will go down.
ATM is not how it was supposed to work like, but they definetely have a future - sometimes you just need to have some fiat right now.

[jseverson]

Nowadays ATMs for Bitcoin are made just for fun and advertising purposes since the fees are just unbelivably high! But I'm quite sure that we are going to see more of them in the future and when there is more competition - the fees will go down.
ATM is not how it was supposed to work like, but they definetely have a future - sometimes you just need to have some fiat right now.

This is exactly right. Most of their utility is in advertisment; the actual ability to dispense Bitcoin is just secondary. I mean, I guess they're nice for when you need Bitcoin in a pinch, but that should barely ever happen. Everyone has internet everywhere nowadays, and exchanges offer much better rates.

The problem with Bitcoin ATMs is that their operational expenses is too high. Unlike banks, which don't really use ATM machines to try to earn money directly, the actual Bitcoin ATM and operational costs are financed by the owner and is geared towards making money. Bank ATMs simply serve as a way to keep clientele happy so they could attract more and more customers, while Bitcoin ATM owners can't find incentive in that.

There's also the fact that Bitcoin is digital so you don't need it in physical form, unlike fiat, so while the idea is cool, I also think it's somewhat unnecessary.

[Pawalkalyan]

I have not heard about this earlier but I think it would be nice if its implemented in my country.I would definitely try once if its implemented in my country.

[mondobitcoin]

Never used one, and never seen one
But i think that is it a really good idea for lot of people (and of course for me )
I hope in the future to see more bitcoin ATMs

[Bitcoin ATM Project]

That's what we are trying to do is get more Bitcoin ATMs out there, and with low enough fees to make them attractive. For those of you that used machines, did you buy or sell? Did the machines have a sell option available? It seems like that's where the value would be, for people that already own crypto and maybe are traveling or just need fiat quickly - and with a low fee this could be reasonable.

[The_prodigy]

Have you ever used one? What were the fees and the experience like, and would you use one again? Is there one nearby where you live?

I HAVE NEVer seen one and it would be something worth noticing and amezed about as this would be very helpful indeed. once there is an atm for bitcoin then everythong would be easier and you can encash it on the go especially if you lost your physical manny for some reason

[Showtime24]

The ones that I've come across were absolutely not worth to use!  The fees were unbelievable.  Both of them were marked up 25%, ridiculous.  It's nice to see them in public places because it makes it more mainstream and more people can know about Bitcoin.  However, I feel like these ATM's pray on uninformed people who do not understand the world of Bitcoin, so they jack up the price because they know people will still buy it even with the ridiculous marked up price.  

[jc89]

Btc ATM might come in handy if you need to encash it and needs cash asap. Never tried it though. But with the wallet I am using they offer Cardless ATM for converting your btc into fiat. They offer cash out service which is facilitated by a bank that acts as a third party. Good thing here is there is NO FEE for this service and you can immediately withdraw your cash once you received all necessary informations needed. From the wallet, you just have to fill up some info such as your full name and mobile number where they will send 3 sets of digits that you will need to input in the ATM.

Not to be confused though, the ATM I'm saying is the usual machine of the bank and not really an exclusive btc atm.

[rivercityjon]

For my purposes, a Bitcoin ATM is irrelevant. Major exchanges are all able to connect to my bank account, and even if they didn't, Bitcoin funded debit cards have lower fees and can withdraw in your local currency out of traditional ATM's. If you want your coffee shop in the news for a day, a Bitcoin ATM will probably do it.

[abitCrypto]

There is a bit of complexity around bitcoin buying, selling, trading and storing. At least from simplicity prospective, it will be useful. As claimed, you can keep equivalent of bitcoin, something like bearer instrument in the form of QR code printed on paper.

[marren_06]

I haven't tried one yet but is looking forward to experience using bitcoin atm's. Well, we must admit that it is pretty convenient but given that fees will be reduced.

[HOT_HEAD]

There is one in my city, the local online exchange has set it up and the fees are reasonable, 6% as much as I remember. Used it once and never again.

[eagleman]

Have you ever used one?

Not yet, I didn't see any bitcoin ATM here close to my location I'm only watching videos of people that are trying to use those bitcoin's ATM and I feel jealous just for watching it.

What were the fees and the experience like, and would you use one again?

Base on what I've watched, they are just like the same as the wallet exchanges that we've been using as their service. If I were just the ones that has an experience I will gladly going to tell it to everyone and I guess I really have to try it out and visit one of it soon.

[brascopck]

Have you ever used one? What were the fees and the experience like, and would you use one again? Is there one nearby where you live?

I heard we have 2 bitcoin ATMs here in my country but I never visit it and I never use it because the location is really far from my place, I want to try it though. I also heard that the fee on bitcoin ATM is quite high so be ready for it when you want do transaction on bitcoin atm.

[stompix]

I've seen a lot of them but only used one once.
I had to pay a few bucks and I really didn't want to touch my stash or "dirty" my coins.
Not that I was buying something illegal but the place was shady enough......

But I would probably never use an ATM again as the fees are right outrageous with 7 to 12% which is pure daytime robbery.No matter how long it takes I'll use exchanges and bank transfers.As for cashing out all of them here require an id card so no anonymity no advantages.

[Wind_FURY]

Have you ever used one? What were the fees and the experience like, and would you use one again? Is there one nearby where you live?

I have not used one and I heard that the price is a lot higher than regular exchanges and sometimes than Localbitcoins.

I believe the BTM business model is not that feasible and a better way to go about it is to keep all transactions online by having a website/exchange that accepts debit cards and OTC deposits.

Maintenance costs will be lower and you will have minimal hardware upkeep which can be an inconvenience.